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    AU   CA05156F1071

AURION RESOURCES LTD.

(AU)
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Delayed Bourse de Toronto  -  05/20 03:37:08 pm EDT
0.7800 CAD   -1.27%
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Aurion - B2Gold JV Extend Gold Mineralization at Helmi

01/20/2022 | 10:14am EDT

Aurion Resources Ltd. (TSX VENTURE: AU) (OTCQX: AIRRF) ('Aurion' or the 'Company') reports results for 4 holes drilled at the Helmi Discovery on the Aurion-B2Gold Corp. (TSX: BTO) ('B2Gold') Joint Venture (JV) in the Central Lapland Greenstone Belt in northern Finland.

Summary

Broad zones of consistent gold mineralization extend the Helmi Discovery

1.73 grams per tonne gold (g/t Au) over 44.95 metres (m) from 109.60 m, including 4.00 g/t Au over 9.20 m (IKK21006).

Mineralization extended 90 m down-dip from hole IKK21002

1.42 g/t Au over 30.70 m from 55.40 m and 8.39 g/t Au over 2.65 m from 165.40 m (IKK21009)

Mineralization extended 115 m along strike from drill hole IKK21002 o 1.46 g/t Au over 28.70 m from 19.80 m IKK21008

Mineralization extended 50 m up-dip from drill hole IKK21003

Assay results from an additional 7 holes drilled at Helmi during the 2021 drill program are pending

CAN$ 10 million JV budget for 2022

Exploration plans include approximately 12,000 m of drilling

Aurion is well positioned to contribute its 30% proportionate share of the expenditure

Comments

'Every one of the first five holes at the core of the Helmi Discovery have returned broad intervals of consistent gold mineralization indicating the existence of a mineralized system of scale. Eight of the first 13 holes over the extent of the Helmi Discovery intersected multiple zones of gold mineralization. Only six months after the first drill hole, the Helmi discovery is already showing potential to expand into an economic gold deposit at favorable pace and discovery costs as recently demonstrated by Rupert Resources' with their 3.95 Moz Ikkari Discovery,' commented Aurion CEO, Matti Talikka. 'On the back of the success in 2021, the JV is planning to increase the level of activities with a budget of CAN$10 million including approximately 12,000 m of drilling. Aurion is pleased to have retained a 30% ownership in the JV. Our strong working capital position enables us to maintain our proportionate share of the JV while continuing to advance our 100% owned properties.'

About Aurion Resources Ltd.

Aurion Resources Ltd. (Aurion) is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.

Contact:

Mark Santarossa

Tel: +1 (416) 371-1325

Email: msantarossa@aurionresources.ca

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
AURION RESOURCES LTD. -1.27% 0.78 Delayed Quote.-40.00%
B2GOLD CORP. -0.75% 5.28 Delayed Quote.6.02%
All news about AURION RESOURCES LTD.
05/20Aurion Resources Ltd - Aurion Expands Land Package in Central Lapland
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05/19Aurion Resources Ltd. Expands Land Package in Central Lapland
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Financials
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P/E ratio
Yield
Capitalization 91,7 M 71,4 M 71,4 M
EV / Sales -1
EV / Sales 0
Nbr of Employees -
Free-Float 87,8%
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Number of Analysts 3
Last Close Price 0,78 CAD
Average target price 1,85 CAD
Spread / Average Target 137%
Managers and Directors
Matti Talikka Chief Executive Officer & Director
Mark Randall Serdan Chief Financial Officer
David Lotan Non-Executive Chairman
Dennis N. Clarke Independent Director
David R. Loveys Director
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