Vancouver, British Columbia, October 26,
2020 – AUX Resources Corporation
(TSXV: AUX) is pleased to announce that it has successfully
completed its 2020 field season, including a two-drill program on its high-grade
gold Georgia Project, which hosts the past-producing Georgia River Mine. 24 diamond
drill holes were completed totalling 3,600 metres. The Georgia Project is located on
tidewater 16 kilometres south of the town of Stewart, BC, in the prolific Golden
Triangle (see Figures 1 and 2). Assays are
pending.
Highlights
- 3,600 metres in 24 diamond drill holes completed at Georgia extending mineralization from the historic high-grade gold mine in both directions
- Drilling at the Hume Creek zone supports the model of a larger intrusion-related gold-bearing system
- 2,750 metres of historic diamond drill core recovered and currently being logged and assayed
- Extensive outcropping silver mineralization confirmed over 1,400 metres of strike length at Silver Crown
“We are incredibly pleased with the 2020 exploration
program. We intersected significant extensions of known mineralized zones in the
area surrounding the historic mine site and we are also eagerly awaiting assays from
the new Hume Creek zone which was drilled for the first time,” comments Ian Slater,
Chief Executive Officer. “In addition, our first field season at the newly acquired
Silver Crown property has identified numerous veins hosting silver mineralization
over a large area which will be drilled in 2021.”
Drilling of the Georgia
Project focused on extending known mineralization in veins at the past-producing
Georgia River Mine, testing newly developed, highly prospective targets outside of
the known deposit, and assessing and substantiating the non-compliant historic
high-grade resource at the Georgia River Mine. Multiple drill holes from the 2020
program intercepted extensions of the historic Southwest vein mineralization on the
Georgia property, demonstrating that the mineralization extends along structural
strike beyond previously tested areas and remains open in both directions. The
program also drill tested previously identified vein systems including the Gem,
Summit, and Bullion veins. The Hume Creek zone was a new target for the 2020 season,
and visual observations from drill core are highly encouraging and support the
presence of a large intrusion-related mineralizing system on the
property.
In addition to the 3,600 metres of drilling completed this
year, AUX recovered 2,750 metres of historic diamond drill core from exploration
between 1979 and 1996. The majority of this core had only been selectively sampled
at obvious veins, without any shoulder sampling. An extensive recovery program was
completed, and the re-boxed core was moved off-site for re-logging, re-sampling, and
improved geochemistry. This program will be completed in November 2020. The majority
of these historic diamond drill holes intersect the Southwest vein and will
contribute to an improved understanding of this zone.
Figure 1. AUX
Claims
Figure 2. 2020 Drill Plan - Georgia
Project
The 2020 field season comprised extensive work on the
Independence, Silver Crown, and Dorothy 2 properties (see Figure 1), including field
mapping and surficial sampling. Geochemical sampling of the Independence and Silver
Crown properties generated a total of 37 chip samples covering 43 metres, 107
channel samples covering 106 metres, and 131 grab samples. At Silver Crown, strike
length of the mineralized corridor was confirmed to be in excess of 1,400 metres.
Channel samples were collected over 500 metres of vein strike length with samples
collected every 40 metres. At Independence, our field team examined several historic
adits and collected geochemical samples at key intervals along the property to
further characterize the style and extent of mineralization. A total of 238 soil
samples and 11 rock samples were collected on the Dorothy 2 property. These
geochemical results in conjunction with extensive surface mapping will aid in our
2021 exploration program.
In addition to the above field work, LiDAR
surveys were conducted at Independence, Silver Crown, and Georgia. The
high-resolution imagery and digital elevation model (DEM) produced by these surveys
will be essential to planning and executing the 2021 drill programs, as well as
providing the means to conduct remote-predictive mapping of the properties over the
winter.
About the Georgia
Project
The 9,300-hectare high-grade gold Georgia
Project, centered on the past-producing Georgia River Mine, is located on tidewater
16 kilometres south of the town of Stewart, BC, in the prolific Golden Triangle. The
Georgia River Mine, which last operated in 1939, contains 1.2 kilometres of
underground access on three levels. The project was explored from the 1970s by
several companies with the intent of restarting the mine, but this historic work
focused almost exclusively on the area hosting the existing mine workings, which
appears to be peripheral to the core of a much larger hydrothermal system. Only a
small part of this massive hydrothermal system was worked by the past producing mine
or drill tested.
Work by AUX over the past decade has generated
compelling evidence in support of a large intrusion-related gold target adjacent to
the area of previous work. The target zone is marked by anomalous surficial samples,
the cross-cutting regional Sovereign Fault, a coincident conductivity high, and an
Early Jurassic intrusive complex correlated with the Texas Creek Plutonic Suite – a
crucial component to nearly all large gold deposits in the Golden Triangle. The
regional-scale Hume Creek deformation zone around the Sovereign Fault provided the
“plumbing system” for hydrothermal fluids related to the intrusion. Surface samples
spanning more than a square kilometre carry gold values in excess of a gram per
tonne, demonstrating the extensive nature of the
system.
About AUX Resources
AUX
holds more than 27,000 hectares of strategic claims in the Stewart Mining Camp in
the Golden Triangle of British Columbia, which is among the world’s most prolific
mineralized districts, including the high-grade Georgia Project and the
past-producing Georgia River Mine. AUX is actively consolidating the Stewart Mining
Camp.
The technical disclosures in this release has been read and
approved by Dr. Paul Metcalfe, Ph.D., P.Geo., a director of AUX and Vice President
Exploration, a qualified person as defined in National Instrument
43-101.
For further information please see www.auxrc.com or contact:
Ian Slater, Chief
Executive
Officer
Mars Investor
Relations
+1 604 638
2545
+1 604 715 6845
contact@auramex.com
contact@auramex.com
