Drilling To Commence At The Huilacollo Gold Project

VANCOUVER - Auryn Resources Inc. reported plans to commence drilling at its Huilacollo oxide gold project located in southern Peru. The Company completed the environmental assessment process for the drill program in early October and is awaiting the final notice to commence operations from the Peruvian Ministry of Energy and Mines, which is expected by the end October. The initial drill program will include a minimum of 5,000 meters across the Huilacollo project (Figure 1), and will focus on the considerable expansion of the areas around the historic drilling at the top of Andamarca hill. A second phase of drilling will be planned for early in 2018 where continuous surface sampling, spectral analysis, and trenching is ongoing with results pending. Results from this surface program will define additional drill targets across the recently defined 1.8 kilometers of greater than 50 ppb gold in soil anomalies on the southern portion of the project and the newly acquired highly prospective Tacora concession. 

The Huilacollo project represents an exceptional opportunity to expand and discover additional oxide gold mineralization in an area with excellent infrastructure including roads to the property, a power substation within 500m of the property, and water access to the property. Huilacollo has seen some modest historic drilling at the top of Andamarca hill; however no further follow up drilling has occurred and significant intercepts such as 82m of 1.20 g/t Au and 6.5 g/t Ag remain open.

Auryn’s technical teams are planning expansive surface programs on the balance of the Peruvian Portfolio once long-term community agreements are secured. The plan is to undertake a 5,000 to 10,000 meter initial discovery oriented drill program at the Sombrero project and to advance the Banos del Indio and Curibaya projects to a drill ready stage in 2018.  Importantly none of these projects have ever been previously drilled.

Ivan Bebek, Executive Chairman and Director said, “The Peruvian portfolio represents multiple opportunities to make world class gold and copper discoveries. We are very excited to continue our substantial discovery programs through the winter months as we are currently waiting for approximately 25,000 meters of results from our Homestake Ridge and Committee Bay Projects.”