AU Aurion Resources Ltd

• New gold intercepts at the Helmi Discovery include:
• • 1.11 g/t Au over 45.80 m
  • 11.39 g/t Au over 2.04 m
  • 18.00 g/t Au over 1.40 m
• Maiden drill program identified broad zones of near surface gold mineralization over 1.3 km strike length
• Winter drilling campaign commenced

ST. JOHN'S, NL, Feb. 23, 2022 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") reports results for remaining 7 holes drilled at the Helmi Discovery on the Aurion-B2Gold Corp. (TSX: BTO) ("B2Gold") Joint Venture (JV) in the Central Lapland Greenstone Belt in northern Finland.

Summary

• Further gold intercepts at the Helmi Discovery
• • 1.11 g/t Au over 45.80 m from 139.00 m (IKK21010).
  • 1.78 g/t Au over 10.85 m from 30.60 m and 18.00 g/t Au over 1.40 m from 209.10 m (IKK21014).
  • 11.39 g/t Au over 2.04 m from 323.96 m (IKK21016).
  • 0.51 g/t Au over 41.00 m from 42.20 (IKK21011).
  • 3.22 g/t Au over 5.00 m from 39.20 m (IKK21013).
• Maiden drill program (20 holes, 5,201.5 m) identified broad zones of near surface gold mineralization over 1.3 km strike length including previously released highlight intercepts
• • 1.84 g/t Au over 52.40 m, 1.73 g/t Au over 44.95 m, 1.42 g/t Au over 30.70 m, 1.42 g/t Au over 30.60 m, 1.46 g/t Au over 28.70 m.
  • 17 out of 20 holes intersected gold mineralization.
• Winter drilling campaign commenced
• • Drilling is planned with two rigs during the winter season focusing on targets in swampy terrain accessible only during the period of snow cover.
  • Plan to test the extensions of the Helmi Discovery along strike and at depth and selected new geophysical and geochemical targets.

Comments
"Helmi has evolved rapidly to become a significant discovery. It was a blind target selected because of its proximity to Rupert Resources' 3.95-million-ounce Ikkari discovery. Sequential discoveries, each informed by evidence from prior, are the hallmark of the early stages of an emerging gold camp." Commented Matti Talikka, Aurion's CEO. "We look forward to the continuation of co-operation with our valued partner and operator, B2Gold, and the intensifying exploration efforts at Helmi in 2022. We are also excited about the implications of Helmi and how it may inform further discovery opportunities within the JV area and within Aurion's 100% owned properties."

Figures associated with this release can be found at the following link: https://aurionresources.com/site/assets/files/1430/nr22-05figures.pdf.

Maiden drill program at the Helmi Discovery
A total of 20 holes, 5,201.5 m, were drilled in the Helmi area during the second half of 2021. The Helmi Discovery is located approximately 1.3 km west of Rupert Resources' 3.95-million-ounce Ikkari Discovery, along the Kutuvuoma-Ikkari structural corridor, which is an approximately 8 km long sequence of prospective geology along a domain boundary in the eastern part of the JV property extending from the Ikkari Discovery to the Kutuvuoma test pit.

The Helmi area is covered by till overburden, so drill targeting is mainly supported by interpretation of geophysical and geochemical (base of till) data sets.

The widely spaced drill holes were designed to test a strike length of approximately 1.3 km along the prospective structural corridor. Seventeen of 20 holes returned one or several zones of gold mineralization with several broad and consistent zones of gold mineralization close to surface. Highlight intercepts include 1.84 g/t Au over 52.40 m and 1.42 g/t Au over 30.60 m (press release dated Oct 25, 2021), 1.73 g/t Au over 44.95 m, 1.42 g/t Au over 30.70 m, and 1.46 g/t Au over 28.70 m (press release dated Jan 19, 2022) and 1.11 g/t Au over 45.80 m (current press release).

The mineralized zones at Helmi are open along strike and at depth. The Helmi area covers approximately 1.5 km strike length of the 8 km long structural corridor of which the majority remains untested.

The maiden drill program provides an excellent base for the next steps.

Table 1: Aurion-B2Gold JV Drilling Summary

Drill hole IKK21010 was collared 60 m to the west from IKK21003. IKK21010 intersected mineralized zones of 1.54 g/t Au over 3.00 m from 122.25 m and 1.11 g/t Au over 45.80 m from 139.00 m. The mineralization is hosted by strongly deformed and altered ultramafic rocks and felsic tuffs with fine grained pyrite dissemination and pyrite and magnetite veinlets.

Drill hole IKK21011 was collared 200 m to the northwest from IKK21003. IKK21011 intersected mineralized zones of 0.51 g/t Au over 41.00 m from 42.20 m including individual higher-grade samples up to 4.09 g/t Au, and 1.08 g/t Au over 2.95 m from 97.15 m. The mineralization is hosted by strongly deformed and altered ultramafic rocks and intermediate-felsic tuffs with fine grained pyrite dissemination and veinlets.

Drill hole IKK21012 was collared 195 m to the west from IKK21010. IKK21012 intersected mineralized zones of 1.31 g/t Au over 0.84 m from 79.37 m, 1.76 g/t Au over 2.81 m from 89.84 m, 0.45 g/t Au over 11.65 m from 98.10 m and 1.01 g/t Au over 1.40 m from 145.25 m. The mineralization is hosted by strongly deformed and altered ultramafic rocks with fine grained pyrite dissemination and pyrite and magnetite veinlets. 

Drill hole IKK21013 was collared 155 m to the northwest from IKK21012. IKK21013 intersected mineralized zones of 3.22 g/t Au over 5.00 m from 39.20 m including 13.25 g/t Au over 0.40 m from 40.45 m, and 0.83 g/t Au over 4.20 m from 118.00 m. The mineralization is hosted by strongly deformed and altered mafic tuffs and ultramafic rocks with fine grained pyrite dissemination and pyrite veinlets. 

Drill hole IKK21014 was collared 65 m to the east from IKK21009. IKK21014 intersected mineralized zones of 1.78 g/t Au over 10.85 m from 30.60 m incl 5.20 m of core loss (0 g/t Au value assigned for intervals with core loss), 1.43 g/t Au over 1.30 m from 87.20 m and 18.00 g/t Au over 1.40 from 209.10 m. The first two intervals are hosted by strongly deformed and altered ultramafic rocks with fine grained pyrite dissemination and pyrite veinlets. The higher-grade interval (18.00 g/t Au over 1.40 m) is hosted by albite altered intermediate tuffite and graphite bearing mudstone with pyrite dissemination and veinlets.

Drill hole IKK21015 is approximately 100 m undercut to hole IKK21003. IKK21015 intersected several zones (5-30+ m wide) of brecciated, sheared and altered mafic and ultramafic rocks with pyrite dissemination and anomalous gold such as 0.1 g/t Au over 32.25 m down dip of the mineralization in holes IKK21003 and IKK21008 at the footwall contact with the sandstone unit of the Kumpu group.

Drill hole IKK21016 is approximately 60 m undercut to hole IKK21006. IKK21016 intersected a mineralized zone of 11.39 g/t Au over 2.04 m from 323.96 m. The mineralization is hosted by sheared and altered ultramafic rock and albitized siltstone with pyrite veinlets.

In addition to the listed intercepts, all drill holes intersected prospective intervals with elevated gold values (0.1-1.0 g/t Au) indicating potential for the existence of several parallel gold bearing zones.

Winter drilling program commenced
The JV has commenced a drilling program using two rigs during the winter season with a focus on testing targets on swampy areas during the period of snow coverage.

The drilling is designed to test the extension of the mineralized zones at the Helmi Discovery. In addition, selected new targets based on the interpretation of recent geophysical and geochemical datasets will be tested during the program.

The preliminary budget for 2022 is approximately CAN$10 million and includes approximately 12,000 m of drilling. The JV will also continue to perform geophysical surveys and base of till sampling programs that have been successfully used to generate drill targets.

Background
The Joint Venture (30% Aurion/70% B2Gold) covers approximately 331 km² along the major crustal scale Sirkka Shear Zone in the Central Lapland Greenstone Belt, and includes a number of discoveries such as Helmi (1.84 g/t Au over 52.4 m), Kutuvuoma (16.47 g/t Au over 11.0 m), Soretiavuoma (48 g/t Au over 1.1 m), Sinermä (0.54 g/t Au over 40.2 m), Kiekerömaa (5.8 g/t Au over 5.0 m) and Kettukuusikko (4.33 g/t Au over 20.4 m).

Quality Assurance and Quality Control
All samples were delivered to ALS preparation facility in Sodankylä, Finland where sample preparation work was completed. Analytical work for these samples was completed at ALS facilities in Loughrea, Co. Galway, Ireland. ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2017). Samples were analyzed for gold using the Au-AA24 procedure (50 g fire assay with AAS finish: Lower Detection Limit ("LDL") 0.005 g/t gold; Upper Detection Limit ("UDL") – 10 g/t gold). B2Gold has an internal QA/QC program involving the insertion of certified standards and blanks into the sample stream. ALS has its own QA/QC protocol using standards, blanks and duplicates.

This news release has been reviewed by Andrew Hussey, P.Geo., GIS Geologist and Database Manager for Aurion Resources, a Qualified Person as defined by National Instrument 43-101. For more information on these projects please visit our website at www.aurionresources.com.

About Aurion Resources Ltd. Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.

On behalf of the Board of Directors,
Matti Talikka, CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

SOURCE Aurion Resources Ltd.