Canadian junior expands in Peru

Goldcorp-backed Auryn Resources Inc. (TSE:AUG) announced today that it is close to becoming a big player in the Andahuaylas-Yauri belt in southern Peru.

The reason behind such assertion is the company’s recent addition of 60,000 hectares to its Sombrero project, which means that now its land position is greater than 100,000 hectares. The decision to stack was taken after the company received the results of a regional stream sediment program it conducted in 2017.

“The areas staked represent both epithermal gold-silver and copper-gold skarn/porphyry targets,” management said in a press release.

Now that the stacking process is finished, the Vancouver-based firm said it will conduct systematic follow-up work consisting of high-density stream sediment sampling, reconnaissance rock sampling, mapping, trenching and geophysical programs.

“This is a rare opportunity in the region as we don’t believe there has been any systematic exploration in this area of Peru due to the perceived nature of an overlying post-mineralization volcanic cover. Our field observations resulted in the identification of several erosional windows through the volcanic cover that exhibit epithermal, porphyry and skarn styles of mineralization. More importantly, the overlying volcanic cover rock has been observed to host precious metal style epithermal mineralization,” Auryn’s COO and Chief Geologist, Michael Henrichsen, said in the media statement.