Auryn commences drilling at the Huilacollo Gold Project in Southern Peru
Tuesday, Nov 28, 2017
Auryn Resources Inc. is pleased to announce that after a short delay, the Company has received the final notice to commence drilling operations from the Peruvian Ministry of Energy and Mines on the Huilacollo oxide gold epithermal project located in Southern Peru.  The drill is currently being mobilized and the program is anticipated to start on or around November 30th.

The initial core drill program will include 5,000 meters across the Huilacollo project that will be conducted in 2 phases where the first phase will focus on the expansion around the mineralized areas around the top of Andamarca hill where minimal historical drilling has taken place. The second phase of drilling will continue in 2018 and will focus on the Tacora and Huilacollo II licenses.

The Tacora target area is interpreted to be a part of a potential feeder system to the known mineralization on the Andamarca hill. It is defined by a 4 kilometer long northeast trending graben that contains abundant breccia bodies that represent high priority oxide gold targets. Twelve historical grab samples from across an 80 meter wide breccia body, demonstrate the excellent potential of these targets.

The targets on the Huilacollo II license are defined by the recently discovered 1.8 kilometers of gold and silver anomalies that are interpreted to represent an intermediate sulphidation system.  No drilling has been conducted over these anomalies provide Auryn with large-scale targets that have the potential to deliver a significant discovery.

The Huilacollo project is located approximately 15 kilometers northwest of the producing Pucamarca mine that currently has a 1.35 million ounce oxide gold resource1 and is being mined at 0.5g/t Au with a cash cost of US$313 per ounce.  Infrastructure at the Huilacollo project is exceptional with power, water, and well-maintained national roads within 1.5 kilometers of the project boundaries.   

Shawn Wallace, President and CEO commented, “We are very excited to begin drilling the first of our four Peruvian projects. The Huilacollo project has exceptional access to infrastructure and is viewed by Auryn management as an opportunity to discover highly valued oxide gold ounces.“

Mr. Wallace further stated, “The Huilacollo drill program will be the start of a continued exploration drilling effort in Peru which will continue across the Sombrero, Baños del Indio and Curibaya projects and give Auryn Shareholders the opportunity for significant discoveries year round.”

Auryn’s technical team believes that the gold bearing system at Huilacollo is related to the substantial Baños del Indio alteration system along a north-south trending fault that link the two epithermal systems. The geological data being gathered at Huilacollo will be useful when applied to the Baños del Indio project.

Other Ongoing efforts in Peru

Sombrero

Auryn is in the final process of completing the first of two community agreements with the local communities at Sombrero, which will allow access to the southern half of the project.  Previous trenching and surface work in this area have yielded several multi-gram gold grab samples and multi-percent copper samples in addition to a trench of 53 meters at 1.75 g/t including 14m of 5.75g/t Au (See Auryn’s press release dated February 24, 2017).  Access to the northern half of the project is currently being pursued.

In addition, the Company has expanded the Sombrero position from the original 3,800 hectares to over 15,000 hectares in response to reconnaissance activities encountering Au/ Cu mineralization in several areas.

Baños del Indio


Negotiations with the host communities of the Baños del Indio project are ongoing and agreements are expected to be reached in 2018.

For more information, please visit: https://www.aurynresources.com/

Featured Profile

Featured Videos

Featured Case Studies