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Auryn Resources Inc.
Summary
| Project: | Homestake Ridge | |
|---|---|---|
| Deposit: | Homestake Ridge | |
| Location: | Canada | |
| Commodities: | Copper-Lead-Gold-Silver | |
| Date: | 5/29/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-5-2020: Auryn Resources Inc. announces a PEA report for its Homestake Ridge deposit at the Homestake Ridge project. PEA results incl. post-tax NPV (5%) of US$108M and IRR of 23.6%. The subject of this document is the Homestake Ridge gold project locate | |
| Resources: | (Resources): 0.736Mt @ 7.02g/t Au, 74.8g/t Ag, 0.18% Cu, 0.077% Pb (Ind.) & 5.545Mt @ 4.58g/t Au, 100g/t Ag, 0.13% Cu, 0.142% Pb (Inf.) | |
| CP/QP: | [Resource] Philip A. Geusebroek (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | The subject of this document is the Homestake Ridge gold project located in the so-called Golden Triangle of north-central British Columbia. The Project is owned and operated by Auryn Resources Inc. (the “Company” or “Auryn”) of Vancouver, B.C. Auryn is listed on the Toronto stock exchange and the New York Stock Exchange. The Homestake Ridge Project comprises 7,484.37 hectares (ha) of mineral claims and crown grants and is located approximately 32 km north-northwest of the tidewater communities of Alice Arm and Kitsault, BC. The Project is located within the prolific Iskut-Stewart-Kitsault Belt which hosts several precious and base metal mineral deposits. Diverse mineralization styles include stratabound sulphide and silica-rich zones, sulphide veins, and disseminated or stockwork sulphides. Mineralization is related to Early Jurassic feldspar-hornblende-phyric sub-volcanic intrusions and felsic volcanism, which commonly occurs with zones of pyrite-sericite alteration. Numerous genetic models can be proposed for the area and local deposits present a broad range of characteristics. The Project lies within the metallogenic region known as the Stewart Complex. Described as the contact of the eastern Coast Plutonic Complex with the west-central margin of the successor Bowser Basin, the Stewart Complex ranges from Middle Triassic to Quaternary in age and is comprised of sedimentary, volcanic, and metamorphic rocks. | |
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