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 Bay Gold Project Highlights
High grade gold endowment and an established resource
Existing exploration infrastructure
Mining Friendly jurisdiction
Over 300,000 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
The Committee Bay Gold Project is located in Nunavut, Canada. It includes over 300,000 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
The Committee Bay Gold Project includes over 300,000 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
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
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.
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.
Grade (g/t Au)
* Please see press releases dated 1 September 2nd, 2003, 2 September 5th, 2007, 3 August 25th, 2005, 4 October 6th 2006, and 5 May 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.
High-resolution till sampling has become an integral layer of data for six targets at Committee Bay, Nunavut. These targets include the previously disclosed Aiviq sampling, which was drilled in 2017 (14-Sep-2017 news release).
Gold assay results from the high-resolution (100 meter by 100 meter spacing) till surveys across nine regional targets demonstrate greater precision for identifying the potential source areas of high-grade gold mineralization seen throughout the belt. The results of the surveys have delineated gold-in-till anomalies that are consistent with the size of potential deposit footprints and will form the basis of future drill campaigns at Committee Bay.
Committee Bay Target Area
2018 Target Areas
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.
Photo Gallery photos are not intended to convey any specific technical or financial information but rather are provided only to give readers a sense of the current nature and scale of the exploration activities at the site.
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