18:46:37 EDT Sat 19 Oct 2019
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Auryn Resources Inc
Symbol C : AUG
Shares Issued 94,507,191
Close 2019-07-05 C$ 2.15
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Auryn Resources begins drilling Committee Bay

2019-07-08 07:42 ET - News Release

Mr. Ivan Bebek reports


Auryn Resources Inc. has commenced drilling at its Committee Bay gold project in Nunavut. The fully financed core drill program is anticipated to test up to four targets based on a combination of geological observations and data analyzed with machine learning. It will consist of approximately 3,000 metres.

A message from Ivan Bebek, executive chairman and director:

"We are very excited to have drills turning again at Committee Bay, where we feel there are significant opportunities to discover world-class high-grade gold deposits. We believe the addition of machine learning to aid in the already extensive targeting process will help our exploration team in the search for high-grade discoveries.

"The last four years of extensive exploration has progressively brought us closer to discovery and we are excited to follow up on the well-developed gold-bearing hydrothermal systems at Aiviq and Kalulik.

"Our portfolio of projects once again becomes live with drilling for potential high-grade gold in Canada while we anticipate continuous results from our Sombrero project in Peru ahead of a maiden drill program by Auryn."

Drill plan

The company plans to drill along the 15-kilometre strike length of the Aiviq-Kalulik structural corridor, which has all the geological characteristics necessary to host major gold deposits with respect to alteration and structural preparation. To enhance the targeting efforts in the field, Auryn will be running induced polarization surveys to identify both chargeability and conductivity targets along the corridor.

Michael Henrichsen (chief operating officer), PGeo, is the qualified person who assumes responsibility for the technical contents of this press release.

About Auryn Resources Inc.

Auryn Resources is a technically driven, well-financed junior exploration company focused on finding and advancing globally significant precious and base metal deposits. The company has a portfolio approach to asset acquisition and has seven projects, including two flagships: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project in southern Peru. Auryn's technical and management teams have an impressive record of successfully monetizing assets for all stakeholders and local communities in which it operates. Auryn conducts itself to the highest standards of corporate governance and sustainability.

About Committee Bay

The Committee Bay gold project is located in Nunavut, Canada. It includes approximately 300,000 hectares situated along the Committee Bay greenstone belt (CBGB). High-grade gold occurrences are found throughout the 300 km strike length of the Committee Bay gold belt with the most significant being the Three Bluffs deposit. The project benefits from existing infrastructure, including bulk storage fuel facilities, five high-efficiency drill rigs and a 100-person camp. The Committee Bay project is held 100 per cent by Auryn subject to a 1-per-cent net smelter royalty (NSR) on the entire project and an additional 1.5-per-cent NSR on a small portion of the project.

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