Vancouver, British Columbia, August 10, 2020 – AUX Resources Corporation (TSXV: AUX) is pleased to announce that it has commenced a two-drill, 3,500 metre diamond drill program on its flagship high-grade gold Georgia Project, including the past-producing Georgie River Mine, located on tidewater 16 kilometres south of the town of Stewart, British Columbia, in the prolific Golden Triangle.
“We are all excited to have the drills turning on the Georgia Project”, comments Ian Slater, Chief Executive Officer. “Historic drilling of the deposit indicates exceptional gold grades in a system that was never drilled off. Our new model suggests that the historic intercepts were at the periphery of a much larger mineralized system, and we are eager to test the team’s ideas.”
Over the past decade AUX has been consolidating the land package surrounding the Georgie River Mine, compiling and re-interpreting the historic data, as well as advancing the geologic understanding through improved mapping, sampling, and geophysics. This work ultimately generated a new genetic model for the mineralization in the area. This model, supported by a robust data set, suggests the presence of a large intrusion-related mineralizing system – of which the Georgie River Mine is situated at the margin. This drill program will be the first test of this new and innovative model for mineralization in the area. Drilling will focus on:
- Extending known ore shoots from the past-producing Georgie River Mine;
- Testing newly developed, highly prospective targets outside of the known deposit; and
- Assessing and substantiating the non-compliant historic high-grade resource at the Georgie River Mine.
About the Georgia Project
The 7,900 hectare high-grade gold Georgia Project, including the past-producing Georgie River Mine, is located on tidewater 16 kilometres south of the town of Stewart, British Columbia, in the prolific Golden Triangle. The Georgie River Mine, which last operated in 1939, contains 1.2 kilometres of underground access on three levels. The project has been explored since the 1970s by several companies with the intent of restarting the mine, but this historic work focused almost exclusively on the area hosting the existing mine workings, which appears to be peripheral to the core of a much larger hydrothermal system. Only a small part of this massive hydrothermal system was worked by the past producing mine.
Work by AUX over the past few field seasons has generated compelling evidence in support of a large intrusion-related gold target adjacent to the area of previous work. The Hume Creek target zone is marked by anomalous surficial samples, the cross-cutting regional Sovereign Fault, a coincident conductivity high, and an Early Jurassic intrusion belonging to the Texas Creek Plutonic Suite – a crucial component to large gold deposits in the Golden Triangle. Surface samples spanning more than a square kilometre in the vicinity of the Sovereign Fault carry gold values in excess of a gram per tonne, demonstrating the extensive nature of the system.
About AUX Resources
AUX holds more than 25,500 hectares of strategic claims in the Stewart Mining Camp in the Golden Triangle of British Columbia, which is among the world’s most prolific mineralized districts, including the high-grade Georgia Project and the past-producing Georgie River Mine. AUX is also actively consolidating property in the Stewart Mining Camp.
The technical disclosures in this release has been read and approved by Dr. Paul Metcalfe, Ph.D., P.Geo., a director of AUX and Vice President Exploration, a qualified person as defined in National Instrument 43-101.
For further information please see www.auxrc.com or contact:
Ian Slater, Chief Executive Officer
+1 604 638 2545
Mars Investor Relations
+1 604 715 6845
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. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.