Aurion Resources (TSX-V:AU) has reported results for 14 holes from the summer-fall 2022 drilling program on the Aurion-B2Gold joint venture (JV) in the Central Lapland Greenstone Belt in northern Finland, which reveal new gold-copper mineralization along the Helmi-Kutuvuoma trend.
The company explained that the summer-fall drill program is a follow-up to the successful 2022 winter-spring drill program. The approximately 11,000-metre (m) program, which commenced in June, was designed to further test the strike and depth extensions of the mineralized zones at Helmi and regional targets identified from the geophysical and geochemical surveys.
"The discovery of gold and copper mineralized zones 2 kilometres (km) west from the Helmi Discovery and 4 km east from the Kutuvuoma Prospect (historic drill holes including 11.4 grams per tonne (g/t) gold (Au) over 13.3 metres) demonstrates the opportunity for further discoveries along the prospective structural corridor," Aurion CEO Matti Talikka said in a statement.
READ: Aurion Resources hails latest drill results at Risti property, including hitting multiple zones of gold mineralization at Kaaresselkä prospect
Summary of results:
- New zone of mineralization 2 km west of the Helmi discovery
- 6.25 g/t Au over 6m from 222.6 metres (m); 0.26 g/t Au and 1.07% copper (Cu) over 12.80m from 162.90 m (KUE22028);
- 1.02 g/t Au and 1.84% Cu over 5.6m from 97.4m, 0.55 g/t Au and 1.16% Cu over 4.2m from 105.8m (KUE22033); and
- New mineralized zones located 2 km west of Helmi Main Zone and 4 km east of Kutuvuoma Prospect (historic drill holes including 11.4 g/t Au over 13.3m) along the structural corridor.
- Gold intercepts at the western part of the Helmi Discovery
- 1.56 g/t Au over 24.8m from 159m (KUE22027).
- C$10.4 million JV budget for 2023
- Aurion fully financed to maintain 30% interest in the JV;
- Active winter drilling season ongoing with three drill rigs; and
- Results for five 2022 drill holes are pending.
Aurion noted that the fourteen holes (4,353.2m) reported targeted the western part of the Helmi discovery, the structural corridor to the west of Helmi and several other regional targets. Gold mineralization was intersected in eight out of 14 holes. The holes are in the western part of Helmi, 2 km along strike to the west of Helmi, 3.4 km to the northwest of Helmi and 3.3 km to the south of Helmi. Results for 5 holes drilled in late 2022 remain pending.
New zone of gold-copper mineralization
The company reported new zones of gold-copper mineralization, including 6.25 g/t Au over 6m, 1.02 g/t Au and 1.84% copper (Cu0 over 5.6m, and 0.26 g/t Au and 1.07% Cu over 12.8m, were intersected 2 km west of the main Helmi zone and 4 km east of the Kutuvuoma Prospect along the same structural corridor that hosts Ikkari, Helmi and Kutuvuoma. The drill holes targeted selected geochemical, geophysical and geological targets.
Helmi discovery
Aurion noted that the Helmi Discovery is located approximately 1.3 km west of Rupert Resources' 4.56 million-ounce Ikkari Discovery. The Helmi area covers approximately a 2 km strike length of the 8 km long sequence of prospective geology along a domain boundary in the eastern part of the JV property extending from the Ikkari Discovery to the Kutuvuoma Prospect.
It said the Helmi Discovery was made during the second half of 2021 and drilling has returned several significant intercepts including 2.05 g/t Au over 77.5m, 1.84 g/t Au over 52.4m, 2.44 g/t Au over 43.45m, 0.82 g/t Au over 108.1m, 1.73 g/t Au over 44.95m, 1.42 g/t Au over 30.7m, 1.42 g/t Au over 30.6m, 1.46 g/t Au over 39m, 1.46 g/t Au over 28.7m, 1.45 g/t Au over 35.5m, 1.11 g/t Au over 45.8m and 2.05 g/t Au over 18.3m.
The main mineralized system at Helmi extends over a 1 km strike length along the prospective structural corridor and remains open along strike and at depth.
Mineralization at Helmi is mainly hosted by strongly deformed and biotite-chlorite+/-magnetite-altered, quartz-carbonate-magnetite veined ultramafic rocks and mafic tuffs with fine-grained veinlet and disseminated pyrite. Gold mineralization has also been encountered in sedimentary rocks across the domain boundary.
Exploration plans for 2023
The company said the planned JV budget for 2023 is C$10.4 million representing B2Gold's largest greenfield exploration budget outside western Africa. It added that it is fully financed to contribute its 30% share of the planned expenditure.
The exploration plans include a minimum of 10,500m of diamond core drilling in various target areas including the Helmi Discovery, the Kutuvuoma-Helmi structural corridor as well as scout drill holes testing selected geochemical and geophysical targets elsewhere within the extensive (331 km2) JV property that covers tens of kilometers of the highly prospective major crustal-scale structure, Sirkka Shear Zone. In addition, generative work including base-of-till sampling, top-of-bedrock sampling and geophysical surveys continue during 2023.
Meanwhile, it said winter drilling season is ongoing with three drill rigs operating in selected target areas.
"With a budget of $10.4 million, 2023 will be another active year of exploration for the JV with an aim to expand the identified mineralized zones at Helmi and Kutuvuoma and to make new discoveries within the 331 km2 (square kilometre) property located at the core of an emerging gold belt," Talikka concluded.
Aurion's current focus is exploring its Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland. B2Gold operates the Aurion-B2Gold JV.
Contact the author at stephen.gunnion@proactiveinvestors.com