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Auryn Resources finds high-grade gold and silver mineralization at its Peruvian Curibaya project

Last updated: 12:16 28 Oct 2019 EDT, First published: 08:32 28 Oct 2019 EDT

Auryn Resources Inc's Curibaya project
The company's technical team believes there are both precious metal and intermediate sulphidation epithermal and copper porphyry targets

Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) announced Monday that initial rock sampling results from its recently-acquired Sambalay and Salvador concessions at its 11,000-hectare Curibaya project in southern Peru revealed high-grade mineralization of gold and silver. 

The results, which were pulled from a 1.5 kilometer by 3 kilometer area, included more than 20 samples with more than 200 grams of silver per ton (g/t) and multiple results above 15,000 g/t silver and as much as 7.67 g/t gold.

"The Curibaya project sits in the world-class Southern Peru copper porphyry belt and is adjacent to the Incapuquio fault zone that is a control on the copper porphyry and epithermal deposits in the region,” COO and Chief Geologist Michael Henrichsen said in a statement. “The observed high-grade precious metal mineralization makes for a compelling intermediate sulphidation epithermal target in addition to the strong potential for porphyry and skarn mineralization at shallow depths.

READ: Auryn Resources finds gold at Committee Bay, highlights geophysical targeting advancements

The company conducted a first-pass reconnaissance sampling program in order to get a better picture of the spatial distribution of the high-grade mineralization and confirm historical rock sampling results.

Testing the area, which consisted of a quartz/sericite/pyrite alteration system, showed a mineralization that averages 72.9 g/t silver and 0.19 g/t gold.

We have been on this project for 10 days, and have confirmed and added to the widespread bonanza silver grades and high grade gold over a large foot print," Chairman Ivan Bebek told Proactive in an email. "Although its early days on a world class mining belt the project has significant potential for silver, gold and porphyry type deposits.

The Vancouver-based company acquired the Sambalay and Salvador concessions in August and said its technical team believes there are both precious metal and intermediate sulphidation epithermal and copper porphyry targets.

Henrichsen said the company is ready to take the next steps at the site.

"We look forward to rapidly advancing the project to drill-stage through geophysical surveys and continued mapping as well as receiving additional surface results,” Henrichsen said.

—Updated to include comment from Chairman Ivan Bebek—

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

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