Auramex Resource Corp. (the Company) is pleased to announce the acquisition of the Exdale tenure in a non-related party transaction. The 654 hectare mineral tenure is located on the northern edge of the Company’s flagship Georgie River property. The 100% acquisition of the tenure is in consideration of 50,000 shares of Auramex and a retained 2% net smelter return (NSR) royalty in favour of the vendor, Michael Marchand.
The Exdale tenure, 12 km south of Stewart, encloses over 2 ½ km of a highly prospective contact between a large intrusion of the Early Jurassic Texas Creek Plutonic Suite and deformed Late Triassic country rocks. Several important gold deposits in the region are closely related to the Texas Creek Plutonic Suite and the Exdale tenure encloses three known mineral occurrences. The geological environment is very similar to that of the Hume Creek Mylonite Zone 5 km southwest of Exdale, where intensely deformed Texas Creek intrusions outcrop in an area that hosts a 1 km² conductivity anomaly. The historic Georgia River Gold Mine, currently under option to a third party, is peripheral to that major geophysical anomaly, which will be an important part of the Auramex exploration program.
The Company intends to explore the Georgie River property aggressively. To this end a geophysical survey has already been commissioned and data acquired, including that for the Exdale area. Reporting of the survey is expected in the near future as are plans for the upcoming field season.
Lawrence Roulston, the company’s President and CEO, stated that: “This is an important acquisition for the company, as it completes the consolidation of the Georgie River property and allows us to finalize exploration plans for that project. Our geological team, since re-joining Auramex in April, has been conducting a comprehensive review of the 200 square kilometre property holdings of Auramex in the Golden Triangle. Building on years of previous work on multiple targets, the 2018 exploration program is now underway, aimed at advancing our priority targets, including Georgie River.”
Auramex holds 196 square kilometres of mineral rights in BC’s Golden Triangle. The Georgia River property surrounds a past producing gold mine near tidewater, 18 km south of Stewart; the Tide North property is 4 km from an all-weather road and the Bear Valley properties straddle highway 37A north and east of Stewart.
For information on Auramex please contact Lawrence Roulston at (604) 924-9376 or (604) 398-8829 or refer to the company’s website: www.auramex.com.
The technical disclosure in this release has been read and approved by Paul Metcalfe, PhD, P.Geo. a qualified person as defined in NI 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.