Company
CVE:AU
Aurion Resources Ltd. is a Canadian exploration company listed on the TSX Venture Exchange. Aurion’s strategy is to generate or acquire early stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion’s current focus is exploring on its Flagship Risti and Launi projects, as well as advancing joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. in Finland.
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“The 2022 program will focus on growing our high-grade discovery at Aamurusko and will include regional targets, under cover, detected by base of till sampling and geophysical surveys,” said Aurion CEO Matti Talikka
"The acquisition and cancellation of the royalties on the Kaaresselka (Risti, 100% Aurion) and Kiekeromaa (B2Gold JV) gold occurrences is well aligned with Aurion's approach of maximizing the value of our properties," commented Aurion's CEO
The venture, in which Aurion has a 30% stake, with operator B2Gold owning 70%, covers around 331 square kilometers along the Sirkka Shear Zone in the Central Lapland greenstone belt and includes discoveries such as Helmi, Kutuvuoma, Soretia
CEO Matti Talikka said the scale of the opportunity at Helmi, in northern Finland, is beginning to resemble that of globally significant gold camps
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The company said Keulakkopää exploration permit includes two separate areas totaling 6.4 square kilometers and it is located approximately halfway between Aurion's Aamurusko Discovery and Rupert Resources' 3.95 Moz Ikkari Deposit
Aurion said 29 holes, for 6,549.7 metres were drilled at Helmi and nearby target areas from February to April this year and the latest assays hail from the first three holes
The latest assays showed continued gold intercepts and the aim of this year's work, which has a preliminary budget of budget of around C$10 million and includes 12,000 metres (m) of drilling, is to test the extension of mineralized zones at
Several gold-bearing structures were intersected in gabbro at the Aamurusko prospect, with gold values of up to 6.2 grams per ton
Drill results from its joint venture with B2Gold Corp included 1.7 grams per tonne gold over 45 metres
Highlights from the results included 70.1 grams per ton (g/t) gold over 0.70 metres (m) and 11.99 g/t over 2.6m, and 27.6 g/t gold over 0.70m
Drill results included 1.3 grams per tonne (g/t) gold over 19.9 metres (m) from 89.3m depth
It said the net proceeds received from the offering and the non-brokered financing will be used for the exploration and advancement of its exploration properties in Finland and for general working capital purposes.
Aurion said Kinross has the “right to maintain its pro-rata interest in the company for so long as it owns at least 5% of the issued and outstanding common shares of the company from time to time”
Kinross can earn a 70% undivided interest in the property by incurring a minimum of US$5 million in exploration expenditures and by paying Aurion C$100,000 on, or before, the fifth anniversary of the agreement
The agents also have an option, exercisable in full or in part up to 48 hours before the closing of the offering, to sell up to an additional 1,666,667 shares for additional gross proceeds of up to C$1.5 million.
The company said the Kuortis property is located approximately 25 kilometres south of Agnico-Eagle's Kittilä Mine in the Lapland Province of Finland and adjacent to its existing JV property with B2Gold
The St John’s, Newfoundland-based company is making a Nordic gold play and said early results indicate potential for “very large, high grade” mineralized systems
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
