April 27, 2015 at 10:50
AURYN Mining Chile SpA is pleased to provide an update on the diamond drill program being conducted on the Altos de Lipangue project located approximately 30 kilometers northwest of Santiago, Chile.
Assays have been received from the second set of holes in the planned follow up drill program to explore the new gold zone discovered in hole L15-24. The conclusion from the trenching and the initial two drill holes of the follow up program was that in this area the gold zone is controlled by structures trending at approximately N20⁰E and dipping steeply to the west. Holes L15-27 and L15-27A were drilled toward the east from a platform located 50 meters to the north of the L15-26/ 26A drill holes. Hole L15-27 was drilled at an inclination of -50⁰ and was followed by hole L15-27A at an inclination of -70⁰ as shown in the following table.
Hole L15-27 intersected a zone of quartz-sericite altered granodiorite with numerous quartz veins/ veinlets and short sections of hydrothermal breccia in the interval from 35 to 52 meters. In general the zone was oxidized with only minor amounts of remnant pyrite. The 17 meter intercept graded 1.0 g/t Au and included a 3 meter zone from 37 to 40 meters that graded 3.42 g/t Au.
Alteration and quartz veining was weaker in hole L15-27A with the best zone occurring from 63 to 71 meters. Gold values in the hole were low with the best value being 0.29 g/t across 1 meter from 65 to 66 meters depth.
Further results from the drilling will be announced as assay results are received.
The samples from L15-27 and 27A were obtained by sawing the core and bagging one half for delivery to the Andes Analytical Assay laboratory in Santiago-Chile. The assaying procedure included ICP determination of the values for 33 elements plus Fire Assay to determine the values for gold. Standards, blanks and duplicates were routinely added to ensure compliance with QA/QC protocols.
This release was prepared and approved by David Bent, Exploration Manager for AURYN Mining Chile SpA who is a registered P. Geo (Nova Scotia) as well as a member of the Colegio de Ingenieros del Peru