Auryn Stakes Additional Highly Prospective Claims at Sombrero and Provides Permitting Update
Auryn Stakes Additional Highly Prospective Claims at Sombrero and Provides
Permitting Update
Vancouver, Canada – Oct. 17th, 2019 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG)
(“Auryn” or the “Company”) is pleased to announce that it has staked 8,500 hectares of additional
ground at the Sombrero North project area (Figure 1). The newly acquired claims, Macha Machay,
contain the highest copper values in stream sediments observed through Auryn’s regional exploration
program, which screened approximately 7,000 square kilometers of land on the western extension of
the world-class Andahuaylas-Yauri belt.
Macha Machay is characterized by highly elevated copper values in consecutive drainage basins over
an area of approximately 12 kilometers by 6 kilometers (Figure 2). Both leachable (CN44) and ICP results
demonstrate copper levels 1.5 -3.5 times greater than those observed at the Sombrero Main, Nioc and
Good Lucky intrusive clusters , which are all characterized by high -grade copper -gold surface
mineralization (Figures 2 & 3 ). In addition, the leachable gold results at Macha Machay are similar in
magnitude to those observed at the Sombrero Main and Nioc prospects (Figure 4). Together, the copper
and gold results in stream sediments suggest the potential to discover significant copper -gold
mineralization at or near surface.
A Message from Ivan Bebek, Executive Chairman & Director:
“In an effort to be ambitious as f irst movers on the western half of the Andahuaylas-Yauri belt, we have
taken low-cost initiatives to secure more highly prospective cl aims prior to drillin g the Sombrero Main
target in Q1 2020.
“The regional stream sediment survey results from Macha Machay contain the strongest geochemical
values we’ve seen to date . The new claims are also adjacent to our high -grade Milpoc target and
importantly, are within the Hunacasancos community land where we have an existing agreement to
conduct exploration.
“In the coming weeks we look forward to results from the seven hole summer drill program at Committee
Bay in the Arctic , extensive targeting results from Homestake Ridge in B.C. and our surface sampling
program currently underway at Curibaya in Southern Peru.”
Auryn plans to begin surface work in the near -term at Macha Machay , which will consist of follow-up
stream sediment, soil and rock sampling, as well as geological mapping to further define areas of potential
copper-gold mineralization.
Sombrero Drill Permit Update:
Auryn’s maiden drill program at Sombrero is on track to begin in Q1 of 2020. Following Auryn’s application
for drill permits on June 7th, 2019, the Company has progressed incrementally through the required steps,
and most recently, the archeological portion of the permit was received from the provincial government
in Ayacucho. Based on the current progress with the permitting process, Auryn anticipates all necessary
permits in Q1 2020.
Figure 1: Illustrates the 8,500 hectares recently staked and now forming part of the Sombrero North project area.
Figure 2: Illustrates the 12 x 6 km area at Macha Machay that demonstrated the highest copper values in the 7,000 km² regional
stream sediment survey. Note the 100 ppm copper values are at the upper detection limit for this assay techique.
Figure 3: Illustrates the 12 x 6 km area at Macha Machay that demonstrated the highest copper values in the 7,000 km² regional
stream sediment survey. These values are up to 3.5 times higher than the stream sediment observed at the the high -grade
Sombrero Main, Nioc and Good Lucky drainage basins.
Figure 4: Illustrates the leachable gold results at Macha Machay and the similarity they have in magnitude to those observed at
the Sombrero Main and Nioc prospects.
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 Sombrero
This project consists of the North Sombrero and South Sombrero properties, comprising over 120,000 mineral claims owned or
optioned by Auryn Resources. The copper-gold Sombrero mining concessions are located 340 kilometers SE of Lima in
southern Peru and are hosted in the Andahuaylas-Yauri belt. This belt is interpreted to be on the north-western margins of this
Eocene-Oligocene aged copper-gold porphyry and skarn belt that hosts the Las Bambas, Haquira, Los Chancas,
Cotambambas, Constancia, Antapaccay and Tintaya deposits. The project is characterized by a strong structural control and
significant copper and gold values from historical surface samples. The principle targets at Sombrero are copper-gold skarn
and porphyry systems and precious metal epithermal deposits.
Sombrero regional BLEG, 2019
BLEG samples were collected from stream sediments. Samples from 0.5 to 3 kg each sent to ALS Lab in Vancouver, BC for
preparation and analysis. Samples from regional BLEG survey are analyzed using Ultra-Trace Au by Cyanide Extraction and
ICP-MS finish method (Au-CN44) and ultra-trace multi-element Aqua Regia digest ICP-AES/ICP-MS method (ME-MS41L).
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.
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 inform ation 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 th e 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 Informa tion Form and MD&A for the year
ended December 31, 2018 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.
Disclaimer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.