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    AU   CA05156F1071

AURION RESOURCES LTD.

(AU)
  Report
Delayed Bourse de Toronto  -  02:39 2022-09-23 pm EDT
0.4000 CAD    0.00%
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Aurion Resources Ltd. - Update on Regional Exploration Activities and Commencement of Drilling at Risti

08/12/2022 | 09:37am EDT

Aurion Resources Ltd. (TSX VENTURE: AU) (OTCQX: AIRRF) ('Aurion' or the 'Company') announces results from regional exploration programs and commencement of drilling at its wholly owned Risti property located in the Central Lapland Greenstone Belt in northern Finland.

Summary

Multiple gold in till anomalies

Large number of gold and pathfinder element in till anomalies identified within Risti

1,938 new base of till samples taken at Risti, results pending for over 600 samples

Follow up and expansion of the sampling program ongoing

Several large-scale structures interpreted from geophysical data

Several structural features potentially representing domain boundaries and shear zones interpreted from the geophysical data sets

Property wide drone magnetic survey completed

Ground magnetic surveys on selected areas ongoing

Drilling commenced, base of till sampling program continues

Drilling program commenced and expected to continue until the end of 2022

Drilling to test for extensions of gold mineralization at Aamurusko

Scout drilling to test regional targets such as base of till anomalies and geophysical features

Base of till sampling continues with follow up and expansion of the program

Comments

'We are pleased to recommence diamond drilling on Aurion's 100% owned Risti property. The 2022 program will focus on growing our high-grade discovery at Aamurusko and will include regional targets, under cover, detected by base of till sampling (BOT) and geophysical surveys. Significant recent discoveries in Lapland; Kittila Mine (Agnico Eagle), Ikkari (Rupert Resources) and Sakatti (Anglo American), resulted from BOT and geophysics programs.' commented Matti Talikka, Aurion's CEO.

Update on regional exploration activities

The vast majority of the Risti property is covered by glacial till. Such areas are not amenable to prospecting and surface mapping that has led to multiple discoveries, including the Aamurusko high-grade discovery. Till sampling combined with geophysical surveys have been key exploration methods behind most gold and base metal discoveries within the Central Lapland Greenstone Belt, including Agnico Eagle's Kittila Mine, Ikkari by Rupert Resources and Sakatti by Anglo American.

Aurion commenced a regional scale till sampling program in late 2020 and has continued the program throughout 2022. The aim of the program is to provide information on regional geology and gold prospectivity in till covered and mainly unexplored parts of the property.

The sample spacing along the profiles varies between 25 and 100 metres (m) and the distance between profiles is up to several kilometres. The reconnaissance sampling covered only a limited part of the property and the sample density remains very sparse in many areas of interest.

The sample depths vary between 0.53 and 35.20 m with an average depth of 4.48 m. The sampling targeted the base of till layer, but in some locations the base of till layer was not reached for example due to boulders in the till.

A total of 1,938 new base of till samples have been taken from the Risti property since late 2021. Results are pending for over 600 samples. The results to date highlight several areas with elevated gold at Risti. For example, thirty samples have returned highly anomalous values exceeding 0.1 g/t gold in till with the highest value of 1.26 g/t gold. In addition, several pathfinder elements have returned highly anomalous values of up to 1,975 ppm (parts per million) arsenic, 2,560 ppm copper, 1 ppm tellurium, 7.48 ppm silver, 815 ppm lead, 9,230 ppm zinc, 0.129 ppm platinum and 0.086 ppm palladium.

Elevated gold values were encountered within several geologic settings including sediment, mafic volcanic, ultramafic volcanic and intrusion related domains.

A drone magnetic geophysical survey covering the whole Risti property has been completed. The survey has provided valuable information for the interpretation of geological features including structures that play a key role in the emplacement of gold mineralization.

Ground magnetic surveys are ongoing in selected target areas with an aim to provide more detailed geophysical data to support interpretation of structural features and lithologic units.

Many of the gold in till and pathfinder anomalies coincide with or are in close proximity to potential structural features and/or lithological contacts interpreted from geophysical data sets.

The ongoing follow-up activities include infill base of till sampling and/or scout drill testing. The base of till sampling program will also be expanded into previously untested areas.

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.
ANGLO AMERICAN PLC -5.94% 2670 Delayed Quote.-11.47%
AURION RESOURCES LTD. 0.00% 0.4 Delayed Quote.-68.46%
RUPERT RESOURCES LTD. -8.75% 3.65 Delayed Quote.-35.96%
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Financials
Sales 2021 - - -
Net income 2021 -7,38 M -5,44 M -5,44 M
Net cash 2021 25,3 M 18,6 M 18,6 M
P/E ratio 2021 -17,4x
Yield 2021 -
Capitalization 47,1 M 34,8 M 34,8 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 87,0%
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Number of Analysts 3
Last Close Price 0,40 CAD
Average target price 1,20 CAD
Spread / Average Target 200%
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 Chief Financial Officer & Secretary
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