The much anticipated assay results have finally been released. AUX Resources (TSXV: AUX) this morning released assay results from its 2020 drill program at its flagship Georgia Project, which contains the historic Georgia River Mine. Highlights from the program include 103 g/t gold and 53 g/t silver being intersected over 2.74 metres.
The 2020 drill program was focused on extending mineralization from the Georgia River Mine, a historic high-grade gold mine located on the property. Specifically, drilling was focused on the extensions of the SW vein along both strike and depth, with intercepts revealing that the vein remains open both at depth and along strike.
Drill results from a total of eight holes were released this morning, with the highlighted figure above coming from drill hole GE20023. Hole GE20022 meanwhile posted intersections as high as 62.5 g/t gold and 36.6 g/t silver over 2,24 metres.
Looking to 2021, the company has indicated that drilling will be focused on testing the limits of the high-grade zone and testing for structural controls of subsidiary high-grade ore shoots. The company will now also look to evaluate other local vein sets for the potential of similar mineralization.
Sponsored · Selkirk Copper Mines
The company is also in the process of having assays completed for 5,000 metres of recovered historic diamond drill core from George. The core comes from exploration conducted between 1979 and 1996, which are expected to contribute to an improved understanding of the SW vein. Results from this effort are expected this month.
“Despite having been explored for over a century, our intercepts of the SW Vein are among the best ever recorded around the Georgia River Mine. Our drilling confirms that the target is open in multiple directions, including depth. Advancing underexplored historic mines has long been a powerful and successful driver in the Golden Triangle, and we see numerous parallels with other projects in the area, including Brucejack and the Scottie Gold Mine.”
Ian Slater, CEO of AUX Resources
Lastly, the company also conducted field work at its Silver Crown property during the 2020 field season, which included confirming the strike length of mineralization of the property to be beyond 1,400 metres. Channel sampling was conducted on 500 metres of vein strike length here, with samples collected every 40 metres. Results from this program are expected this month, with a 3,500 metre drill program currently planned for the 2021 season.
AUX Resources last traded at $0.24 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.
