Vancouver, British Columbia--(Newsfile Corp. - November 21, 2024) - Auric Minerals Corp. (CSE: AUMC) ("Auric" or the "Company") is pleased to announce the commencement of 2024 exploration work program (the "Program") on its Goodeye Property (the "Property") located in British Columbia, Canada. The field team will mobilize to the Property during this week around November 21, 2024.
Program Description
Prospecting, Mapping, Soil and Rock Sampling, and Geophysical Surveys
The work program will partly cover the following recommended work program in the Technical Report on the Property and targets identified during 2021 exploration work on the Property.
Contact Zone Between Intrusives and the Country Rocks: The 2021 sampling results show the contact zone between Carboniferous (CS) and Sheppard Intrusion (Esg) is more promising in terms of higher silver and gold values. This contact is interpreted as a roof pendent like structure where unit Cs is surrounded by Esg intrusion. Similarly, the contact zone between Esg and Lower Jurassic Elise Formation (LJev) also shows relatively higher silver and gold values. It is therefore recommended that all other contact zones between Esg and the country rocks should be followed up by more prospecting and sampling.
Quartz Veins with Sheppard Creek Intrusion: The 1979 and 2021 sampling results also indicate higher gold values in samples collected from quartz veins within the Sheppard Intrusion which needs a follow up prospecting and sampling.
Structural Targets: Target areas 1 and 2 as marked on Figure 1 present and interesting target zone for further prospecting, mapping and sampling. The area is marked by northwest trending Wanita fault which is an overthrust bringing Carboniferous CS on to Elise Formation and Marron Formation. The Cs is intruded by Esg from all sides making structural triangle bounded to the west by Violin Lake Fault and to the east by Wanita Thrust.
Geophysical Survey Extension: The geophysical survey Grid # 1 shows extension of magnetic features and VLF conductors are extending to the north, east and west. Similarly, the survey Grid #2 has VLF conductors and magnetic anomalies open in all directions. It is recommended to extend both the survey grids.
The field sampling will be a combination of soil and rock chip sampling depending upon the weather conditions and snow cover.
Qualified Person
Afzaal Pirzada, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
"Dimitri Lakutin"
Dimitri Lakutin
Director(647) 243-7402
auricminerals@gmail.com
Figure 1: Structural targets on the Property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10953/230936_auricmineralsfig1.jpg
About the Company
Auric is a mineral exploration company based in Oakville, Ontario and holds options over the Goodeye Property located in British Columbia, Canada.
For more information, investors should review the Company's filings that are available at www.sedarplus.ca.
About the Property
The Property consists of three contiguous Mineral Claims covering approximately 1,906.95 hectares located in the Trail Creek Mining Division of British Columbia. The Property can be accessed by following a logging road from Rossland by travelling south towards the USA border. The claims cover an area of over 19 square kilometres at the headwaters of Goodeve Creek; 10 air kilometres southeast of the town of Rossland, B.C. and 16 road kilometres north of Northport, Washington, USA. Geologically, the Property area comprises stratified volcanic and sedimentary rocks of Late Paleozoic to Eocene age. Locally, the Property claims are underlain by rocks of Carboniferous age Mount Roberts Formation, Elise Formation, and Sheppard Intrusion. The Company carried out an exploration work program in 2021 which generated several exploration targets for a follow up work program.
Forward-Looking Statements
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's intentions, plans and future actions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
