TSX-V: AU

Aurion Resources Ltd. (CNW Group/Aurion Resources Ltd.)

ST. JOHN'S, Nov. 27, 2019 /CNW/ - Aurion Resources Ltd. (TSX VENTURE:AU) ("Aurion" or the "Company") is pleased to announce results from prospecting, trenching and channel sampling at its wholly owned Launi East Project in northern Finland that has identified a 3 to 9 metre ("m") wide auriferous zone, called the Christmas Deformation Zone ("CDZ"). The zone is further projected to continue an additional 1.2 km to the southeast based on quartz vein outcrops and boulders. The company also announces the commencement of the inaugural drilling campaign on Launi East. The drill program will further test the very promising results of the trench channel samples and additional grab samples from the 1.0 by 5.5 km area. The Company is currently drilling the Christmas and Kookoo targets with one rig.

Highlights:

  • 544 trench channel samples taken mostly from the Christmas, Kookoo and Bonanza Zones with assays up to 27.01 g/t Au over 1.77 m and 14.76 g/t Au over 2.95 m.
  • 91 grab and chip samples from trenches assaying up to 50.4 g/t Au.
  • 3 – 9 m wide auriferous Christmas Deformation Zone traced in trenching and outcrops for 450 m and projected an additional 1.2 km to the southeast based on quartz vein outcrops and boulders.
  • Prospecting has identified multiple additional mineralized zones outside of the CDZ over a 1.0 by 5.5 km area, with several new visible gold occurrences.
  • Quartz veins, up to 2.8 m wide in trenching, associated with broad zones of strong silicification, hematite and fuchsite alteration.
  • No documented history of mineral exploration or mineral claims in the area.
  • Property straddles a major flexure along the Sirkka Shear Zone.
  • Drilling is underway on the Christmas and Kookoo targets.
  • Aurion is fully funded for exploration through 2020.
  • Click the link for maps and photos:

Comments

"We are very happy with the success of our prospecting team and the discovery of multiple new, at surface, high-grade showings at Launi East," commented Mike Basha, President and CEO.  "We have identified the footprint of a potentially very large system here. We are excited to commence drilling on these targets to determine the scale of mineralization. We plan on drilling at Launi East until we give the team a much-deserved break for the holidays and return early in the new year to continue drilling. Given the abundance of targets and ease of access at Launi East, we expect to be able to drill throughout the winter months."

Discussion
The Launi East property is immediately west of a flexure in the Sirkka Shear Zone, which the GTK (Geological Survey of Finland) defines as a major (> 125 km long) tectono-stratigraphic boundary between Archean and Proterozoic terranes. The arcuate stratigraphy on the Launi East property includes a folded package of siliceous sandstones and mafic to intermediate volcanic rocks.

Kookoo and Christmas zones:  Detailed mapping of surface and trench exposures indicates lateral continuity of a northwest trending deformation corridor named the Christmas Deformation Zone (CDZ) between the Christmas and Kookoo zones. Shear and extensional quartz veins in the CDZ are hosted in silicified sandstone within broad zones of moderate to strong hematite and fuchsite alteration. The CDZ is on the east limb of an anticline 1 to 2 kms west of the Sirkka Shear Zone. Nine trenches totaling 715 m were excavated over a strike length of 450 m of the CDZ and these targeted extensive high-grade prospecting discoveries up to 313 g/t Au. In the 2019 field season 218 rock samples were taken along this part of the CDZ and they ranged from nil to 313 g/t Au with an average of 21.5 g/t Au and a median grade of 5.7 g/t Au.

Quartz veining and moderate to strong alteration were exposed in 8 of the 9 trenches and visible gold was identified in at least 5 of the trenches. The wider fault-fill quartz veins are steep to southwest dipping and display tectonized pinch and swell geometries. The best channel composites from the trenching here are 27.01 g/t Au over 1.77 m, 14.76 g/t Au over 2.95 m and 10.81 g/t Au over 3.11 m from a quartz vein with visible gold and a high concentration of iron oxides in trench LNT1904 near the south end of the CDZ.  The northernmost trench is LNT1903 which is 350 m north of LNT1904 and the best assays here include 13.55 g/t Au over 0.3 m and 2.52 g/t Au over 2.71 m. Angular quartz boulders are also found 600 m north of LNT1903 including a 0.40 m wide quartz block with specularite which assayed 1.78 g/t Au.

The Launi drill program will initially focus on a 420 m long section of the Christmas Deformation Zone between trenches LNT1902 and LNT1903.





weighted average


Launi Trench #

Au ppm

metres

note





LNT1901

1.14

2.79

3 cuts across the same interval of quartz veining with Fe oxide

LNT1901

1.2

2.4

3 cuts across the same interval of quartz veining with Fe oxide

LNT1901

2.26

2.44

3 cuts across the same interval of quartz veining with Fe oxide





LNT1903

2.52

2.71

across  zone of quartz veining with Fe oxide

LNT1903

13.55

0.3

along quartz vein with Fe oxide trend





LNT1904

27.01

1.77

3 cuts across same laminated quartz vein with VG and Fe oxide

LNT1904

14.76

2.95

3 cuts across same laminated quartz vein with VG and Fe oxide

LNT1904

10.81

3.11

3 cuts across same laminated quartz vein with VG and Fe oxide






notable single channels


BZT1901

39.5

0.56

across crack and seal qv with VG and tourmaline in Bonanza trench

BZT1901

29

0.44

across crack and seal qv with tourmaline and py in Bonanza trench

BZT1901

19.15

0.77

across qv with VG and tourmaline in Bonanza trench





LNT1902

6.84

0.32

Christmas Zone fault-filling quartz vein with Fe oxide

LNT1902

6.8

0.6

Christmas Zone quartz vein with Fe oxide

LNT1902

13

0.28

Christmas Zone highly altered fault zone

LNT1902

14.25

0.37

Christmas Zone of veining and fuchsite alteration


 

Big Blow I and Big Blow II: Large zones of quartz veining up to 5.5 m wide were discovered in outcrop and 1.00 m to 2.80 m wide in trenching in two zones 125 m200 m east of, and parallel to, the CDZ. These two zones, Big Blow I and Big Blow II, are fault-fill veins 75 m apart that display crack-seal textures with hematite and fuchsite alteration. Exposure is poor but the quartz vein trends have been traced sporadically for 420 m for Big Blow I and 120 m for Big Blow II. Gold values on these two trends were typically less than 0.5 g/t Au though values up to 10.5 g/t Au were returned and visible gold was noted.

Hematite City: Quartz veins, stockworks and breccias with heavy concentrations of Fe oxides (specular hematite and goethite) and fuchsite alteration of the host sandstone are found in boulders and outcrop along a projected southeastern continuation of the Christmas Deformation Zone for at least 1.2 km. This showing was discovered in 2019 and 274 samples were taken along the Hematite City trend. The quartz blocks assayed from nil to 80.7 g/t Au with an average of 3.5 g/t Au. These quartz blocks are typically 0.5 m wide (max 2.00 m) and many contained visible gold.

Midsommer: The Midsommer area, 850 m southwest of the Christmas Deformation Zone, has 1 to 2 m wide northwest trending quartz veins in outcrop and quartz boulders spread over a 300 m by 220 m area. A total of 147 samples were taken here in 2018 and 2019 and these assayed from nil to 379 g/t Au with an average of 3.00 g/t Au. Some of these quartz veins were crack-seal textured veins with visible gold. 

Father's Day: This zone, which is located 1 km southwest of the south end of the Hematite City trend, consists of a 525 m long north-northwest trend of specularite-quartz breccia boulders. These mineralized boulders assayed from nil to 2.81 g/t Au (average 0.11 g/t Au) and were typically 0.4 m on a side (maximum 1.2 m).

Mother's Day: Mother's Day is 550 m south-southeast of Father's Day and may be the continuation of this trend. A 450 m long trend of quartz blocks, typically 0.5 m on a side, contain Fe-oxides and are hosted by silicified sandstone. A total of 81 samples were taken here with assays ranging from nil to 3.24 g/t Au (0.13 g/t Au average). Visible gold was noted here. Father's Day and Mother's Day were 2019 discoveries.

Stubley Zone: Stubley Zone is a 2019 discovery located 600 m south-southeast of Mother's Day. Angular quartz blocks up to 2.00 m on a side (typically 0.5 m width) with crack-seal and breccia textures and significant concentrations of Fe oxides (including 10 – 40% hematite and goethite) are found as boulders and outcrop/subcrop hosted by silicified sandstone. A total of 68 samples were taken in a 370 m by 350 m area with assays ranging from nil to 67.7 g/t Au (1.97 g/t Au average). Visible gold was noted here.

Bonanza area: Bonanza was a 2019 grassroots discovery. A total of 50 samples of quartz vein material returned assays ranging from nil to 790 g/t Au with an average of 35 g/t Au and a median value of 1.95 g/t Au.  Five trenches totaling 400 m were excavated in the Bonanza area located 4.3 km south of the Christmas Zone and 1 km west of the Sirkka Shear Zone.  A 0.40 – 1.0 m wide northeast trending crack-seal quartz vein with visible gold, pyrite and tourmaline was exposed over a strike length of 70 m within intermediate volcanics in trench BZT1901. Highlights from channel sampling this vein included 39.5 g/t Au over 0.56 m, 29 g/t Au over 0.44 m and 19.5 g/t Au over 0.77 m. Additional auriferous quartz surface samples indicate a continuation of at least 60 m to the southwest past trench BZT1901. Another highly anomalous cluster of surface rock samples is present 350 m east of trench BZT1901. Twenty-eight quartz vein boulders with 2 – 8% Fe oxides, pyrite and visible gold were traced over 30 m in a northeast direction. These quartz blocks, which were typically 0.6 m wide (max 1.5 m wide) assayed from nil to 152.5 g/t Au with an average of 15.98 g/t Au and a median value of 4.6 g/t Au.

A ground magnetic survey at 25 m line spacings and totaling 600 km was completed over the Launi East property in 2019. This high-resolution survey will be useful in targeting mineralization as the alteration in the known auriferous deformation zones is magnetite destructive and creates magnetic lows. 

The Company cautions that the chip and channel samples are selected samples and are not necessarily representative of the underlying mineralization hosted on the property.  However, the results from this sampling program are consistent with those previously received.  The Company is currently assessing the significance of the results in relation to the geologic model being developed, and a more detailed assessment will follow in due course.

Background

The geological setting of the Launi East Project has many similarities to prolific gold-rich orogenic gold belts globally, including the Timmins camp of the Abitibi province of Northern Ontario. Aurion has land holdings covering approximately 80 km of the Sirkka Shear Zone.  In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with major regional fault zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones.  The Sirkka Shear Zone has many hallmark characteristics of these belts which have produced many millions of ounces of gold; however, it lacks the history of systematic gold exploration.

Quality Assurance and Quality Control

All samples were delivered to ALS Minerals preparation facility in Sodankylä, Finland where sample preparation work was completed. All analytical work was completed at ALS Minerals facilities in Rosia Montana, Romania and Loughrea, Ireland.  ALS Minerals is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005).  All samples were analyzed for gold using the Au-AA26 procedure (50g fire assay with AAS finish: Lower Detection Limit 0.01 g/t gold; Upper Limit – 100 g/t gold).  Any samples that returned over-limit values (>100 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (>1.5 g/t gold) were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000 ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 100-micron stainless steel screen. Any material remaining on the screen (>100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<100 micron) is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (+) 100 and (-) 100-micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.)  Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 30 samples.  ALS has its own QA/QC protocol using standards, blanks and duplicates.

This news release has been reviewed and approved 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.

Forward-Looking Statement

Certain statements contained in this release constitute forward-looking information.  These statements relate to future events or future performance.  The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events.  Actual future results may differ materially.  The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward‑looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward‑looking information. The foregoing statements expressly qualify any forward‑looking information contained herein.

About Aurion Resources Ltd.

Aurion Resources Ltd. (Aurion) is a Canadian exploration company listed on the TSX Venture Exchange (TSX-V:AU). 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 joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. in Finland.

On behalf of the Board of Directors,
Michael Basha, Chief Executive Officer

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.

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