Aurelius Minerals Inc.
Aurelius Minerals Intersects Near Surface Gold Mineralization at Aureus West – 32.2 Metres grading 2.85 g/t Gold and 20.3 Metres of 3.93 g/t Gold
Toronto, ON - Aurelius Minerals Inc. (TSX.V:AUL) (OTCQB:AURQF) (the "Company" or "Aurelius") is pleased to announce assay results from three additional holes at its Aureus West Gold Project located in Nova Scotia, Canada. The Aureus West project contains an inferred mineral resource of 269,000 tonnes ("t") grading 6.1 grams per tonne ("g/t") for a total of 53,200 oz of gold (see Table 1). Holes AW-20-004, AW-20-005 and AW-20-006 are from pad 2, which is approximately 45 metres ("m") east of pad 1 (See January 28, 2021 press release) along the gold trend. All holes intersected significant gold mineralization near surface and new gold horizons were identified to a depth of 504m below surface. The drilling identified mineralization both above, and well below, the existing inferred mineral resource which extends to a depth of approximately 150m. The Aureus West Gold Project is located approximately one kilometre ("km") south of the Aureus East Gold Project. Ten holes were completed, totaling approximately 4,600m, in the 2020 drilling program. Assays for holes AW-20-004 and AW-20-005, and partial assays for hole AW-20-006, are reported here.
Highlights:
- Intersected broad intervals of near surface gold mineralization with strong mineral tenors;
- AW-20-005: 32.2 m grading 2.85 g/t gold; and
- AW-20-006: 20.3m grading 3.93 g/t gold;
- Established mineralization outside of the current inferred mineral resource along strike and at depth;
- gold mineralization intersected above and below the current inferred mineral resource;
- the gold system is open in both directions along approximately 6km of strike, from the Harrigan-Cove fault in the east, to historical trenching evidencing visible gold, located 5.4km to the west from the 2020 drill program; and
- the system has been proven to a depth of over 500m, where it remains open.
Mark N.J. Ashcroft, P.Eng, President and Chief Executive Officer of Aurelius said, "We are very pleased with these new results from our Phase 1 drilling program at the Aureus West Gold Project. We continue to see extensive mineralization outside of the existing inferred mineral resource. A robust gold system, both long and deep, is emerging and we see substantial opportunity to grow and update the inferred mineral resource going forward. The mineralized horizons demonstrate a combination of both high-grade mineralization and sediment hosted mineralization providing a clear path to resource growth along a near 6 km gold trend."
Figure 1: Plan view of Aureus West and Aureus East properties
Figure 2: Aureus West Long Section, looking north. 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 estimated will be converted into Mineral Reserves. Inferred Mineral Resources are based on limited drilling which suggests the greatest uncertainty for a resource estimate and geological continuity is only implied.
Figure 3: Cross Section of Pad 2, looking west
Figure 4: A representative sample of core showing visible gold in Hole AW-20-006 from 15.3m which intersected 0.9m @ 55.3 g/t gold
The Aureus West gold exploration program is focused on growing the inferred mineral resource reported in the "Technical Report on the Aureus West Gold Property" dated November 4, 2020, prepared by Greg Mosher, P.Geo., M.Sc. Applied, of Global Mineral Resource Services and filed under the Company's profile at www.sedar.com. The Aureus West technical report is also available on the Company's website at www.aureliusminerals.com.
The Company retained Global Mineral Resource Services in 2020 to prepare and address the technical report to Aurelius, based on historical work and the technical report previously filed by a prior owner of the Property. Other than updates to reflect Aurelius' acquisition of the Property and non-material clerical changes, the content of the technical report is consistent with the technical report filed by a prior owner on SEDAR.
The inferred mineral resource occurs in stacked quartz veins which follow the geometry of the folded host rocks. The gold mineralization tends to exhibit thicker intersections along the fold axis of the anticlines. The system extends approximately 6 km in an east-west direction and is replicated in a series of horizons to depth. To date the Company has confirmed that these horizons continue to a depth of at least 500m where the system remains open. Historical drilling indicates that the Aureus West gold mineralization continues for over 1.9 km toward the west, and historical surface trenches evidence visible gold approximately 5.8 km along strike to the south-west of the 2020 drilling program. The eastern margin of the gold mineralization is constrained by the Harrigan-Cove fault, a significant regional structure. From the Aureus West gold trend, the Harrigan-Cove fault extends to the northwest and separates the Aureus West and East gold systems, which are offset by an approximate 1 km displacement.
About Aurelius
Aurelius is a well-positioned gold exploration company focused on advancing its Aureus Gold Properties, including Aureus East and West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia.
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 experienced in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in proven mining districts.
Source: https://aureliusminerals.com/news/aurelius-minerals-intersects-near-surface-gold-mineralization-at-aureus-west-32.2-metres-grading-2.85-g-t-gold-and-20.3-metres/
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