Vancouver, British Columbia – July 9, 2018 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG) (“Auryn” or the “Company) is pleased to announce that it will commence drilling at its Committee Bay gold project on July 15, 2018. The drill program will test six targets and consist of approximately 10,000 meters, which will include a combination of diamond drill core (6000 meters) and rotary air blast (RAB) drilling (4000 meters). The program is following up on the 2017 Aiviq discovery (12.2m of 4.7g/t gold¹) as well as exploring the Kalulik, Tulugaq, Aarluk, Castle Pebble and Koffy prospects (Figure 1), which were identified through gold assays of the 2017 high resolution (100 meter by 100 meter)) till sampling.
A Message from Auryn’s Executive Chairman and Director:
Ivan Bebek stated, “We are very excited about this year’s drill program as we will be following up on three years of extensive exploration, a new high-grade discovery at our Aiviq prospect that we made last year and five additional targets. The drill targets notably have been refined through the tighter-spaced surface sampling assay results received during the off-season.”
Mr. Bebek further stated, “Our portfolio of projects once again becomes live with drilling for potential high-grade gold discoveries in Canada while we are continuously receiving new results from our Sombrero project in Peru.”
The Drill Plan:
The Company has identified six target areas for approximately 10,000 m of drilling, which is presented below in Table 1 and in Figures 2 – 7. The drill program is based primarily on gold assays from the high resolution tills, boulder mapping, and previous drill intercepts. This drill plan is subject to change based on observations made during the program.
|Prospect||Meters*||Number of drill holes|
|Aiviq Discovery Follow-up||3200||12 (diamond drill holes)|
*This drill plan is subject to change based on observations made during the drill program
1See Auryn’s press release dated September 14, 2017.
Further Surface Work:
Further high-resolution till sampling is planned for the West Plains and Anuri prospects both of which have historical high-grade drill intercepts. The aim of this surface work is to continue to develop the next series of drill targets as the Company’s technical team believes these prospects have excellent potential for a major discovery (see Figure 8). In addition, regional till sampling (500 meter by 1 kilometer spaced samples) will occur to the northeast of the Inuk prospect to determine the potential for additional discoveries in the northeast portion of the belt (Figure 8).
Michael Henrichsen (Chief Operating Officer), P.Geo is the QP who assumes responsibility for the technical contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
Executive Chairman and Director
For further information on Auryn Resources Inc., please contact Natasha Frakes, Manager of Corporate Communications at (778) 729-0600 or firstname.lastname@example.org
Auryn Resources is a technically driven 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 and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through Corisur Peru SAC.
Forward Looking Information and additional cautionary language
This release includes certain statements that may be deemed “forward-looking statements”. Forward-looking information is information that includes implied future performance and/or forecast information including information relating to or associated with the acquisition and title to mineral concessions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s Annual Information Form and MD&A for the year ended December 31, 2017 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedar.com and the Company’s registration statement on Form 40-F filed with the United States Securities and Exchange Commission and available at www.sec.gov.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Figure 1: Illustrates the 2018 summer drill plan for the Committee Bay gold project based on gold results from high resolution (100 m²) till samples.
Figure 2: Illustrates the follow-up drill plan at the 2017 Aiviq discovery. Other targets within the Aiviq shear zone corridor are depicted by green drill collars. Drilling from 2017 is identified by black drill collars.
Figure 3: Illustrates the drill plan at the Kalulik prospect and is depicted by green drill collars. Drilling from 2017 is identified by black drill collars.
Figure 4: Illustrates the drill plan at the Tulugaq prospect as depicted by green drill collars. Drilling from 2017 is identified by black drill collars.
Figure 5: Illustrates the drill plan at the Aarluk prospect as depicted by green drill collars that are following up on a gold bearing magnetic band that had 4.5 meter intercept of 2.5 g/t from the 2017 drill program. Drilling from 2017 is identified by black drill collars.
Figure 6: Illustrates the drill plan at the Castle Pebble prospect as depicted by green drill collars. Drilling from 2017 is identified by black drill collars.
Figure 7: Illustrates the drill plan at the Koffy prospect as depicted by green drill collars. Drilling from 2017 is identified by black drill collars.
Figure 8: Illustrates the surface sampling program at the Committee Bay gold belt for the summer of 2018. High-resolution till samples will be collected at the West Plains, Anuri, Kalulik, Shamrock, Castle Pebble, and Aiviq prospects to aid in future drill targeting. On the northeast end of the belt 650 regional till samples taken on 500 meter by one kilometer spacing will determine the potential for further discoveries to the north of the Inuk prospect.