Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) unveiled encouraging rock sampling results from its Sombrero copper-gold project in southern Peru on Monday, including an assay of up to 981 grams per ton (g/t) silver.
It came from the firm's first exploration at the newly discovered Ccello project, which is a 2 km by 1.5 km high sulphidation alteration system.
Other highlight results included 72.1 g/t of silver, 64.4 g/t silver and 40.6 g/t, the Canada and Peru-focused exploration group said in a statement.
"This is the first follow-up to our 2017 stream sediment survey in the southern portion of the Sombrero district and it demonstrates the substantial potential that exists within our 120,000 hectare land package," said Michael Henrichsen, the company's chief operating officer (COO) and chief geologist told investors.
"We believe this under explored region of Peru will yield multiple tier one base and precious metal discovery opportunities in the coming months as we continue with our follow-up exploration program."
The group's Sombrero project comprises the North Sombrero and South Sombrero properties, which span more than 120,000 mineral claims and lie 340 kilometers south east of the capital Lima and is hosted in the Andahuaylas-Yauri belt.
Henrichsen added that the group was now looking forward to receiving the initial drill permits for the Sombrero Main project, drill results from the summer drill program at Committee Bay in Nunavut and exploration results from the Homestake Ridge in B.C.'s Golden Triangle.
Auryn has a portfolio of seven projects, including two flagship sites: the Committee Bay high-grade gold project in Nunavut and the Sombrero copper-gold project in southern Peru.
Shares slipped 1.19% in Toronto to C$1.66.
---Updates for share price---
Contact the author at [email protected]