AUX Resources Corp. Completes 3,600 m of Drilling on the Georgia Project in the Golden Triangle
VANCOUVER, Oct. 26, 2020 - AUX Resources Corp. (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 Corp.
Contact
please see www.auxrc.com or contact: Ian Slater, Chief Executive Officer, +1 604 638 2545, info@auxrc.com; Mars Investor Relations, +1 604 715 6845, aux@marsinvestorrelations.com