Committee Bay

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 390,000 hectares with district scale discovery opportunities
  • Major mine development underway in the area

*The Committee Bay project is held 100% by Auryn subject to a 1% Net Smelter Royalty (“NSR”) on the entire project and an additional 1.5% NSR on a small portion of the project. The 1.5% NSR is payable on only 7,596 hectares and is buyable within two years of the commencement of commercial production for $2,000,000 for each one-third (0.5%) of the NSR

Project Location Map
Project Location Map
Project Location Map

Location & Infrastructure

The Committee Bay Gold Project is located in Nunavut, Canada. It includes over 390,000 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 facilities
  • 5 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
Mining Jurisdiction
Mining Jurisdiction
Mining Jurisdiction
Heavy Equipment
Heavy Equipment
Heavy Equipment

Project Geology

The Committee Bay Gold Project includes over 390,000 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.

Committee Bay Project Geology
Committee Bay Project Geology
Committee Bay Project Geology

Reserves & Resources

High-grade gold occurrences are found throughout the 300 km strike length of the Committee Bay Gold Bet 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

ClassTypeCut-OffTonnesGold GradeContained Gold
(g/t Au)(000 t)(g/t Au)(oz Au)
IndicatedNear Surface3.01,7607.72437,000
Underground4.03108.5786,000
Total2,0707.85524,000
InferredNear Surface3.05907.57144,000
Underground4.02,3407.65576,000
Total2,9307.64720,000

Notes:

  1. CIM definitions were followed for Mineral Resources.
  2. 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.
  3. 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.
  4. Nominal minimum mining widths of five metres (near surface) and two metres (underground) were used.
  5. Numbers may not add due to rounding.
  6. 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.

Long Section of Three Bluffs Resource

Exploration

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.

ProspectHole
ID
Depth from
(m)
Depth to
(m)
Length
(m)
Grade
(g/t Au)
Inuk3I001B*1**62.0074.6012.6016.04
Inuk07IN006*2**67.0078.0011.0011.18
West Plains05WP004*3**56.8565.588.7314.76
West Plains06WP006*4**109.00117.008.0013.14
Raven05RV001*5**102.38107.795.4912.60
Raven05RV002*5**38.8141.242.4336.22

* Please see press releases dated 1September 2nd, 2003, 2September 5th, 2007, 3August 25th, 2005, 4October 6th 2006, and 5May 19th, 2005 filed on Sedar under Niblack Mineral Development Inc.

** True width of intercept unknown

Exploration work on the Committee Bay Property is supervised by Michael Henrichsen, P. Geo., COO of Auryn Resources and a Qualified Person as defined by NI 43-101. Unless otherwise indicated, Mr. Henrichsen has reviewed and is responsible for the technical information contained in this website.

Committee Bay Target Area
Committee Bay Target Area
Committee Bay Target Area

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.

© 2017 Auryn Resources Inc.
All rights reserved.
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