Vancouver, British Columbia, April 7, 2021 – AUX
Resources Corporation (TSXV: AUX; OTC:
AUXRF) is pleased to announce that it has received and reviewed
results from the initial 1,000 metre diamond drill program at the Hume Creek
Deformation Zone, immediately to the west of the Georgia River
Mine.
Highlights
- 1,000 metres in 5 diamond drill holes completed at the Hume Creek Zone
- 7 grams per tonne gold over 1.3 metres intercepted at a downhole depth of 138.7 metres (98 metres below surface and 150 metres higher in elevation than the Georgia River Mine)
- Four of the holes intersected values in excess of 0.5 grams per tonne gold and all holes intersected multiple intervals with anomalous to strongly anomalous gold and arsenic
- The one deeper hole intersected values as high as 0.79 grams per tonne gold, coincident with strongly anomalous copper, lead, antimony and bismuth, pathfinder elements typically occurring just beneath the top of a system
- Results indicate the prospective zone begins 200 metres below the surface of the ridge and 50 metres above the elevation of the past-producing underground workings at the Georgia River Mine
- The regional structure hosting these intersections is more than an order of magnitude larger than the structures that host the adjacent Georgia River Mine
“We are encouraged by the 2020 results from our first-pass drilling of the Hume Creek
Deformation Zone. It took 10 years from its 2010 discovery, only five holes
and only 1,000 metres of drilling to establish the Hume Creek Zone as a major
prospective regional structure for gold exploration,” comments Dr. Paul Metcalfe,
Director of AUX. “The intersections, 70 to 200 metres beneath the ridge top,
are at higher elevations than the high-grade gold-producing zones in the Georgia
River Mine, yet all are anomalous to strongly anomalous in gold. Moreover, last
summer’s drilling returned vital geochemical information which will enable targeting
of economic mineralization in this immense, highly prospective system, of which the
Georgia River Mine is a part.”
The 9,300-hectare high-grade gold Georgia
Project, centred on the past-producing Georgia River Mine, is located on tidewater
16 km south of the town of Stewart, BC, in the prolific Golden Triangle. The Georgia
River Mine, which last operated in 1939 with a head grade of 23 g/t gold, 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.
The 750 metre wide Hume Creek Deformation Zone was discovered in 2010, exactly 100 years after the first gold discovery and its significance as a regional-scale structure and potential conduit for gold–bearing fluids was realized at that time. Subsequent reconstruction of historic data and acquisition and processing of new geochemical and geophysical data enabled development and testing of a model of mineralization. Work by AUX over the past few field seasons has tested this model and 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 Early Jurassic intrusions belonging to the Texas Creek Plutonic Suite – a crucial component to large gold deposits in the Golden Triangle. The regional-scale Hume Creek Deformation Zone provided the “plumbing system” for hydrothermal fluids related to these intrusions. 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.
In 2020, five diamond drill holes were collared on the 750 metre wide Hume Creek Deformation Zone, at an elevation of 1,280 metres above sea level, 200 metres above and 600 metres west of the past-producing Georgia River Mine. All targeted the Sovereign Fault and its prospective footwall at the core of the zone.
Four of the holes intersected gold values in excess of 0.5 g/t gold and one intersection, at a downhole depth of 138.7 metres (98 metres below surface and 150 metres higher in elevation than the Georgia River Mine) returned 7 g/t gold over 1.3 metres. All five holes intersected multiple zones of anomalous gold values (greater than 0.12 g/t gold) to depths in excess of 200 metres. Each anomalous gold intersection was coincident with a zone of elevated chemical alteration and moderately to highly anomalous As.
The single hole that targeted the zone at depth, GE 20002, intersected at least three intervals anomalous in Au and As. Beneath a downhole depth of 250 metres, anomalous gold values were also coincident with anomalous Cu, Sb, Pb and Bi. All these elements are geochemical pathfinders for gold in intrusion-related systems. Typically, As occurs at the highest levels of such a system, while the other pathfinder elements are concentrated closer to economically significant values of gold. The top of this multi-element pathfinder zone is at a depth of 200 metres, which is 50 metres above the elevation of the past producing area of the adjacent mine.
Drilling north of the mine along the SW Vein recently returned results including (news releases February 9, 2021 and February 23, 2021):
- 24.3 g/t gold over 4.4 metres
- 10.7 g/t gold over 7.2 metres
- 103 g/t gold over 2.7 metres
- 126 g/t gold over 1.1 metres
Figure 1. AUX Claims
Figure 2. 2020 Drill Plan - Georgia Project
Table 1. 2020 Hume Creek Drill Results
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 Georgia Project and the past-producing Georgia River Mine. AUX is actively consolidating the Stewart Mining Camp.
The technical disclosures in this release have been read and approved by Dr. Paul Metcalfe, Ph.D., P.Geo., a director of AUX and a qualified person as defined in National Instrument 43-101.
For further information please visit 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.
