Aurelius Minerals Inc (TSX-V:AUL, OTCQB:AURQF) has reported encouraging results from re-logging and sampling historical drill holes from its Tangier and Forest Hill projects in the prolific Meguma gold district of Nova Scotia, Canada.
The company reviewed core from ten holes drilled from surface by diamond drill and found gold mineralization, along with "significant new" gold intersections, which were overlooked by prior operators.
"Our reconnaissance exploration work, at both Tangier and Forest Hill, involved significant research into historical data and assessment reports, culminating in a review and the relogging of drill core from both projects, which were located at our secure storage facilities," explained Aurelius CEO Mark N.J. Ashcroft in a statement.
"As we discovered during our initial reconnaissance exploration of the Aureus East and West projects, the assets acquired in Nova Scotia continue to show significant potential and opportunity as we apply a different methodology in evaluating the projects," he added.
READ: Aurelius CEO says drill results ‘exceed expectation’ as it intersects high-grade gold at Aureus East Mine in Nova Scotia
In all, 1,242 samples were taken with 1,220 samples from previously unsampled core and 22 samples from previously assayed core.
Highlight results from the Tangier project included 302 grams per tonne (g/t) gold over 0.43 meters (m) from a depth of 37.55m and 23.5 g/t of the precious metal over 0.31m from 54.07m in one hole. Another hole, drilled in 2019, showed core with 32.9 g/t gold over 0.29m from 20.35m depth.
At Forest Hill, highlight assays included 100 g/t gold over 0.3m from 96.8m, while three of the five holes sampled showed "significant gold mineralization", said the company.
The Tangier project, 65 kilometers (km) east of Halifax, has a long history with gold first identified in 1860. Mining and exploration have taken place since but with almost nothing occurring outside the traditional gold veins.
The Forest Hill project is also a past producer and sits 150 km east of Halifax and 22 km from the town of Sherbrooke.
It was also mined and explored in the past via underground openings, which are now capped and flooded. The site was rehabilitated in 1998.
A resource estimate, published in 2020, for Forest Hill, shows 322,000 tonnes at 7.1 g/t gold, which includes 73,000 ounces in the indicated category and 905,000 tonnes at 7.1 g/t gold, including 208,000 ounces in the inferred.
This resource is limited to a depth of 300m and a strike length of around 2,300m and remains open at depth and along strike.
Aurelius is focused on advancing its 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 advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario. These are the 968-hectare Mikwam property and the 12,425-hectare Lipton property on the Lower Detour Trend.
Contact the author at giles@proactiveinvestors.com