20:06:16 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Auryn Resources Inc
Symbol AUG
Shares Issued 49,124,979
Close 2016-05-05 C$ 1.66
Market Cap C$ 81,547,465
Recent Sedar Documents

Auryn Resources begins exploration at Committee Bay

2016-05-05 11:06 ET - News Release

Mr. Shawn Wallace reports

AURYN RESOURCES COMMENCES SPRING MOBILIZATION AND EXPLORATION PROGRAMS AT THE COMMITTEE BAY GOLD PROJECT

Auryn Resources Inc. has initiated the spring mobilization and exploration program at the Committee Bay gold project located in Nunavut, Canada. The spring mobilization is well under way to stage fuel and exploration supplies in support of the upcoming belt-wide summer exploration program.

Shawn Wallace, president and chief executive officer, stated, "With the recently completed financing, the company is in an excellent position to deliver significant value to shareholders as we embark on a $10-million discovery-based exploration program on our Committee Bay asset."

Auryn is conducting 6,000 line kilometres of high-resolution airborne electromagnetic and magnetic geophysical surveys over the Three Bluffs and Anuri corridor target areas of the belt. These geophysical surveys are designed to advance multiple high-grade targets to drill stage for 2016 and 2017. In addition, Auryn is conducting 800 line kilometres of ground-based magnetic surveys over areas in the vicinity of the Three Bluffs deposit with the aim of delivering new drill targets that could expand upon the deposit along strike and at depth.

The focus of the summer program is to make a second major discovery, continue the company's innovative exploration approach belt wide and to further delineate the most prospective drill targets identified to date. The exploration program will comprise approximately 10,000 metres of rotary air blast (RAB) drilling utilizing a lightweight mobile drill in the southwestern part of the belt, 5,000 square kilometres of aerial drone imagery, and a till sampling program consisting of 6,000 samples across the central and northeast regions of the belt.

The RAB drill program will test the continuation at depth and along strike of high-grade mineralization at West Plains and will also target the largest gold-in-till anomalies within the 20-kilometre-long gold-bearing Anuri corridor.

Michael Henrichsen, chief geologist and chief operating officer of Auryn, stated: "Excellent progress has been made with our world-class multidisciplined exploration team to develop the highest probability of success drill targets in the SW region of the belt and in the immediate vicinity of the Three Bluffs deposit. Our approach, in combination with the belt-wide reconnaissance exploration, will be to put Auyrn in a solid position for the potential discovery of multiple high-grade gold deposits.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.