#Mining #Stock News- AUX (TSXV: $AUX.V) (OTC:
$AUXRF) DRILLS 103 G/T GOLD OVER 2.74 METRES AND 126 G/T GOLD OVER 1.1
METRES AT THE GEORGIA PROJECT, @AUXResources
Vancouver, British Columbia, February 9, 2021 – Investorideas.com Newswire and MiningSectorStocks.com report- AUX Resources Corporation (TSXV: AUX) (OTC: AUXRF) is pleased to report assay results for the 2020 drill program at the Georgia Project, which hosts the past-producing Georgia River Mine. Georgia is located on the Portland Canal tidewater, 16 kilometres south of the town of Stewart, BC, in the prolific Golden Triangle.
Read this news featuring AUX in full at https://www.investorideas.com/news/2021/mining/02091AUX-Gold-Georgia.asp
Highlights
·
2020 Georgia drill
program extends mineralization from the historic high-grade gold mine along
strike and at depth
·
Drill results
include 103 g/t gold and 53 g/t silver over 2.74 metres (GE20023) and 126 g/t
gold and 74 g/t silver over 1.1 metres (GE20022)
·
Assays pending on
5,000 metres of recovered historic diamond drill core at Georgia
·
Assays pending on
channel samples from extensive outcropping silver mineralization over 1,400
metres of strike length at the Silver Crown property
Watch the video - https://www.youtube.com/watch?v=X47CO2RuqhE&feature=youtu.be
“Despite having been explored for over a century, our
intercepts of the SW Vein are among the best ever recorded around the Georgia River
Mine. Our drilling confirms that the target is open in multiple directions,
including depth,” comments Ian Slater, Chief Executive Officer, “The
opportunity to look at this historic high-grade mine with new perspectives shows
enormous potential. Advancing underexplored historic mines has long been a
powerful and successful driver in the Golden Triangle, and we see numerous
parallels with other projects in the area, including Brucejack and the Scottie
Gold Mine.”
The 2020 drilling program focused on testing the
extensions, both along strike and at depth, of the SW Vein. The high-grade
intercepts returned for the SW Vein at depth indicate that the zone remains
open at depth and along strike. Drilling in 2021 will be focused on testing the
limits of this high-grade ore zone and testing structural controls of
subsidiary high-grade ore shoots. Other local veins sets will be further
evaluated for the potential to host similar mineralization.
In
addition to the drilling completed this year, AUX recovered 5,000 metres of
historic diamond drill core from exploration between 1979 and 1996. The
majority of this core had only been selectively sampled at obvious veins with
minimal shoulder sampling. An extensive recovery program was completed, and the
re-boxed core was moved to AUX’s warehouse in Stewart for re-logging,
re-sampling, and improved geochemistry. The majority of these historic diamond
drill holes intersect the SW Vein and will contribute to an improved
understanding of this zone. Results are
expected in February.
|
Drill Hole |
Target |
From (m) |
To (m) |
Width* (m) |
Gold (g/t) |
Silver (g/t) |
|
GE20001 |
SW Vein |
95.70 |
96.25 |
0.55 |
5.81 |
7.8 |
|
and |
|
201.20 |
202.20 |
1.00 |
1.95 |
1.0 |
|
GE20003 |
SW Vein |
133.65 |
134.75 |
1.10 |
7.54 |
16.5 |
|
GE20011 |
Bullion Vein |
53.40 |
54.00 |
0.60 |
12.00 |
10.5 |
|
GE20016 |
Gem Vein |
43.96 |
44.60 |
0.64 |
2.87 |
2.4 |
|
GE20019 |
Summit Vein |
156.45 |
157.80 |
1.35 |
2.29 |
18.1 |
|
GE20022 |
SW Vein |
60.26 |
62.50 |
2.24 |
62.50 |
36.6 |
|
including |
|
61.40 |
62.50 |
1.10 |
126.00 |
73.8 |
|
and |
|
85.10 |
87.80 |
2.70 |
3.11 |
0.8 |
|
including |
|
86.54 |
87.80 |
1.26 |
6.10 |
1.2 |
|
and |
|
97.65 |
100.40 |
2.75 |
1.07 |
0.7 |
|
GE20023 |
SW Vein |
66.30 |
70.44 |
4.14 |
69.10 |
35.5 |
|
including |
|
67.70 |
70.44 |
2.74 |
103.60 |
52.7 |
|
and |
|
93.50 |
95.00 |
1.50 |
2.16 |
1.0 |
|
GE20024 |
SW Vein |
108.00 |
109.25 |
1.25 |
1.26 |
1.0 |
Table 1. Results from 2020 drill program at Georgia. *True
width is estimated to be 80 to 95% of interval width.
Exploration in and around the Georgia River Mine began
in 1910 with the majority of work focused on the Bullion, SW, and Gem veins.
The mine was put into production in 1937 with a head grade of 22.6 g/t gold.
There was a hiatus in mining and exploration activities between 1939 and 1979.
Between 1979 and 2003 exploration included geochemical exploration and mapping,
several ground geophysical surveys, using magnetic, max-min and induced
polarisation techniques and diamond drill programs. Exploration by AUX from 2010 onwards
comprised further geological mapping and geochemical sampling, a property-wide
airborne magnetic and V-TEM survey and a synthetic aperture radar (SAR)
survey.
Historic drill intercepts at Georgia include:
·
178.4 g/t gold and 171 g/t silver over 0.49 metres (110.79 to 111.28
metres)
·
119.2 g/t gold and 66.4 g/t silver over 1.4 metres (72.71 to 74.09
metres) including 342.5 g/t gold and 190.6 g/t silver over 0.3
metres (73.48 to 73.78 metres)
·
140.8 g/t gold and 213.5 g/t silver over 0.6 metres (33.93 to 34.54
metres)
The most recent documented, unclassified historic
resource estimate for the SW Vein of the Georgia River Mine was completed in
1990 (BC Assessment Report 19,983) and estimated 276,403 tonnes of 27.6 g/t
gold and 20.9 g/t silver. The estimate was based on 50 drill holes and
considers a minimum mining width of 1.22 metres. The SW Vein historical
estimate does not comply with CIM Definition Standards on Mineral Resources and
Mineral Reserves as required by NI 43-101 and has no comparable resource
classification. A qualified person has not done sufficient work to classify the
historical estimate as a current mineral resource and AUX is not treating this historical
resource as a current resource.
Figure 1. Plan view map of the 2020 SW and Bullion Vein
drilling program.
Silver Crown
The
2020 field season also comprised extensive work on the newly acquired Silver
Crown property, including field mapping and surficial sampling. Strike length
of the mineralized corridor was confirmed to be in excess of 1,400 metres.
Channel samples were collected over 500 metres of vein strike length with
samples collected every 40 metres. Results from the Silver Crown channel
sampling are expected in February. A 3,500 metre diamond drill program is
planned for Silver Crown for the 2021 field season.
Quality Assurance and Control
Samples were analyzed at MSALABS in Langley, Canada
(an ISO 9001 accredited facility). The sampling program was conducted by the
geological team under the supervision of Dr. Craig Stewart, Exploration
Manager. A secure chain of custody was maintained in transporting and storing
samples. Gold was assayed using fire assay with atomic absorption spectrometry
and gravimetric finish when required (i.e., >9 g/t gold). Analysis by four
acid digestion with 48 element ICP-MS analysis was conducted on all samples
with silver and base metal overlimits being re-analyzed by emission
spectrometry.
About AUX Resources
AUX
holds more than 27,000 hectares of strategic claims in the Stewart Mining Camp
in the Golden Triangle of British Columbia, which is among the world’s most
prolific mineralized districts, including the high-grade gold Georgia Project
centred on the past-producing Georgia River Mine. The Georgia River Mine, which last operated in 1939 with a head grade of
22.6 g/t gold, contains 1.2 kilometres of underground access on three levels. AUX is actively
consolidating the Stewart Mining Camp.
The
technical disclosures in this release has been read and approved by Dr. Thomas
Mumford, Ph.D., P.Geo., a qualified person as defined in National Instrument
43-101.
For
further information please see www.auxrc.com or contact:
Ian Slater, Chief Executive Officer
+1 604 638 2545
Mars Investor Relations
+1 604 715 6845
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. This news release includes
forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking. Although AUX believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business conditions and
regulatory and administrative approvals, processes and filing
requirements. There can be no assurances
that such statements will prove accurate and, therefore, readers are advised to
rely on their own evaluation of such uncertainties. We do not assume any obligation to update any
forward-looking statements.
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