Vancouver, British Columbia – October 26th, 2015 – Auryn Resources Inc.(TSX-V: AUG, OTCQX: GGTCF) (“Auryn” or the “Company) is pleased to announce results from its till sampling program from the SW region of it’s Committee Bay Gold Project located in Nunavut. The program was designed to develop robust and repeatable gold vectors over targets identified in Auryn’s prospectivity analysis.
Results from the program (see Figure 1) have identified a total of 5 new significant anomalies that range from between 1 km to 10 km in length. Importantly, 3 of these anomalies constitute a newly recognized corridor of elevated gold in tills that extends for over 20 km. The targets identified have seen little to no historical work on them and demonstrate the very prospective nature of the bedrock beneath the till that covers 95% of the 300km belt. Collectively these till anomalies will become the focus for continued exploration within the SW region of the Committee Bay belt.
Auryn CEO Shawn Wallace commented “The till anomalies identified in 2015 validate Auryn’s exploration approach of realizing the belt’s potential to host gold mineralization underneath glacial cover. We believe that these gold till anomalies represent covered mineralized systems that will become the focus of our drilling efforts moving forward.”
Michael Henrichsen (Chief Operating Officer), P.Geo is the QP who assumes responsibility for the technical contents of this press release.
Till samples were collected mostly from active frost boils. Samples from 3 to 5 kg each sent to ALS Lab in Yellowknife, NWT and Vancouver, BC for preparation and then to ALS Lab in Vancouver, BC for analysis. All samples are analysed using Ultra-Trace Au by Cyanide Extraction and ICP-MS finish method (Au-CN44) and multi-element aqua regia digest ICP-AES/ICP-MS method (ME-MS41). QA/QC programs using internal standard samples, field and lab duplicates, re-assays, and blanks indicate good accuracy and precision in a large majority of standards assayed.”
Auryn is a junior mining exploration company focused on delivering shareholder value through project acquisition and development. The Company’s management team is highly experienced with an impressive track record of success in the discovery, development, financing and monetizing of mining assets for shareholders.
Through the acquisition of North Country, Auryn now owns 100% interest in the Committee Bay project located in Nunavut, Canada. The Committee Bay project includes 217,600 hectares situated along the Committee Bay Greenstone Belt which occurs approximately 180 km northeast of Agnico Eagle Mines’ Meadowbank mine and extends for more than 300 km.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
President and CEO of Auryn Resources
Cautionary Statement on Forward-Looking Statements
This press release contains “forward-looking information”, as such term is defined in applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “anticipates”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “plans” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would” or “might”, “be taken”, “occur” or “be achieved”. Such forward-looking information may include but is not limited to statements regarding Auryn’s intention to delist the North Country Shares and cause North Country to cease being a reporting issuer, the overall economic potential of its properties and the availability of adequate financing. Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Auryn operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Auryn cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Auryn’s actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, factors discussed in each management discussion and analysis of the Company, available on SEDAR at www.sedar.com.
Although Auryn has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Auryn disclaims any intention or obligation to update or revise such information, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further details on Auryn Resources Inc., contact Jay Adelaar, Manager of Investor Relations at (778) 729-0600.
Figure 1 - Illustrates the results of the 2015 till sampling program from the SW third of the Committee Bay Gold Belt. A total of five separate anomalies were discovered demonstrating the potential of the belt to host gold mineralization underneath glacial till sequence that covers 95% of the belt. Importantly a +20 km long north-south corridor was identified and will become the focus for ongoing exploration in 2016.