Auryn Drills Gold-Bearing Hydrothermal System at Committee Bay

ID: 1543997
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(PresseBox) - Auryn Resources Inc. (TSX: AUG, NYSE AMERICAN: AUG, ?Auryn? or the ?Company? - http://www.commodity-tv.net/c/search_adv/?v=298204) is pleased to announce that the company drilled a 1.5 kilometer gold-bearing hydrothermal system at the Aiviq target. A total of 16 diamond drill holes (4,996 meters) consistently intersected the target structure (Figure 2), with the best intercept being 13.5 meters of 1.54 g/t gold (including 6 meters of 3.3 g/t gold) in hole 12 at the southwest margin of the drilling program, leaving the system open in that direction (Figures 3 ? 4).

Highlights:

Discovery of the gold-bearing hydrothermal system at the Aiviq and Kalulik prospects

Identifying that the system strengthens towards the southwest

Sampling additional high-grade rock at Aiviq and Kalulik

Identifying additional targets within the 20 km shear zone, hosting the Aiviq Shamrock and Kalulik prospects.

Executive Chairman and Director, Ivan Bebek:


?As the company continues to advance Committee Bay exploration plans, several catalysts are pending including Homestake Ridge drill results, Gibson MacQuoid surface results and continuous news from the company?s highly active Sombrero project, where major copper-gold skarn and porphyry targets have recently been identified.?

Auryn also drilled 22 Rotary Air Blast (RAB) holes (4,135 meters) at the Kalulik and Aarluk prospects (Figures 1? 2), which identified two additional gold-bearing hydrothermal systems that have geological characteristics consistent with the Three Bluffs deposit. This demonstrates Auryn?s improved ability to target under till cover. The Kalulik and newly identified Shamrock prospects are south of Aiviq on the same shear zone.

Aiviq Summary:

The majority of the drill holes intersected 20 ? 40 meter widths of intense quartz veining and sulphidized banded iron formations (Figures 5 ? 9), which Auryn believes demonstrates the potential for a significant discovery along this regional fault zone.



Due to the strength of the hydrothermal system observed along this regional fault zone, Auryn has further evaluated the high-resolution tills collected in 2017 and 2018 and has identified two high-priority drill targets along the Aiviq regional fault zone.

In addition to drilling, Auryn sampled a number of high-grade boulders down ice of the Aiviq prospect, further demonstrating the potential of this regional fault zone (Figure 3).prospect is supported by high-grade boulders sampled historically with highlights including 12.89 and 7.61 g/t gold.

Kalulik Summary:

The Kalulik prospect is situated approximately 15 kilometers southwest of Aiviq along the same regional gold-bearing fault zone.ts include 21.34 meters at 0.4 g/t gold and 16.76 meters at 0.45 g/t gold. In addition, the identification of two separate gold-bearing structures speaks to the potential of the regional fault zone linking Aiviq and Kalulik.

Aarluk Summary:

At the Aarluk prospect the best intercept was 3.05 meters of 3.39 g/t gold, which was encountered in a weakly sulphidized banded iron formation.

C.O.O. and Chief Geologist, Michael Henrichsen:

?We feel that we are in a productive gold system at Aiviq due to the strong alteration and fluid flow observed along this regional fault zone.

?In addition, the identification of three separate gold-bearing hydrothermal systems under cover at the Kalulik and Aiviq prospects indicate to us that our targeting process is leading us in the right direction. We drilled rocks that we believe have the necessary geologic characteristics to host a significant gold deposit.

About Auryn

Auryn Resources is a technically driven junior mining exploration company focused on delivering shareholder value through project acquisition and development. The Company?s management team is highly experienced with an impressive track record of success and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through Corisur Peru SAC.

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, 2017 and subsequent continuous disclosure filings with the Canadian Securities Administrators available atwww.sedar.comwww.sec.gov.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Committee Bay RAB Drilling QA/QC Disclosure

CB DDH 2018:

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.

Analytical samples were taken by sawing NQ diameter core into equal halves on site and sent one of the halves to ALS Lab in Yellowknife, NWT for preparation and then to ALS Lab in Vancouver, BC for 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 using internal standard samples, field and lab duplicates and blanks indicate good accuracy. Due to the nuggety nature of mineralization encountered, the Company will be running additional analysis on duplicate samples to better understand the analytical precision.

True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals

CB RAB 2018:

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 four consecutive samples (six meters) of less than 0.25 g/t Au.

Analytical samples were taken using 1/8 of each 5ft (1.52m) interval material (chips) and sent to ALS Lab in Yellowknife, NWT 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) 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 adequate precision in a large majority of standards assayed.

True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.

CB Grabs 2018:

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 2018 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.



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Date: 11/14/2018 - 02:18
Language: English
News-ID 1543997
Character count: 2498
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Firma: Swiss Resource Capital AG
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Stadt: Vancouver, British Columbia
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