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Aurion Drilling Intersects High-Grade Gold at Launi East

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Aurion Drilling Intersects High-Grade Gold at Launi East

 

 

 

 

 

  • High-grade near-surface gold intersected in wide fault zone on blind geophysical target  
    • Assays up to 30.70 and 8.65 g/t Au
    • Target >1.5 km strike length
  • Multiple high-grade intercepts drilled below sub-cropping veins on several targets
  • Multiple gold bearing veins intersected in >300 m wide by >1.0 km long corridor
  • Company to resume exploration on flagship Risti property with two drills in August

 

Aurion Resources Ltd.  (TSX-V: AU) (OTCQX: AIRRF) is pleased to report it has received assay results from a reconnaissance drilling program designed to test multiple gold targets at its wholly owned Launi East property in Northern Finland.  Drilling successfully intersected near-surface, high-grade gold mineralization on several of these targets.

 

Aurion drilled a total of 43 holes for approximately 5,940 metres. Due to COVID-19, a single, limited capacity “scout” drill rig was operated for one shift per day with most holes drilled to depths less than 125 m.  The majority of the drillholes were located in a 1.0 by 1.5 kilometre area in the northern portion of the property. 

 

Highlights:

 

Hinge Zone Target is located in the north-central portion of the property and interpreted to be a blind fault/shear zone associated with a tightly folded mafic unit based on ground magnetic geophysics and occurs along the west side of the Christmas Deformation Zone Corridor (see below).  This target was tested with three drillholes.  Drillhole LN20042 intersected a gold bearing 27 m wide (core length) fault zone starting at approximately 15 m downhole.  Unfortunately, there was 92% core loss in this interval due to the broken and deeply weathered nature of the host rock however much of the remaining core (2.7 m) was mineralized including three intervals that assayed 30.70 g/t Au over 0.10 m (remaining weathered material from a 3.6 m wide interval), 8.65 g/t Au over 0.55 m (remaining quartz vein material from a 3.2 m wide interval) and 0.52 g/t Au over 1.10 m.  Several other samples from the zone were also weakly anomalous (up to 0.05 g/t Au).   Two additional drillholes failed to reach target depth.

 

The Hinge Zone Target is an isoclinal fold structure interpreted primarily upon ground magnetic geophysics and appears to have more than 1.5 km of strike length. The shear zone reported here occurs along the eastern limb of this tight fold.  This type of geological feature is often an ideal site for the location of shear/fault zones and for potentially hosting robust gold mineralization.  A recent example of this type of potential occurs at Great Bear Resources’ (TSX-V:”GBR”) Dixie property in northern Ontario.  Future drilling with a larger capacity drill rig will also test the western limb as well as the hinge or core of this fold structure.

 

CDZ Corridor is located in the northeastern portion of the Launi property.  Twenty-nine 40 to 200 m spaced drillholes were completed over a strike length of approximately 1.0 km, testing several targets along a narrow trend of high-grade boulder and outcrop samples (>300 rock samples averaging 5.18 g/t Au) within a NNW-SSE trending 300-400 m wide 2.5 km long corridor bounded to the east by the Sirkka Shear Zone (a 125 km long major crustal scale fault) and the Hinge Zone Target to the west. Gold mineralization was intersected in 22 of 29 drillholes and is hosted by flat to steep quartz-pyrite-hematite veins and/or breccias up to 1.0 m in width.  The best results include 63.90 g/t Au over 0.37 m, 5.50 g/t Au over 0.40 m and 3.08 g/t Au over 0.70 m.  See the table below for complete assays results.

 

The corridor is underlain by tightly folded and faulted and variably silica-sericite-fuchsite altered sedimentary rocks and locally outcropping quartz veins.  Most of this corridor is overburden covered.  While the drilling was primarily testing one main 3-5 m wide NNW-SSE trending shear zone within the CDZ Corridor, the results indicate the presence of numerous concealed steep to shallowly dipping gold bearing quartz veins parallel or sub-parallel to this shear zone

 

Midsommer Target is located approximately 350 m west of the CDZ Corridor and comprises a series of NNW-SSE trending intermediate volcanic hosted quartz-tourmaline veins in outcrop and boulder fields over an area of roughly 250 by 300 m.  Previously, 209 rock samples collected assayed an average of 2.01 g/t Au.  Six (6) 40 to 90 m spaced drillholes tested this target.  Four of the drillholes drilled beneath a boulder field.  Gold bearing quartz-pyrite-tourmaline veins and stockwork up to 10 m wide were encountered in all drillholes.  The best intercepts include 1.37 g/t Au over 1.00 m, 1.01 g/t Au over 2.35 m and 0.34 g/t Au over 10.00 m including 1.84 g/t Au over 0.90 m.  See table below for complete results.

 

Bonanza Target is located approximately 4.4 km south of the CDZ Corridor and 1.4 km to the west of the Sirkka Shear Zone.  Trenching exposed a 125 m long gold bearing WSW-ENE quartz-tourmaline vein where surface channel samples returned values of 39.5 g/t Au over 0.56 m, 29 g/t Au over 0.44 m and 19.5 g/t Au over 0.77 m in quartz veining.  Five (5) drillholes spaced 20-40 m apart were completed with best results of 3.71 g/t Au over 1.50 m, including 11.15 g/t Au over 0.45 m and 2.02 g/t Au over 0.64 m.

 

Mother’s Day and Launi SE targets located in the southern portion of the property were tested with one and two drillholes, respectively.  No significant values were returned.

 

Aurion is planning a follow up drill program on Launi and is currently mobilizing a rig to drill untested targets on its flagship Risti property.

 

The company is fully funded for exploration.

 

Link for plan map of the drill holes:

 

 

 

Comments

 

“The Launi East reconnaissance scout drill program was successful in intersecting gold mineralization over a wide area, locally very near surface and/or beneath blind targets.,” commented Mike Basha, President. “We are encouraged by these results of this first ever drill program on a property that has no previous history of gold exploration and which was only acquired in 2018 based on a high-level geological concept.  As we assess these results we look forward to returning to Launi for follow-up with a more capable rig to drill deeper with larger diameter core recovery.”

 

Discussion

 

The forty-two square kilometre Launi East property straddles a flexure in the Sirkka Shear Zone (a > 125 km long crustal scale fault) and the boundary between Archean and Proterozoic aged terranes. The arcuate stratigraphy on the Launi East property includes a folded package of siliceous sandstones and mafic to intermediate volcanic rocks.

 

The primary objective of the scout drill program was to drill test the gold mineralization encountered in boulders and limited trenching on a number of targets initially identified by prospecting in 2018-19.  Gold mineralization was encountered in most of the drillholes and more significantly beneath blind targets such as the Hinge Zone. The scout rig was useful in testing many targets but was limited when difficult ground conditions were encountered.  As such Aurion plans to follow-up on these results with a higher-powered, larger-diameter core rig in the fall, with the expectation of improved core recoveries and the ability to drill deeper holes. 

 

Drill Hole Summary Table:

 

 

Launi Drillhole Highlight Summary Table
HOLE_ID Azimuth Dip FROM_m TO_m Width_m Au_ppm (g/t) Target Area Comments
LN19007 54,0 -43,8 109,20 109,70 0,50 0,44 CDZ Corridor  
AND     156,00 160,20 4,20 0,31 CDZ Corridor  
incl     157,00 158,00 1,00 0,67 CDZ Corridor  
LN20008 54,7 -44,6 78,50 78,90 0,40 5,50 CDZ Corridor  
AND     213,45 214,00 0,55 1,62 CDZ Corridor  
AND     216,55 217,00 0,45 0,94 CDZ Corridor  
AND     229,50 230,40 0,90 0,48 CDZ Corridor  
LN20009 54,7 -60,6 152,05 153,03 0,98 1,55 CDZ Corridor  
LN20010 140,5 -46,6 8,69 9,33 0,64 2,02 Bonanza  
LN20011 140,3 -42,3       NSV Bonanza anomalous values up to 0.10 ppm
LN20012 55,2 -44,2       NSV CDZ Corridor anomalous values up to 0.01 ppm
LN20013 139,4 -45,0 19,50 21,00 1,50 3,71 Bonanza  
incl     19,50 19,95 0,45 11,15 Bonanza  
LN20014 54,9 -44,0 85,50 87,00 1,50 1,58 CDZ Corridor  
incl     86,30 87,00 0,70 3,08 CDZ Corridor  
AND     260,83 261,20 0,37 63,90 CDZ Corridor  
LN20015 140,8 -59,8 30,45 30,88 0,43 2,98 Bonanza  
LN20016 54,9 -60,4       NSV CDZ Corridor anomalous values up to 0.11 ppm
LN20017 109,1 -44,7       NSV Launi SE anomalous values up to 0.02 ppm
LN20018 54,8 -44,4 163,60 164,10 0,50 1,73 CDZ Corridor  
AND     220,40 220,70 0,30 0,72 CDZ Corridor  
LN20019 109,7 -46,5       NSV Launi SE anomalous values up to 0.01 ppm
LN20020 54,8 -58,4 122,00 123,00 1,00 0,61 CDZ Corridor  
LN20021 188,7 -44,4 17,85 18,15 0,30 1,85 Bonanza  
AND     19,75 20,35 0,60 1,17 Bonanza  
AND     25,20 26,00 0,80 0,45 Bonanza  
LN20022 261,1 -46,8       NSV Mother’s Day anomalous values up to 0.02 ppm
LN20023 55,1 -44,8       NSV CDZ Corridor anomalous values up to 0.08 ppm
LN20024 54,2 -46,4 58,70 60,00 1,30 0,36 CDZ Corridor  
LN20025 54,8 -45,0       NSV CDZ Corridor anomalous values up to 0.17 ppm
LN20026 53,0 -70,0 39,00 41,15 2,15 0,15 CDZ Corridor  
LN20027 54,3 -43,9 117,00 123,00 6,00 0,25 CDZ Corridor  
incl     117,00 117,35 0,35 1,29 CDZ Corridor  
incl     122,20 122,50 0,30 1,10 CDZ Corridor  
LN20028 54,8 -45,0       NSV CDZ Corridor anomalous values up to 0.15 ppm
LN20029 88,8 -48,0       NSV CDZ Corridor anomalous values up to 0.16 ppm
LN20030 90,8 -68,9       NSV CDZ Corridor anomalous values up to 0.09 ppm
LN20031 235,5 -44,9       NSV CDZ Corridor anomalous values up to 0.02 ppm
LN20032 235,2 -45,2       NSV Hinge Zone anomalous values up to 0.01 ppm
LN20033 54,6 -47,8       NSV CDZ Corridor anomalous values up to 0.12 ppm
LN20034 254,4 -44,5       NSV CDZ Corridor anomalous values up to 0.01 ppm
LN20035 225,4 -44,8       NSV CDZ Corridor anomalous values up to 0.03 ppm
LN20036 190,3 -44,9       NSV CDZ Corridor anomalous values up to 0.01 ppm
LN20037 254,2 -46,0       NSV CDZ Corridor anomalous values up to 0.07 ppm
LN20038 237,9 -58,2 177,75 179,95 2,20 0,86 CDZ Corridor  
incl     178,60 179,45 0,85 1,62 CDZ Corridor  
LN20039 185,4 -45,3       NSV CDZ Corridor anomalous values up to 0.02 ppm
LN20040 234,7 -45,5       NSV CDZ Corridor anomalous values up to 0.02 ppm
LN20041 54,7 -45,0       NSV Hinge Zone anomalous values up to 0.13 ppm
LN20042 235,2 -70,0 14,90 16,00 1,10 0,52 Hinge Zone  
incl     16,00 19,60 3,60 30,70 Hinge Zone 3.50 m core loss, 10 cm recovered core
AND     28,40 31,60 3,20 8,65 Hinge Zone 2.65 m core loss, 55 cm recovered core
LN20043 235,0 -45,0 96,60 98,20 1,60 0,21 Hinge Zone South  
LN20044 235,1 -44,0 10,95 13,10 2,15 0,38 Midsommer  
AND     149,10 150,15 1,05 0,30 Midsommer  
AND     160,90 162,40 1,50 0,31 Midsommer  
LN20045 236,0 -44,2 149,65 152,00 2,35 1,01 Midsommer  
LN20046 234,9 -45,0 13,55 14,35 0,80 0,20 Midsommer  
LN20047 234,9 -45,0 2,90 7,50 4,60 0,31 Midsommer  
incl     6,00 6,80 0,80 1,16 Midsommer  
LN20048 235,6 -42,5 18,85 21,80 2,95 0,30 Midsommer  
AND     33,90 35,75 1,85 0,53 Midsommer  
AND     39,75 42,65 2,90 0,33 Midsommer  
AND     96,70 97,45 0,75 0,40 Midsommer  
LN20049 234,9 -45,0 4,00 7,00 3,00 0,20 Midsommer  
AND     10,00 11,50 1,50 0,41 Midsommer  
AND     21,00 25,55 4,55 0,13 Midsommer  
AND     44,00 5,00 1,00 0,64 Midsommer  
AND     58,00 60,00 2,00 0,18 Midsommer  
AND     72,00 82,00 10,00 0,34 Midsommer  
incl     74,00 74,90 0,90 1,84 Midsommer  
AND     111,00 112,90 1,90 0,33 Midsommer  
AND     132,00 134,00 2,00 0,46 Midsommer  
AND     164,00 167,00 3,00 0,88 Midsommer  
incl     166,00 167,00 1,00 1,37 Midsommer  
AND     175,90 176,85 0,95 0,50 Midsommer  
All widths are core widths.  True width is not known at this time.
All assay values are uncut.

 

Background

 

The geological setting of the Launi East Project has many similarities to prolific gold-rich orogenic gold belts globally, including the Timmins camp of the Abitibi province of Northern Ontario. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with major regional fault zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones.  Aurion has land holdings covering approximately 80 km of the regional Sirkka Shear Zone within the Central Lapland Greenstone Belt. Launi East shares many hallmark characteristics of these belts including the presence of the Sirkka Shear Zone which bisects the property; however, it lacks the history of systematic gold exploration. Aurion is the first company to place an exploration permit on this property.”

 

Quality Assurance and Quality Control

 

All samples were delivered to ALS preparation facility in Sodankyla, Finland where sample preparation work was completed. All analytical work was completed at ALS facility in Loughrea, Ireland and Rosia Montana, Romania.  ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005).  All samples were analyzed for gold using the Au-AA26 procedure (50g fire assay with AAS finish: Lower Detection Limit 0.01 g/t gold; Upper Limit – 100 g/t gold).  Any samples that returned over-limit values (>100 g/t gold) or had visual indications of mineralization, such as visible gold or prospective vein intervals (>100 g/t gold) were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000 ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 100-micron stainless steel screen. Any material remaining on the screen (>100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (

 

This news release has been prepared by Mike Basha, P.Eng., P.Geo., President and Andrew Hussey, P.Geo., GIS Geologist and Database Manager for Aurion Resources, Qualified Persons as defined by National Instrument 43-101. For more information on these projects please visit our website at www.aurionresources.com.

 

About Aurion Resources Ltd.

 

Aurion Resources Ltd.  is a Canadian exploration company listed on the TSX Venture Exchange. Aurion’s strategy is to generate or acquire early stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion’s current focus is exploring on its Flagship Risti and Launi projects, as well as advancing joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. in Finland.

 

 

Posted July 27, 2020

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