AUX Mobilizes Field Crew and Commences 2020 Exploration Program at the Georgia Project in the Golden Triangle
AUX Mobilizes Field Crew and Commences
2020 Exploration Program at the Georgia
Project in the Golden Triangle
VANCOUVER, BC
,
July 14, 2020
/CNW/ -
AUX Resources Corporation
(TSXV: AUX) (formerly
Auramex Resource Corp.) is pleased to announce that it has mobilized its geological field crew to its
flagship high-grade gold Georgia Project, including the past-producing Georgia River Mine, located
on tidewater 16 kilometres south of the town of
Stewart
, British Colombia, in the prolific Golden
Triangle.
The 2020 field program will be centred around drill testing the Georgia Project. Fieldwork over the
past few years has indicated the presence of a large mineralizing system, of which the past-
producing Georgia River Mine is situated just at the periphery. To test the system, more than 3,500
metres of diamond drilling are planned, focusing on mineralization around the past-producing mine as
well as targets within the adjacent Hume Creek Deformation Zone.
"Fully funded, we are eager to drill test Dr. Metcalfe's compelling geological model for the
mineralization around the Georgia River Mine", comments
Ian Slater
, Chief Executive Officer. "This is
excellent timing to advance and expand an under-explored high-grade gold system in the Golden
Triangle."
In addition to drilling, the 2020 summer exploration program will include detailed geological mapping,
geochemical sampling, and geophysics of key exploration targets on the Georgia Project, as well as
other AUX claim blocks.
11,750 metres of drill core from previous operators of the Georgia River Mine was only sampled for
narrow high-grade intercepts, with the majority of the core not being sampled. This core is currently
being relogged and sampled in its entirety. Shoulder sampling between high-grade intervals has the
potential to define broad intervals of economic mineralization that were previously undocumented.
This additional data provides a cost-effective method to leverage the additional 3,500 metres of
drilling in 2020, rapidly advancing the project relative to the exploration expenditure.
About the Georgia Project
The 7,900 hectare high-grade gold Georgia Project, including the past-producing Georgia River
Mine, is located on tidewater 16 kilometres south of the town of
Stewart
, British Colombia, in the
prolific Golden Triangle.
The Georgia River Mine, which last operated in 1939, contains 1.2 kilometres of underground
access on three levels. The project was explored from 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 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. The regional-scale Hume Creek
deformation zone provided the "plumbing system" for hydrothermal fluids related to the intrusion.
Surface samples spanning more than a square kilometre 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 Georgia River Mine. AUX is actively
consolidating 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/July2020/14/c8666.html
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For further information:
please see www.auxrc.com or contact: Ian Slater, Chief Executive
Officer, +1 604 638 2545, [email protected]; Michelle Borromeo, Investor Relations,
CO: Auramex Resource Corp.
CNW 05:00e 14-JUL-20