Impact: Positive
Aurion reported results from four scout holes (1,467m) drilled in the Vuoma area within the SE part of the Aurion-B2 JV property. These holes targeted interpreted structural features along or near the southern domain margin of the Kumpu Basin, about 2.7km south of the Helmi discovery. Highlights results include 28.64 g/t Au over 4.9m from 455.8m depth (VUO23012), including 126 g/t Au over 1.1m, and located 540m from the previous discovery hole of 1.33 g/t Au over 8.3m (read note), and 3.55 g/t Au over 2.8m from 169.8m depth (VUO23010) (Figure 1). Although every hole hit gold mineralization, these scout holes are widely spaced and can not be connected at this time. However, consider we have another blind drill hit located 540m from the discovery hole, suggests potential for gold mineralization of significant grade and scale. Overall, these high-grade results do provide further evidence of significant Au prospectivity along the mainly untested 20km-long southern domain boundary, which extends 15km to its Kaaresselka prospect on the 100%-owned Risti property. Plans are to drill 10,000m in 2024, with Aurion covering its 30% share of its C$7M budget with cash on hand. Various targets will be tested including the Helmi discovery and selected geochemical and geophysical targets elsewhere on the property, including ongoing drilling between Helmi and Rupert Resources 4.2M oz Ikarri discovery.