Au Gold Corp Samples 1.04 g/t Gold over 5.25 m at the Tomahawk Zone, Ponderosa Property, BC
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Au Gold Corp
NR2-2021
Au Gold Corp Samples 1.04 g/t Gold over 5.25 m at the Tomahawk Zone, Ponderosa Property, BC
Vancouver, British Columbia – March 31 , 2021 – Au Gold Corp (TSXV:AUGC) (“ AUGC” or the
“Company”) is pleased to announce assay results from a trench sampling program completed at the
Ponderosa gold project in British Columbia (“Ponderosa”). The program focused on the Tomahawk
Zone, the highest priority of four target areas on the property. The results support the exploration
thesis that Tomahawk represents the intact upper portion of an epithermal gold system and should be
prioritized for future diamond drilling.
Tomahawk Sampling Highlights
Trench TR-DP-04 returns 1.04 g/t gold across 5. 25 m including 3.99 g/t gold and 14.9 g/t
silver across 1.00 m;
Variably altered volcanic host rocks yield up to 0.61 g/t gold across 1.25 m;
Anomalous gold response from all trenches sampled; and
Textures supportive of high-level position in the epithermal system
“Results from the Tomahawk sampling program are significant especially given the target area is
essentially blind to surface geochemistry.” states President and CEO Marc Blythe. “The tenor of gold
mineralization and accompanying textures are consistent with the Company’s interpretation that the
Tomahawk Zone represents the upper portions of an epithermal gold system. We are highly
encouraged by these results and look forward to advancing this target and others within the project
area in 2021”.
The Tomahawk Zone is currently the most advanced and highest priority showing on the Ponderosa
Property. The area was identified through historical prospecting as a quartz rubble pile roughly 3 m in
diameter. Six historical grab samples reportedly returned from below detection t o 0.54 g/t gold but no
additional follow-up work was conducted. This was likely due to the very weak gold-in-soil geochemical
signature over the Tomahawk Zone with values generally less than 2 ppb.
In 2019 the Company expanded the target at the Tomahawk Zone by prospecting an additional six grab
samples of epithermal quartz mineralization further afield that returned values ranging from below
detection limits to 2.96 g/t gold. Subsequent hand trenching identified in -situ mineralization and
alteration along a 55 m strike length and 15 m across the widest continuous exposure. The Tomahawk
vein zone strikes north -northeast and dips moderately westward between 45 and 70 degrees.
Interpreted dips suggest true widths are between 70 and 90 percent of th e reported surface exposures.
The vein zone remains open along strike and the hanging-wall contact has not been delineated.
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Chip and s aw channel sampling yielded anomalous gold values (>50 ppb) from the four trenches
sampled along the 55 m trend. Numerou s intervals from three of the trenches returned >100 ppb gold
with the best weighted average series of samples collected from the southernmost and lowest elevation
trench, TR-DP-04, which yielded 1.04 g/t gold across 5.25 m including 3.99 g/t gold and 14.9 g/t silver
across 1.00 m. In addition, elevated gold values (up to 613 ppb) were sampled from sections of the vein
zone where volcanic host -rocks are only weakly to moderately clay and silica altered. B ase metal
elements, which commonly occur in the deeper parts of these systems, were mostly below weakly
anomalous thresholds for all samples collected. Select intervals (>200 ppb Au) are tabulated on the
following table:
Trench From (m) To (m) Interval (m) Au (ppb)
TR-DP-01 2.00 3.00 1.00 245
TR-DP-01 3.00 4.00 1.00 235
TR-DP-02 14.00 15.30 1.30 592
TR-DP-03 6.00 7.00 1.00 243
TR-DP-04 0.00 1.00 1.00 241
TR-DP-04 2.00 3.00 1.00 283
TR-DP-04 3.00 4.00 1.00 3990
TR-DP-04 4.00 5.25 1.25 631
Sampled intervals exhibit a variety of textural features throughout the vein zone. Photographs of select
textures and complete tables of gold results can be viewed on the Company’s website
https://augoldcorp.com/tomahawk-zone/ . The most common textural features observed include:
high level angular breccias with multiple phases of silica cement and stockwork style veining; tan to
orange-brown clay altered volcanic often finely fractured with multiple generations of clear to white
sheeted quartz; and crustiform banded opaque to white quartz veining.
Magnetic Survey underway
In addition to receiving assay results for the Tomahawk Zone, the Company recently flew a high
resolution helicopter-borne magnetic gradiometer survey over Ponderosa under the guidance of
Precision GeoSurveys Inc. of Langley BC. Th e data is currently being processed and will be reviewed for
further understanding of the structural architecture of the project area as well as identifying extensions
of existing targets and new prospective areas where soil geochemical and/or prospecting anomalies
have been previously identified.
Quality Assurance and Quality Control (QAQC)
All samples were submitted to ALS Canada Ltd. in North Vancouver BC for sample preparation and
analysis. Samples were fine crushed to 70% passing 2 millimeters before a 250 gram split was pulverized
to better than 85% passing 75 microns. Pulps were then analyzed for gold using the Au-AA24 technique
which involves fire assay preparation using a 50 gram charge and an atomic absorption spectroscopy
finish.
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Multi-element analyses for 51 elements including gold were determined for all sample pulps by the ME -
MS41 procedure which utilizes a four acid digestion followed by inductively coupled plasma atomic
emission spectroscopy and inductively coupled plasma mass spectrometry.
All scientific and tech nical information in this press release has been prepared under the supervision of
William A. Wengzynowski, P. Eng., a qualified person as defined by NI 43 -101. Mr. Wengzynowski is the
Exploration Manager for Au Gold Corp.
Ponderosa Gold Property
The road accessible 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 identified 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).
Work conducted 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 Property can be found on the Company’s website :
www.augoldcorp.com/ponderosa-property/.
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
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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY
HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS
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AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD -LOOKING STATEMENTS. FORWARD-
LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE
RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT,
ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD -LOOKING
STATEMENTS.