Aurelius Minerals Intersects 21.5 Metres Grading 4.2 g/t Gold at Mikwam Property
TSX VENTURE: AUL
VANCOUVER, British Columbia, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) is pleased to announce the initial assay results from the first four holes of the planned fifteen-hole (4,000 metre) Phase Two drilling program at its Mikwam Property.
Highlights from initial four holes include:
|•||AUL-18-13 intersected 4.2 g/t gold over 21.5 metres|
|•||AUL-18-14 intersected 1.64 g/t gold over 35.8 metres|
|•||All four holes intersected the Mikwam Gold Zone|
“We are very encouraged to continue to intersect increasingly higher grades with similar widths as compared to the existing estimated inferred mineral resource and the Phase One drilling program results. Our team has worked diligently to assemble historical data, since Newmont first began work in 1984, and this is the first section to be developed across this project,” stated Mark N.J. Ashcroft, P. Eng, Aurelius President and CEO. “The Phase Two program has been designed to extend the existing mineralization and to define the emerging higher-grade component of the Mikwam Gold Zone.”
The Phase Two program is following up on the success of the winter program which included 3.7 g/t gold over 22 meters in hole AUL-18-07 (see press release dated May 30, 2018). The Phase Two first four holes were drilled on a north-south cross section approximately 40 metres east of hole AUL-18-07. The results continue to define the orientation and continuity of the gold mineralization and indicate increasing potential to extend the Mikwam Gold Zone along strike and at depth.
All four holes intersected the Mikwam Gold Zone which is approximately 10-30 metres in width and gold occurs in quartz vein breccia with sulphides (see Figure 2 below).
Table 1. Summary of Gold Intersections from First Four Holes at Mikwam Phase Two Drilling
|Hole ID||From (m)||To (m)||Length (m)||Gold (g/t)|
Mikwam contains an estimated inferred mineral resource1 of 1.81 million tonnes grading 2.34 g/t gold, containing an estimated 136,000 ounces of gold as reported in the Technical Report dated December 8, 2016, compliant with NI 43-101 and filed on SEDAR.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability. Estimated using a cut-off grade of 1.00 g/t gold. Tonnes have been rounded to the nearest 10,000, grade has been rounded to two significant digits and estimated ounces have been rounded to the nearest 1,000.
Table 2. Drillhole Locations and Orientations for Phase 2 Mikwam Drilling being Reported
The Company is waiting on assay results for holes AUL-18-15 and AUL-18-16. Drilling of hole AUL-18-17 is in progress.
All samples were submitted to Bureau Veritas in Timmins, Ontario, for sample preparation by crushing one kilogram to 70 per cent less than two millimetres, creation of a 500-gram split and then pulverizing to 85 per cent passing 75 microns. Sample pulps are submitted for gold analysis with a 30-gram fire assay and atomic absorption spectroscopy finish (code FA430). Samples returning higher than 10 parts per million gold were re-assayed with a 30-gram fire assay and gravimetric finish. Control samples (accredited gold standards, blanks and duplicates) were inserted into the sample sequence by Bureau Veritas on a regular basis to monitor precision of results.
Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company’s Qualified Person as defined by National Instrument 43-101 for the Abitibi Greenstone Belt properties, has reviewed and approved the technical information in this release.
Aurelius is a well-positioned gold exploration company 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 944-hectare, 9 claim Mikwam Property in the Burntbush area on the Casa Berardi trend and the 11,593-hectare, 57 claim Lipton Property on the Lower Detour Trend. The Company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in the Abitibi and other proven mining districts.
AURELIUS MINERALS INC.
Mark N. J. Ashcroft, President & CEO
For further information please contact:
Aurelius Minerals Inc.
Mark N.J. Ashcroft, President & CEO
Tel.: (416) 304-9095
Neither 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.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Aurelius within the meaning of applicable securities laws, including statements with respect, to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Aurelius’ public filings under Aurelius Minerals Inc.’s SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.