VANCOUVER, BC, July 14, 2020 /CNW/ - AUX Resources
Corporation (TSXV: AUX) (formerly Auramex Resource Corp.)
is pleased to announce that it has mobilized its geological field
crew to its flagship high-grade gold Georgia Project, including the
past-producing Georgia River Mine, located on tidewater 16
kilometres south of the town of Stewart, British Colombia, in the prolific
Golden Triangle.
The 2020 field program will be centred around drill testing the
Georgia Project. Fieldwork over the past few years has indicated
the presence of a large mineralizing system, of which the
past-producing Georgia River Mine is situated just at the
periphery. To test the system, more than 3,500 metres of diamond
drilling are planned, focusing on mineralization around the
past-producing mine as well as targets within the adjacent Hume
Creek Deformation Zone.
"Fully funded, we are eager to drill test Dr. Metcalfe's
compelling geological model for the mineralization around the
Georgia River Mine", comments Ian
Slater, Chief Executive Officer. "This is excellent timing
to advance and expand an under-explored high-grade gold system in
the Golden Triangle."
In addition to drilling, the 2020 summer exploration program
will include detailed geological mapping, geochemical sampling, and
geophysics of key exploration targets on the Georgia Project, as
well as other AUX claim blocks.
11,750 metres of drill core from previous operators of the
Georgia River Mine was only sampled for narrow high-grade
intercepts, with the majority of the core not being sampled.
This core is currently being relogged and sampled in its entirety.
Shoulder sampling between high-grade intervals has the potential to
define broad intervals of economic mineralization that were
previously undocumented. This additional data provides a
cost-effective method to leverage the additional 3,500 metres of
drilling in 2020, rapidly advancing the project relative to the
exploration expenditure.
About the Georgia Project
The 7,900 hectare high-grade gold Georgia Project, including the
past-producing Georgia River Mine, is located on tidewater 16
kilometres south of the town of Stewart, British Colombia, 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.
Work by AUX over the past few field seasons 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 intrusion 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 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 25,500 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 Auramex Resource Corp.