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Auramex Resource Corp. Announces Drill Permitting Underway on Bear Pass Project
VANCOUVER, British Columbia, April 25, 2019 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) that drill permitting is underw
About this update from Golden Cross Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, April 25, 2019 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) that drill permitting is underway on its extensive Bear Pass Project in the Stewart Camp of British Columbia’s Golden Triangle. The 6,400 hectare project is centred on Highway 37A, 30 kilometres (km) northeast of Stewart. Drill permitting is underway and planning for drilling is a follow-on to a year’s work by the Auramex geological team. Compilation of 100 years of historic exploration and production results laid the foundation for last year’s field program, which was conducted by a five-person geological team. That work identified a mineralizing system which is inferred to be the same age as that at the producing Brucejack Mine, 48 km to the north, and geologically similar to that at the historic Silbak-Premier Mine, 20 km to the southwest. The core of the system, known as the Bear Pass Pluton, was examined using isotopic age measurement and other techniques and Auramex determined that it is one of the Early Jurassic intrusions, with exceptional potential to generate and host precious metal deposits and which are associated with the majority of gold-silver mineralization in the Golden Triangle. The Bear Pass has a long history of mining and exploration, beginning in the early 1900s. Numerous gold-silver and base metal occurrences were explored, with several being developed into mines. In the early days, access was by packhorse or on foot, so that only exceptionally high-grade deposits were exploited. Exploration, until recently, was constrained by the fractured ownership, with titles to more than 100 parcels being locked up in the form of Crown Grants from the early 1900s until recently. Auramex, over a 12-year period, secured much of the ground that was previously covered by these Crown Grants, and recently augmented its holdings based on the emerging geological interpretation. The significance of the Bear Pass Pluton was not previously recognized because of this diverse, small-scale mineral tenure ownership; coordinated exploration was not possible between the numerous small parcels. Last year, the Auramex geological team, working under a cooperative exploration agreement with Mountain Boy Minerals, carried out the first-ever comprehensive exploration program in the Bear Pass region. The recogniti...