Auryn Re­sources drills 12.2 m of 4.7 g/t Au at Aiviq

Stockwatch Daily - - MINES & METALS - Mr. Michael Hen­rich­sen re­ports

AURYN RE SOURCES In c. has re­leased the first drill re­sults ever from the Aiviq prospect, lo­cated 12 kilo­me­tres north of the Three Bluffs de­posit. High­lights from the Aiviq prospect in­clude 12.2 me­tres of 4.7 grams per tonne gold (in­clud­ing 3.05 me­tres of 18.09 g/t Au) in­ter­sected in an in­ter­preted sili­ci­fied shear zone. Th­ese re­sults are the first step in defin­ing a new discovery on the Com­mit­tee Bay green­stone belt in a newly rec­og­nized style of min­er­al­iza­tion.

The min­er­al­iza­tion en­coun­tered at Aiviq is sit­u­ated along a re­gional shear zone that is de­fined by a seven-kilo­me­tre-long gold-in-till anom­aly. This shear zone was tested by a sin­gle drill fence dur­ing the 2017 sum­mer drill pro­gram, leav­ing the prospect wide open to ex­pan­sion. Im­por­tantly, the high-grade min­er­al­iza­tion in­ter­sected in drill hole 17RGR003 is within a 100-me­tre-wide zone of lower-grade struc­tures that demon­strate the over­all strength and po­ten­tial of the gold-bear­ing sys­tem. Auryn be­lieves that a fol­low-up drill pro­gram along this shear zone is highly war­ranted given the sim­i­lar na­ture of the till sig­na­tures and com­pa­ra­ble high-grade gold val­ues to those found at the Three Bluffs de­posit.

Aiviq’s prox­im­ity to Three Bluffs al­lows the com­pany to lever­age the sub­stan­tial ex­ist­ing ex­plo­ration in­fra­struc­ture al­ready in place at its Hayes camp for fu­ture drilling and po­ten­tial de­vel­op­ment.

Michael Hen­rich­sen, chief ge­ol­o­gist and chief op­er­at­ing of­fi­cer, said: “Auryn’s tech­ni­cal team has done an out­stand­ing job of vec­tor­ing to high-grade gold min­er­al­iza­tion un­der till cover at the newly de­fined Aiviq prospect. We view this high-grade in­ter­cept as the first step to defin­ing a sig­nif­i­cant new discovery at Com­mit­tee Bay and are look­ing for­ward to ag­gres­sively ex­plor­ing the seven-kilo­me­tre-long goldin-tills anom­aly along the min­er­al­ized shear zone in 2018.”

Mr. Hen­rich­sen added: “The prox­im­ity of the Three Bluffs de­posit with this new discovery, cre­ates the po­ten­tial for a multi-de­posit sce­nario uti­liz­ing com­mon in­fra­struc­ture as we ex­pand the Three Bluffs re­source and con­tinue our ex­plo­ration ef­forts at Aiviq.”

Ad­di­tional pos­i­tive re­sults were re­ceived from the Aar­luk prospect, where 4.57 me­tres of 2.52 g/t gold were in­ter­sected in banded iron for­ma­tion, where there are three holes pend­ing as­say. This prospect is 17 kilo­me­tres to the north of Aiviq and re­mains open, demon­strat­ing the emerg­ing im­por­tance of the 30-kilo­me­tre-long struc­tural cor­ri­dor from Three Bluffs through to Aar­luk.

Ro­tary air blast (RAB) drilling re­sults

To date the com­pany has re­ceived com­plete re­sults from the Aiviq, Kalu­lik, West Plains, Ziggy South, Avin­ngaq and par­tial re­sults from the Aar­luk prospect (three holes pend­ing as­say), rep­re­sent­ing a to­tal of 39 per cent of the drill pro­gram.

Sig­nif­i­cant in­ter­cepts from the Aiviq, Kalu­lik and Aaluk prospects are re­ported in the as­so­ci­ated ta­ble.

(See AUG Ta­ble 1 on page 6)

The sum­mer ex­plo­ration RAB drill pro­gram com­pleted 30,133 me­tres in 156 holes, with 61 per cent of the re­main­ing re­sults to be re­leased in the com­ing months.

We seek Safe Har­bor.

Karen Bax­ter con­densed this news re­lease (karenb@stock­watch.com).

An­to­nio Ar­ribas, Ivan James Be­bek, Steven Mark Cook, Gor­don John Fretwell, Michael Kosowan, Daniel T McCoy, Keith Charles Minty, Shawn K Wal­lace

(AUG) Shares: 76,937,740

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