Au Gold Corp Completes Property-Wide Targeting Surveys Confirming Drill Targets at the Ponderosa Gold Project
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Au Gold Corp
NR3-2021
Au Gold Corp Completes Property-Wide Targeting Surveys Confirming Drill Targets at the
Ponderosa Gold Project
Vancouver, British Columbia – September 2 2, 2021 – Au Gold Corp (TSXV:AUGC) (“ AUGC” or the
“Company”) is pleased to provide an update on exploration activities at its Ponderosa Gold Project near
Merritt, BC. During spring and summer, the Company completed a successful property -wide helicopter-
borne magnetic survey, followed by subsequent target select drone-based photogrammetry surveys and
infill soil geochemistry. The program refined and prioritized known drill targets and identified new
target areas where additional work will be required. Drill permitting is underway for the highest priority
targets and the fully funded exploration program, including both drilling and mechanical trenching will
commence as soon as approval is granted.
Processed data from each of the airborne surveys was used to conduct detailed lineament and structural
analyses of the project area focusing strongly on those characteristics associated with existing
mineralized bedrock exposures and immediate peripheral regions. The interpretation suggests a
complex structural setting while confirming observed orientations at the Tomahawk and Ribeye Zone
bedrock exposures. N umerous parallel to sub-parallel structural trends are indicated as well as strike
extensions of existing zones.
Follow-up assessment was carried out at a number of specific sites where geochemical anomalies of
varying tenor coincide with newly interpreted structural targets. This ground inspection identified
several zones of localized silicification, oxidation and angular epithermal vein material of varying sizes.
Based on the improved structural interpretation across much of the property and the successful
confirmation of epithermal mineralization and associated alteration at a number of new sites, the
historical soil geochemical results were closely re-examined. Most of the vintage sampling was done at
relatively coarse spacing with samples collected at 50 m intervals along lines spaced 100 m apart and to
a lesser degree, 50 m apart. These sampling campaigns identified coincident gold and a rsenic soil
geochemical anomalies within several of the high er elevation regions where till cover and accumulated
organic material in drainage systems are thin to non -existent. Sample results from the br oader
peripheral regions contain mostly scattered point anomalies. Of particular interest, however, is the
Tomahawk Zone where gold-bearing epithermal mineralization (individual samples returned 2.96 g/t Au)
contained within a vein zone exposed for 55 m along strike and 15 m across the widest continuous
exposure, has no associated soil anomalism within the historical grid.
To better understand the surface expression of the Tomahawk Zone and other potential mineralized
zones on the property, t he Company conducted closely spaced deep auger soil sampling within five
isolated grids of the broader historical sample area including a 400 m portion of the projected trend of
the Tomahawk Zone. The grids targeted interpreted structural trends, most of which are associated
with at least single point gold-in-soil anomalism from the historical sampling. A total of 576 soil samples
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were collected and most are infill at a spacing of 25 by 25 m with some sites replicating historical sample
locations. All samples were delivered to ALS Global Laboratories in North Vancouver, BC for analysis.
AUGC personnel are highly encouraged by the work carried out to date which indicates potential for
extension of several known mineralized showings and the discovery of new vein systems along the
broader trend.
The Company is planning an initial diamond dri ll program, comprising 1,500 metres, along with
mechanized trenching once permits are received from the Province of British Columbia.
Numerous forest fires occurred in the region, although none impacted the project directly, aside from
periods of heavy smo ke. Many communities were directly impacted and this resulted in high demand
for accommodations in Merritt. The Company shortened its planned work program to free up
accommodation and avoid fire hazards during the August campaign.
Community engagement and baseline environmental data collection is continuing and will support the
planned exploration.
Qualified Person
All scientific and technical information in this press release was prepared by William A. Wengzynowski,
P. Eng., a qualified person as defined by NI 43 -101. Mr. Wengzynowski is the Exploration Manager of Au
Gold Corp.
Ponderosa Gold Property
The Ponderosa Gold Property is located 16 km southwest of Merritt, BC, within the Spences Bridge Gold
Belt which forms a northwest trending belt roughly 180 km long and up to 24 km wide.
Exploration by AUGC and others, notably Westhaven Gold Corp., has id entified the potential for gold
associated with low -sulphidation epithermal mineralization (quartz -adularia). Examples of this style of
mineralization include Kupol (Kinross Gold Corp.), Hishikari (Sumitomo Metal Mining) and Fruta Del
Norte (Lundin Gold).
Rocks of immediate interest in the belt and underlying much of the Property comprise successions of
Cretaceous subaerial and pyroclastic volcanic flows which host significant gold mineralization at
Westhaven Gold Corp.’s Shovelnose project approximately 2 0 km southeast of the Ponderosa Gold
Property. Geology across the Ponderosa Gold Property claim group is broadly divided into two
Cretaceous age volcanic sequences comprising subaerial and pyroclastic volcanic flows of the Pimainus
and Spius Formations.
Work conducted at Ponderosa in 2019 and 2020 significantly upgraded three historic showings and
identified an entirely new showing. These showings in order of priority are referred to as the Tomahawk,
Flat Iron, T-Bone and Rib Eye zones. The Tomahawk Zone is the most advanced and highest priority
showing on the Property.
The Ponderosa Gold Property is located within the unceded traditional territory of the Nlaka’pamux
People.
Further information on the P roperty can be found on the Company’s website:
https://www.augoldcorp.com/ponderosa-property/.
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Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Au Gold Corp
Marc G. Blythe, MBA, P.Eng., President & Chief Executive Officer
Sandrine Lam, Investor Relations Phone: 1-604-687-3520 Ext. 250
Email: [email protected]
To learn more visit: https://www.augoldcorp.com
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