Aurwest Initiates Exploration Program on Stellar Porphyry Copper-Gold Property
Calgary, July 13, 2021 - Aurwest Resources Corp. (CSE: AWR) ("Aurwest" or the "Company") is pleased to announce the commencement of its 2021 exploration program on its Stellar porphyry copper/gold project (22,342 ha), located approximately 25 km southwest of Houston, British Columbia.
2021 Exploration Program Objectives:
- The 2021 field program is budgeted at $600,000 consisting of mapping, sampling, stream sediment sampling and a deep penetrating Induced Polarization geophysical survey.
- The program consists of a regional evaluation of the western portion of the project which is essentially unexplored and detailed exploration of the two porphyry targets.
- The focus of the program is two porphyry copper targets, which contingent on results of the Induced Polarization survey could identify potential drilling targets.
- It is expected that at the end of the 2021 program an updated independent Technical Report will be prepared in accordance with National Instrument 43-101 ("NI43-101) for the property.
Mr. Colin Christensen stated, "While Aurwest's primary focus is its gold projects in Newfoundland, the widespread copper-molybdenum-gold-silver mineralization, intrusive activity and alteration reported in the historical data provides several compelling reasons to complete a systematic exploration program on the Stellar property. The historical exploration indicates the mineralogy, styles of mineralization, alteration and intrusive activity over large areas indicative of a porphyry system, yet the data appears never to have been incorporated into a porphyry exploration model."
Figure 1: Stellar Project Location Map
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Figure 2: Steller Project Target Location Map
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Porphyry Copper Target:
A summary of the historical rock sampling and exploration data was set out in a news release dated March 22, 2021. The 2021 program will focus on a five km long area located in the northeast portion of the project that hosts two porphyry copper targets. Detailed mapping of the lithologies, mineralogy, style of mineralization, associated alteration patterns and extent of the copper mineralization will be completed and incorporated into Aurwest's exploration model. This work will be followed by a 25km, Induced Polarization (chargeability/resistivity) survey to map the chargeability and resistivity signature of the five km long target and the two zone of porphyry style mineralization.
Regional Exploration:
The western, central, and southern portions of the project are essentially unexplored. The 2018 airborne magnetic survey identified several signatures within these areas that exhibit a correlation with intrusives of the Bulkley intrusive suite, the main host for porphyry copper deposits in central BC. Stream sediment and soil sampling, mapping and prospecting are planned with emphasis on the area surrounding the Bulkley intrusives. Contingent on geochemical results, and time of year, more detailed mapping and prospecting of anomalous areas is contemplated.
Interpretation:
The geology and mineralization at the Huckleberry porphyry copper deposit forms the exploration model for the Steller project. The Huckleberry deposit lies within a strong positive magnetic signature due to magnetite alteration of the host rocks surrounding an intrusive stock/plug.
The two areas of copper-molybdenum-gold-silver mineralization located in the northeast portion of the property are located within a strong positive magnetic signature. This magnetic signature is most likely attributed to the hornfelsing and or skarnification of the volcanic host rock attributed to intrusive stocks and dikes that have been mapped within both areas. While ground truthing of the historical data is required, the metal assemblage, intrusive activity and reported styles of mineralization all support a porphyry copper exploration model.
Cautionary Note:
The historical exploration data and analytical results reported in this news release, except for the airborne geophysical survey completed in 2019, (see News Release dated February 25, 2019) were taken from the numerous assessment reports filed with the department of Mines and Energy for British Columbia over the past 50 years and on BC MINFILES. Neither Aurwest nor a qualified person has verified the historical sampling, analytical, and test data contained in this news release. The historical analytical results are from grab sampling on the property reported in this news release are selected samples and are not necessarily indicative of the mineralization hosted on the property.
Qualified Person:
Elmer B. Stewart, MSc. P. Geol., is the Company's independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
On Behalf Of Aurwest Resources Corp.
"Colin Christensen"
President and Chief Executive Officer
For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: cchristensen@aurwestresources.com
Website: aurwestresources.com
About Aurwest Resources Corporation
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada. The Company currently has three Option Agreements to earn a 100% interest in Paradise Lake and Stony Caldera projects covering a 47,800-hectare (478 sq kms) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company also currently holds a 100% interest in the 22,342 hectare Stellar copper/gold project, located approximately 25 kilometers southwest of Houston British Columbia.
Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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