AUX Resources Corp. Mobilizes Field Crew and Commences 2020 Exploration Program at the Georgia Project in the Golden Triangle
VANCOUVER, July 14, 2020 - AUX Resources Corp. (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.
Contact
please see www.auxrc.com or contact: Ian Slater, Chief Executive Officer, +1 604 638 2545, info@auxrc.com; Michelle Borromeo, Investor Relations, borromeo@auxrc.com