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Aurelius Minerals completes airborne geophysical survey and optical televiewer program in Nova Scotia

Published: 13:50 20 Jul 2021 BST

Aurelius Minerals Inc -
The optical televiewer program employs a downhole probe to capture detailed photographs and record key structural measurements

Aurelius Minerals Inc (CVE:AUL) (OTCMKTS:AURQF) (FRA:1GA) said it had recently completed two advanced exploration programs at its wholly-owned Nova Scotia gold projects, which will help its drill targeting efforts.

A high-resolution 1,130 line kilometres helicopter geophysical survey was flown along the gold-rich Meguma formation with line spacing at 75 metres in three distinct blocks; one over the Aureus East and West projects, one over the Tangier project and the third over the company's Forest Hill project. 

READ: Aurelius Minerals increases size of mineralized system with Phase 1 drilling at its Aureus East project

The second study was a high precision borehole optical televiewer program at the firm's Aureus East and West projects, which was designed to map out key structures and contacts and assist in expanding and defining gold zones.

"We are really excited to have carried out these important studies; the results will provide us with critical data to support our drilling strategy," said Jeremy Niemi, the vice-president (VP) of exploration.

"Our properties are under-explored and offer great opportunities to find more gold. There are strong indications of multiple gold trends adjacent to our known gold zones, especially at Aureus East and West.

"The airborne survey allows us to quickly identify potential new trends and provide our team with prioritized corridors to carry out focused ground exploration. In addition, the televiewer survey provides a new level of detail that will substantially refine our interpretation of the geology hosting our gold."

Meanwhile, Phase 2 drilling at Aureus East continues, with one underground rig and a second at surface.

The work is aimed at expanding the gold mineralization near the underground infrastructure and build a drilling dataset to prepare a mineral resource, said the company.

Also in the statement, Aureus noted that in connection with the private placement financings that closed in May this year, Aurelius had issued shares to Sprott Private Resource Lending (SPRL) to satisfy the exercise by SPRL of its participation right, to maintain its 16.31% shareholding of Aurelius.

Aurelius is focused on advancing its Aureus Gold Properties, including Aureus East and West, the Tangier gold project and the Forest Hill gold project in Nova Scotia, Canada. It also has two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada.

Contact the author at giles@proactiveinvestors.com

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