Augen Gold reports on initial results of winter diamond drill program at Jerome Mine - potentially gold-bearing alteration zones traced to depth, open on strike.

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[{"type":"text","content":"\n\n\n\nTORONTO, June 16 /CNW/ - Augen Gold Corp. ("Augen Gold" or the "Company")\n(TSX-V: AUJ) is pleased to provide an update of ongoing work at its 100% owned\nJerome Mine property in Ontario.\n\n\nHighlights\n\n- 21 drill holes totaling 10,449 metres were completed between January\n and March to test the depth and strike extensions of the previously\n known gold bearing zones.\n\n- Assay results for all 21 holes and 5 unanalysed Osprey Gold\n Corporation holes are still pending and will be released on receipt\n of results.\n\n- The majority of the holes intersected one or more of the Main Zone,\n South Zone 1 and South Zone 2.\n\n- The potentially gold-bearing alteration zones were intersected to\n depths of 640 metres - as much as 240 metres below the historical\n drilling, and with estimated true widths of up to 35 metres. The\n historical drilling was concentrated above the 350 metre level of the\n Main and South Zones.\n\n- Drilling along strike confirmed the extension of the Main Zone to the\n west and potentially to the east. The strike length of the\n potentially mineralized structures is approximately 2,500 metres.\n\n- Assay results of the initial drilling are expected within the next\n few days.\n\n\nA map showing the location of drill holes can be viewed on Augen Gold's\nwebsite (http://www.augengold.ca).\n\n\n"We were very pleased with our Phase 1 drilling program. Whilst we await\nanalytical results from our drilling we are encouraged by geological\nindications which suggest the mineralized structures at Jerome extend to depth\nand along strike. We now have indications that the potentially gold-bearing\nstructures are present to 640 metres in depth and 2,500 metres along strike.\nWe anticipate receiving assay results from some initial drill holes in the\nnext few days" says Michael Fowler, President and CEO.\n\n\nThe Jerome Mine operated between 1940 and 1942, producing 56,200 ounces\nof gold and 15,600 ounces of silver. Subsequent surface and underground\nexploration programs performed up until 1989 expanded "probable and possible"\nresource estimates to 577,495 tons with a grade of 0.20 oz/ton Au (non-NI\n43-101 compliant). Augen Gold's recent winter diamond drill program was\ndesigned to explore for extensions of the mineralized system at depth and\nalong strike. The Je...

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