Aurion Resources (TSX-V:AU) shares rose on Tuesday after the company told investors that a drilling program at the Kaaresselkä Prospect on its wholly-owned Risti property in northern Finland’s Central Lapland Greenstone Belt has identified new gold zones.
In a statement, Aurion said that 13 holes were drilled, and two previous holes were extended, with all holes intersecting gold, including 8.25 grams per tonne (g/t) gold over 4.3 meters and 63.2 g/t gold over 0.85m.
Additionally, the program revealed new mineralization 100m north of the Vanha main trend within the Kaaresselkä Prospect, with gold intersected at Vanha over 500m strike length.
The company's shares rose 5.2% to C$0.51 by 1pm in Toronto.
The company noted that the mineralized system is open along strike and at depth, with the mineralization resembling the Helmi discovery, part of its Aurion-B2Gold Corp joint venture (JV), as well as Rupert Resources’ Ikkari discovery.
The prospective and mainly unexplored structural trend is interpreted to extend over 15 kilometers within the property and further into the Aurion-B2Gold JV hosting the recent Vuoma discovery, Aurion noted.
"Aurion's latest program at Kaaresselkä intersected gold in every hole,” Aurion CEO Matti Talikka commented.
"These results combined with B2Gold's recent Vuoma discovery continue to demonstrate the exciting potential along the largely untested southern domain boundary, a 20+ km structural trend.”
The company said results are pending for the scout drill program.
Aurion Resources (TSX-V:AU) is a Canadian exploration company whose 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.
~ Updated with share price movement ~
Contact the author at stephen.gunnion@proactiveinvestors.com