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Auryn Resources identifies two potential high grade gold targets at Committee Bay after reinterpreting data

The resource group told investors on Wednesday it has identified two significant fold hinge targets that have not yet been drilled

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Over the past four exploration seasons we have built an incredible data set that has looked at the belt holistically," said the group's chief geologist

Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) said it has reinterpreted the geology at its Committee Bay gold project in Nunavut, yielding some positive results.

The resource group told investors on Wednesday it has identified two significant fold hinge targets that have not yet been drilled at the Anuri and Amautik prospects at the property, which could host high-grade gold.

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"Over the past four exploration seasons we have built an incredible data set that has looked at the belt holistically," Michael Henrichsen, the group's chief operating officer and chief geologist said in a statement.

"This has allowed us to identify the most important factors that produce high-grade mineralization versus low-grade mineralization across the belt. In addition, we have had a key breakthrough in identifying a new style of structural geometry, where potential fold hinge zones are plunging shallowly and are not necessarily exposed on surface. We believe our targets share geometries similar to those observed at the Meadowbank and Amaruq deposits and look forward to our future drill programs," he added.

Auryn's executive chairman, Ivan Bebek noted that over the past four years, the firm had successfully drilled multiple gold zones on the 300-kilometer trend, but not the high-grade sources.

"Our most recent efforts last year led us to an instrumental breakthrough in targeting high-grade mineralization, which we are very excited to pursue as the gold price continues to rise," Bebek said.

Both the Anuri and Amautik prospects will now be advanced to drill stage by conducting ground-based geophysical induced polarization surveys, the firm added.

Auryn describes itself as a tech-driven junior explorer, focused on finding and advancing globally significant precious and base metal deposits. It has six projects, including two flagships: the Committee Bay high-grade gold project in Nunavut, and the Sombrero copper-gold project in southern Peru.

Contact the author at [email protected] 

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TSX:AUG
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Full interview: Auryn Resources new theory at Committee Bay in Nunavut...

Auryn Resources (TSE: AUG- NYSEAMERICAN) Executive Chairman Ivan Bebek joined Steve Darling from Proactive Vancouver with news the company is taking a new look at their Committee Bay property by combining historical and fresh data. Bebek discusses what that new look has told them about the...

on 29/5/20

2 min read