Canada Markets close in 3 hrs 42 mins
  • S&P/TSX

    18,697.82
    -281.19 (-1.48%)
     
  • S&P 500

    3,664.80
    -79.72 (-2.13%)
     
  • DOW

    29,466.98
    -459.96 (-1.54%)
     
  • CAD/USD

    0.7311
    +0.0034 (+0.4716%)
     
  • CRUDE OIL

    92.42
    +3.97 (+4.49%)
     
  • BTC-CAD

    26,802.94
    -739.71 (-2.69%)
     
  • CMC Crypto 200

    446.73
    -8.29 (-1.82%)
     
  • GOLD FUTURES

    1,712.30
    -8.50 (-0.49%)
     
  • RUSSELL 2000

    1,713.20
    -39.31 (-2.24%)
     
  • 10-Yr Bond

    3.8610
    +0.0350 (+0.91%)
     
  • NASDAQ

    10,735.73
    -337.58 (-3.05%)
     
  • VOLATILITY

    31.25
    +0.73 (+2.39%)
     
  • FTSE

    6,991.09
    -6.18 (-0.09%)
     
  • NIKKEI 225

    27,116.11
    -195.19 (-0.71%)
     
  • CAD/EUR

    0.7470
    +0.0044 (+0.59%)
     

Aurion-B2Gold JV Extends Gold Mineralization at Helmi and Intersects New Zone of Gold Mineralization to the Northwest

·11 min read
  • New gold intercepts at the Helmi Discovery include:

  • Scout drilling intersects high-grade gold mineralization, 39.40 g/t Au over 1.40 m, 900 m northwest of Helmi

  • Assays pending for 12 holes

  • Summer drilling program commenced

ST. JOHN'S, Nl, June 13, 2022 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") reports results for 14 holes from the winter 2022 drilling program, including 9 drilled at the Helmi Discovery and 5 scout holes testing selected regional targets on the Aurion-B2Gold Corp. (TSX: BTO) ("B2Gold") Joint Venture (JV) in the Central Lapland Greenstone Belt in northern Finland.

Company Logo (CNW Group/Aurion Resources Ltd.)
Company Logo (CNW Group/Aurion Resources Ltd.)

Summary

  • New gold intercepts at the Helmi Discovery include:

  • Scout drilling intersects high-grade gold mineralization

  • Assays pending for 12 holes

  • Summer drilling program commenced

Comments

"We continue to be impressed by the continuity and consistency of mineralization at Helmi," Commented Matti Talikka, Aurion's CEO. "Drilling along the 8 km trend, defined from the west by our early stage Kutuvuoma prospect (11.37 g/t Au over 13.30 m) to the eastern extent of Rupert's Ikkari Discovery (3.95 Moz Au), continues to intersect impressive widths and grades. Further north and west we are also pleased to see evidence of gold-copper mineralization, which may be represent a separate mineralizing system. The scale of this opportunity begins to resemble that of globally significant gold camps and has yet to be fully defined."

Figures associated with this release can be found at the following link: https://www.aurionresources.com/site/assets/files/1441/nr22_09figure.pdf.

Winter 2022 drill program at Helmi

The Helmi Discovery is located approximately 1.3 km west of Rupert Resources' 3.95-million-ounce Ikkari Discovery, along 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.

The Helmi Discovery was made during the second half of 2021 and the maiden drilling program of 20 holes, totaling 5,201.5 m, returned a number of significant intercepts including 1.84 g/t Au over 52.40 m, 1.73 g/t Au over 44.95 m, 1.42 g/t Au over 30.70 m, 1.42 g/t Au over 30.60 m, 1.46 g/t Au over 28.70 m and 1.11 g/t Au over 45.80 m.

Mineralization at Helmi is hosted by strongly deformed and altered, quartz-carbonate veined ultramafic rocks and mafic tuffs with fine grained disseminated and veinlet pyrite and local disseminated and veinlet magnetite.

The mineralized zones at Helmi are open along strike and at depth. The Helmi area covers approximately 1.5 km strike length of the 8 km long structural corridor of which the majority remains untested.

A total of 29 holes, 6,552.40 m, were drilled at Helmi and nearby target areas from February to April 2022. The program was designed to test the continuity of gold mineralization encountered in the maiden drill program as well as test additional targets to the north and northwest of the Helmi Discovery, identified by geophysics and base of till sampling.

This press release contains results for 9 holes (2,195.80 m) that targeted the Helmi Discovery and 5 scout holes (1,203.60 m) that tested regional targets.

At Helmi, the mineralization was extended along strike to the west and up and down dip. Scout drilling intersected a new zone of high-grade gold mineralization approximately 900 northwest of Helmi.

Table 1: Aurion-B2Gold JV Drilling Summary

Aurion-B2Gold JV Drilling Result Summary

Hole ID

Azimuth

Dip

From (m)

To (m)

Width (m)

Au (g/t)

Target Area / Notes

IKK22020

159.5

-50.0

58.00

59.25

1.25

0.98

Helmi

and



68.00

69.00

1.00

1.50


and



79.00

79.90

0.90

1.12


and



84.07

85.00

0.93

2.74


and



105.27

119.00

13.73

0.72


IKK22021

159.5

-50.0

365.85

371.55

5.70

1.21

Helmi

IKK22022

159.5

-50.0

103.00

106.45

3.45

1.22

Helmi

and



112.05

121.70

9.65

1.42


and



137.85

142.15

4.30

0.69


IKK22023

159.5

-50.0

32.85

34.25

1.40

0.94

Helmi

IKK22024

159.5

-55.0

119.00

150.85

31.85

1.57

Helmi

and



162.70

167.75

5.05

1.01


and



174.90

193.20

18.30

2.05


IKK22025

159.5

-50.0

98.50

137.50

39.00

1.46

Helmi

IKK22026

159.5

-50.0

149.55

150.00

0.45

45.80

Helmi

and



155.25

156.00

0.75

1.09


IKK22029

159.5

-50.0

151.95

195.40

43.45

2.44

Helmi

incl.



152.40

158.90

6.50

4.19


IKK22030

159.5

-50.0

166.00

233.20

67.20

1.44

Helmi

and



239.60

241.00

1.40

1.32


KUE22010

149.5

-50.0

NSV

Scout

KUE22011

159.5

-50.0

64.30

65.70

1.40

39.40

Scout

KUE22012

159.5

-50.0

NSV

Scout

KUE22015

159.5

-50.0

NSV

Scout

KUE22016

339.5

-50.0

NSV

Scout

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

NSV - no significant values





Drill hole IKK22020 was collared 125 m to the northwest from IKK21010 (1.11 g/t Au over 45.80 m) and was drilled from north to south. IKK22020 intersected several mineralized intervals including 0.72 g/t Au over 13.73 m from 105.27 m.

Drill hole IKK22021 was collared 185 m to the northwest from IKK21011 (0.51 g/t Au over 41.00 m) and was drilled from north to south. IKK22021 intersected 1.21 g/t Au over 5.70 m from 365.85 m across the contact between altered and veined mafic rocks and Kumpu Group sediments.

Drill hole IKK22022 was collared 50 m to the northwest from IKK21004 (0.64 g/t Au over 13.45 m and 0.87 g/t Au over 36.32 m) and was drilled from north to south. IKK22022 intersected several mineralized intervals including 1.42 g/t Au over 9.65 m from 112.05 m.

Drill hole IKK22023 was collared 260 m to the northwest from IKK21010 (1.11 g/t Au over 45.80 m) and was drilled from north to south. IKK22023 did not intersect any significant values within the altered ultramafic-mafic unit and is interpreted to have drilled below the mineralized shoot.

Drill hole IKK22024 was collared 60 m to the northwest from IKK21011 (0.51 g/t Au over 41.00 m) and was drilled from north to south. IKK22024 intersected a wide zone of alteration and mineralization returning intervals of 1.57 g/t Au over 31.85 m from 119.00 m, 1.01 g/t Au over 5.05 m from 162.70 m and 2.05 g/t Au over 18.30 m from 174.90 m.

Drill hole IKK22025 was collared 145 m to the west from IKK21013 (3.22 g/t Au over 5.00 m) and was drilled from north to south. IKK22025 intersected a mineralized zone of 1.46 g/t Au over 39.00 m from 98.50 m. This interval is a significant westward extension to the previously defined Helmi mineralization.

Drill hole IKK22026 was collared 160 m to the northwest from IKK21009 (1.42 g/t Au over 30.70 m) and was drilled from north to south. IKK22026 intersected the altered ultramafic-mafic unit returning intervals of 45.80 g/t Au over 0.45 m from 149.55 m and 1.09 g/t Au over 0.75 m from 155.25 m.

Drill hole IKK22029 was collared 180 m to the northwest from IKK21003 (1.84 g/t Au over 52.40 m) and was drilled from north to south. IKK22029 intersected a mineralized zone of 2.44 g/t Au over 43.45 m from 151.95 m including 4.19 g/t Au over 6.50 m from 152.40 m.

Drill hole IKK22030 was collared 215 m to the northwest from IKK21010 (1.11 g/t Au over 45.80 m) and was drilled from north to south. IKK22030 intersected a mineralized zone of 1.44 g/t Au over 67.20 m from 166.00 m.

Scout drill hole KUE22010 was collared approximately 780 m to the west-northwest of the Helmi Discovery and was drilled from north to south. KUE22010 intersected a mineralized zone with 0.56% Cu over 15.00 m from 139.60 m which also includes several elevated (>0.10 g/t Au) values.

Scout drill hole KUE22011 was collared approximately 900 m to the northwest of the Helmi Discovery and was drilled from north to south. KUE22011 intersected a mineralized interval of 39.40 g/t Au over 1.40 m from 64.30 m. This interval, along with other elevated (>0.10 g/t Au) values, lies within a zone of 0.34% Cu over 12.35 m from 59.65 m.

Scout drill hole KUE22012 was collared approximately 1,300 m to the northwest of the Helmi Discovery and was drilled from north to south. KUE22012 did not intersect significant mineralization.

Scout drill hole KUE22015 was collared approximately 1,300 m to the northwest of the Helmi Discovery and was drilled from north to south. KUE22015 did not intersect significant mineralization.

Scout drill hole KUE22016 was collared approximately 1,200 m to the west-northwest of the Helmi Discovery and was drilled from south to north. KUE22016 intersected a mineralized zone with 0.23% Cu over 6.00 m from 155.00 m which also includes several elevated (>0.10 g/t) values to 0.35 g/t Au.

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 (2.05 g/t Au over 77.50 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).

B2Gold is the operator of the Joint Venture. The preliminary budget for 2022 is approximately CAN$10 million and includes approximately 12,000 m of drilling. The JV will also continue to perform geophysical surveys and base of till sampling programs that have been successfully used to generate drill targets.

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 and Rosia Montana, Romania. 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-AA26 procedure (50 g fire assay with AAS finish: Lower Detection Limit ("LDL") 0.01 g/t gold; Upper Detection Limit ("UDL") – 100 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/June2022/13/c2756.html