Auryn Identifies 12 Drill Targets at Committee Bay and Plans to Expand the Three Bluffs Resource
Auryn Identifies 12 Drill Targets at Committee Bay and Plans to
Expand the Three Bluffs Resource
Vancouver, Canada – September 29, 2020 – Auryn Resources Inc. (TSX: AUG, NYSE
American: AUG) (“Auryn” or the “Company ”) is pleased to announce twelve refined targets
across the Committee Bay gold belt in Nunavut that aim to leverage the targeting breakthrough along
the Kalulik – Aiviq structural corridor and the Anuri target area, as well as expand upon the Three
Bluffs deposit. The targets are within known gold -bearing systems and were derived using the
technical team’s critical new understanding of high-grade (+5 g/t gold) systems across the belt based
on geophysical conductivity data collected since Auryn has worked on the project. The 2019 targeting
breakthrough enabled Auryn to empirically d etermine the system drivers that define high -grade
across the belt, as presented in Figure 1.
The planned 2021 summer drill program will test both target extensions at the Three Bluffs deposit
as well as several regional greenfield targets (Figures 2-9).
A Message from Ivan Bebek, Executive Chairman & Director:
“Committee Bay is one of few exploration opportunities globally with the potential for multiple world-
class gold discoveries. Our confidence has grown considerably over the past five years as our
technical team’s targeting methods have evolved. We are excited to capitalize on our extensive work
to-date with Fury Gold Mines in the current gold environment.”
Target Types:
There are two principal target types that have been derived through the relationships between the
highest conductivity responses and their association with magnetics data. The gold-bearing systems
directing the targets have been defined either by drilling, gold-bearing boulder trains, or gold in till
anomalies (Figure 2). The two target types are defined as follows:
• Iron Formation Hosted in Sediments: where high conductivity responses are associated with
sulphidation of the host rock and slightly subdued magnetic responses that are associated
with demagnetization of the iron formation due to hydrothermal alteration.
• Iron Formation – Komatiite Couplets: where high conductivity responses and high magnetic
responses are offset from each other. The target in this case is the gradient where high
conductivity and high magnetic responses are adjacent to each other.
Three Bluffs Deposit Targets:
There are two approaches with respect to targeting at the Three Bluffs deposit : 1) Resource
expansion where Auryn has interpreted geophysical data to be associated with potential second
order fold hinges within the anticline that hosts the Three Bluffs deposit, and 2) Defining new pods
of mineralization along sub-parallel fold hinges to the north of the Three Bluffs deposit.
Resource expansion targets associated with i nterpreted second order fold hinges within the Three
Bluffs anticline are presented in Figures 3 & 4. In Figure 3, Target 1 located near the eastern margins
of the deposit is situated below the limit of drilling of the deposit at a vertical depth of 370 – 530
meters. In Figure 4 the Antler target is located in the western portion of the deposit beneath 20 – 25
meters of 2 g/t Au mineralization in drill holes. The widening of magnetics data associated with high
conductivity values suggests the potential of a second order fold hinge at a vertical depth between
350 – 600 meters.
Targets focused on defining new pods of gold mineralization adjacent to the current resource are
presented in Figure 3. Targets 2 & 3 are associated with interpreted sub -parallel folds to the Three
Bluffs anticline. These targets are characterized by high conductivity responses situated at 200 –
420 meters and 300 – 530 meters depth beneath the surface. Both targets are undrilled and are
associated with magnetic gradients interpreted as hydrothermal alteration.
Aiviq – Kalulik Corridor & Anuri Targets:
Along the Aiviq – Kalulik 20 km structural corridor a high conductivity fold hinge zone has been
defined through the leveling of the conductivity data by lithology. At the Aiviq target, a high
conductivity fold hinge has been defined that is coincident with high-grade boulder trains. It is situated
four kilometers northeast of Auryn’s previous drilling, where 12.2 meters of 4.7g/t Au was intercepted
within a sequence of highly silicified and sulphidized iron formations (Figures 5 & 6) (see September
14, 2017 news release). This target is characterized by a high conductivity response and a magnetic
low that is consistent with an iron formation that is interpreted to be hydrothermally altered.
The Kalulik target is characterized by an iron formation – komatiite couplet within a broad synclinal
fold hinge where high conductivity values are offset from magnetic highs. Previous shallow drilling
from Auryn has intercepted 16.8 meters at 0.49 g/t Au and 16.8 meters at 0.45 g/t Au in areas above
interpreted hinge zones. The conceptual drill holes target high conductivity features immediately
adjacent to magnetic highs (Figure 7).
The Anuri targets (Anuri and Enigma Lake) are characterized by fold hinges that host iron formation
– komatiite couplets within a broad flat lying fold (Figures 8 & 9). These targets are supported by the
strongest gold-in-tills response within the Committee Bay gold belt and numerous high-grade boulder
trains. Previous historical drilling of up to 14.8 meters at 2.66 g/t Au and 13.7 meters of 1.91 g/t Au
has not intercepted the gradient between the high conductivity and magnetics signatures that
represent the primary hinge zone targets. There is a total of six geophysical targets within the flat
lying fold at Anuri that remain completely untested.
A Message from Michael Henrichsen, COO & Chief Geologist:
“We have drilled the desired widths of gold mineralization at Committee Bay, however targeting high-
grade gold through the thin layer of till cover that obscures the mineralized systems has been a
challenge. We believe our major geophysical breakthrough is essential for targeting high-grade
through the till sequences and look forward to our 2021 drill program.”
Figure 1: Illustrates the system drivers for high-grade mineralization within the Committee Bay gold belt. Note that the high-grade
mineralization (in-situ) is associated with the highest conductivity values as illustrated by the Three Bluffs deposit and the West
Plains and Anuri prospects.
Figure 2: Illustrates the location of newly derived drill targets across the Committee Bay gold belt.
Figure 3: Illustrates three high conductivity targets associated with the Three Bluffs deposit. Target 1 is considered a resource
expansion; whereas targets 2 and 3 are aiming to define new pods of mineralization along interpreted second order folds within
the larger Three Bluffs antiform.
Figure 4: Illustrates the resource expansion Antler target where both conductivity and magnetics data expand at depth beneath
the drilled mineralization. The expansion of these geophysical signatures is interpreted as a second order fold hinge zone target.
Figure 5: Illustrates the Aiviq hinge target to the northwest of Auryn’s 2019 drilling where a strongly altered hydrothermal system
was encountered along the southern limb of a regional syncline. The hinge zone has not been drilled and is associated with
high-grade boulders up to 27 g/t Au.
Figure 6: Illustrates the Aiviq hinge target to the northwest of Auryn’s 2019 drilling where a strongly altered hydrothermal system
was encountered along the southern limb of a regional syncline. The hinge zone is characterized by a magnetic low , indicating
the potential for strong hydrothermal alteration, and a conductivity high, indicating the potential for sulphidation.