Mobilization for AUX Resources Corporation (TSXV: AUX) has begun. The company announced this morning that its geological field crew is enroute to the firms flagship property in the Golden Triangle of BC. The 2020 field program is to consist of drilling testing, detailed geological mapping, geochemical sampling and geophysics of the property.
Referred to as the Georgia Project, the high grade gold property hosts the past producing Georgia River Mine, which was located on the periphery of a mineralized system. The property itself is located on tidewater, just 16 kilometres south of Stewart, BC, and consists of 7,900 hectares of claims.
AUX Resources is currently planning on diamond drilling over 3,500 metres on the property, with a focus on the Hume Creek Deformation Zone. The company will also look to conduct drilling surrounding the past producing mine located on the property, which was considered to be on the edge of a large mineralized system based on past fieldwork conducted on the site.
With respect to past drill work conducted on site, a total of 11,750 metres has previously been drilled. However, cores from previous drilling were only sampled for narrow high grade intercepts. The result is that the majority of the core was not actually analyzed. AUX is now in the process of having these cores resampled and relogged in their entirety, to glean further data from past work conducted on site by the previous operators.
The additional data from existing cores is viewed as being a cost effective way to leverage work conducted on site, while advancing the project with lower exploration expenses. Shoulder sampling between noted high grade intervals is being viewed as having the potential of defining broad intervals of mineralization that previously went undocumented.
AUX Resources last traded at $0.51 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.
Mexico: The World’s Leading Silver Producer
There is a saying in the mining industry that miners go where the minerals are....