Georgie River Project: Drill Permit Update and Core Review Progressing
FOR IMMEDIATE RELEASE TSX V: AUX
September 30, 2019
GEORGIE RIVER PROJECT:
DRILL PERMIT UPDATE and CORE REVIEW
PROGRESSING
Vancouver, British Columbia – Auramex Resource Corp. (the “Company” or “Auramex”)
(TSX.V: AUX) announces it has received notification from the Ministry that review of its
proposed work program, including drilling, for the Georgie River property is complete. The final
requirement in the permitting process is the posting of a $21,000 security deposi t due before July
1, 2020. The project is located on tidewater in the southern Golden Triangle of British
Columbia, 16 kilometres south of the deep -water port of Stewart. The 100% o wned 7,936
hectare project includes the historic Georgia River Mine, a high -grade gold mine that last
operated in the 1930s.
In addition, the Auramex geological team reports on progress from the review of approximately
12,000 metres of drill core on the property from previous operators. Th at core was drilled from
1978 to 1996 by multiple companies, with drilling focused at the historic high -grade Georgia
River gold mine. The mine area, previously under option to another junior company, was
recovered by Auramex in May of this year.
A program of re -boxing and cataloguing of the historic core began in July . At present, the
geological team is working from a camp on the property and is carrying out a comprehensive
review of the core using an array of analytical tools and techniques.
The geological data obtained from the historic core analysis is a cost-effective opportunity that is
providing valuable technical information which the Auramex team will use to design the next
drill program. Results from the work to date confirms that a large amount of valuable
information can be extracted from the drill core. That information will greatly enhance the
effectiveness of a drill program, now set for spring.
The initial Auramex drill program is intended to:
- Validate the extensive drill hole data base;
- Further extend the known high-grade occurrence, laterally and to depth;
- Most importantly : to test the large -scale potential of this extensive gold -bearing
hydrothermal system.
Auramex has confirmed that the area of the high -grade historic mine is merely one small near -
surface expression of an extremely large gold -bearing hydrothermal system. Mapping to the
southwest of the mine located a 750 m -wide, southwest -dipping zone of shearing (the Hume
Creek Deformation Zone or HCDZ). An airborne versatile time -domain electromagnetic (V -
TEM) survey identified a one square kilometer area of anomalously high electromagnetic
20th Floor, 250 Howe Street
Vancouver, BC V6C 3R8 Canada
Tel: 604-914-2142
NR #2019-13
- 2 -
response over the HCDZ along the ridge crest. This is interpreted as an area of anomalously high
conductivity, believed to be associated with the passage of metal -bearing hydrothermal fluids
through that zone of permeability. It is bel ieved that the hydrothermal system is related to an
Early Jurassic intrusion. This situation is similar to the major gold deposits in the Golden
Triangle.
Evidence suggests that the high -grade, near-surface zone that was historically mined is directly
related to that hydrothermal system. The objective now is to identify areas within the system
with similar, and ideally larger, gold occurrences to the known zone.
Auramex will be reporting on results and interpretations from this review over the coming
months as information is available.
The technical disclosure in this release has been read and approved by Dr. Paul Metcalfe, PhD,
P.Geo., a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
For further information, contact:
Nancy Curry
Corporate Communications
www.auramex.com.
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.