Vancouver, BC - Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) is pleased to announce that its Board of Directors have approved the Phase One 2017 exploration program on the Lipton Property, located approximately 20 kilometres (“km”) south of Detour Gold Corporation’s Detour Gold mine and approximately 4.5 km south of the 58-N discovery. The program will commence this month and include an induced polarization (IP) geophysical survey and approximately 2,000 meters (“m”) of diamond drilling. The drill program is designed to test and expand the area of the Mafic and Contact Gold Zones at Lipton and to test the larger and untested northern magnetic anomaly at the interpreted fold nose.
“We are very excited to get the drills turning and to launch our Phase One exploration program at Lipton” stated Aurelius President & CEO, Mark N.J. Ashcroft, P.Eng. “This is an under explored part of the Abitibi, recent exploration work in the area has shown that the Lower Detour area has great potential for high grade gold mineralization.”
The Lipton property consists of 11,593 hectares and is located 150 km north-east of Cochrane, Ontario in the Abitibi Greenstone Belt, a prolific area of gold production that has produced in excess of 170 million ounces of gold since 1901. Aurelius is the second largest landholder on the Ontario side of the border in this camp, after Detour Gold. The Lipton property has been subject to various exploration campaigns since the late 1950s, but no group until Aurelius has systematically compiled all of the datasets into one complete set. Historical results at the Lipton property include 10.7grams per tonne (“gpt”) over 9 m (Better Resources, 1996) and 13.72 gpt over 7.7 m (Dentonia Resources Ltd., 2006).
In addition, the Company announces the granting of incentive stock options to certain directors, officers and consultants to purchase up to 2,900,000 common shares under the Company’s Incentive Stock Option Plan. The options will be granted for a period of five years commencing on July 5, 2017, exercisable at a price of $0.12 per share.
Mr. Jeremy Niemi, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the Abitibi Greenstone belt properties, has reviewed and approved the technical information in this release.
Aurelius is a premier gold exploration company, holding the Mikwam and Lipton Properties within the prolific northern Abitibi Gold belt in Ontario, Canada. The Company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in the Abitibi and other proven mining districts.
AURELIUS MINERALS INC.
Mark N. J. Ashcroft, President & CEO
For further information please contact:
|Aurelius Minerals Inc.|
Mark N.J. Ashcroft, President & CEO
Tel.: (604) 687-3959
|Renmark Financial Communications Inc.|
Robert Thaemlitz, Account Manager
Tel.: (416) 644-2020 or (514) 939-3989
Neither 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.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Aurelius within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Aurelius’ public filings under Aurelius Minerals Inc.’s SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.