Toronto, ON - Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) is pleased to announce it has received approval from the Government of Nova Scotia for the initial 4,000 metre (“m”) drilling program at the Aureus West project and drilling has commenced. Aurelius has contracted Major Drilling Group International Inc. to execute the surface drilling program as well as the concurrent underground drilling program at the Aureus East project.
Drilling Program Highlights
- 4,000m of drilling at the Aureus West project to take place concurrently with ongoing 6,000m underground program at the Aureus East project;
- Surface drilling at Aureus West aims to extend the depth of previously known gold mineralization at depth and along strike, as well as discover additional auriferous saddles along parallel potentially mineralized trend near surface.
Surface drilling at Aureus West will aim to extend the gold mineralized corridor below the approximate current depth of 300m and drill laterally to confirm the potential for parallel saddle systems. The Aureus West program aims to drill to depths of up to 1km from surface and covering 400m of strike along the main anticline. There is evidence from surface mapping, LIDAR and historical drilling of the presence of additional anticlines, potentially with their own gold bearing saddle veins to the north and south of the main anticline.
Mark N.J. Ashcroft, P.Eng, President and CEO of Aurelius stated, “We want to thank the Government of Nova Scotia for its cooperation and guidance through the approval process. Having received approval to drill from surface, we are excited to begin this initial surface drilling program at our Aureus West project”
Jeremy Niemi, P.Geo. and Vice President, Exploration also commented, “Following our successful logging and sampling campaign of historical core, we are well positioned to initiate surface drilling at Aureus West. Based on the data we have seen to date and our fieldwork; Aureus West demonstrates significant geologic potential and an opportunity to grow our gold resources. Our program aims to extend gold mineralization at depth and near surface.” Mr. Niemi continued, “Recently interpreted LIDAR surveys and past drilling seem to suggest the emergence of a parallel mineralized trend, we are working to better define this exciting new target area as we advance our project.”
Update on Other Aureus Gold Projects
Underground drilling at Aureus East is well underway; the team has completed two holes (764m). Results of our drilling will be made available as sampling and assay data is received. Further to the Company’s press release (September 9, 2020), 21 of 27 previously unsampled and un-assayed drill holes from Aureus West and East are currently at the ALS Geochemistry facility in Moncton, NB. Results will be released to the market as they become available. In addition to the commencement of drilling at Aureus West, the Company is continuing its geological compilation and target evaluation work at the Tangier and Forest Hill projects ahead of future drilling.
Aurelius has developed and implemented compliant precautions and procedures that are in line with guidelines for the Province of Nova Scotia. Protocols were put in place to ensure the safety of our employees and contractors, thereby reducing the potential for community contact and spreading of the virus.
Mr. Jeremy Niemi, P.Geo. and Vice President, Exploration of Aurelius and the Company’s Qualified Person as defined by National Instrument 43-101 has reviewed and approved the technical information in this release.
Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus Gold Properties, including Aureus West, the Tangier Gold Project and the Forest Hill Gold Project located in Nova Scotia and described in detail in the Company’s press release of November 18, 2019.
Aurelius is also focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend.
The Company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in Nova Scotia, the Abitibi and other proven mining districts.
On Behalf of the Board
AURELIUS MINERALS INC.
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Aurelius Minerals Inc.
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Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Aurelius. All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Aurelius within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities, the anticipated benefits of the Acquisition and the development of the Aureus Gold Properties, the future price of gold, the estimation of Mineral Resources, the realization of Mineral Resource estimates, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” , “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” , “believes”, or variations or comparable language of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Aurelius to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Aurelius will operate in the future, including the price of gold, anticipated costs and ability to achieve goals.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information include, among others, gold price volatility, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, delays, suspension and technical challenges associated with projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Aurelius believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Aurelius to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to difficulties in executing exploration programs at the Mikwam, Lipton and Aureus Gold Properties on the Company’s proposed schedules and within its cost and scheduling estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates, the integration of acquisition; risks related to current global financial conditions including market reaction to the coronavirus outbreak; competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of gold; failure of plant, equipment or processes to operate as anticipated; mine development and operating risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness, as well as those factors, risks and uncertainties identified and reported in Aurelius’ public filings under Aurelius’ SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.