Auryn drills 9.15 meters of 3.48 g/t gold at Committee Bay and provides exploration update
Auryn drills 9.15 meters of 3.48 g/t gold at Committee Bay and
provides exploration update
Vancouver, British Columbia – August 24th, 2017 – Auryn Resources Inc. (TSX: AUG,
NYSE American: AUG, “Auryn” or the “Company”) is pleased to announce initial results from
its summer exploration drill program at the Committee Bay Gold Project located in Nunavut,
Canada. The results represent 15% or 21 holes out of 148 holes currently drilled across 18
targets in the belt this summer (see Figure 1). Highlights include 9.15 meters of 3.48 g/t Au
and 1.5 3 meters of 7.48 g/t Au which ended in mineralizatio n where the hole was lost at
West Plains. West Plains remains open at depth (See Figure 2).
Committee Bay program highlights:
Drilling 5 additional targets (total drilled targets increased from 13 to 18)
Increased drill meters from 25,000 to 29,000
Extended high-grade mineralization to a vertical depth of 150 meters
Purchased $1.8 million of fuel for a 2018 drill program
President and CEO, Shawn Wallace stated, “We are pleased with the results we have seen to
date and the level of efficiency of the work completed this season. The Committee Bay
summer program is a considerable undertaking both technically and logistically. We are
looking very forward to receiving the results of the remaining 25,000 meters as we have tested
the most robust targets on the belt that we have found to date.”
Mr. Wallace further state d, “this is an exciting time for Auryn shareholders as we enter a busy
season of results from the Committee Bay and Homestake drill programs. Surface exploration
is also currently underway in Peru ahead of drilling later this year.”
Rotary Air Blast (RAB) Drilling Results:
The RAB drill program undertaken this year was designed to test new target structures
underneath till cover and to drill the source rock of gold -in-till anomalies and mineralized
boulder trains. To date 15% of the results have been received, with the compl ete results from
the West Plains, Ziggy South, and Av inngaq targets reported in T able 2 below. The summer
exploration RAB drill program has approximately 25,000 meters in 127 holes remaining
to be released in the coming months.
Michael Henrichsen, Chief Geologist and COO of Auryn commented, “ drilling at the West
Plains target demonstrates that high -grade mineralization continues down plunge to a vertical
depth of 150 meters. The West Plains target is considered an important target to explore to
depth as the alteration associated with gold mineralization is very strong with widths of 40 to 80
meters of sulphidized banded iron formation being encountered.”
Mr. Henrichsen further stated “We are very encouraged by several targets in the belt with
pending ass ays where we successfully intersected highly su lphidized banded iron formation
similar in nature to that of the Three Bluffs deposit.”
Results from both the Ziggy South and Avinngaq prospects encountered anomalous gold over
narrow widths but are not deemed to be significant.
Table 1:
Significant Intercepts - RAB 2017
Prospect Hole ID From (m) To (m) Interval (m) Au (g/t)
West Plains 17WPR051 94.49 100.58 6.09 0.83
160.02 161.54 1.52 0.30
166.12 170.69 4.57 1.37
West Plains 17WPR052 12.19 15.24 3.05 0.93
103.63 109.73 6.10 0.36
115.82 135.64 19.82 1.60
including 126.49 135.64 9.15 2.89
West Plains 17WPR053 96.01 99.06 3.05 1.30
105.16 120.40 15.24 0.43
137.16 143.26* 6.10 2.54
including 141.73 143.26* 1.53 7.48
West Plains 17WPR054 76.20 83.82 7.62 0.21
West Plains 17WPR055 70.10 77.72 7.62 0.23
96.01 97.54 1.53 0.53
121.92 129.54 7.62 0.37
134.11 135.64 1.53 0.82
143.26 144.78 1.52 0.79
161.54 170.69 9.15 3.48
including 161.54 167.64 6.10 4.93
West Plains 17WPR056 132.59 135.64 3.05 0.45
149.35 150.88 1.53 0.39
153.92 156.97 3.05 1.20
178.31 179.83 1.52 0.49
Avinngaq 17TXR005 105.16 106.68 1.52 0.52
Ziggy South 17ZSR002 156.97 158.5 1.53 0.27
Ziggy South 17ZSR003 73.15 74.68 1.53 1.72
77.72 82.3 4.58 0.45
123.44 124.97 1.53 0.35
Ziggy South 17ZSR004 44.2 45.72 1.52 0.38
Ziggy South 17ZSR005 100.58 102.11 1.53 1.67
Ziggy South 17ZSR006 178.31 179.83 1.52 0.26
Ziggy South 17ZSR008 35.05 36.58 1.53 0.25
* Hole terminated in mineralization
** True widths of mineralization are unknown based on current geometric understanding of the
mineralized intervals.
Additional Targets:
The five additional targets being drilled were identified by a combination of gold -in till -
anomalies and outcropping mineralization. Of particular note are the Kin ng Mountain and
Kinng Gold targets in the northeast third of the belt ( see Figure 3) where Auryn is currently
drilling under high -grade surface minerali zation in sulphidized banded iron formation . This
surface mineralization is defined by historic grab samples, highlights of which are outlined in
Table 2 below.
Table 2: Grab Samples from Kinng Gold and Kinng Mountain targets
Target Disposition Au (g/t)
Kinng Gold Outcrop 15.12
Boulder 7.89
Outcrop 4.05
Kinng Mountain Outcrop 40.04
Outcrop 35.9
Outcrop 11.35
Boulder 9.47
Outcrop 7.27
Felsenmeer 6.79
Outcrop 1.41
Felsenmeer 1.04
Boulder 2.54
Outcrop 2.02
Outcrop 1.68
Felsenmeer 1.44
Felsenmeer 1.02
Michael Henrichsen, P.Geo, COO of Auryn, is the Qualified Person who assumes
responsibility for the technical disclosures in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
Shawn Wallace
President and CEO
For further information on Auryn Resources Inc., please contact Jay Adelaar, Vice -President of Investor
Relations at (778) 729-0600 or [email protected]
About Auryn
Auryn Resources is a technically driven junior mining exploration company focused on delivering
shareholder value through project acquisition and development. The Company’s management team is highly
experienced with an impressive track record of success and has assembled an ex tensive technical team as
well as a premier gold exploration portfolio. Auryn is focused on scalable high -grade gold deposits in
established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold projects
located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in
southern Peru, through Corisur Peru SAC.
Forward Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. Forward-looking
information is information that includes implied future performance and/or forecast information including
information relating to, or associated with the acquisition and title to mineral concessions. These statements
involve known and unknown risks, uncer tainties and other factors which may cause actual results,
performance or achievements of the Company to be materially different (either positively or negatively) from
any future results, performance or achievements expressed or implied by such forward -looking statements.
Readers should refer to the risks discussed in the Company’s Annual Information Form and MD&A for the
year ended December 31, 2016 and subsequent continuous disclosure filings with the Canadian Securities
Administrators available at www.sedar.com and the Company’s registration statement on Form 40 -F filed
with the United States Securities and Exchange Commission and available at www.sec.gov.
Committee Bay RAB Drilling QA/QC Disclosure
Intercepts were calculated using a minimum of a 0.25 g/t Au cut off at beginning and end of the intercept and
allowing for no more than four consecutive samples (six meters) of less than 0.25 g/t Au.
Analytical samples were taken using 1/8 of each 5ft (1.52m) interval material (chips) and sent to ALS Lab in
Yellowknife, NWT and Vancouver, BC for preparation and then to ALS Lab in Vancouver, BC for analysis.
All samples are assayed using 30g nominal weight fire assay with atomic absorptio n finish (Au -AA25) and
multi-element four acid digest ICP -AES/ICP-MS method (ME -MS61). QA/QC programs using internal
standard samples, field and lab duplicates and blanks indicate good accuracy and precision in a large
majority of standards assayed.
Disclaimer
The Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Figure 1: Illustrates the targets that have been drilled at the Committee Bay Gold proje ct.
Results that have been reported are highlighted by the yellow text boxes.
Figure 2: Illustrates the results from the West Plains drilling in the Southwest region of the
Committee Bay Gold project. The high -grade shoot has a vertical continuity to 150 meters
depth and is open for expansion.
Figure 3: Illustrates high grade historical grab samples at both Kinng Mountain and Kinng Gold
targets.