Print Friendly and PDF

Auryn Drills Gold-Bearing
Hydrothermal System at Committee Bay

Auryn Resources Inc. (TSX: AUG, NYSE American: AUG, “Auryn” recently drilled a 1.5 kilometer gold-bearing hydrothermal system at the Aiviq target. A total of 16 diamond drill holes (4,996 meters) consistently intersected the target structure with the best intercept being 13.5 meters of 1.54 g/t gold (including 6 meters of 3.3 g/t gold) in hole 12 at the southwest margin of the drilling program, leaving the system open in that direction. Hole 12 also exhibited the most intense alteration and quartz veining along the system.

Executive Chairman and Director, Ivan Bebek said, Our ability to target hydrothermal systems under the 95% covered 300km Committee Bay gold belt has improved considerably. The southern-most drilled hole at Aiviq represents a significant opportunity to make a major discovery.

“As the company continues to advance Committee Bay exploration plans, several catalysts are pending including Homestake Ridge drill results, Gibson MacQuoid surface results and continuous news from the company’s highly active Sombrero project, where major copper-gold skarn and porphyry targets have recently been identified.”

Auryn also drilled 22 Rotary Air Blast (RAB) holes (4,135 meters) at the Kalulik and Aarluk prospects, which identified two additional gold-bearing hydrothermal systems that have geological characteristics consistent with the Three Bluffs deposit. This demonstrates Auryn’s improved ability to target under till cover. The Kalulik and newly identified Shamrock prospects are south of Aiviq on the same shear zone.

C.O.O. and Chief Geologist, Michael Henrichsen said, “We feel that we are in a productive gold system at Aiviq due to the strong alteration and fluid flow observed along this regional fault zone. The strengthening of the widths and mineralization at the southwest limit, and the new high-resolution till anomaly at Shamrock, lead us to believe we should continue exploring along this regional fault zone.

“In addition, the identification of three separate gold-bearing hydrothermal systems under cover at the Kalulik and Aiviq prospects indicate to us that our targeting process is leading us in the right direction. We drilled rocks that we believe have the necessary geologic characteristics to host a significant gold deposit. The targets drilled this year represent a fraction of the opportunities still available at Committee Bay based on high-resolution till targets and historical drill intercepts that are still open for expansion.”

Auryn Resources has an active gold exploration portfolio with 7 projects in Canada and Peru. For the drilling results at the Aiviq project located in Nunavit, Canada, Click Here.

Auryn Resources is continuing its pursuit of “World Class Discoveries.” For a Corporate Presentation of Auryn Resources Click Here

The Bull & Bear Financial Report

Copyright 2018 - 20 || All Rights Reserved
Reproduction in whole or part is strictly prohibited
without prior written permission.


NOTE: The Bull & Bear Financial Report does not itself endorse or guarantee
the accuracy or reliability of information, statements or opinions
expressed by any individuals or organizations posted on this site


The Bull & Bear Financial Report is published by
BULL & BEAR MEDIA GROUP, INC.
Editor@TheBullandBear.com

Website Designed & Maintained by Gemini Communications

PLEASE READ DISCLAIMER