ST. JOHN’S, NEWFOUNDLAND AND LABRADOR–(Marketwired – Feb. 22, 2016) – Aurion Resources Ltd. (“Aurion”) (TSX VENTURE:AU) is pleased to report that it’s 2015 field program generated several new, wholly-owned, high grade gold prospects in the Central Lapland Greenstone Belt of Northern Finland. These prospects have highly anomalous gold in rock and till, with the best sample from Ruoppa assaying 30.7g/t Au and the best sample from Risti assaying 22.3g/t Au. The prospects are all of significant size, with up to 17 km of strike potential and excellent access. (See attached map. The highlights of the 2015 program are summarized below:
The Ruoppa target comprises an open-ended 1.9 km long zone of anomalous gold samples, within an overall target greater than 7km long, which is contiguous with Agnico Eagle’s Kuotko deposit (1.8 million tonnes grading 2.9 g/t Au; see Agnico Eagle Annual Report).
In the fall of 2015, Aurion outlined extensive gold mineralization over a horizontal distance of 1.9km. A total of 81 rock chip samples were collected from outcrop, sub outcrop and angular boulders assaying from nil to 30.7 g/t Au including 21 samples which assayed greater than 1.0 g/t Au. The mineralization comprises narrow mm to <1m wide quartz-carbonate veins with minor sulphides, free gold and bismuth. Mineralization is hosted by felsic dykes, occurring along the margin of an intrusive body. The association of quartz-carbonate veins with free gold and bismuth with felsic dykes is very similar to that reported at Agnico Eagle’s Kuotko gold deposit.
Agnico is currently exploring Kuotko as a potential satellite open pit. Agnico reported completing approximately 7,300m of drilling in 2015, identifying new mineralized zones outside of the known mineral resource areas. Agnico established a Mining Lease in early 2015 and studies are being carried out to assess the viability of mining the deposit (Agnico Eagle Press Release dated Feb 10, 2016). Historical drill intercepts of 17.5 g/t Au over 5.0m and 23.5 g/t Au over 3.0m have been reported.
The Risti target is located approximately 13km east of the Company’s Kutuvuoma property, which is under joint venture to B2Gold. The property hosts the Kaarestunturi prospect, which was discovered by the Geological Survey of Finland who completed various studies including 5 shallow diamond drill holes within a small area returning up to 5.2 g/t Au over 5.0m.
In 2015, Aurion outlined a new zone of gold mineralization approximately 750m northwest of the Kaarestunturi prospect. This new zone hosts gold mineralization within quartz-iron oxide veins and breccias cutting altered meta-sediments. A total of 30 rock samples from outcrop, sub outcrop and angular boulders, within an area of 250m by 250m, assayed up to 22.3 g/t Au including 10 samples which assayed greater than 1 g/t Au.
Sila (formerly Silasselka)
The Sila target covers approximately 11km along the northern strike extension of the Hanhimaa Shear Zone (HSZ), within sheared meta-volcanics and meta-sediments sandwiched between two large intrusive bodies. The HSZ south of Sila hosts several gold occurrences, which have reported drill intersections of 4.5 g/t Au over 11.7m and 5.9 g/t Au over 7.5m (Agnico Eagle Annual report).
Aurion has identified extensive mineralization in quartz veins and silicified meta-volcanic and meta-sedimentary rocks. Assays from 56 rock samples collected over a distance of 6.5km ranged from nil to 219 g/t Au and nil to 5410 ppm As. Numerous till samples assayed up to 0.7 g/t Au within this trend and up to 1.12 g/t Au elsewhere on the property. The gold-arsenic association at Sila, is similar to the Kittila deposit.
Rova comprises a 17km long <1km wide zone of sheared meta-volcanic and meta-sedimentary sandwiched between two large intrusive bodies. Historical work by the state mining company Outukumpu in the late 1980’s highlights an approximately 6km long section with anomalous gold (and copper) in till with individual till samples assaying up to 4.0 g/t Au. The mineralization comprises quartz-carbonate vein sets in sulphide-rich metasedimentary rock, in the contact zone between meta-volcanic rocks and intrusives. Five shallow drillholes were completed in 1987, within a small area, with a best result of 2.1 g/t Au over 1.2m.
These projects have classic “Granite-Greenstone” orogenic gold deposit characteristics, similar to those seen in the prolific gold-rich geological terranes of Canada, Western Australia and West Africa. Unlike those jurisdictions, these projects, and the Central Lapland Greenstone Belt of Northern Finland in general, have seen significantly less exploration work.
Since its first acquisition in Finland in mid-2014, Aurion has acquired a large database and land position north and south of Kittila, Europe’s largest gold mine (7.7 Moz gold; Agnico Annual Report). The limited amount of fieldwork completed to date has already generated several exciting gold projects, clearly demonstrating the prospectivity of Aurion’s holdings. It has also been successful in attracting B2Gold Corp., one of the most well-respected exploration and mining companies in Canada, to jointly explore the Kutuvuoma and Ahvenjarvi projects. Aurion is seeking creative partnerships to advance these exciting new opportunities.
Quality Assurance and Quality Control
All samples were delivered to Labtium Oy’s facility in Sodankyla, Finland. The samples were analysed for gold using procedures 704P (Detection Limit – 0.01 gold; Upper Limit – 100.00 g/t gold) – 25g fire assay with AAS finish or using procedures 705P (Detection Limit – 0.005 gold; Upper Limit – 100.00 g/t gold) – 50g fire assay with AAS finish. Multi-element analysis was completed using procedure 511. This procedure detected 31 elements by aqua regia acid digestion, HCl leach followed by ICP-OES and ICP-MS analysis. Labtium is a Finnish, accredited, certified laboratory group. They are monitored by an internal QAQC program and include the inclusion of blank material, duplicates and certified reference material.
Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release. For more information on these projects please visit our website at www.aurionresources.com.
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.
On behalf of the Board,
Mike Basha, President & CEO
For further information on these projects please visit our website at www.aurionresources.com.
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To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/AU0222.pdf