VANCOUVER, BC, Oct. 26, 2020 /CNW/ - 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.
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 the
Company 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.
SOURCE AUX Resources Corporation