Fury Gold Mines Ltd 6-K, filed Sep 29, 2020
Fury Gold Mines Ltd (FURY)
6-K
2020-09-29
For: 2020-09-29
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About this 6-K
Fury Gold Mines Ltd filed this 6-K on September 29, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF
1934
For the month of September 2020
Commission File No.
001-38145
Auryn Resources
Inc.
(Translation of registrant's name into English)
(Translation of registrant's name into English)
Suite 600, 1199 West Hastings
Street
Vancouver, British Columbia, V6E 3T5 Canada
(Address of principal executive office)
Vancouver, British Columbia, V6E 3T5 Canada
(Address of principal executive office)
Indicate by check mark
whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F
Form
20-F [ ] Form
40-F [X]
Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1) [ ]
Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7) [ ]
SUBMITTED
HEREWITH
Exhibits
Press
Release - Auryn
Identifies 12 Drill Targets at Committee Bay and Plans to Expand
the Three Bluffs Resource
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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AURYN RESOURCES INC.
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Date: September 29,
2020
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By:
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/s/ Elizabeth
Senez
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Elizabeth
Senez
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Interim
Chief Financial Officer
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Exhibit 99.1
Auryn Identifies 12 Drill Targets at Committee Bay and Plans to
Expand the Three Bluffs Resource
Vancouver, Canada – September 29, 2020 – Auryn Resources Inc. (TSX: AUG, NYSE
American: AUG) (“Auryn” or the
“Company”) is pleased to announce twelve refined
targets across the Committee Bay gold belt in Nunavut that aim to
leverage the targeting breakthrough along the Kalulik – Aiviq
structural corridor and the Anuri target area, as well as expand
upon the Three Bluffs deposit. The targets are within known
gold-bearing systems and were derived using the technical
team’s critical new understanding of high-grade (+5 g/t gold)
systems across the belt based on geophysical conductivity data
collected since Auryn has worked on the project. The 2019 targeting
breakthrough enabled Auryn to empirically determine the system
drivers that define high-grade across the belt, as presented in
Figure 1.
The
planned 2021 summer drill program will test both target extensions
at the Three Bluffs deposit as well as several regional greenfield
targets (Figures 2-9).
A Message from Ivan Bebek, Executive Chairman &
Director:
“Committee
Bay is one of few exploration opportunities globally with the
potential for multiple world-class gold discoveries. Our confidence
has grown considerably over the past five years as our technical
team’s targeting methods have evolved. We are excited to capitalize on
our extensive work to-date with Fury Gold Mines in the current gold
environment.”
Target Types:
There
are two principal target types that have been derived through the
relationships between the highest conductivity responses and their
association with magnetics data. The gold-bearing systems directing
the targets have been defined either by drilling, gold-bearing
boulder trains, or gold in till anomalies (Figure 2). The two
target types are defined as follows:
●
Iron Formation
Hosted in Sediments: where high conductivity responses are
associated with sulphidation of the host rock and slightly subdued
magnetic responses that are associated with demagnetization of the
iron formation due to hydrothermal alteration.
●
Iron Formation
– Komatiite Couplets: where high conductivity responses and
high magnetic responses are offset from each other. The target in
this case is the gradient where high conductivity and high magnetic
responses are adjacent to each other.
Three Bluffs Deposit Targets:
There
are two approaches with respect to targeting at the Three Bluffs
deposit: 1) Resource expansion where Auryn has interpreted
geophysical data to be associated with potential second order fold
hinges within the anticline that hosts the Three Bluffs deposit,
and 2) Defining new pods of mineralization along sub-parallel fold
hinges to the north of the Three Bluffs deposit.
Resource
expansion targets associated with interpreted second order fold
hinges within the Three Bluffs anticline are presented in Figures 3
& 4. In Figure 3, Target 1 located near the eastern margins of
the deposit is situated below the limit of drilling of the deposit
at a vertical depth of 370 – 530 meters. In Figure 4 the
Antler target is located in the western portion of the deposit
beneath 20 – 25 meters of 2 g/t Au mineralization in drill
holes. The widening of magnetics data associated with high
conductivity values suggests the potential of a second order fold
hinge at a vertical depth between 350 – 600
meters.
Targets
focused on defining new pods of gold mineralization adjacent to the
current resource are presented in Figure 3. Targets 2 & 3 are
associated with interpreted sub-parallel folds to the Three Bluffs
anticline. These targets are characterized by high conductivity
responses situated at 200 – 420 meters and 300 – 530
meters depth beneath the surface. Both targets are undrilled and
are associated with magnetic gradients interpreted as hydrothermal
alteration.
Aiviq – Kalulik Corridor & Anuri Targets:
Along
the Aiviq – Kalulik 20 km structural corridor a high
conductivity fold hinge zone has been defined through the leveling
of the conductivity data by lithology. At the Aiviq target, a high conductivity fold
hinge has been defined that is coincident with high-grade boulder
trains. It is situated four kilometers northeast of Auryn’s
previous drilling, where 12.2 meters of 4.7g/t Au was intercepted
within a sequence of highly silicified and sulphidized iron
formations (Figures 5 & 6) (see September 14, 2017
news release). This target is characterized by a high
conductivity response and a magnetic low that is consistent with an
iron formation that is interpreted to be hydrothermally
altered.
The
Kalulik target is
characterized by an iron formation – komatiite couplet within
a broad synclinal fold hinge where high conductivity values are
offset from magnetic highs. Previous shallow drilling from Auryn
has intercepted 16.8 meters at 0.49 g/t Au and 16.8 meters at 0.45
g/t Au in areas above interpreted hinge zones. The conceptual drill
holes target high conductivity features immediately adjacent to
magnetic highs (Figure 7).
The
Anuri targets (Anuri and
Enigma Lake) are characterized by fold hinges that host iron
formation – komatiite couplets within a broad flat lying fold
(Figures 8 & 9). These targets are supported by the strongest
gold-in-tills response within the Committee Bay gold belt and
numerous high-grade boulder trains. Previous historical drilling of
up to 14.8 meters at 2.66 g/t Au and 13.7 meters of 1.91 g/t Au has
not intercepted the gradient between the high conductivity and
magnetics signatures that represent the primary hinge zone targets.
There is a total of six geophysical targets within the flat lying
fold at Anuri that remain completely untested.
A Message from Michael Henrichsen, COO & Chief
Geologist:
“We
have drilled the desired widths of gold mineralization at Committee
Bay, however targeting high-grade gold through the thin layer of
till cover that obscures the mineralized systems has been a
challenge. We believe our major geophysical breakthrough is
essential for targeting high-grade through the till sequences and
look forward to our 2021 drill program.”
Figure
1: Illustrates the system drivers for high-grade mineralization
within the Committee Bay gold belt. Note that the high-grade
mineralization (in-situ) is associated with the highest
conductivity values as illustrated by the Three Bluffs deposit and
the West Plains and Anuri prospects.
Figure
2: Illustrates the location of newly derived drill targets across
the Committee Bay gold belt.
Figure
3: Illustrates three high conductivity targets associated with the
Three Bluffs deposit. Target 1 is considered a resource expansion;
whereas targets 2 and 3 are aiming to define new pods of
mineralization along interpreted second order folds within the
larger Three Bluffs antiform.
Figure
4: Illustrates the resource expansion Antler target where both
conductivity and magnetics data expand at depth beneath the drilled
mineralization. The expansion of these geophysical signatures is
interpreted as a second order fold hinge zone target.
Figure
5: Illustrates the Aiviq hinge target to the northwest of
Auryn’s 2019 drilling where a strongly altered hydrothermal
system was encountered along the southern limb of a regional
syncline. The hinge zone has not been drilled and is associated
with high-grade boulders up to 27 g/t Au.
Figure
6: Illustrates the Aiviq hinge target to the northwest of
Auryn’s 2019 drilling where a strongly altered hydrothermal
system was encountered along the southern limb of a regional
syncline. The hinge zone is characterized by a magnetic low,
indicating the potential for strong hydrothermal alteration, and a
conductivity high, indicating the potential for
sulphidation.
Figure
7: Illustrates the target at the Kalulik prospect that is
characterized by an iron formation – komatiite couplet.
Previous shallow drilling in areas above the interpreted hinge
zones has intercepted 16.8 meters at 0.49 g/t Au and 16.8 meters of
0.45 g/t Au. The conceptual drill holes target high conductivity
features immediately adjacent to magnetic highs.
Figure
8: Illustrates the targets at the main Anuri prospect that are
characterized by fold hinges that host iron formation –
komatiite couplets within a broad flat lying fold. These targets
are supported by the strongest gold-in-tills response within the
Committee Bay gold belt and numerous high-grade boulder trains.
Previous historical drilling of up to 14.8 meters of 2.66 g/t Au
and 13.7 meters of 1.91g/t Au has not intercepted the targets that
are defined by the gradient between high conductivity and magnetic
signatures.
Figure
9: Illustrates the targets at the Enigma Lake prospect that are
characterized by fold hinges that host iron formation –
komatiite couplets within a broad flat lying fold. These targets
are defined by the gradient between high conductivity and magnetic
responses that have not been drill tested.
Michael Henrichsen (Chief Operating Officer), P.Geo is the QP who
assumes responsibility for the technical contents of this press
release.
ON
BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES
INC.
Ivan Bebek
Executive Chairman and Director
For further information on Auryn Resources, please contact Natasha
Frakes, Manager of Corporate Communications at (778) 729-0600
or info@aurynresources.com.
About Auryn
Auryn
Resources is a technically
driven, well-financed junior exploration company focused on finding
and advancing globally significant precious and base metal
deposits. The company built a portfolio of six projects in Canada
and Peru containing gold, silver and copper resources and
exploration targets. In July 2020, Auryn announced its
intention to spin out its Peruvian assets into two new
companies and acquire Eastmain Resources, creating a Canadian
gold-focused exploration and development company to be renamed
as Fury Gold Mines. Upon closing of the spinout and
acquisition transactions, expected in October 2020,
Fury’s three core assets will comprise of Eau
Claire in Quebec, Committee Bay in Nunavut and Homestake Ridge in
British Columbia. Auryn shareholders, invested prior to the
completion of the transactions, will become shareholders of
Fury and will also receive shares in the two
new Canadian spin out companies, one holding the Sombrero
copper-gold project, and the other holding both the Curibaya
silver-gold project and Huilacollo gold
project.
Committee Bay Drilling QA/QC Disclosure
Intercepts
were calculated using a minimum of a 0.25 g/t Au cut off at
beginning and end of the intercept and allowing for no more than
six consecutive meters of less than 0.25 g/t Au.
RAB Drilling
Analytical
samples were taken using 1/8 of each 5ft (1.52m) interval material
(chips) and sent to ALS Lab in Yellowknife, NWT, Thunder Bay, ON,
and Vancouver, BC for preparation and then to ALS Lab in Vancouver,
BC for analysis. All samples are assayed using 30g nominal weight
fire assay with atomic absorption finish (Au-AA25) in 2017 and part
of 2018 or 50g nominal weight fire assay with atomic absorption
finish (Au-AA26) in 2015, 2016, part of 2018, and 2019 and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).
QA/QC programs using internal standard samples, field and lab
duplicates and blanks indicate good accuracy and precision in a
large majority of standards assayed.
True
widths of mineralization are unknown based on current geometric
understanding of the mineralized intervals.
Core (diamond) Drilling
Analytical
samples were taken by sawing NQ diameter core into equal halves on
site and sent one of the halves to ALS Lab in Vancouver, BC for
preparation and analysis. All samples are assayed using 50g nominal
weight fire assay with gravimetrical finish (Au-GRA22) in year 2016
and with atomic absorption finish (Au-AA26) in 2018 and
multi-element four acid digest ICP-AES/ICP-MS method (ME-MS61).
QA/QC programs using internal standard samples, field and lab
duplicates and blanks indicate good accuracy and precision in a
large majority of standards assayed.
Based
on the estimated geometry of the mineralized zones, the true widths
of the intervals drilled at the Three Bluff deposit are believed to
be at approximately 40-75% of the drilled widths. True widths of
mineralization outside of the Three Bluff deposit are unknown based
on current geometric understanding of the mineralized
intervals.
CB Grabs
Approximately
1-2kg of material was collected for analysis and sent to ALS Lab in
Vancouver, BC for preparation and analysis. All samples are assayed
using 50g nominal weight fire assay with atomic absorption finish
(Au-AA26) and multi-element four acid digest ICP-AES/ICP-MS method
(ME-MS61). QA/QC programs for rock grab samples using internal
standard samples, lab duplicates, standards and blanks indicate
good accuracy and precision in a large majority of standards
assayed. Grab samples are selective in nature and cannot be
consider as representative of the underlying
mineralization.
CB Infill Tills 2017-2019
Samples
(250g) of unweathered till were collected from 20-30cm depth in
frost boils at 100m sample spacing. Pebbles (>1cm) were removed
in the field. Samples were not collected in areas of glaciofluvial
or fluvial reworking. Collected samples were sent to ALS
Laboratories in Vancouver BC for preparation and analysis. All
samples are screened using 600µm screen and analyzed using 50g
nominal weight trace level Au by aqua regia extraction and ICP-MS
finish method (Au-TL44) on a -600µm fraction. QA/QC programs
using internal standard samples, field and lab duplicates,
re-assays, and blanks indicate good overall accuracy and
precision.
CB Tills 2016-2018
Till
samples were collected mostly from active frost boils. Samples from
3 to 5 kg each sent to ALS Lab in Vancouver, BC for preparation and
analysis. All samples are analyzed using Ultra-Trace Au by Cyanide
Extraction and ICP-MS finish method (Au-CN44) and ultra-trace
multi-element aqua regia digest ICP-AES/ICP-MS method (ME-MS41L).
QA/QC programs using internal standard samples, field and lab
duplicates, re-assays, and blanks indicate good accuracy and
precision in a large majority of standards assayed.
Forward Looking Information and Additional Cautionary
Language
This release includes certain statements that may be deemed
“forward-looking statements”. Forward-looking
information is information that includes implied future performance
and/or forecast information including information relating to or
associated with the acquisition and title to mineral concessions.
These statements involve known and unknown risks, uncertainties and
other factors which may cause actual results, performance or
achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Readers should refer to the risks discussed in the
Company’s Annual Information Form and MD&A for the year
ended December 31, 2019 and subsequent continuous disclosure
filings with the Canadian Securities Administrators available
at www.sedar.com and the Company’s registration
statement on Form 40-F filed with the United States Securities and
Exchange Commission and available at www.sec.gov.
The
Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this
release.