DISCOVERS NEW BONANZA GOLD ZONE AT RISTI
Prospecting and reconnaissance mapping have resulted in the discovery of new, bonanza-grade gold mineralization on Aurion Resources Ltd.'s (AU.V) 100-per-cent-owned Risti project in northern Finland.
An 1,150-metre-long-by-700-metre-wide area (Aurora zone) of gold mineralization with an apparent northeast-southwest trend was recently discovered by Aurion prospectors. Here, 133 rock grab samples collected from predominantly large and angular subcropping quartz-tourmaline blocks assayed from nil to 1,563.5 grams per tonne gold, including 36 samples which assayed greater than 31 grams per tonne Au (one ounce per tonne). The average grade of all 133 samples is 74.3 grams per tonne Au. Many of these samples contain abundant coarse visible gold. Numerous quartz blocks within this trend are greater than one metre in at least one dimension and locally reach up to 3.5 metres by three metres by one metre in size.
The Aurora zone lies within a broader area of approximately 2.3 kilometres by three kilometres, hosting multiple quartz-tourmaline-iron-oxide veins, breccias and stockworks outlined in outcrop, suboutcrop and angular boulders. A total of 525 rock grab samples from this area and including the Aurora zone have assayed from nil to 1,563.5 grams per tonne Au. The average assay of all samples is 21 grams per tonne Au. The samples reported herein are selective grab samples and are not necessarily representative of the real tenor of mineralization within the host rocks; however, they do demonstrate the abundance of coarse visible gold present within a robust gold mineralized system.
The veins range from 0.1 metre to greater than three metres wide, appear to be extensional in nature, trend northeast-southwest, and are hosted by quartzites and polymictic conglomerates of the Kumpu group, which is unconformably in contact with mafic to ultramafic volcanics of the Sodankyla group.
The Risti project will be a primary focus of Aurion in 2017, exploring approximately 30 kilometres along what may be interpreted as regional unconformities defined by the contact between the Kumpu group conglomerates and the older Sodankyla group mafic and ultramafic volcanics.
Aurion has recently acquired approximately 40,000 hectares of new tenements focused on this highly prospective, previously unrecognized target concept within the Paleoproterozoic, Central Lapland greenstone belt (CLGB). The Risti Project which comprises approximately 14,000 ha is east-southeast of and contiguous with Kutuvuoma but is wholly owned (100%) by Aurion.
Please see attached link to maps on our website http://www.aurionresources.com/i/pdf/NR17-1Figures.pdf.
The geological setting of the new high-grade gold mineralization within the Aurora Zone has many similarities to prolific gold-rich orogenic gold belts globally, specifically the Abitibi Province of Northern Ontario. The Aurora Zone appears to be underlain by young unconformable polymictic conglomerates of the Kumpu Group. These Kumpu Group Conglomerates resemble the Timiskaming conglomerates of the Timmins and Kirkland Lake area of the Abitibi and occur in a similar geo-tectonic setting ( For example, both are part of the youngest stratigraphic sequence within their respective belts). The Kumpu Group and the Timiskaming Group were deposited in late orogenic extensional basins. They form in relation to major movement along regional faults or deformation zones. In the Abitibi many high-grade multi-million ounce gold deposits are temporally and spatially associated with the Timiskaming conglomerates (or their equivalents) in close proximity to major regional deformation (fault) zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake Deformation Zones. The Kumpu Group appears to have been deposited in a similar geological setting adjacent to the Sirkka Shear Zone which is a major deformation zone in the CLGB. Strong alteration including fuchsite, tourmaline, iron carbonate, albite and quartz veining is seen along the length of this structure.
Mike Basha, President and CEO of Aurion commented: "To have made such a high grade gold discovery at surface belt is very encouraging and clearly demonstrates the underexplored nature of the CLGB. We look forward to the start of the field season to pursue this high grade gold mineralization in the context of a new target concept."
Mike Basha, P.Eng., P.Geo., Aurion's President and CEO, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.