Aurion Resources Ltd. Extends High Grade Aamurusko Zone to 1.4 km

ST. JOHN’S, Aug. 01, 2017 - Aurion Resources Ltd. (“Aurion”) (TSX VENTURE:AU) is pleased to report that ongoing prospecting and geological mapping has extended the high grade Aamurusko, gold prospect to more than 1.4 km within a greater than 2.5 km wide Northeast-Southwest trending corridor with multiple new quartz vein (block) trends identified on its 100% owned Risti Project in Northern Finland. The limits of these dimensions are constrained only by overburden cover and thus remain open to the Southwest, West and East.


Highlights:

- 32 new quartz blocks assayed greater than 1 ounce per tonne (opt) Au up to 81.4 opt

- Main Aamurusko trend extended to 1.4 km

- Multiple quartz vein (block) trends identified within a 2.5 km wide East-West corridor

- Drilling to commence on or about September 5.


2017 Sampling

Aurion has received assays for 453 rock samples of predominantly large and angular quartz (+/- tourmaline +/- Fe-Oxide) blocks within the Aamurusko mineralized corridor comprising an area measuring 1.4 km long by 2.5 km wide. These samples assayed from nil to 2520 g/t (81.4 opt) with 32 assaying greater than 31 g/t Au (1 opt), 45 greater than 5 g/t Au and 70 assaying greater than 1.0 g/t Au. Many of these samples contained abundant coarse visible gold. Aamurusko was discovered in October 2016 during reconnaissance prospecting and was initially defined by 133 rock grab samples collected from large and angular quartz (+/- tourmaline +/- Fe-Oxide) blocks within an area measuring 1.05 km long by 0.7 km wide which assayed from nil to 1563.5 g/t Au, including 36 samples which assayed greater than 31 g/t Au. The average grade of all 133 samples was 74.3 g/t Au (See Aurion press release dated Feb 1, 2017).

To date Aurion has received assays from 632 rock samples including the 2016 samples and samples from the June 2017 sampling campaign. The average of these samples is 26.7 g/t Au with 68 assaying greater than 31 g/t Au, 97 assaying greater than 5 g/t Au and 131 assaying greater than 1 g/t Au. Assays from several hundred more rock samples collected throughout the Aamurusko corridor and elsewhere on the Risti property are pending.

The quartz vein blocks range from 0.1 m to >3 m wide, trend NE-SW and are hosted by quartzites and polymictic conglomerates of the Kumpu Group and mafic volcanics of the Sodankyla Group. The conglomerates are interpreted to be unconformably in contact with the mafic volcanics.

The sampling has now extended the main Aamurusko trend to 1.4 km NE-SW. The southern-most sample assayed 2520 g/t Au. Further extension of this trend is hampered by deep overburden cover. The prospecting and mapping thus far has now identified several discreet quartz vein block trends within a greater than 2.5 km wide east to west corridor. Again, the limits of this corridor are constrained by overburden cover.

Please see attached link to maps on our website:
https://aurionresources.com/site/assets/files/1231/news-080117images.pdf.

The samples reported herein are selective grab samples and are not necessarily representative of the real tenor of mineralization within the host rocks, however, they do demonstrate the abundance of high grade gold present within a robust gold mineralized system. To minimize sampling bias (or high-grading) Aurion geologists and prospectors are indiscriminately sampling quartz vein material.


Other Work at Risti

Aurion has completed a detailed ground magnetic survey over the Aamurusko corridor and results are being interpreted. Approximately 500 soil samples have been collected and assays are pending. Following interpretation of the government (Geological Survey of Finland – GTK) Airborne Resistivity Survey, where the mineralization at Aamurusko appears to be associated with resistivity highs, a detailed ground resistivity survey is to commence shortly. These surveys will assist in drill targeting.


Drill Program

A drill contract has been let to North Drilling Oy for an initial Phase I, 2500 m drill program anticipated to begin on or about September 5, 2017.


Summary

The Risti Property comprises an area of approximately 15,000 ha and covers approximately 30 km of interpreted regional unconformities defined by the contact between the Kumpu Group conglomerates and the older Sodankyla Group mafic and ultramafic volcanics, adjacent to the Sirkka Shear Zone, a major regional fault/deformation zone in the CLGB. The setting of the Aamurusko gold mineralization, is analogous to the setting of many of the gold deposits in the Timmins camp of the Abitibi province of Northern Ontario and Quebec. There, more than 72.5 million ounces of gold in several deposits are hosted by conglomerates, mafic volcanics or along unconformities with or between them, adjacent to the regional Porcupine-Destor fault/deformation zone.

Aurion controls 200,000 ha of mineral tenements within the Paleoproterozoic, Central Lapland Greenstone Belt (“CLGB”). The primary focus is on this highly prospective previously un-recognized target concept within the CLGB, of which Aurion controls approximately 70 km along the Sirkka Shear Zone.

Mike Basha, President and CEO of Aurion commented: “We have made significant progress in delineation, expansion and understanding of the Aamurusko system since the discovery in late 2016. Our dedicated team of geologists and prospectors are working very hard in the field to advance the project quickly and efficiently. Going from one vein trend in late 2016 to multiple vein trends within one field campaign is very encouraging.”


Quality Assurance and Quality Control

All samples were delivered to ALS Minerals preparation facility in Sodankyla, Finland where sample preparation work was completed. All analytical work was completed at ALS Minerals facility in Loughrea, Ireland. ALS Minerals is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All samples were analysed for gold using the Au-AA24 procedure (50g fire assay with AAS finish: Detection Limit 0.005 g/t gold; Upper Limit – 10g/t gold). Any samples that returned overlimit values (>10.0g/t gold) were automatically analyzed by gravimetric analysis, Au-GRA22 (50g gravimetric analysis: Detection Limit 0.05g/t gold: Upper Limit 1,000g/t gold). Any samples containing visible gold were analyzed by Au-SCR24 1kg, Screen Fire Assay (Au(0.05-1,000ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 150 micron stainless steel screen. Any material remaining on the screen (>150 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<150 micron) is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (+) 150 and (-) 150 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample.) Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 25 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.


Qualified Person

Mike Basha, P.Eng., P.Geo., Aurion’s President and CEO, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.


Forward-Looking Statement

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



For further information on Aurion Resources please contact:

Mike Basha at (709) 699-8300 or (709) 722-2141 or mbasha@aurionresources.ca; Or

Gord Fernandes, Capital Markets Advisor at (709) 722-4132 or gordon.fernandes@phoenixadvisors.ca

For contact in Europe:
Mathias Forss, MSc, Exploration Manager – Scandinavia, at + 358 50 591 3976 or mathias.forss@geopool.fi

For further information on these projects please visit our website at www.aurionresources.com.


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.