Vancouver, British Columbia, February 23, 2021 –
AUX Resources Corporation (TSXV: AUX; OTC:
AUXRF) is pleased to report the completion of the historic drill
hole re-logging and sampling program on the Georgia Project. These results are from
previously unsampled diamond drill core by a past operator whose focus had been
restricted to high-grade quartz veins. The majority of this historic core was
logged, but sampling was restricted to a subset of quartz veins. Forty-six holes
were recovered for the program, covering a total of 5,016
metres.
Highlights
- Sampling of historic core extended previously reported intercepts,
including two holes that ended in mineralization:
- 24.3 g/t gold over 4.4 metres (GR95-06)
- 10.7 g/t gold over 7.2 metres (GR95-09)
- Sampling of historic core returned new high-grade results,
including:
- 20.5 g/t gold over 1.0 metres (GR95-18)
- Improved model for the SW Vein based on combined historic and 2020 data
- Identified a new parallel mineralized zone east of the SW
Vein
“We are extremely encouraged by the results of our re-logging and sampling program. We were able to recover over 5,000 metres of historic drill core, which was essentially a second drill program, more than doubling the meterage drilled during the 2020 field season,” comments Ian Slater, Chief Executive Officer. “We are not only excited about the high-grade gold results generated from this program, but also about the opportunity to fill in some of the gaps in our geological model and improve our understanding of the style of mineralization at Georgia.”
Click here to watch a video
summary of today’s news release provided by AUX’s Exploration Manager, Craig
Stewart.
Historic core from exploration programs between 1979 and
1996 was left on site at the Georgia Project and recovered by AUX during the 2020
field season. The majority of this core was unsampled, providing an opportunity to
better constrain the extent and geometry of the mineralized zone without drilling
additional metres. Of the historic core on site, 5,016 metres was recoverable and
was re-boxed and sent to our facility in Stewart at the end of the 2020 field
season, where it was then re-logged and sampled in November 2020.
Table 1.
Significant results from 2020 and historic
drilling at the SW Vein, Georgia Project (** indicates the hole ended in
mineralization; h and r indicate the interval is from historic and re-log,
respectively).
Re-logging was completed to refine the stratigraphy and
classify the host rocks to the mineralization according to the lithologies used for
the 2020 drill program to improve correlations between historic and new drill holes.
Sampling was completed for 3 purposes: 1) to sample prospective areas that had not
been previously sampled; 2) to sample the shoulders to veins that had been
previously sampled; and 3) to confirm results for select veins that had returned
anomalous gold grades in the past. Thirty additional samples were collected for
detailed petrographic work to better characterize the host rocks and alteration
styles associated with mineralization.
Results from the re-logging and
sampling program indicate that the mineralization extends up to several metres
outside of the veins and the extent of the mineralized zone is consistent along vein
strike. These results combined with the results of the 2020 drill program
significantly improve the understanding of the orientation and extent of the
mineralized zone. In some cases, historic assay results are combined with those from
the re-log to increase the length of mineralized zones. For example, quartz veins
sampled towards the bottom of hole GR95-06 returned gold grades of 34.5 and 50.8 g/t
gold, but the vein shoulders were not previously sampled. Shoulder sampling of this
zone during the re-log program produced a 4.4-metre-long zone grading 24.3 g/t gold,
which extends mineralization to the end of the hole – the area below this interval
remains open at depth.
SW Vein and Georgia
Zone
Mineralization at the Georgia Project was discovered in
1910 and was worked and mined until 1939. Work was centered on the SW Vein, which
produced a head grade of 22.6 g/t gold. Historic mine operations were focused
approximately 150 metres SSW of the high-grade zone intersected during 2020 drilling
(the “Georgia Zone”). One adit extends north from the main mine operations but ends
approximately 10 metres into the Georgia Zone. The zone that has been targeted
through drilling and exploration after mining operations ceased (including the 2020
drill program) has produced significantly higher grades than what was extracted at
the historic Georgia Mine.
Combined data from historic drilling and
sampling, re-logging and sampling of historic drill holes, and 2020 drilling and
sampling have now been integrated to provide new controls on the orientation and
extent of the Georgia Zone. The Georgia Zone is interpreted to be the northern
extension of the SW Vein; however, all exploration drilling that has intersected
this zone was completed after mining operations ceased and additional drilling is
required to assess the continuity of this zone to the south. In addition, 2020
drilling (GE20022) intersected anomalous grades that cannot be correlated with the
Georgia Zone, indicating that a separate high-grade target may exist to the east of
the Georgia Zone.
Figure
1. Plan view of the Georgia Zone showing 2020 and historic drill
results. Historic results are shown with a thin black border, 2020 results are shown
with a thick black border, and combined historic and re-log results are shown with a
thick dashed black border.
Figure 2a. Cross
section looking northeast showing GE20022 and GE20023 (+/- 10 m view
window).
Figure 2b. Cross
sections looking north showing GM-10, GM-11, GM-12 (left) and GR95-03, GM-07, GM-08,
and GM-09 (right; +/-10 m view window).
Quality Assurance and
Control
Samples were analyzed at MSALABS in Langley, Canada
(an ISO 9001 accredited facility). The sampling program was conducted by the
geological team under the supervision of Dr. Craig Stewart, Exploration Manager. A
secure chain of custody was maintained in transporting and storing samples. Gold was
assayed using fire assay with atomic absorption spectrometry and gravimetric finish
when required (i.e., >9 g/t gold). Analysis by four acid digestion with 48
element ICP-MS analysis was conducted on all samples with silver and base metal
overlimits being re-analyzed by emission spectrometry.
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 gold Georgia Project centred on the past-producing Georgia River
Mine. The Georgia River Mine, which last operated in 1939 with a head grade of 22.6
g/t gold, contains 1.2 kilometres of underground access on three levels. AUX is
actively consolidating the Stewart Mining Camp.
The technical disclosures
in this release have been read and approved by Dr. Thomas Mumford, Ph.D., P.Geo., 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
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. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although AUX believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.