April 14, 2015 @ 13:23
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.
Following the trenching program reported on March 24th, a series of drill holes were planned to further explore the new gold zone discovered in drill hole L15-24 that intersected 45 meters of 0.78 g/t Au. The conclusion from the trenching was that in this area the gold zone is controlled by structures trending at approximately N20⁰E and dipping steeply to the west. The results have been received for the first two holes of this follow up program that were drilled to the east from a platform sited 25 meters south and 40 meters west of L15-24. Hole L15-26 was drilled at an inclination of -50⁰ and was followed by hole L15-26A at an inclination of -70⁰ as shown in the following table.
Both holes intersected multiple zones of argillically to sericitically altered granodiorite with quartz-pyrite veinlets that have been predominantly oxidized to quartz-iron oxides in hole L15-26 and to a lesser extent in hole L15-26A. On this section, the alteration/mineralization terminates at the contact with an andesite dyke but it is unclear at present if this is a major control. The increase in sericite content and the predominance of stockwork veining distinguishes this zone from the deeper Gordon breccia zone. There is an increase in the thickness of the gold mineralization down dip on the section and it will be necessary to drill a deeper hole below L15-26A from a platform sited further to the west to follow up the results presented in the table below and illustrated on the accompanying cross-section.
Further results from the drilling will be announced as assay results are received.
The samples from L15-26 and 26A 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.
