AUX Commences 3,500 Metre Drill Program on the Georgia Project in The Golden Triangle
AUX Commences 3,500 Metre Drill Program on
the Georgia Project in The Golden Triangle
VANCOUVER, BC
,
Aug. 10, 2020
/CNW/ - AUX Resources Corporation
(TSXV: AUX) is pleased
to announce that it has commenced a two-drill, 3,500 metre diamond drill program on its flagship
high-grade gold Georgia Project, including the past-producing Georgie River Mine, located on
tidewater 16 kilometres south of the town of
Stewart, British Columbia
, in the prolific Golden
Triangle.
"We are all excited to have the drills turning on the Georgia Project", comments
Ian Slater
, Chief
Executive Officer. "Historic drilling of the deposit indicates exceptional gold grades in a system that
was never drilled off. Our new model suggests that the historic intercepts were at the periphery of a
much larger mineralized system, and we are eager to test the team's ideas."
Over the past decade AUX has been consolidating the land package surrounding the Georgie River
Mine, compiling and re-interpreting the historic data, as well as advancing the geologic
understanding through improved mapping, sampling, and geophysics. This work ultimately
generated a new genetic model for the mineralization in the area. This model, supported by a robust
data set, suggests the presence of a large intrusion-related mineralizing system – of which the
Georgie River Mine is situated at the margin. This drill program will be the first test of this new and
innovative model for mineralization in the area. Drilling will focus on:
Extending known ore shoots from the past-producing Georgie River Mine;
Testing newly developed, highly prospective targets outside of the known deposit; and
Assessing and substantiating the non-compliant historic high-grade resource at the Georgie
River Mine.
About the Georgia Project
The 7,900 hectare high-grade gold Georgia Project, including the past-producing Georgie River
Mine, is located on tidewater 16 kilometres south of the town of
Stewart, British Columbia
, in the
prolific Golden Triangle. The Georgie River Mine, which last operated in 1939, contains 1.2
kilometres of underground access on three levels. The project has been explored since the 1970s
by several companies with the intent of restarting the mine, but this historic work focused almost
exclusively on the area hosting the existing mine workings, which appears to be peripheral to the
core of a much larger hydrothermal system. Only a small part of this massive hydrothermal system
was worked by the past producing mine.
Work by AUX over the past few field seasons has generated compelling evidence in support of a
large intrusion-related gold target adjacent to the area of previous work. The Hume Creek target
zone is marked by anomalous surficial samples, the cross-cutting regional Sovereign Fault, a
coincident conductivity high, and an Early Jurassic intrusion belonging to the Texas Creek Plutonic
Suite – a crucial component to large gold deposits in the Golden Triangle. Surface samples spanning
more than a square kilometre in the vicinity of the Sovereign Fault carry gold values in excess of a
gram per tonne, demonstrating the extensive nature of the system.
About AUX Resources
AUX holds more than 25,500 hectares of strategic claims in the Stewart Mining Camp in the Golden
Triangle of
British Columbia
, which is among the world's most prolific mineralized districts, including
the high-grade Georgia Project and the past-producing Georgie River Mine. AUX is also actively
consolidating property in the Stewart Mining Camp.
The technical disclosures in this release has been read and approved by Dr.
Paul Metcalfe
, Ph.D.,
P.Geo., a director of AUX and Vice President Exploration, a qualified person as defined in National
Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release. This news release includes forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements of historical fact, are to be considered
forward looking. Although the Company believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in forward-
looking statements. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration successes,
continued availability of capital and financing, and general economic, market or business
conditions and regulatory and administrative approvals, processes and filing requirements. There
can be no assurances that such statements will prove accurate and, therefore, readers are advised
to rely on their own evaluation of such uncertainties. We do not assume any obligation to update
any forward-looking statements.
SOURCE
Auramex Resource Corp.
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http://www.newswire.ca/en/releases/archive/August2020/10/c1752.html
%SEDAR: 00005611E
For further information:
please see www.auxrc.com or contact: Ian Slater, Chief Executive
Officer, +1 604 638 2545, [email protected]; Mars Investor Relations, +1 604 715 6845,
CO: Auramex Resource Corp.
CNW 05:00e 10-AUG-20