AUX Resources (TSXV: AUX) this morning reported the results from the re-logging and sampling of historic core samples in the firms possession. The results come from a past operator whom was solely focused on quartz veins. Highlights from the drill cores however were excellent, with the company reporting values of 24.3 g/t gold over 4.4 metres and 10.7 g/t gold over 7.2 metres among others.
The samples come from a total of 46 holes that covered an aggregate of 5,016 metres at the firms flagship Georgia Project. Both the highlight holes, GR95-06 and GR95-09, reportedly ended in mineralization while extending previously known intercepts. A new high-grade result of 20.5 g/t gold over 1.0 metre was also identified within the logged historic cores.
The historic core was reportedly drilled between 1979 and 1996, which was then left on site of the project, enabling the company to resample it at a much lower cost than drilling the property themselves. The data is now being used to fill in gaps within the geological model, and to improve the understanding of mineralization on the property.
“We are extremely encouraged by the results of our re-logging and sampling program. We were able to recover over 5,000 metres of historic drill core, which was essentially a second drill program, more than doubling the meterage drilled during the 2020 field season.”
Ian Slater, Chief Executive Officer
There are reportedly two zones on the Georgia property, the Georgia Zone and the SW Vein. The historic mine operations were reportedly focused on the SW vein, with one adit extending briefly into the Georgia Zone. The Georgia Zone has reportedly produced significantly higher grades than the SW Vein in subsequent drilling and exploration, with the SW Vein producing a head grade of 22.6 g/t gold during mining operations.
Sponsored · Selkirk Copper Mines
Lastly, drilling conducted last year reportedly intersected grades that cannot be correlated with the Georgia Zone, leaving the company to suspect that they may have intersected a separate high-grade target east of the Georgia Zone.
AUX Resources last traded at $0.295 on the TSX Venture.
FULL DISCLOSURE: AUX Resources Corporation is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover AUX Resources Corporation on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
