Company News - Thu 14 Jun, 2018

The Korelin Economics Report

High-resolution Till-sampling Results in Refined Drill Targets for 2018 at Committee Bay

I have received a number of questions for Ivan but unfortunately with my recent travel schedule and Ivan’s we have been unable to lock down a time. The good news is that we have a call planned for next week where we will address the questions that have come in as well as the recent news. This includes the news release from today which is below.

If you have any additional questions for Ivan please email me directly at Fleck@kereport.com.

Click here to visit the Auryn website for more Company information.

…Here’s the news…

Vancouver, British Columbia – June 14, 2018 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG) (“Auryn” or the “Company”) is pleased to announce that high-resolution till sampling has become an integral layer of data for six targets at Committee Bay, Nunavut. These targets include the already disclosed Aiviq sampling, which was drilled in 2017.

The gold assay results from the high-resolution (100 meter by 100 meter spacing) till surveys across nine regional targets (Figure 1) demonstrate greater precision for identifying the potential source areas of high-grade gold mineralization seen throughout the belt. The results of the surveys have delineated gold-in-till anomalies that are consistent with the size of potential deposit footprints and will form the basis of future drill campaigns at Committee Bay.

A Message from Auryn’s Executive Chair:

Executive Chairman and Director Ivan Bebek stated, “These results significantly improve our level of understanding of the 300km long Committee Bay gold project and better positions us for potential discovery. The tighter-spaced till sampling has demonstrated just how close we were to the potential sources of gold during the 2017 drill campaign.”

Mr. Bebek further stated, “We are looking forward to confirming our theory in our 2018 drill program, which we are currently planning.”

The Use of High-Resolution Tills to Redefine Targets:

Originally, the high-resolution tills were collected during the 2017 summer exploration program to be analyzed using portable X-Ray fluorescence technology. After receiving the results from the Aiviq discovery drill hole (12.2 meters at 4.7g/t Au), Auryn sent the high-resolution tills to ALS laboratories for ICP to analyze for gold. The gold results demonstrated that the high-grade discovery drill hole spatially overlapped with the gold results from the high-resolution tills. In addition, these results also redefined targets that had not been adequately drilled in 2017 (Figure 2).

Five of the nine regional targets have returned discrete new gold targets from the high-resolution tills. These incl ude the Koffy, Kalulik, Aarluk, Kanosak, and Castle Rock target areas (Figures 3 – 7).

A Message from Auryn’s Chief Geologist:

Michael Henrichsen, COO and Chief Geologist stated, “Auryn’s technical team considers the high-resolution till data as a critical step in our exploration process to delineate source areas of gold mineralization under till cover. Ultimately, we feel the drill results from the 2017 summer campaign did not explain the strength of a number of the till anomalies associated with high-grade gold in boulders. We feel the new high-resolution gold-in-till results will lead …read more

Source:: The Korelin Economics Report