Business
Aurion Resources Commences 2017 Field Exploration Program
ST. JOHN’S, Newfoundland and Labrador, June 14, 2017 (GLOBE NEWSWIRE) -- Aurion Resources Ltd. (TSX-V:AU) ("Aurion" or the "Company") is pleased to announce tha
About this update from Aurion Resources Ltd.
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador, June 14, 2017 (GLOBE NEWSWIRE) -- Aurion Resources Ltd. (TSX-V:AU) (\"Aurion\" or the \"Company\") is pleased to announce that field exploration programs are underway on Aurion’s project areas in the Central Lapland Greenstone Belt (CLGB) of Northern Finland. The primary focus is to advance the Aurora prospect (herein renamed Aamurusko, the Finnish word for Aurora) to drilling and identify new zones of mineralization within Aurion’s extensive property portfolio (greater than 200,000 hectare). Exploration programs are also being initiated on other projects and geological settings throughout the CLGB. The 2017 budget is approximately CAN$3 million which will include a Phase I drill program at Aamurusko. Additionally, B2Gold has a planned CAN$3.5 million exploration budget on the Kutuvuoma Joint Venture. Further details are presented below. Risti/Aamurusko Mapping, prospecting, and ground magnetic and radiometric surveys are underway at the Aamurusko Zone where an 1100 m long by 500m wide area of high grade gold mineralization was discovered in late 2016. There, 133 rock grab samples collected from predominantly large and angular sub-cropping, frost heaved, quartz-tourmaline blocks assayed from nil to 1563.5 g/t Au, including 36 samples which assayed greater than 31 g/t Au (1 ounce per tonne). The average grade of all 133 samples is 74.3 g/t Au. Many of these samples contain abundant coarse visible gold. Numerous quartz blocks within this trend are > 1 m in at least one dimension and locally reach up to 3.5 m by 3 m by 1 m in size (See Aurion press release dated Feb 1, 2017). A Phase I 2500 m drill program is anticipated to start in August at Aamurusko. The geological setting of the Aamurusko Zone has many similarities to prolific gold-rich orogenic gold belts globally, specifically the Timmins camp of the Abitibi Province of Northern Ontario. The Aamurusko Zone appears to be underlain by young unconformable polymictic conglomerates of the Kumpu Group. These Kumpu Group Conglomerates resemble the Timiskaming conglomerates of the Timmins and Kirkland Lake area of the Abitibi and occur in a similar geo-tectonic setting (both represent the youngest stratigraphic sequence within their respective belts). The Kumpu Group and ...