VANCOUVER, British Columbia, Nov. 06, 2019 (GLOBE NEWSWIRE) — Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports it is continuing to extract valuable information from the holes previously drilled on its wholly-owned Georgie River gold project located on the tidewater of the Portland Canal, 16 km south of Stewart, British Columbia. Between 1979 and 2003, more than 100 holes were drilled by multiple operators focused on the area of past gold production. Core from more than 90% of these holes is stored on site and continues to return valuable information, which will contribute to more effective 2020 exploration.
Owing to delays in the provincial government’s referral process for drill permitting, the planned drill program was deferred until next season. That delay proved beneficial, as the Company has made excellent use of the time, both to review the results of 40 years exploration and to prepare infrastructure for 2020 drilling. An exploration camp in the area of historic drilling at the Georgia River Gold Mine, designed and constructed to house up to 12 personnel, was utilized for most of the work, winterized at the end of the field season and can be re-opened quickly.Auramex’ 2019 exploration prioritized the first systematic review of drill core stored at the mine site since its initial drilling, more than 20 years ago. Review of this core, in the context of the vastly improved geological understanding of the project and of the Golden Triangle region in general, is providing valuable insights into the Georgie River geological picture. In addition, the nearby Hume Creek Deformation Zone (HCDZ), identical in structural style to the SNIP-Bonanza structure in the northwest of the Golden Triangle and thought to be analogous to the Cadillac break in the Abitibi of Québec, was examined and sampled. It is believed that HCDZ is the primary fluid pathway of the precious metal-bearing fluids for the area and is essential to the formation of the gold mineralization at the historic mine and other targets.Historic drill collars were located during 2019 fieldwork and the correct location and orientation of the 1995/1996 mine grid was established from these collar data. Approximately 20% of the existing core has so far been recovered and photographed and key drill holes have been re-logged and sampled. Samples taken during re-logging are being submitted for geochemical, spectral and petrographic analysis with results to be reported when received and interpreted. These data will greatly augment knowledge of alteration style and gold mineralization and their relationship with lithology and structure.It is important to note that the historic drill logs were recorded at a time when the regional geological controls on gold mineralization were not well known and today’s modern analytical techniques, such as hyperspectral measurements of alteration, detailed micro-structural analysis and multi-element geochemical techniques were not yet available.During the winter months, all data from the re-logged drill core and the field examination of both the mine and the Hume Creek deformation zone will be integrated into a comprehensive GIS database. This will enable refinement of the evolving geological model for the area and development of more precise vectors for drilling. Much of this information will be made available on the Company’s website as it is completed.The technical disclosure in this release has been read and approved by Dr. Paul Metcalfe, PhD, P.Geo., a qualified person as defined in National Instrument 43-101.On behalf of the Board of Directors:Lawrence Roulston
President & CEOFor further information, contact:
Nancy Curry
Corporate Communications
info@auramex.com
www.auramex.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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