Aurelius Minerals Inc (TSX-V:AUL, OTCQB:AURQF). CEO Mark Ashcroft said initial drill results have exceeded expectations as the company continues to report high-grade results from its Aureus East project in mining-friendly Nova Scotia, Canada.
The Toronto-based gold exploration company is drilling at the 1,068-hectare Aureus East project to define a new gold mineral resource and continue expanding on the successes of the Phase 1 program and initial Phase 2 program results.
The holes reported are from the ongoing surface drilling program, focusing on expanding mineralization along strike to the east, and at depth, as the company continues to identify previously overlooked gold horizons and an expanding limb system.
READ: Aurelius Minerals continues to intersect high-grade gold at its Aureus East Mine in Nova Scotia
In a statement, Ashcroft said: "Drill results have exceeded our initial expectations and continue to demonstrate the high-grade and continuous nature of the Aureus East Gold project.”
“Utilizing the Aurelius approach, we continue to expand the mineralization and refine the geological model, while drilling previously underexplored areas, as we consistently encounter high-grade intersections within a broadly mineralized and substantial gold system. We are very pleased with these results and remain on track to produce a current mineral resource in Q1 2022," he added.
Here are the company’s Aureus East surface drilling program highlights:
- Hole AE-21-039: Aurelius drills 131.5 grams per tonne (g/t) gold (Au) over 0.6 metres (m), including 6.88 g/t Au from 0.8m, 19.30 g/t Au from 0.65m, and 25.40 g/t Au from 0.7m.
- Hole AE-21-036: Drills 26.40 g/t Au over 0.70m, 13.15 g/t Au from 0.75m, and 8.30 g/t Au from 0.65m.
- Hole AE-21-035: Drills 10.0 g/t Au from 2.65m, including 26.70 g/t Au from 0.95m, and 21.3 g/t Au from 1m.
- Hole AE-21-034: Drills 11.45 g/t Au from 0.90m, and 14.65 g/t Au from 0.55m.
The surface drilling component of the Phase 2 exploration is targeting overlooked gold horizons and the extensions into the north and south limbs. In Phase 1, the limbs of the gold horizons were identified as an important growth opportunity.
Aurelius is focused on advancing its recently acquired and renamed Aureus Gold properties, including Aureus East and West, the Tangier Gold project and the Forest Hill Gold project in Nova Scotia.
It is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, which includes the 968-hectare Mikwam property, in the Burntbush area on the Casa Berardi trend, and the 12,425-hectare Lipton property, on the Lower Detour Trend.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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