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Aurelius Minerals says first phase drilling at Aureus West project, Nova Scotia has "exceeded" expectations

Published: 13:12 20 May 2021 BST

Aurelius Minerals Inc -
Highlight results included an intercept of 38.6m at a grade of 1.05 g/t gold starting from a depth of 12m in one hole

Aurelius Minerals Inc (CVE:AUL) (OTCMKTS:AURQF) (FRA:1GA) told investors that the first phase drilling at its Aureus West project in Nova Scotia had exceeded expectations, confirming high grades and the presence of further gold mineralization. 

The company reported assays from four holes, of a ten-hole program for 4,600 metres (m), which was completed in 2020 at Aureus West.

READ: Aurelius Minerals closes the final tranche of its C$6M private placement

Highlight results included an intercept of 38.6m at a grade of 1.05 grams per tonne (g/t) gold starting from a depth of 12m in one hole, which included a length of 0.9m at 17.55 g/t of the precious metal. Another hole hit 61.3m grading 1.33 g/t gold starting from 161m depth.

"Our goal was to confirm the presence of high-grade intervals and confirm the presence of mineral haloes, which we have done," said CEO Mark Ashcroft in a statement.

"Furthermore, the experience gained drilling both Aureus West and Aureus East, provides the opportunity to continually refine the geological model, and improve our drill targeting and selection based on an improved understanding of the orientation and structure of the mineralization."

Jeremy Niemi, VP of Exploration, added: "When we acquired these assets, we were excited about the opportunities at Aureus West to both confirm the presence of high-grade gold and to grow the existing gold mineralization. The Phase One drilling has exceeded our expectations."

The Aureus West project already contains an inferred resource of 269,000 tonnes at a grade of 6.1 g/t for a total of 53,200 ounces of gold and lies around 1km south of the company's Aureus East Gold project.

Aureus West plays host to a gold system at surface, with a current strike length of 1,600m, extending to over 500m at depth and is greater than 100m wide. It remains open in all directions, noted the company.

Previous reported drill assays included 2.5m at 13.20 g/t gold, including 0.5m at 46.40 g/t gold in one hole, while recent prospecting has identified a new opportunity for a gold zone to the south and parallel to the main zone.

A Phase two program at Aureus West this year, consisting of up to 10,000m, will focus on defining the higher-grade gold domains, which are hosted within wide lower grade zones.

The team will also develop targets to the north of the Aureus West deposit, towards the Aureus East project and will also look to identify new gold mineralization and to close the 900m gap between the two gold systems.

Aurelius is advancing the Aureus East and West, the Tangier gold project and the Forest Hill Gold in Nova Scotia. The company also has two district-scale gold projects in the Abitibi Greenstone Belt in Ontario.

Contact the author at giles@proactiveinvestors.com

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