AUX Resources (TSXV: AUX) this morning announced that it has begun a two drill, 3,500 metre diamond drilling program at the Georgia Project, the firms flagship property located within British Columbia’s Golden Triangle, just south of Stewart. The drill program is being conducted as a follow up to the previously announced field study initiated by the company.
Drilling planned for the current program includes the past producing Georgie River Mine, which is believed to be located just on the periphery of a much larger mineralized structure. The company has spent the last decade consolidating the land in this area, resulting in the project now consisting of 7,900 hectares, while re-interpreting the historic data available for the region. This extensive analysis has resulted in the model, which identifies the past producing mine as being “situated at the margin” of this mineralization.
The Georgie River Mine, last operated in 1939, consists of a total of 1.2 kilometres of underground access on three levels in total. While explored multiple times since the 70’s, any now-historic work conducted on the mine following the halt of production focused almost exclusively on the area of the existing mine workings, rather than the currently perceived much larger hydrothermal system.
“We are all excited to have the drills turning on the Georgia Project. Historic drilling of the deposit indicates exceptional gold grades in a system that was never drilled off. Our new model suggests that the historic intercepts were at the periphery of a much larger mineralized system, and we are eager to test the team’s ideas.”
Ian Slater, CEO of AUX Resources
The current drill program as a result is intended to focus on the model, extending known ore shoots from the past-producing mine while testing new developed and highly prospective targets outside of this known deposit. The company will also be assessing and substantiating the non-compliant high-grade resource at the mine.
AUX Resources last traded at $0.48 on the TSX Venture.
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