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Auryn Resources Inc.
Summary
| Project: | Huilacollo | |
|---|---|---|
| Deposit: | Huilacollo | |
| Location: | Peru | |
| Commodities: | Gold-Silver | |
| Date: | 4/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 13-4-2018: Auryn Resources Inc. announces an Exploration/Drilling Update report for its Huilacollo deposit at the Huilacollo project. Drilling results incl. 62m @ 0.45g/t Au, 2.7g/t Ag from 0m. VANCOUVER, British Columbia, April 13, 2018 -- Auryn Resource | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Michael Henrichsen (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, April 13, 2018 -- Auryn Resources Inc. (TSX:AUG) (NYSE American:AUG) (“Auryn” or the “Company”) is pleased to announce drill results from its initial five drill holes at the Huilacollo oxide gold project in southern Peru. Only two conceptual targets adjacent to the existing mineralization were drilled in a short 1,500 meter program completed prior to the rainy season. Numerous targets across the property remain untested. In addition to drilling at Huilacollo, reconnaissance rock sampling at the Tacora target yielded broad zones of oxide mineralization within a 750 meter structural zone. The Tacora and Huilacollo structural corridors present an opportunity to define multiple zones of oxide mineralization. Ivan Bebek, Executive Chairman of Auryn, stated, “The Huilacollo project represents a potential low cost oxide mining scenario with accessible infrastructure. These initial holes give us strong indications of the direction of the mineralization as well as the potential for significant expansion. We look forward to resuming drilling once the new pad placements are permitted. Drilling successfully expanded mineralization to the northwest by 100 meters with drill hole 17-HUI-002 intersecting 62 meters of 0.45 g/t Au (including 22 meters of 0.71g/t Au) oxide mineralization from surface and drill hole 17-HUI-004 intersecting 22 meters of 0.2 g/t Au 100 meters to the southwest from hole 17-HUI-002. Although hole 17-HUI-002 encountered lower grades of mineralization, it demonstrates the system is open to the northwest (Figure 1 & 2). These results have identified the potential for expanding surface mineralization to the northwest within the 1.5 kilometer long silica-alunite alteration zone that defines the core of the epithermal alteration system within the northern region of the project. Importantly, the encountered mineralization within these drill holes validates Auryn’s exploration model of targeting breccia bodies within the silica-alunite alteration system. There are several untested targets in the zone as shown in Figure 1. | |
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