MONTREAL, Oct. 24, 2017 (GLOBE NEWSWIRE) -- Auxico Resources Canada Inc. (CSE:AUAG.CN) is pleased to provide initial sampling results of a single trench that yielded a 50m wide mineralized section grading 0.85 g/t Au including 3m of 13.07 g/t Au at the Aguamas property. This trench is located about 100 metres southeast of the Aguamas 2 historical mine, which returned samples of 14.87 g/t Au and 192.22 g/t Ag, and 25 metres northwest of the Aguamas 1 historical mine, where recent sampling returned 34.05 g/t Au and 97.78 g/t Ag. Examination of these past workings and exposed rock outcroppings indicated a series of quartz veins at multiple angles within a silicified volcanic breccia. The Aguamas property is located within the Company’s silver/gold property which contains 25 historic producers and occurrences. These gold and silver occurrences outline two regional trends that transect the property, anchored by past producers and field observations by Auxico’s geologists.
Currently, a backhoe is onsite to open a series of four new trenches between the Aguamas 1 & 2 historic mines. The trenches are being cleaned up and prepared for channel sampling. Preliminary observations show the main Aguamas vein in the new trenches as well as flat veins that were not previously observed. The quartz veins appear to be well mineralized and look identical to the samples taken from the first trench that returned high-grade gold values. A diamond drill program is also being planned over the Aguamas area, as well as other priority target areas on the Property. All of the sampling and exploration has been under the supervision of Mr. Joel Scodnick, Qualified Person. Auxico intends to begin exploration and bulk sampling work on the Property, with the aim of getting a better understanding of the grades of silver and gold, as well as the size of the mineralized area along the two structural trends at Zamora.
In addition, the Company announces the grant, pursuant to its 10% Rolling Stock Options Plan, of options to consultants to purchase a total of 1,100,000 common shares, exercisable in whole or in part, on or before October 22, 2022 at an exercise price of $0.40 per share.
Additional information on Auxico can be found on the Company’s website (www.auxicoresources.com) or on SEDAR (www.sedar.com) under “Auxico Resources Canada Inc.”
Technical information on the Zamora Property can be found in the Company’s Technical Report, dated August 16, 2017 (amended) and written by Joel Scodnick, P.Geo, an independent consultant to the Company.
Qualified Person
This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
« signed »
Mark Billings
President, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) in a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Mexico. The Company has a 100% interest in the Zamora Silver-Gold Property in Sinaloa, Mexico. Auxico will continue to identify and potentially acquire additional property interests and conduct exploration and evaluation of these properties to assess their potential.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.