By Cory
Auryn expands mineralized system at the Inuk prospect by 400 meters and provides portfolio update
Here are the latest round of drill results from Auryn Resources. The stock is getting hit today and dropping to levels where I am planning on picking up some shares shortly. The Company has been hitting mineralization throughout the large drill program this year but still has yet to hit that massive hole that investors are clearly waiting for. There are a lot of drill results to come still this year out of Committee Bay (31% of drilling in the assay labs), Homestake (14,811 meters in 37 drill holes), drilling upcoming in Peru, and follow up work at Committee Bay in March of next year.
Click here to visit the Auryn Resources website.
Also if you have any questions for the team at Auryn please comment or email me and I will get those answered.
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Vancouver, British Columbia – October 19th, 2017 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG, “Auryn” or the “Company”) is pleased to announce new mineralization discovered at the Inuk prospect at its Committee Bay Gold Project located in Nunavut, Canada. Auryn intercepted 25 meters of 1.15g/t Au (including 3.05 meters of 4.13g/t Au) 400 meters away from the historic intercept of 12.6 meters of 16.04 g/t Au in hole INR003 within sulphidized banded iron formation. This hole extends the mineralized system considerably and demonstrates significant widths of mineralization under barren intrusive rocks that were not previously tested (Figure 1). This is the third area drilled at Committee Bay during 2017 to yield positive results and warrant further exploration.
News release Highlights:
Intercepted 25 meters of 1.15g/t Au (including 3.05 meters of 4.13g/t Au) 400 meters along strike from the historic intercept of 12.6 meters of 16.04 g/t Au at the Inuk prospect.
31% of holes stillto be reported from the Committee Bay drilling, including results from Kinng Gold, Kinng Mountain, Mist, Koffy targets in the northeast portion of the belt.
Results are pending from 37 holes (14,811 meters) drilled at the Company’s Homestake Ridge Project in the Golden Triangle, British Columbia. Targets tested included South Reef and the Homestake Main zone extension.
Committee Bay follow-up drilling to resume in March at the Aiviq discovery and the Three Bluffs deposit.
Michael Henrichsen, Chief Geologist and COO commented, “We are very pleased to have hit the broad intervals of consistent mineralization at our Inuk target. We have extended the mineralized system by 400 meters to the northeast under an intrusive cover rock sequence and glacial till. Our understanding of the geology of the Inuk prospect is at an early stage but we are highly encouraged at the strength of sulphidation and gold mineralization within banded iron formations over 10’s of meters.”
Inuk Results
The mineralization encountered from the recent drilling at Inuk is believed to be associated with the interaction of a regional fold and a fault zone that truncates it (Figure 1). Historical core drilling at Inuk was confined to an area 150 meters by 100 meters with intercepts up to 12.6 meters of 16.04 g/t Au. Similarly, …read more
Source:: The Korelin Economics Report
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