Auryn drills 9.15 m of 3.48 g/t Au at Committee

Mr. Shawn Wallace reports

 

AURYN DRILLS 9.15 METERS OF 3.48 G/T GOLD AT COMMITTEE BAY AND PROVIDES EXPLORATION UPDATE

 

Auryn Resources Inc. has released initial results from its summer exploration drill program at the Committee Bay gold project located in Nunavut, Canada. The results represent 15 per cent or 21 holes out of 148 holes currently drilled across 18 targets in the belt this summer. Highlights include 9.15 metres of 3.48 grams per tonne gold and 1.53 metres of 7.48 g/t Au which ended in mineralization where the hole was lost at West Plains. West Plains remains open at depth.

 

Committee Bay program highlights:

 

Drilling five additional targets (total drilled targets increased from 13 to 18);

Increased drill metres from 25,000 to 29,000;

Extended high-grade mineralization to a vertical depth of 150 metres;

Purchased $1.8-million of fuel for a 2018 drill program.

President and chief executive officer Shawn Wallace stated: "We are pleased with the results we have seen to date and the level of efficiency of the work completed this season. The Committee Bay summer program is a considerable undertaking both technically and logistically. We are looking very forward to receiving the results of the remaining 25,000 metres as we have tested the most robust targets on the belt that we have found to date."

 

Mr. Wallace further stated: "This is an exciting time for Auryn shareholders as we enter a busy season of results from the Committee Bay and Homestake drill programs. Surface exploration is also currently under way in Peru ahead of drilling later this year."

 

Rotary air blast (RAB) drilling results

 

The RAB drill program undertaken this year was designed to test new target structures underneath till cover and to drill the source rock of gold-in-till anomalies and mineralized boulder trains. To date 15 per cent of the results have been received, with the complete results from the West Plains, Ziggy South and Avinngaq targets reported in the associated table. The summer exploration RAB drill program has approximately 25,000 metres in 127 holes remaining to be released in the coming months.

 

Michael Henrichsen, chief geologist and chief operating officer of Auryn, commented: "Drilling at the West Plains target demonstrates that high-grade mineralization continues down plunge to a vertical depth of 150 metres. The West Plains target is considered an important target to explore to depth as the alteration associated with gold mineralization is very strong with widths of 40 to 80 metres of sulphidized banded iron formation being encountered."

 

 

Mr. Henrichsen further stated, "We are very encouraged by several targets in the belt with pending assays where we successfully intersected highly sulphidized banded iron formation similar in nature to that of the Three Bluffs deposit."

Results from both the Ziggy South and Avinngaq prospects encountered anomalous gold over narrow widths but are not deemed to be significant.

 

 
           SIGNIFICANT INTERCEPTS -- RAB 2017    
          
Hole              From        To  Interval        Au
ID                 (m)       (m)       (m)     (g/t)

17WPR051         94.49    100.58      6.09      0.83
                160.02    161.54      1.52      0.30
                166.12    170.69      4.57      1.37
17WPR052         12.19     15.24      3.05      0.93
                103.63    109.73      6.10      0.36
                115.82    135.64     19.82      1.60
including       126.49    135.64      9.15      2.89
17WPR053         96.01     99.06      3.05      1.30
                105.16    120.40     15.24      0.43
                137.16   143.26*      6.10      2.54
including       141.73   143.26*      1.53      7.48
17WPR054         76.20     83.82      7.62      0.21
17WPR055         70.10     77.72      7.62      0.23
                 96.01     97.54      1.53      0.53
                121.92    129.54      7.62      0.37
                134.11    135.64      1.53      0.82
                143.26    144.78      1.52      0.79
                161.54    170.69      9.15      3.48
including       161.54    167.64      6.10      4.93
17WPR056        132.59    135.64      3.05      0.45
                149.35    150.88      1.53      0.39
                153.92    156.97      3.05      1.20
                178.31    179.83      1.52      0.49
17TXR005        105.16    106.68      1.52      0.52
17ZSR002        156.97     158.5      1.53      0.27
17ZSR003         73.15     74.68      1.53      1.72
                 77.72      82.3      4.58      0.45
                123.44    124.97      1.53      0.35
17ZSR004          44.2     45.72      1.52      0.38
17ZSR005        100.58    102.11      1.53      1.67
17ZSR006        178.31    179.83      1.52      0.26
17ZSR008         35.05     36.58      1.53      0.25

* Hole terminated in mineralization.                                                                              
** True widths of mineralization are unknown based 
on current geometric understanding of the 
mineralized intervals.

 

Additional targets

The five additional targets being drilled were identified by a combination of gold-in-till anomalies and outcropping mineralization. Of particular note are the Kinng Mountain and Kinng gold targets in the northeast third of the belt where Auryn is currently drilling under high-grade surface mineralization in sulphidized banded iron formation. This surface mineralization is defined by historic grab samples, highlights of which are outlined in the associated table.

 

      GRAB SAMPLES FROM KINNG GOLD AND 
           KINNG MOUNTAIN TARGETS

Target            Disposition            Au
                                      (g/t)

Kinng gold            outcrop         15.12
                      boulder          7.89
                      outcrop          4.05
Kinng Mountain        outcrop         40.04
                      outcrop          35.9
                      outcrop         11.35
                      boulder          9.47
                      outcrop          7.27
                   felsenmeer          6.79
                      outcrop          1.41
                   felsenmeer          1.04
                      boulder          2.54
                      outcrop          2.02
                      outcrop          1.68
                   felsenmeer          1.44
                   felsenmeer          1.02

 

Michael Henrichsen, PGeo, chief operating officer of Auryn, is the qualified person who assumes responsibility for the technical disclosures in this press release.

About Auryn

Auryn Resources is a technically driven junior mining exploration company focused on delivering shareholder value through project acquisition and development. The company's management team is highly experienced with an impressive record of success and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through Corisur Peru SAC.

Committee Bay RAB drilling quality assurance/quality control disclosure

Intercepts were calculated using a minimum of a 0.25 gram per tonne gold cut-off at beginning and end of the intercept and allowing for no more than four consecutive samples (six metres) of less than 0.25 g/t Au.

Analytical samples were taken using one-eighth of each five-foot (1.52 m) interval material (chips) and sent to ALS Lab in Yellowknife and Vancouver, B.C., for preparation and then to ALS Lab in Vancouver, B.C., for analysis. All samples are assayed using 30-gram nominal weight fire assay with atomic absorption finish (Au-AA25) and multielement four-acid digest ICP-AES/ICP-MS (inductively coupled plasma atomic emission spectroscopy/inductively coupled plasma mass spectrometry) method (ME-MS61). QA/QC programs using internal standard samples, field and lab duplicates, and blanks indicate good accuracy and precision in a large majority of standards assayed.