Business
Auramex Reports on 2019 Field Work and Ongoing Activities
VANCOUVER, British Columbia, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports it is continuing to extr
About this update from Golden Cross Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports it is continuing to extract valuable information from the holes previously drilled on its wholly-owned Georgie River gold project located on the tidewater of the Portland Canal, 16 km south of Stewart, British Columbia. Between 1979 and 2003, more than 100 holes were drilled by multiple operators focused on the area of past gold production. Core from more than 90% of these holes is stored on site and continues to return valuable information, which will contribute to more effective 2020 exploration. Owing to delays in the provincial government’s referral process for drill permitting, the planned drill program was deferred until next season. That delay proved beneficial, as the Company has made excellent use of the time, both to review the results of 40 years exploration and to prepare infrastructure for 2020 drilling. An exploration camp in the area of historic drilling at the Georgia River Gold Mine, designed and constructed to house up to 12 personnel, was utilized for most of the work, winterized at the end of the field season and can be re-opened quickly. Auramex’ 2019 exploration prioritized the first systematic review of drill core stored at the mine site since its initial drilling, more than 20 years ago. Review of this core, in the context of the vastly improved geological understanding of the project and of the Golden Triangle region in general, is providing valuable insights into the Georgie River geological picture. In addition, the nearby Hume Creek Deformation Zone (HCDZ), identical in structural style to the SNIP-Bonanza structure in the northwest of the Golden Triangle and thought to be analogous to the Cadillac break in the Abitibi of Québec, was examined and sampled. It is believed that HCDZ is the primary fluid pathway of the precious metal-bearing fluids for the area and is essential to the formation of the gold mineralization at the historic mine and other targets. Historic drill collars were located during 2019 fieldwork and the correct location and orientation of the 1995/1996 mine grid was established from these collar data. Approximately 20% of the existing core has so far been recovered and photographed and key drill holes ...