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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"This new discovery further validates the potential for the existence of multiple economic gold deposits along the 8 kilometre structural corridor within the JV property," said Aurion CEO Matti Talikka
The joint venture covers an area of around 331 square kilometres along the major crustal scale Sirkka Shear Zone in the Central Lapland greenstone belt
The company's CEO Matti Talikka said the Central Lapland Greenstone Belt in northern Finland is “emerging into a major gold camp and Aurion is positioned to be at the core of this exciting development”
The company said elevated gold values were encountered within several geologic settings including volcanic, sedimentary and intrusion related domains
A 5,000-meter diamond core drilling program has commenced within the Kutuvuoma-Ikkari corridor in the eastern part of the JV property by B2Gold Corp
The now recommenced drill program is designed to test the continuity of the mineralized zones at the NW and Gap Zone targets
Drill results included 88.90 grams per tonne (g/t) gold over 0.40 metres
Drilling is designed to test a number of target areas including the high-grade Aamurusko and Notches prospects at Risti and the Hinge Zone prospect at Launi East
The company said Mike Basha has resigned as president, director, and officer of the company for personal reasons
The company said the net proceeds of the offering will be used for exploration activities on Aurion's 100%-owned properties in Finland, including drilling at the Risti Property
Kinross initially purchased 6,853,500 common shares of the company by way of a private placement in September 2017, thus acquiring 9.98% of the then issued share capital of Aurion
The explorer has signed an agreement with Cormark Securities and a syndicate of agents for the proposed private placement
The company said it plans to use the net proceeds from the offering for exploration and general corporate and working capital purposes
"The discovery of new zones of gold mineralization in two previously untested areas, with a modest drill program of only 2,000 m, highlights the potential of the extensive Aurion-B2Gold JV area," said Aurion CEO Matti Talikka
The Canadian gold explorer has a portfolio of properties in Finland, including its flagship Risti and Launi projects
So far, 24 out of 27 holes at the property have hit gold mineralization, the firm noted
The purchase takes his stake in fluorspar explorer to stake to 4.72%
Tertiary will retain a royalty interest in the two sites, Kaaresselkä and Kiekerömaa
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The miner will keep a royalty interest in the two sites, Kaaresselkä and Kiekerömaa, and receive £100,000 in cash and shares.
