Aurelius Intersects High-Grade Gold at Aureus East – Highlighted by 49.4 g/t Gold over 0.65m, 40.3 g/t Gold over 0.65m and 11.1 g/t over 1.0m
January 25, 2022
Highlights from Aureus East surface drilling include:
- 0.65m at 40.3 grams per tonne gold, (“g/t”), from 160.0 metres (“m”);
- 1.0m at 11.1 g/t gold from 236.0m;
- 0.75m at 12.2 g/t gold from 248.75m; and,
- 0.9m at 11.0 g/t gold from 268.25m.
- 1.65m at 19.8 g/t gold from 207.50m,
- including 0.65m at 49.4 g/t gold from 208.5m
Toronto, ON - Aurelius Minerals Inc. (TSX.V: AUL) (OTCQB: AURQF) (the “Company” or “Aurelius”) is pleased to continue to report high-grade results from its flagship Aureus East Gold Project in Nova Scotia, Canada with the release of results from four drill holes. The Company is drilling at the Aureus East Project to define a new gold mineral resource and continues to expand mineralization upon the success of the Phase 1 and Phase 2 program results. The holes reported today were from four surface pads, focused on expanding mineralization along strike to the east and at depth, resulting in continued identification of previously overlooked gold horizons and an expanding limb system.
Aurelius’ President and CEO, Mark N.J. Ashcroft, P.Eng said: “Today’s drill results demonstrate the strong continuity along strike, allowing for an expansion of the gold zones, along strike to the east, in width to the south and at depth. Surface holes stepped to the east and south show that the mineralization remains open, intersecting gold at surface to more than 500m below surface. We are encouraged by the continuity, the widths and the grades of our intercepts as we conceptualize the minability of the mineralized system. In our continuing efforts to increase our understanding of the project geology we have consistently encountered high grade gold intersections within a broadly mineralized and substantial gold system. We have completed 49 holes, along with two wedge holes, with a 100% success rate of intersecting mineralization in two phases. We completed, over 12,000m in Phase 2 of our drill program. With Phase 2 drilling at Aureus East now complete, we anticipate further results from the lab over the coming weeks. This will help further delineate the deposit as we work towards our updated resource on Aureus East later this quarter.”
Figure 1: Core photo showing visible gold along the quartz/argillite contact in hole AE-21-041 at a depth of 208.65m – 0.65m sample graded 49.4 g/t gold.
Figure 2: Core photo showing visible gold along the quartz/argillite contact in hole AE-21-040 at a depth of 160.0m – 0.65m sample graded 40.3 g/t gold.
Figure 3: Longitudinal Section of the Aureus East Gold Project, showing drill pad locations on surface and underground.
Figure 4: A compilation of images providing a Plan View of the Aureus East Gold Project and surface drill pad locations.
Current and Upcoming On-site Activities
Having completed Phase 2 drilling at Aureus East, the near-term focus has shifted to a recently initiated underground channel sampling and mapping program. Aurelius believes there is considerable opportunity to identify continuous mineralization directly adjacent to the existing underground development infrastructure. Channel sampling in the underground drifts, where saddle reefs are exposed, will be the priority in this area. The sampling program will include the walls and floor in multiple gold zones which already contain known gold mineralization. The results will be incorporated into the geological interpretation of the gold zones as part of the upcoming mineral resource estimate for Aureus East. Nordmin Engineering has been retained to prepare the mineral resource estimate which is expected later in the first quarter of 2022.
Figure 5: Geo-technician conducting channel sampling of the visible limbs in the floor and walls of the drift at the 940 Level, underground at the Aureus East Gold Project.
Figure 6: Channel sampling of the visible limbs in the floor of the drift at the 940 Level, underground at the Aureus East Gold Project.
Aurelius is awaiting assays from six holes totaling 712.85 metres from both underground and surface holes. With the current backlog of assays at the lab, Aurelius anticipates receiving these results over the next several weeks.
Table 1. Gold intersections from Aureus East underground holes
Pad Drillhole From To Length Au g/t S4 AE-21-040 74.00 74.80 0.80 0.80 S4 AE-21-040 160.00 160.65 0.65 40.3 S4 AE-21-040 189.00 192.30 3.30 2.49 S4 including 190.45 191.30 0.85 6.08 S4 AE-21-040 200.75 201.55 0.80 2.79 S4 AE-21-040 208.60 210.80 2.20 1.64 S4 AE-21-040 236.00 237.00 1.00 11.1 S4 AE-21-040 248.75 249.50 0.75 12.2 S4 AE-21-040 268.25 270.00 1.75 6.18 S4 including 268.25 269.15 0.90 11.0 S4 AE-21-040 285.15 290.00 4.85 1.52 S4 including 288.35 289.35 1.00 4.43 S4 AE-21-040 344.15 345.65 1.50 2.55 S4 including 345.00 345.65 0.65 5.35 S4 AE-21-040 353.00 355.40 2.40 0.69 S4 AE-21-040 367.75 371.65 3.90 1.27 S4 AE-21-040 441.40 442.90 1.50 1.30 S4 AE-21-040 444.50 445.20 0.70 1.66 S4 AE-21-040 451.80 454.20 2.40 4.55 S4 AE-21-040 471.30 471.95 0.65 7.50 S4 AE-21-040 477.35 478.20 0.85 0.96 S4 AE-21-040 480.85 481.60 0.75 1.59 S4 AE-21-040 561.40 563.00 1.60 2.24 S4 AE-21-040 568.55 571.00 2.45 1.29 S5 AE-21-041 40.30 41.30 1.00 0.52 S5 AE-21-041 50.70 51.55 0.85 0.92 S5 AE-21-041 73.50 74.20 0.70 1.24 S5 AE-21-041 79.25 80.00 0.75 0.65 S5 AE-21-041 90.50 91.10 0.60 0.69 S5 AE-21-041 91.65 92.70 1.05 0.67 S5 AE-21-041 102.75 103.40 0.65 1.72 S5 AE-21-041 150.50 152.05 1.55 1.64 S5 AE-21-041 183.00 188.55 5.55 0.89 S5 AE-21-041 207.50 209.15 1.65 19.8 S5 including 208.50 209.15 0.65 49.4 S5 AE-21-041 220.45 221.30 0.85 4.89 S5 AE-21-041 224.55 226.00 1.45 0.49 S6 AE-21-042 33.00 34.60 1.60 4.77 S6 including 33.00 33.70 0.70 10.3 S6 AE-21-042 162.45 163.35 0.90 1.13 S6 AE-21-042 193.85 194.80 0.95 0.89 S6 AE-21-042 210.10 212.80 2.70 3.11 S6 including 210.10 211.10 1.00 7.52 S6 AE-21-042 221.75 222.50 0.75 3.43 S6 AE-21-042 257.60 258.40 0.80 0.62 S6 AE-21-042 264.60 265.45 0.85 0.92 S6 AE-21-042 293.00 293.70 0.70 0.51 S6 AE-21-042 294.45 295.30 0.85 0.59 S6 AE-21-042 346.00 347.00 1.00 0.54 S6 AE-21-042 356.70 357.65 0.95 0.85 S6 AE-21-042 370.00 371.00 1.00 7.03 S6 AE-21-042 425.00 426.00 1.00 0.72 S6 AE-21-042 461.85 462.60 0.75 3.97 S6 AE-21-042 481.00 482.00 1.00 1.13 S6 AE-21-042 526.45 527.35 0.90 0.57 S7 AE-21-043 45.40 46.00 0.60 0.78 S7 AE-21-043 47.50 48.35 0.85 1.20 S7 AE-21-043 135.30 135.80 0.50 2.82 S7 AE-21-043 140.40 141.20 0.80 8.88 S7 AE-21-043 307.00 308.80 1.80 3.12 S7 including 307.00 307.85 0.85 6.09 S7 AE-21-043 335.35 336.00 0.65 1.91 S7 AE-21-043 342.40 344.40 2.00 0.81
Table 2. Hole location, final depth and orientation for reported holes
Pad Hole ID Easting Northing Length Azimuth Dip AE S4 AE-21-040 548177 4979999 579 345 -90 AE S5 AE-21-041 548238 4980017 294 345 -88 AE S6 AE-21-042 548119 4979960 529 345 -88 AE S7 AE-21-043 548093 4979925 525 345 -86
Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia. Protocols were put in place and are updated where necessary to ensure the safety of our employees, contractors and the communities in which we operate.
Qualified Person and Analytical Procedures
Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company’s Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this release.
Individual drill core samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags and then shipped by courier for analyses to ALS Geochemistry, Moncton, New Brunswick. Sample preparation occurs at ALS in Moncton where samples are weighed, dried, crushing one kilogram to 70 percent less than two millimeters and then pulverized to create a one-kilogram sample with 85 percent less than seventy-five microns. Potential high-grade gold samples are sent for metallic screen fire assay and remaining material is assayed for 50-gram fire assay and samples grading more than 100 parts per million have a gravimetric finish performed. When visible gold is encountered the Company samples both halves of the core. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed. The Company inserted control samples (accredited gold standards, blanks and duplicates) at least every 20 samples and monitors the control samples inserted by ALS.
Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus Gold Properties, including Aureus East and West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company’s press release of November 18, 2019.
Aurelius is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend.
The Company has a 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 Nova Scotia, the Abitibi and other proven mining districts.
On Behalf of the Board
AURELIUS MINERALS INC.
For further information please contact:
Aurelius Minerals Inc.
Mark N.J. Ashcroft, P.Eng.,
President and CEO
Tel.: (416) 304-9095
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Aurelius. 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 anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" , "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" , "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Aurelius to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, anticipated costs and ability to achieve goals.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Aurelius believes its expectations are based upon reasonable assumptions and 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. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and that geological continuity is only implied. Additional drilling will be required to verify geological and mineralization continuity and it is reasonable that most of the Inferred Mineral resources could be upgraded to Indicated Mineral Resources.
The Company provides forward-looking information 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 known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company’s proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius’ public filings under Aurelius’ 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. Accordingly, readers should not place undue reliance on forward-looking statements. 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. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. 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.Subscribe for Updates
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