Exploration Underway at Historic Gold Mine
VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) — Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports that exploration is progressing at the past-producing Georgia River gold mine, with the geological team reviewing and analyzing drill core from previous operators. This high-grade gold mine, which last operated in 1939, was explored from the 1970s by several companies with the intent of restarting the mine.
Work by Auramex has generated compelling evidence in support of a large gold target underlying the area of previous work. The present work is aimed at refining drill targets for a first test of that projected gold zone.The current program includes measurements of rock composition by X-ray fluorescence spectrometry and measurements of spectral reflectance in the visible and short-wave infrared wavelengths. Both sets of measurements are being conducted on samples of historic diamond drill core from the mine area, with the samples selected during 2019 relogging of the core. Results will be combined with planned petrographic and whole-rock lithochemical analyses and with results from structural mapping of the Mine and Hume Creek areas to assemble a clear picture of the ancient hydrothermal system. It is now recognized that only a small part of that massive system was worked by the past producing mine. The Georgia River project is closely associated with an Early Jurassic intrusion, a hallmark of large gold deposits in the Golden Triangle. A regional-scale deformation zone provided the “plumbing system” for hydrothermal fluids related to the intrusion. Surface samples spanning more than a square kilometre on surface carry gold values in excess of a gram per tonne, demonstrating the extensive nature of the system. Historic values in the old workings and in the drill core show the potential of that system to host high gold values.Auramex President and CEO Lawrence Roulston noted: “An enormous amount of work was done by previous operators at the Georgia River gold mine but focused around the old mine. Auramex augmented the prior results with airborne geophysics and other information. There is clear evidence of an extensive geological system with potential for a large gold deposit underlying the previously mined area.”Results of the work by Auramex geologists suggests that the area of the mine workings is peripheral to the core of the hydrothermal system. The work now underway is aimed at developing vectors toward the most prospective areas within that system as a basis for designing a drill program.The technical disclosure in this release has been read and approved by Dr. Paul Metcalfe, PhD, P.Geo., a qualified person as defined in National Instrument 43-101.About Auramex Resource Corp.
Auramex is focused on exploring a large and highly prospective property portfolio in the Stewart camp, at the southern end of the Golden Triangle in British Columbia. The Company’s extensive knowledge in the Golden Triangle aims to maximize shareholder value by deploying a systematic and comprehensive exploration approach, that fuses “traditional” and emerging, cutting-edge exploration techniques.On behalf of the Board of Directors:Lawrence Roulston
President & CEOFor further information, contact:
www.auramex.com.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.