Auryn prepares to drill Aiviq discovery and provides Committee Bay update
Auryn prepares to drill Aiviq discovery and provides Committee Bay
update
Vancouver, British Columbia – February 6, 2018 – Auryn Resources Inc. (TSX: AUG, NYSE
American: AUG) (“Auryn” or the “Company ”) is pleased to announce it has further refined
drill targets at the 2017 high-grade Aiviq discovery, the details of its March 2018 planned spring
drill program, and additional results from the Committee Bay 2017 summer program.
Ivan Bebek, Executive Chairman of Auryn stated, “The Aiviq opportunity at Committee Bay not
only offers significant discovery potential, it also lies within 12 km of our existing infrastructure at
Three Bluffs. As a result, we now have the opportunity to drill Committee Bay both in the spring
and summer months.”
Mr. Bebek further stated, “We are also excited to be cur rently drilling Huilacollo, the first of 4
highly prospective Peruvian p rojects. We are making positive headway in the communities
around both the Sombrero and Baños Del Indio gold projects. 2018 will be a busy year for Auryn
as we add significant shareholder value through discoveries across the global portfolio.”
Aiviq Infill Till Results:
The Aiviq discovery drill hole (12.2 meters at 4.7g/t Au) is situated along a 7 kilometer long shear
zone that is shedding high-grade boulders and gold-in-tills that was discovered from Auryn’s belt
wide regional till survey. Four new high -resolution targets have been defined from infill tills
analyzed for gold on 100 meter by 100 meter spacing and will form the basis of Auryn’s follow-
up drill program to expand on the Aiviq discovery.
During the 2017 till program, Auryn analyzed indicator elements for gold using portable X -Ray
fluorescence technology; however, due to time constraints during the program the till samples
were not assayed for gold. Subsequent to the completion of the 2017 program, these till samples
were sent to ALS laboratories for ICP analysis to analyze for gold. The results were very positive
as they spatially overlapped the discovery hole at Aiviq with a 500-meter long gold-in-till anomaly
and defined three additional target areas totaling 3.0 kilometers of strike length (figure 1) .
Auryn’s technical team considers the infill till data as a critical step in the advancement of our
exploration process to further define the source areas of gold mineralization under till cover.
Figure 1: Illustrates the drill plan for targets defined by gold-in-till targets and high-grade
boulders. Together these targets cover more than 3 kilometers of gold in till signatures
and represent Auryn’s highest confidence in new discovery targets on the Committee
Bay Gold Project to date.
Discovery follow-up drilling around drill hole 17RGR003 will be conducted on 25, 50, and 100-
meter step outs covering a total of 350 meters to define a potential deposit footprint. The targets
located to the northeast of the discovery are supported by infill tills and high-grade boulders with
the drill plan being represented by the green drill collars on Figure 1.
Michael Henrichsen, COO and Chief Geologist stated, “We are very excited to begin follo w up
drilling on our 2017 Aiviq discovery. The additional layer of infill till results provides Auryn’s
technical team a higher degree of confidence in defining potential source areas of gold
mineralization. These results clearly show the overlapping nature of high- grade mineralization
in drilling with gold in tills and high-grade bolder trains. Each target at Aiviq provides Auryn with
the possibility of a significant discovery in this highly prospective shear zone.”
Three Bluffs Targeting:
Targeting at the Three Bluffs deposit will be based on the on- going re- log of the deposit to
determine the structural controls on high- grade mineralization and geophysical modeling to
target the continuation of the high-grade hinge zone of the deposit to the north east (figure 2).
The goal of the spring 2018 drill program at the deposit is to both expand the resource and to
explore for new zones of mineralization that were previously untested.
Figure 2: Illustrates a long-section of the Three Bluffs deposit with the target area for the
spring drill program highlighted. The drill program has two goals; to expand the resource
and to explore for previously unrecognized mineralized zones to the northeast.
Balance of 2017 Committee Bay Drill Results:
Additional highlights from 2017 exploration RAB drilling include 10.7 meters of 0.62g/t Au from
the Mist prospect, 4.6 meters of 1.0g/t Au from the Koffy prospect, and 3.05 meters of 1.73g/t
Au from the Kinng Mountain prospect in the NE region of the belt (Figure 3). Although
understated, Auryn considers these first pass results important as they demonstrate gold bearing
systems with multi -kilometer long potential based on gold- in-till anomalies and magnetic
stratigraphy. Further evaluation of these target areas will be focused on gold analysis of the infill
tills collected during the 2017 summer program to define high-resolution targets.
Figure 3: Illustrates the location of significant intercepts from the first pass RAB drilling
2017 summer program in the northeast region of the Committee Bay Gold Project. The
yellow polygons represent the areas where infill till samples will be assayed for gold to
define additional drill targets.
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.
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 extensive 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, 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, 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.
Cautionary Statements and Technical Disclosures
Committee Bay Infill Till QA/QC Disclosure
Till samples were collected mostly from active frost boils. Samples are screened using
0.425um screen analyzed using 50g nominal weight trace level Au by aqua regia extraction
and ICP-MS finish method (Au-TL44) on a -425um fraction. QA/QC programs using internal
standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and
precision in a large majority of standards assayed.
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 absorption 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.
True widths of mineralization are unknown based on current geometric understanding of the
mineralized intervals.