Aurelius Minerals Inc (TSX-V:AUL, OTCQB:AURQF) told investors it has now completed its Phase two drill program at its flagship Aureus East gold project in Nova Scotia and an updated resource is earmarked for within the next six to eight weeks.
The latest assays hail from four underground holes, two at surface and two wedge holes, the company said, noting that mineralization had been expanded laterally to the north, south and at depth.
More than 12,000 metres (m) of drilling was completed in Phase 2 at Aureus East, with all holes hitting gold mineralization.
"Today's drill results demonstrate the strong continuity along strike, allowing for an expansion of the gold zones to the east, laterally to the north and south and at depth. I am very pleased with the success achieved by our exploration team," said Aurelius CEO Mark Ashcroft in a statement.
READ: Aurelius Minerals says it is encouraged by latest drill results from Aureus East ahead of updated resource this quarter
Aurelius vice-president (VP) of exploration Jeremy Niemi added: "Gold mineralization continues to expand at depth and remains open. In the first two phases of our program, we completed 49 holes, along with two wedge holes, with a 100% success rate of intersecting mineralization."
Niemi noted that the firm expected the final interpretation of results and their incorporation into an updated mineral resource estimate within the "next six to eight weeks".
Among the drill results highlights were multiple high-grade intersections, including a length of 0.65m from 395.75m depth, which hit 73.4 grams per ton (g/t) of gold in one hole.
Another hit 65.9 g/t of the yellow metal over 0.95m from 205.45m depth, while yet another intercepted 0.5m at 28.8 g/t gold from 22m depth.
Aurelius said the near-term focus at Aureus East has now shifted to an underground channel sampling and mapping program in a bid to identify continuous mineralization directly adjacent to existing underground infrastructure.
In addition, the Ministry of Environment and Climate Change has told the firm it will need to complete a Class 1 environmental assessment (Class 1 EA) to review the proposed reopening, and expansion, of the Aureus East asset.
The company said it would " engage in the process of completing the Class 1 EA in conjunction with the release of the updated mineral resource estimate and a preliminary economic assessment".
Aurelius Minerals 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