High-grade drill results send Aurion Resources shares to 8-month high
In the latest wave of drill result releases from gold miners, Aurion Resources Ltd. (TSXV: AU) today reported that it has intersected a wide zone of gold mineralization at its Risti project in northern Finland. This marks the second time in five months that Aurion has reported high-grade results from exploration in Finland.
Shares of the Newfoundland-based company shot up over 10% to an 8-month high of C$1.52 on the latest announcement.
Today’s drill results signal a positive start for Aurion’s drill program recently started at Risti. The first two of ten planned drill holes at the Aamurusko Northwest (NW) prospect returned 13.31 g/t Au over 19.54 m and 1.84 g/t Au over 31.12 m.
The Aamurusko NW prospect is situated in proximity to the Aamurusko main target area where several high-grade intercepts were previously reported, including 789.10 g/t Au over 2.9 m, 42.40 g/t Au over 4.0 m and 24.50 g/t Au over 4.75 m.
Geologically the Risti project in Finland has been compared by the company to several gold-rich orogenic gold belts around the world like the Timmins camp in Ontario. Aurion has been actively exploring in the Scandinavian nation since 2014.
The company is also backed by Canadian gold miner Kinross Gold Corp. (TSX: K), which participated in Aurion’s recent C$6.5 million financing and now owns 9.98% of its shares.