Auryn Identifies New High-Grade Targets at Curibaya Precious Metals Project in Peru
Auryn Identifies New High-Grade Targets at
Curibaya Precious Metals Project in Peru
Vancouver, Canada – Feb 28th, 2020 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG)
(“Auryn” or the “Company ”) is pleased to announce results from its recent mapping and sampling
program at the Curibaya precious metals project in southern Peru . A new zone of mineralization with
grades of up to 946 g/t silver and 1.96 g/t gold has been identified approximately one kilometer to the
northeast of previous sampling (Figures 2 & 3). In addition, a float sample found 800 meters northeast of
the sampled veins ran 42.6 g/t gold and 9,180 g/t silver (Figures 2 & 3). Through geological mapping,
a series of rhyolite to dacite flow dome complexes has been identified , and Auryn’s technical team
believes this is the source for the widespread, high-grade precious metal veins sampled to-date –now
across a 4 x 4 kilometer alteration system.
A Message from Ivan Bebek, Executive Chairman & Director:
“The Curibaya project continues to represent an exceptional opportunity for high -grade silver and gold
discoveries. As we are increasing our understanding of the targets the maximum gold grade has gone
up and we continue to see multi -kilo silver in new target areas on the project. We look very forward to
completing our targeting in the next few months and rapidly advancing the project to the drill-ready stage.”
Geologic Context of Vein Mineralization:
The high-grade precious metal veins sampled to-date on the project range in width from five centimeters
to one meter and are situated in north – south corridors radiating from the identified flow dome complexes
(Figure 1). The sampled veins are primarily situated in the overlying volcanic sequence abov e the flow
dome complexes and provide a good indication of the metal budget ; however, are not the target
themselves. Auryn believes the veins represent a high-level dispersion of a robust precious metal system
that is situated along the margins of the dome complexes at shallow depths. These flow dome complexes
provide a geological mechanism to concentrate fluid flow where potential geologic targets include high-
grade veins, vein stockwork zones and silicified hydrothermal breccias that would be situated along
the margins of the domes (Figure 4).
Additional Vein Sampling Returns High-Grade in Previously Unsampled Area:
Auryn has continued to selectively sample veins to identify favourable structural corridors radiating from
identified flow dome complexes . The results of this sampling ha ve identified a previously u nrecognized
set of high-grade veins that Auryn believes is related to a shallowly buried dome target zone on the north
side of the Sambalay Chico fault zone (Figures 2 & 3). Grades of up to 9 46 g/t silver and 1.96 g/t gold
have been sampled from this vein corridor that has an approximate strike length of 400 meters to -date.
In addition, a float sample 800 meters to the northeast that has returned grades of up to 9,180g/t silver
and 42.6g/t gold will be followed up on in the next round of field work. Rock grab sample highlights are
shown below in Table 1.
Table 1: Rock sampling results
Significant Rock Samples 2020
Sample ID Ag g/t Sample ID Ag g/t Sample ID Au g/t
W657087 9180 W657060 210 W657087 42.6
W657003 6940 W657125 164 W657003 15.6
W657132 2290 W657058 141 W657132 7.62
W657124 1445 W657007 119 W657124 4.92
W657057 1190 W657089 114 W657104 4.84
W657104 1015 W657131 112 W657005 4.84
W657084 946 W657121 96.7 W657061 4.78
W657136 874 W657088 87.2 W657006 2.76
W657116 807 W657134 77.5 W657103 2.07
W657061 783 W657092 73.8 W657116 1.94
W657117 736 W657114 72.5 W657118 1.94
W657103 732 W657105 69.5 W657008 1.89
W657008 663 W657137 68.9 W657135 1.74
W657118 514 W657126 67.8 W657120 1.39
W657083 494 W657075 66.4 W657084 1.35
W657006 468 W657091 57.6 W657129 1.2
W657085 403 W657100 55.1 W657125 1.17
W657120 373 W657059 54.1 W657057 1.17
W657005 359 W657085 1.07
W657111 332 W657004 1.06
W657112 321 W657060 0.93
W657129 285 W657134 0.88
W657063 270 W657066 0.81
W657119 263 W657136 0.73
W657004 257 W657131 0.67
Future Work:
Drill targets will be developed at the margins of the domes at depths between 100 – 300 meters from
surface. They will be developed through continued geological and alteration mineral mapping, targeted
rock sampling along the margins of the dome complexes and gr ound based geophysical IP surveys to
identify zones of elevated sulphide content (Figure 4). Auryn’s goal is to apply for an FTA drill permit that
will allow for up to 20 drill pads.
A Message from Michael Henrichsen, C.O.O & Chief Geologist:
“The presence of high-grade silver-gold veins across the 4 x 4 kilometer alteration system demonstrates
the robust metal endowment within the Curibaya project. Our recent work has identified multiple flow
dome complexes that provide the mechanism to concent rate high-grade veins at the margins of these
features. The targets we are developing are exciting as we believe they could host a robust precious
metals system.”
Figure 1: Illustrates the north-south trending high-grade vein corridors radiating from a series of flow dome complexes identified
in the the 4 x 4 kilometer alteration system. Auryn believes these domes are the source of the high-grade veins sampled across
the project to-date.
Figure 2: Illustrates additional silver values from vein samples taken across the project area. Importantly, Auryn has identified a
new north-south trending corridor of veins over approximately 400 meters that is situated at the margins of the newly recognized
Cambaya flow dome complex.
Figure 3: Illustrates additional gold values from vein samples taken across the project area. Importantly , Auryn has identified a
new north-south trending corridor of veins over approximately 400 meters that is situated at the margins of the newly recognized
Cambaya flow dome complex.
Figure 4: Illustrates a conceptual model of the targets at the Sama, Sambalay and Cambaya flow dome complexes and where
the targets are situated with respect to the present level of erosion as indicated by the dashed black line. Geologic targets at the
margins of the dome complexes include high-grade veins, vein stockwork zones and silicified hydrothermal breccias.
Michael Henrichsen (Chief Operating Officer), P.Geo is the QP who assumes responsibility for the
technical contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
Ivan Bebek
Executive Chairman and Director
For further information on Auryn Resources Inc., please contact Natasha Frakes, Manager of Corporate
Communications at (778) 729-0600 or [email protected]
About Auryn
Auryn Resources is a technically-driven, well-financed junior exploration company focused on finding and advancing globally
significant precious and base metal deposits. The Company has a portfolio approach to asset acquisition and has seven
projects, including two flagships: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project
in southern Peru. Auryn’s technical and management teams have an impressive track record of successfully monetizing assets
for all stakeholders and local communities in which it operates. Auryn conducts itself to the highest standards of corporate
governance and sustainability.
About Curibaya
Auryn acquired 100% ownership of the Curibaya property in 2015 and the adjacent Sambalay and Salvador concesssions in
2019, which collectively consist of approximately 11,000 hectares. The Curibaya project covers the regional Incapuquio fault
zone and subsidiary structures, which are interpreted as one of the fundamental controls for both epithermal and porphyry
styles of mineralization within the region.
Historic Grab Samples – Sambalay and Salvador
The historic grab samples on Sambalay and Salvador were collected by Teck (in 2010-2011), Compania de Exploraciones
Orion SAC (2010-2011) and Wild Acre Metals (in 2012-2013). Auryn has not conducted any due diligence on whether
appropriate QA/QC protocols were followed in the collection of these samples, nor can it confirm their accuracy or
repeatability.
PERU Rocks 2019/2020 (Curibaya)
Approximately 2-3kg of material was collected for analysis and sent to the ALS Lab in Lima, Peru for preparation and analysis.
All samples are assayed using 30g nominal weight fire assay with ICP finish (Au-ICP21) and multi-element four acid digest ICP-
AES/ICP-MS method (ME-MS61). Where ICP21 results were > 3 g/t Au the assay wer e repeated with 30g nominal weight fire
assay with gravimetric finish (Au-GRA21). Where MS61 results were greater or near 10000 ppm Cu, 10000ppm Pb or 100ppm
Ag the assay were repeated with ore grade four acid digest method (Cu -OG62). For three samples where OG62 results were
greater or near 1500ppm Ag the assay were requested to be repeated with 30g nominal weight fire assay with gravimetric finish
(Ag-GRA21), results pending. QA/QC programs for 2019/2020 rock samples using company an lab duplicates, stand ards and
blanks indicate good accuracy and precision in a large majority of standards assayed.
Forward Looking Information and Additional Cautionary Language
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 associa ted
with the acquisition and title to mineral concessions. These statements involve kno wn and unknown risks, uncertainties 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, 2018 and subsequent continuous disclosure filings with the Canadian Securities Adminis trators 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.
Disclaimer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.