Canada Markets closed
  • S&P/TSX

    20,206.41
    +106.60 (+0.53%)
     
  • S&P 500

    4,008.01
    -15.88 (-0.39%)
     
  • DOW

    32,223.42
    +26.76 (+0.08%)
     
  • CAD/USD

    0.7782
    +0.0035 (+0.4521%)
     
  • CRUDE OIL

    114.14
    -0.06 (-0.05%)
     
  • BTC-CAD

    38,562.99
    -1,566.71 (-3.90%)
     
  • CMC Crypto 200

    667.04
    +424.36 (+174.87%)
     
  • GOLD FUTURES

    1,823.20
    +9.20 (+0.51%)
     
  • RUSSELL 2000

    1,783.43
    -9.24 (-0.52%)
     
  • 10-Yr Bond

    2.8770
    -0.0580 (-1.98%)
     
  • NASDAQ futures

    12,260.75
    +16.00 (+0.13%)
     
  • VOLATILITY

    27.47
    -1.40 (-4.85%)
     
  • FTSE

    7,464.80
    +46.65 (+0.63%)
     
  • NIKKEI 225

    26,547.05
    +119.40 (+0.45%)
     
  • CAD/EUR

    0.7455
    +0.0019 (+0.26%)
     

Aurion-B2Gold JV Extend Gold Mineralization at Helmi

  • Oops!
    Something went wrong.
    Please try again later.
·8 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
Aurion Logo (CNW Group/Aurion Resources Ltd.)
Aurion Logo (CNW Group/Aurion Resources Ltd.)
  • Broad zones of consistent gold mineralization extend the Helmi Discovery

  • Assay results pending from 7 holes

  • CAN$ 10 million JV budget for 2022

ST. JOHN'S, NL, Jan. 19, 2022 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") reports results for 4 holes drilled at the Helmi Discovery on the Aurion-B2Gold Corp. (TSX: BTO) ("B2Gold") Joint Venture (JV) in the Central Lapland Greenstone Belt in northern Finland.

Summary

  • Broad zones of consistent gold mineralization extend the Helmi Discovery

  • Assay results from an additional 7 holes drilled at Helmi during the 2021 drill program are pending

  • CAN$ 10 million JV budget for 2022

Comments
"Every one of the first five holes at the core of the Helmi Discovery have returned broad intervals of consistent gold mineralization indicating the existence of a mineralized system of scale. Eight of the first 13 holes over the extent of the Helmi Discovery intersected multiple zones of gold mineralization. Only six months after the first drill hole, the Helmi discovery is already showing potential to expand into an economic gold deposit at favorable pace and discovery costs as recently demonstrated by Rupert Resources' with their 3.95 Moz Ikkari Discovery," commented Aurion CEO, Matti Talikka. "On the back of the success in 2021, the JV is planning to increase the level of activities with a budget of CAN$10 million including approximately 12,000 m of drilling. Aurion is pleased to have retained a 30% ownership in the JV. Our strong working capital position enables us to maintain our proportionate share of the JV while continuing to advance our 100% owned properties."

Figures associated with this release can be found at the following link: https://aurionresources.com/site/assets/files/1422/nr_22-02figures.pdf.

Extension of gold mineralization at Helmi Discovery
Three of the four holes (total 1,022.4 m) of the 20-drill hole (total 5,201.5 m) program were drilled in the area of the original Helmi discovery (Press release Oct 25, 2021), approximately 1.3 km west of Rupert Resources' 3.95 million ounce Ikkari Discovery. These holes were designed to test the up dip, down dip and strike continuation of the gold mineralization (1.84 g/t Au over 52.4 m IKK21003, 1.42 g/t Au over 30.6 m IKK21002) identified in the first three holes drilled in the Helmi area.

The Helmi Discovery is located within the Kutuvuoma-Ikkari structural corridor, which is an approximately 8 km long sequence of prospective geology along a domain boundary in the eastern part of the JV property extending from the Ikkari Discovery to the Kutuvuoma test pit.

All of the new holes (IKK21006, IKK21008, IKK21009) in the Helmi area intersected broad mineralized intervals including 1.73 g/t Au over 44.95 m, 1.42 g/t Au over 30.70 m and 1.46 g/t Au over 28.70 m that are comparable to the previous intercepts indicating the existence of a consistent and continuous mineralized system.

Table 1: Aurion-B2Gold JV Drilling Summary

B2Gold-Aurion JV Drilling Result Summary

Hole ID

Azimuth

Dip

From (m)

To (m)

Width (m)

Au (g/t)

Target Area / Notes

IKK21006

339.5

-50.0

109.60

154.55

44.95

1.73

Helmi

incl.



120.60

129.80

9.20

4.00


IKK21008

339.5

-50.0

19.80

48.50

28.70

1.46


and



58.00

68.10

10.10

0.34

Helmi

IKK21009

339.5

-50.0

55.40

86.10

30.70

1.42

Helmi

and



165.40

168.05

2.65

8.39


and



188.97

189.55

0.58

1.43


All widths are core widths. True width is not known at this time. All assay values are uncut.

Drill hole IKK21006 is approximately 90 m undercut to IKK21002 (1.42 g/t Au over 30.6 m from 34.2 m). IKK21006 intersected the same lithological sequence as IKK21002 and a broad mineralized interval of 1.73 g/t Au over 44.95 m from 109.60 m including 4.00 g/t Au over 9.20 m from 120.60 m. The mineralization is mainly hosted by strongly deformed, altered ultramafic rocks with interlayered felsic and mafic tuffs with fine grained pyrite dissemination and pyrite and magnetite veinlets. The mineralized zone is interpreted to extend to approximately 115 m vertical depth from the surface and is open along strike and with depth.

Drill hole IKK21007 was collared 150 m east-northeast from KUE21006 and approximately 600 m west-northwest from IKK21002. The drill hole targeted a geophysical feature and intersected a gabbro intrusion. No significant gold values were returned.

Drill hole IKK21008 is approximately 50 m overcut to IKK21003 (1.84 g/t Au over 52.40 m from 85.30 m). IKK21008 intersected the same lithological sequence as IKK21003 and a broad mineralized interval of 1.46 g/t Au over 28.70 m from 19.80 m and a lower grade zone of 0.34 g/t Au over 10.10 m from 58.00 m. The mineralization is mainly hosted by strongly deformed, altered ultramafic and mafic rocks with fine grained pyrite dissemination and pyrite and magnetite veinlets. The mineralized zone is interpreted to extend to the surface of the bedrock covered by glacial till.

Drill hole IKK21009 was collared approximately 115 m to the east from IKK21002. IKK21009 intersected mineralized zones of 1.42 g/t Au over 30.70 m from 55.40 m, 8.39 g/t over 2.65 m from 165.40 m and 1.43 g/t Au over 0.58 m from 188.97 m. The host rocks and mineralization style are similar to the mineralized intervals in IKK21002 and IKK21006.

Exploration Plans in 2022
Following a successful 2021, the JV is planning to increase the level of exploration activities in 2022. The preliminary budget for 2022 is approximately CAN$10 million. The planned exploration activities include approximately 12,000 m of diamond core drilling of which the majority is dedicated to the Helmi Discovery and the Kutuvuoma-Ikkari structural corridor. Winter season drilling is planned to test targets located within swampy areas. The JV is also planning to perform base of till sampling programs and geophysical surveys that have been successfully used to generate drill targets.

Background
The Joint Venture (30% Aurion/70% B2Gold) covers approximately 331 km2 along the major crustal scale Sirkka Shear Zone in the Central Lapland Greenstone Belt, and includes a number of discoveries such as Helmi (1.84 g/t Au over 52.4 m), Kutuvuoma (16.47 g/t Au over 11.0 m), Soretiavuoma (48 g/t Au over 1.1 m), Sinermä (0.54 g/t Au over 40.2 m), Kiekerömaa (5.8 g/t Au over 5.0 m) and Kettukuusikko (4.33 g/t Au over 20.4 m).

Quality Assurance and Quality Control
All samples were delivered to ALS preparation facility in Sodankylä, Finland where sample preparation work was completed. Analytical work for these samples was completed at ALS facilities in Loughrea, Co. Galway, Ireland. ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2017). Samples were analyzed for gold using the Au-AA24 procedure (50 g fire assay with AAS finish: Lower Detection Limit ("LDL") 0.005 g/t gold; Upper Detection Limit ("UDL") – 10 g/t gold). B2Gold has an internal QA/QC program involving the insertion of certified standards and blanks into the sample stream. ALS has its own QA/QC protocol using standards, blanks and duplicates.

This news release has been reviewed by Andrew Hussey, P.Geo., GIS Geologist and Database Manager for Aurion Resources, a Qualified Person as defined by National Instrument 43-101. For more information on these projects please visit our website at www.aurionresources.com.

About Aurion Resources Ltd. Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.

On behalf of the Board of Directors,
Matti Talikka, CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Aurion Resources Ltd.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/19/c0849.html

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting