Aurion-B2Gold JV Intersects 2.05 g/t Au over 77.50 m at Helmi

Canada NewsWire

ST. JOHN'S, NL, May 4, 2022

• New gold intercepts at the Helmi Discovery include:
• 2.05 g/t Au over 77.50 m, including 4.18 g/t Au over 24.55 m
• 1.42 g/t Au over 15.90 m, including 2.13 g/t Au over 6.35 m
• 29 holes have been drilled at Helmi and nearby targets in 2022, assays pending for 26 holes

ST. JOHN'S, NL, May 4, 2022 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") reports results for the first three (3) holes from the winter 2022 drilling program at the Helmi Discovery on the Aurion-B2Gold Corp. (TSX: BTO) ("B2Gold") Joint Venture (JV) in the Central Lapland Greenstone Belt in northern Finland.

• Further gold intercepts at the Helmi Discovery
• 2.05 g/t Au over 77.50 m from 41.70 m (IKK22018), including
• 4.18 g/t Au over 24.55 m from 81.90 m.
• 1.42 g/t Au over 15.90 m from 175.50 m (IKK22019), including
• 2.13 g/t Au over 6.35 m from 175.50 m.
• 29 holes (6,549.70 m) drilled at Helmi and nearby targets during the 2022 winter drilling program, assays for 26 holes pending. 
• Drilling program targeted the extensions of the Helmi Discovery along strike and at depth and selected new geophysical and geochemical targets.

"Higher grades and longer intervals returned from early drilling provide further evidence that Helmi may be a significant discovery," commented Matti Talikka, Aurion's CEO. "With winter conditions the JV was able to drill Helmi from preferred orientations. We look forward to the results from the remaining 26 out of 29 holes. The current winter program will be followed by summer and fall programs informed by data from this and earlier work."

Figures associated with this release can be found at the following link: https://aurionresources.com/site/assets/files/1435/nr22-06figures.pdf.

A total of 29 holes, 6,549.70 m, were drilled at Helmi and nearby target areas from February to April 2022. The program was designed to test the continuity of gold mineralization encountered in the maiden drill program, completed in the second half of 2021, as well as test additional targets to the north and northwest of the Helmi Discovery, identified by geophysics and base of till sampling.

Two of the first three holes returned broad and consistent zones of gold mineralization, starting close to surface. Highlight intercepts from the first three holes include 2.05 g/t Au over 77.50 m from 41.70 m down hole, including 4.18 g/t Au over 24.55 m in hole IKK22018, and 1.42 g/t Au over 15.90 m starting at 175.50 m down hole, including 2.13 g/t Au over 6.35 m in hole IKK22019.

The Helmi Discovery is located approximately 1.3 km west of Rupert Resources' 3.95-million-ounce Ikkari Discovery, along the Kutuvuoma-Ikkari structural corridor, which is an approximately 8 km long sequence of prospective geology along a domain boundary in the eastern part of the JV property extending from the Ikkari Discovery to the Kutuvuoma test pit.

The Helmi Discovery was made during the second half of 2021 and the maiden drilling program of 20 holes, totaling 5,201.5 m, returned a number of significant intercepts including 1.84 g/t Au over 52.40 m, 1.73 g/t Au over 44.95 m, 1.42 g/t Au over 30.70 m, 1.42 g/t Au over 30.60 m, 1.46 g/t Au over 28.70 m and 1.11 g/t Au over 45.80 m. The mineralized zones at Helmi are open along strike and at depth. The Helmi area covers approximately 1.5 km strike length of the 8 km long structural corridor of which the majority remains untested.

Drill hole IKK22017 was collared 425 m to the east along strike from IKK22018 to test the intersection of two interpreted structures and eastward continuation of favorable stratigraphy. The hole encountered elevated values (> 0.10 g/t Au) up to 0.58 g/t Au over 1.36 m from 25.94 m.

Drill hole IKK22018 was collared 70 m to the northwest from IKK21002 and was drilled from north to south. IKK22018 intersected mineralized zones of 1.21 g/t Au over 1.10 m from 26.00 m, 0.53 g/t Au over 2.30 mfrom 28.40 m, and 2.05 g/t Au over 77.50 m starting at 41.70 m, including 4.18 g/t Au over 24.55 m from 81.90 m. The mineralization is hosted by strongly deformed and altered, quartz-carbonate veined ultramafic rocks and mafic tuffs with fine grained disseminated and veinlet pyrite and local disseminated and veinlet magnetite.

Drill hole IKK22019 was collared 130 m to the northwest from IKK21002 and was drilled from north to south. IKK22019 intersected a mineralized zone of 1.42 g/t Au over 15.90 m from 175.50 m, including 2.13 g/t Au over 6.35 m from 175.50 m. The mineralization is hosted by strongly deformed and altered, quartz-carbonate veined ultramafic rocks with fine grained disseminated and veinlet pyrite and local disseminated and veinlet magnetite. 

Drill holes IKK22018 (2.05 g/t Au over 77.50 m) and IKK22019 (1.42 g/t Au over 15.90 m) are scissor holes to IKK21002 (1.42 g/t Au over 30.60 m) and IKK21006 (1.73 g/t Au over 44.95 m). Early information indicates a continuous mineralized zone from surface to at least 120 m vertical depth along this profile and the structural observations suggest the possibility of a westerly plunge of the mineralized envelope.

The Joint Venture (30% Aurion/70% B2Gold) covers approximately 331 km2 along the major crustal scale Sirkka Shear Zone in the Central Lapland Greenstone Belt and includes a number of discoveries such as Helmi (2.05 g/t Au over 77.50 m), Kutuvuoma (16.47 g/t Au over 11.0 m), Soretiavuoma (48 g/t Au over 1.1 m), Sinerma (0.54 g/t Au over 40.2 m), Kiekeromaa (5.8 g/t Au over 5.0 m) and Kettukuusikko (4.33 g/t Au over 20.4 m).

The preliminary budget for 2022 is approximately CAN$10 million and includes approximately 12,000 m of drilling. The JV will also continue to perform geophysical surveys and base of till sampling programs that have been successfully used to generate drill targets.

The Company has changed its Registered and Records Office to 130 Saddlehorn Drive, Kaleden, British Columbia.

All samples were delivered to ALS preparation facility in Sodankyla, Finland where sample preparation work was completed. Analytical work for these samples was completed at ALS facilities in Loughrea, Co. Galway, Ireland and Rosia Montana, Romania. ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2017). Samples were analyzed for gold using the Au-AA26 procedure (50 g fire assay with AAS finish: Lower Detection Limit ("LDL") 0.01 g/t gold; Upper Detection Limit ("UDL") - 100 g/t gold). B2Gold has an internal QA/QC program involving the insertion of certified standards and blanks into the sample stream. ALS has its own QA/QC protocol using standards, blanks and duplicates.

This news release has been reviewed by Andrew Hussey, P.Geo., GIS Geologist and Database Manager for Aurion Resources, a Qualified Person as defined by National Instrument 43-101. For more information on these projects please visit our website at www.aurionresources.com.

Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.

On behalf of the Board of Directors,
Matti Talikka, CEO

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. 

SOURCE Aurion Resources Ltd.

 

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Contact:

please contact: Mark Santarossa, Vice President, Corporate Development, Cell: +1 (416) 371-1325, Email: msantarossa@aurionresources.ca