Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) said Friday that it has identified the age of the intrusives directly associated with mineralization at its Sombero copper-gold skarn project in Peru, and it matches the same Eocene-aged metallogenic event that produced several world-class deposits in the Andahuaylas-Yauri belt.
In a statement, the junior exploration company said that based on results from five uranium-lead samples obtained from diorite sills at the Ccascabamba and Nioc targets, ages range from 38.85 million years to 40.47 million years (Figure 1).
Figure 1: Illustrates the uranium-lead age dates at the Ccasccabamba and Nioc targets within the Sombrero project. The mineralizing intrusives are Eocene in age and equivalent to other world-class deposits to the east, such as Las Bambas.
This places the mineralization at its copper-gold project in the Sombero district in Peru within the same Eocene-aged metallogenic event that produced several world-class deposits in the Andahuaylas-Yauri belt, such as Las Bambas (Figure 2).
Figure 2: Illustrates the potassium-argon age dates of intrusives associated with world-class deposits within the Andahuaylas-Yauri belt (Perello et al, 20031). These dates are equivalent to those obtained in the Sombrero district
It also establishes that the belt extends over 100 kilometers to the west, where the Sombrero project is located.
"The age dating results represent a very significant development in our exploration model and further support the potential for the discovery of world-class deposits,” said Michael Henrichsen, who is the COO and chief geologist at Auryn Resources.
“We are very fortunate to have been first movers on the Sombrero district, consolidating over 130,000 hectares, and to now have determined the world-class Andahuaylas-Yauri belt extends to include Auryn's property," he added.
The junior exploration company is advancing a portfolio of seven assets across North and South America with a highly-skilled team and some impressive investors at its back – Newmont Goldcorp owns nearly 12% of the company.
Two projects stand out in Auryn’s portfolio: the high-grade Committee Bay gold property in Nunavut, Canada and the Sombrero copper and gold asset in Ayacucho, Peru.
Sombrero is part of an emerging copper-gold district in southern Peru in an area surrounded by major projects from Glencore, Barrick and BHP. The highly prospective property is home to seven copper-gold targets with geological formations that are analogous to the major mines in the area.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive