Business
Auramex Resource Corp. Exploration Underway at Historic Gold Mine
VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports that exploration is prog
About this update from Golden Cross Resources Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports that exploration is progressing at the past-producing Georgia River gold mine, with the geological team reviewing and analyzing drill core from previous operators. This high-grade gold mine, which last operated in 1939, was explored from the 1970s by several companies with the intent of restarting the mine. Work by Auramex has generated compelling evidence in support of a large gold target underlying the area of previous work. The present work is aimed at refining drill targets for a first test of that projected gold zone. The current program includes measurements of rock composition by X-ray fluorescence spectrometry and measurements of spectral reflectance in the visible and short-wave infrared wavelengths. Both sets of measurements are being conducted on samples of historic diamond drill core from the mine area, with the samples selected during 2019 relogging of the core. Results will be combined with planned petrographic and whole-rock lithochemical analyses and with results from structural mapping of the Mine and Hume Creek areas to assemble a clear picture of the ancient hydrothermal system. It is now recognized that only a small part of that massive system was worked by the past producing mine. The Georgia River project is closely associated with an Early Jurassic intrusion, a hallmark of large gold deposits in the Golden Triangle. A regional-scale deformation zone provided the “plumbing system” for hydrothermal fluids related to the intrusion. Surface samples spanning more than a square kilometre on surface carry gold values in excess of a gram per tonne, demonstrating the extensive nature of the system. Historic values in the old workings and in the drill core show the potential of that system to host high gold values. Auramex President and CEO Lawrence Roulston noted: “An enormous amount of work was done by previous operators at the Georgia River gold mine but focused around the old mine. Auramex augmented the prior results with airborne geophysics and other information. There is clear evidence of an extensive geological system with potential for a large gold deposit underlying the previously mined area.” Results of the work by Auramex geologists suggests that the ar...