Aurion Intersects 10.6 g/t Au over 3.4 m at Aamurusko Northwest; Second Drill Rig Added

TSX-V: AU

ST. JOHN'S, Sept. 5, 2019 /CNW/ - Aurion Resources Ltd. (TSX VENTURE:AU) ("Aurion" or the "Company") is pleased to announce that it has received assays from an additional 6 drill holes at the Aamurusko Northwest (NW) prospect on its wholly-owned Risti Project in northern Finland. These holes are follow-up to drill results reported on June 26^th, 2019, which intersected a wide zone of gold mineralization (13.31 g/t Au over 19.54 m including 22.58 g/t Au over 8.18 m in drill hole AM19095). 

Highlights:

• 3.51 g/t Au over 31.12 m including 252.00 g/t Au over 0.33 m intersected in drill hole AM19094
• 1.84 g/t Au over 31.12 m was originally reported (June 26^th press release), however, re-assay results were pending at that time
• 10.60 g/t Au over 3.40 m including 52.50 g/t Au over 0.63 m intersected in drill hole AM19097
• 1.79 g/t Au over 12.95 m including 17.2 g/t Au over 0.65 m intersected in drill hole AM19100
• 1.38 g/t Au over 15.34 m including 10.15 g/t Au over 0.38 m intersected in drill hole AM19101
• Wide zones of disseminated and stringer mineralization accompany high-grade veins
• To date, at Aamurusko NW, sixteen of eighteen (89%) drill holes intersected gold mineralization and eight of eighteen have intercepts of 15 g/t Au or higher
• Mineralization remains open at Aamurusko Main and NW
• The source of the high-grade boulders in the 600 m distance between Main and NW has yet to be drilled
• A second helicopter supported drill rig has been brought in to accelerate drilling
• Aurion is fully-funded with CA$22 million in working capital
• See table of assays below and click the link to see maps and sections:
• https://aurionresources.com/site/assets/files/1307/nr1911figures.pdf

Discussion

Aamurusko NW is located approximately 600 m northwest of the Aamurusko Main target area where several high-grade intercepts were previously reported, including 789.10 g/t Au over 2.9 m, 42.40 g/t Au over 4.0 m and 24.50 g/t Au over 4.75 m.

Mineralization at Aamurusko NW is defined by wide zones of mineralized material comprising high-grade veins (10 – 250 g/t Au) accompanied by highly anomalous disseminated pyrite (0.1 to 5 g/t Au), as well as narrow-sheeted and stockwork veinlets.

To date, assays have been received for 8 drill holes on 4 sections 20 m apart.  Assays are pending for an additional 5 drill holes from Aamurusko NW.

The estimated true thickness of the zone is 70% of core length, trends NE-SW and may have a plunge.  The zone continues to a depth of at least 150 m vertically and is open.

Given Aurion's success to date, a second, more powerful drill rig has been added, and is currently drilling Aamurusko NW.  The addition of the second rig is anticipated to improve drilling efficiency substantially.

Aurion is fully-funded with CA$22 million in working capital.

Aamurusko NW Drill Hole Highlight Summary Table
HOLE_ID	Azimuth	Dip	FROM_m	TO_m	Width_m	Au_ppm (g/t)	Comments
AM19094	153.1	-46.4	55.88	87.00	31.12	3.51
incl			55.88	56.21	0.33	252.00
incl			76.61	77.26	0.65	13.40
AM19095	153.1	-56.0	69.86	98.08	28.22	9.42
incl			77.64	97.18	19.54	13.31
incl			77.64	80.20	2.56	24.21
incl			89.00	97.18	8.18	22.58
incl			93.11	97.18	4.07	41.14
AM19096	153.2	-46.4	96.08	96.54	0.46	15.50
AND			139.60	153.00	13.40	1.09
incl			145.60	146.20	0.60	14.90
AM19097	153.2	-64.2	103.77	112.88	9.11	0.50
AND			129.60	133.00	3.40	10.60
incl			132.37	133.00	0.63	52.50
AM19098	152	-47.6					no significant values
AM19099	152	-60.0	105.90	106.25	0.35	51.90
AND			129.80	137.30	7.50	0.38
AM19100	153.2	-45.8	46.00	58.95	12.95	1.79
incl			52.10	58.95	6.85	2.81
incl			56.75	58.95	2.20	6.33
incl			58.30	58.95	0.65	17.20
AM19101	153.2	-60.0	35.10	45.90	10.80	0.80
incl			35.10	36.84	1.74	3.73
AND			52.60	91.50	38.90	0.72	includes 0.88 m of lost core having 0 ppm Au assay
incl			52.60	67.94	15.34	1.38	includes 0.88 m of lost core having 0 ppm Au assay
incl			52.60	56.10	3.50	2.50
incl			55.72	56.10	0.38	10.15
incl			64.60	67.94	3.34	2.77
All widths are core widths.  True width is not known at this time.
All assay values are uncut.

Drill hole AM19094 up-dip of 95 intersected 3.51 g/t Au over 31.12 m (1.84 g/t Au over 31.12 m, was previously reported however re-assays were pending at the time), starting at 55.88 m downhole and approximately 45 m vertically below surface. 

Drill hole AM19095 intersected a wide zone of alteration and quartz veining assaying 9.42 g/t Au over 28.22 m, including 13.31 g/t Au over 19.54 m and 22.58 g/t Au over 8.18 m starting at 69.86 m downhole and approximately 70 m vertically below surface. 

Drill hole AM19096 drilled 20 m south-southwest of 94/95 intersected 15.50 g/t Au over 0.46 m and 1.09 g/t Au over 13.40 m including 14.5 g/t Au over 0.60 m starting at 96.08 and 139.60 m respectively, downhole. 

Drill hole AM19097 drilled on the same section as 96 intersected 10.60 g/t Au over 3.40 m including 52.50 g/t Au over 0.63 m starting at 129.6 m downhole.

Drill hole AM19098 drilled 20 m south-southwest of 96/97 had no significant values.

Drill hole AM19099 drilled on same section as hole 98 intersected 51.90 g/t Au over 0.35 m and 0.38 g/t Au over 7.5 m starting at 105.90 m and 129.8 m downhole, respectively.

Drill hole AM19100 drilled 20 m north-northeast of 94/95 intersected 1.79g/t Au over 12.95 m including 17.20 g/t Au over 0.60 m starting at 46.00 m downhole.

Drill hole AM19101 drilled on the same section as hole 100 intersected multiple mineralized zones including 0.80 g/t Au over 10.80 m starting at 35.10 m downhole and 1.38 g/t Au over 15.34 m including 10.15 g/t Au over 0.38 m starting at 52.6 m downhole and 2.77 g/t Au over 3.34 m starting at 64.6 m downhole.

Summary

To date, seventy-five of ninety (83%) drill holes completed at Aamurusko (Main and NW) have intersected gold mineralization. Twenty-four have intercepts of 15 g/t Au or higher.  At Aamurusko NW alone, sixteen of eighteen (89%) drill holes intersected gold mineralization and eight of eighteen have intercepts of 15 g/t Au or higher. Gold mineralization has been intersected in multiple rock types to a depth of 180 m below surface.  Mineralization remains open at Aamurusko Main and NW. The 600 m distance between Main and NW, where numerous high-grade boulders have been discovered, has been virtually untested.

High grade gold mineralization, greater than 10 g/t Au, intersected at shallow depths (40 m vertically from surface) at both the Aamurusko Main and NW targets expands the potential.  The Aamurusko boulder field, comprising 1,210 angular boulders that assayed an average of 25 g/t Au (previously disclosed), is > 1.3 km wide.  This indicates there are possibly multiple sources to the many high-grade boulders at Aamurusko. 

Comments

"Results to date suggest potential for expansion of the zone at Aamurusko NW and discovery of additional zones of gold mineralization along strike between Aamurusko NW and Aamurusko Main," commented Mike Basha, President and CEO.  "Intersecting high-grade, mineralization enveloped within wide zones of weakly mineralized, but highly anomalous, gold-bearing bedrock is encouraging." 

Background

The geological setting of the Risti project has many similarities to prolific gold-rich orogenic gold belts globally, specifically the Timmins camp of the Abitibi geological province of Northern Ontario. The Aamurusko zone appears to be underlain by young unconformable clastic rocks (meta-sandstones and conglomerates) of the Kumpu Group. These Kumpu Group conglomerates resemble the Timiskaming conglomerates of the Timmins and Kirkland Lake area of the Abitibi province and occur in a similar geo-tectonic setting (both represent the youngest stratigraphic sequence within their respective belts). The Kumpu Group and the Timiskaming group were deposited in late orogenic extensional basins. They form in relation to major movement along regional faults or deformation zones. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with the Timiskaming conglomerates (or their equivalents) in close proximity to major regional deformation (fault) zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones. The Kumpu Group appears to have been deposited in a similar geological setting adjacent to the Sirkka shear zone, which is a major deformation zone in the Central Lapland Greenstone Belt. Strong alteration including fuchsite, tourmaline, iron carbonate, albite and quartz veining is observed along the entire length of this structure.

Quality Assurance and Quality Control

All samples were delivered to ALS preparation facility in Sodankyla, Finland where sample preparation work was completed. All analytical work was completed at ALS facility in Loughrea, Ireland.  ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005).  All samples were analyzed for gold using the Au-AA26 procedure (50g fire assay with AAS finish: Lower Detection Limit 0.01 g/t gold; Upper Limit – 100 g/t gold).  Any samples that returned over-limit values (>100 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (>100 g/t gold) were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000 ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 100 micron stainless steel screen. Any material remaining on the screen (>100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<100 micron) is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (+) 100 and (-) 100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.  Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 20 samples.  ALS has its own QA/QC protocol using standards, blanks and duplicates.

Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release.  For more information on these projects please visit our website at www.aurionresources.com.

Forward-Looking Statement
Certain statements contained in this release constitute forward-looking information.  These statements relate to future events or future performance.  The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events.  Actual future results may differ materially.  The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward‑looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward‑looking information. The foregoing statements expressly qualify any forward‑looking information contained herein.

On behalf of the Board of Directors,

Michael Basha, Chief Executive Officer

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.

Mark Santarossa, Vice President, Corporate Development, Cell: [phone], Email: [email protected]

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