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Auryn Resources updates on how coronavirus impacting exploration efforts in Peru and Canada

Employees at its corporate offices in Vancouver and Edmonton have the option to work from home while all personnel have been recalled from the field in Peru

Auryn Resources Inc - Auryn Resources Inc updates on how COVID-19 is impacting its exploration efforts in Peru and Canada
In Canada, Auryn anticipates the release of its initial PEA on Homestake Ridge, its high-grade gold-silver project in British Columbia

Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) on Wednesday provided an update on how coronavirus (COVID-19) is impacting its exploration efforts in Peru and Canada.

In a statement, the junior exploration company said it has offered all employees at its corporate offices in Vancouver and Edmonton the option to work from home, aligning it with the federal government’s call that all Canadians work from home where possible. 

Management will stay abreast of the situation as it unfolds and will adjust policies accordingly, Auryn added.

READ: Auryn Resources receives environmental permit for Sombrero copper-gold project in Peru

In Peru, Auryn said it has recalled all personnel from the field prior to the Peruvian government mandating a temporary two-week border lockdown. The country has suspended all work at public institutions for 15 days, and as a result, the company's Lima employees will be working from home for this period. 

The company said such disruptions can be expected to result in modest delays in the course of business. Presently, Peru has a total of 117 confirmed cases of the virus and no deaths. Auryn said it will resume operations in the country once the borders have reopened and the government deems that the virus is no longer a threat.

In Canada, Auryn said it anticipates the release of its initial PEA on Homestake Ridge, its high-grade gold-silver project in British Columbia's Golden Triangle. 

In addition, Auryn will be releasing revised targets at the Committee Bay project in Nunavut based on a break-through in geophysical targeting in differentiating low-grade-versus-high-grade gold responses in conductivity data.

"The health and safety of our employees and the communities we work in are of primary concern,” said Ivan Bebek, executive chairman. 

“Although we are temporarily unable to conduct work in Peru, we are very fortunate to have a strong balance sheet amidst the volatile market created by COVID-19. Capital preservation is a priority, however, once humanity gets past this challenge, we will be in a great position to continue to deliver on the promise of our exceptional portfolio of mineral assets."

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Auryn Resources Inc

Price: 1.85 CAD

Market: TSX
Market Cap: $193.66 m

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