La Bandera, Durango, Mexico - Prospective for epithermal Au deposits, the property hosts a greater than 20 km long, under-explored epithermal gold vein system. In 2011-2012 the property was optioned to Aurico Gold who drilled 5300 m in 11 widely spaced holes with limited results. Several compelling targets remain to be tested across the property. Aurion is currently seeking a new JV partner.
Kawich Gold Project, Nevada - Prospective for epithermal gold deposits and located in the Walker Lane belt. The property is host to a greater than 7 km long by greater than 1.0 km wide volcanic hosted low sulphidation epithermal vein system. The veins which locally reach 4 m in width occur within a broad zone of alteration. The property has been explored intermittently since the early 1900's including some drilling and small scale mining from high grade veins. Drilling by previous explorers in the 1990's, testing the bulk tonnage potential, intersected up to 40 m of 0.35 g/t Au and 13 g/t Ag. Aurion personnel collected a total of 78 rock chip samples during reconnaissance mapping which assayed from nil to 5.7 g/t Au (average: 0.59 g/t Au) and nil to 1590 g/t Ag (average: 103 g/t Ag). Aurion has signed a definitive agreement with 2 private individuals giving Aurion the right to acquire 100% in 73 unpatented claims for a total of $150,000 in staged payments over 4 yrs starting at $5,000 and subject to a 2% NSR that can be purchased for $2 million.
Goldlands Gold Project, Nevada - Prospective for disseminated Carlin-style and volcanic hosted gold deposits and located in the Willow Creek mining district, Nye County, Nevada. The property is host to a greater than 150 m by greater than 50 m zone of jasperoid alteration and gold mineralization within Paleozoic carbonates. Twelve samples collected from this area assayed from 0.05 g/t Au to1.48 g/t Au (average: 0.42 g/t Au). Aurion has signed a definitive lease with option to purchase (100%) agreement from a private individual for 2 unpatented claims by making staged cash/lease payments starting at $5,000 on signing (paid) and increasing to $40,000 annually on the 7th anniversary (2019) and subject to a 2% NSR that can be purchased for $2 million.
ALS Chemex, a certified commercial laboratory, performed the analytical testing at their facilities in Vancouver, BC. Gold analyses for rocks were by 30 gm fire assay with an ICP finish with trace elements by ICP. A quality assurance/quality control program is in place from sample collection through laboratory analysis.
Aurion is focused on early stage precious metals exploration in Nevada, and to a lesser extent British Columbia and Mexico. Its strategy is to generate or acquire early stage gold projects and systematically and economically advance them to a stage which will attract potential joint venture partners. Aurion currently has three active joint ventures and $3.0 million cash, 38 million shares issued and outstanding and a low operational burn rate.
Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release.
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
On behalf of the Board,
Mike Basha, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President & CEO
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