Overview & Highlights
On September 25, 2015, Auryn Resources Inc. acquired a 100%* interest in the Committee Bay gold project located in Nunavut, Canada, through its acquisition of North Country Gold Corp. Committee Gold Bay Project Highlights
- High grade gold endowment and
an established resource
- Existing exploration infrastructure
- Mining Friendly jurisdiction
- Over 380,000 hectares with district scale discovery opportunities
- Major mine development underway in the area
Location & Infrastructure
The Committee Bay Gold Project is located in Nunavut, Canada. It includes over 380,000 hectares situated along the Committee Bay Greenstone Belt (CBGB).
The CBGB occurs approximately 180 km NE of Agnico Eagle Mines’ Meadowbank mine and extends more than 300 km northeast to the shores of Committee Bay, within Nunavut Territory of the Canadian mainland.
The project benefits from existing infrastructure, which includes:
- Bulk storage fuel
- High efficiency drill rigs
- Heated drill water system
- Heavy equipment on site
- 100 person camp at the Three Bluffs deposit area and two satellite camps in the SW of the belt
The Committee Bay Gold Project includes over 380,000 hectares situated along the Committee Bay Greenstone Belt (CBGB).
The CBGB comprises one of a number of Archean aged greenstone belts occurring within the larger Western Churchill province of north-eastern Canada. The character and history of rock packages, and the timing and nature of mineralization occurring within the CBGB is considered to be equivalent to that of other significant gold bearing Archean greenstones within the Western Churchill Province, which hosts deposits such as Meadowbank and Meliadine.
Reserves & Resources
High-grade gold occurrences are found throughout the 300 km strike length of the Committee Bay Gold Belt with the most significant being the Three Bluffs deposit that contains resources as listed in the table below: *(refer to NI43-101 report dated May 31, 2017 filed at www.sedar.com
Table 1: Update Mineral Resources for the Three Bluffs Deposit as of May 31, 2017
- CIM definitions were followed for Mineral Resources.
- Mineral Resources are estimated at cut-off grades of 3.0 g/t Au for open pit and 4.0 g/t Au for underground.
- Mineral Resources are estimated using a long-term gold price of US$1,200 per ounce, and a US$/C$ exchange rate of 1:25.
- Nominal minimum mining widths of five metres (near surface) and two metres (underground) were used.
- Numbers may not add due to rounding.
- Cautionary Note to U.S. Investors, please see the following link: SEC Cautionary Language Rider for Mining Disclosure
The Mineral Resource estimate was prepared by RPA for the Three Bluffs deposit as of May 12, 2017. The Mineral Resource is based on work by RPA in 2013 and new cut-off grades based on updated metal price, exchange rate, and operating costs.
Three Bluffs deposit remains open for expansion both along strike and at depth and is considered to have excellent exploration upside to significantly increase the resource base within 5km of the currently defined deposit trend.
Regional exploration targets will be developed through an integrated geochemical, geophysical, and geological evaluation of the extensive database developed across the CBGB by North Country over the last 20 years. The database has highlighted 115 rock samples grading greater than 5g/t Au that fall across nine broad areas that have not had any follow up first pass drilling within a 200m radius.
Importantly, a high quality pipeline of targets exists within the CBGB that are both drill ready and can quickly be advanced to drill stage. The most advanced of these targets are high-grade occurrences that have been defined through initial diamond drill testing. These include the Inuk, West Plains, and Raven targets that have the following drilling highlights listed in the table below. Collectively, these advanced targets demonstrate the potential to define additional high-grade resources within the CBGB.
Communities and the Environment
Auryn Resources understands the shared value that mining can bring but also understands its risks and the importance of responsible and sustainable development. Our Company strives to maintain the highest standards of environmental protection and community engagement throughout all of its projects.
Auryn is focused on bringing this shared value approach to the arctic.
Unless otherwise indicated, Michael Henrichsen, P. Geo., COO of Auryn Resources and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained in this website.