Calgary, Alberta--(Newsfile Corp. - April 28, 2021) - Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is pleased to announce that Dahrouge Geological Consulting ("Dalrouge") has prepared, in accordance with National Instrument 43-101 ("NI 43-101"), a technical report titled "Technical Report on the Stellar Property, British Columbia, Canada" with an effective date of April 6, 2021. Mr. T. Sandberg, P.Geo., and Mr. M. Carter, P.Geo. prepared the report as Qualified Persons. The Technical report will be filed on SEDAR today concurrent with this news release. Aurwest's Stellar porphyry copper project (22,342 ha) is located 25 km southwest of Houston, British Columbia. Highlights are:
- The project is an early exploration stage, polymetallic porphyry copper project underlain by mafic volcanics of the Hazelton Group intruded by stocks and plugs of dioritic composition and felsic dikes that suggests a multi-phase intrusion at depth.
- Historical exploration has outlined large areas of anomalous copper-gold-molybdenum concentrations in stream and soil surveys with rock samples from within these areas returning greater than 1.0% copper along with significant concentrations of gold and molybdenum.
- Mineralized (chalcopyrite-bornite) skarn and hornfels occur in proximity to Bulkley intrusives, typically the causative intrusions for porphyry copper deposits in this area of BC.
- High-grade gold values of up to 37.6 g/t (1.2 oz/t) with associated pathfinder elements and silicification occur over a 1.2 km strike length within an open-ended controlling structure. The mineralization is suggested to be analogous to the Dome Mountain gold deposit (medium grade 10.0-15 g/t gold) located 50 km northeast of the Stellar Property.
- A $584,000, two phase budget to continue exploration of the Property has been recommended.
Mr. Colin Christensen stated, "The recently completed Technical report has independently confirmed our assessment of the porphyry copper potential of the Steller property. The historical exploration indicated widespread copper-molybdenum-gold-silver mineralization that was never incorporated into a working exploration model. With the field season to commence in late June, we are looking forward to getting on the ground to evaluate the targets generated to date and complete the first comprehensive assessment of the porphyry and precious metal potential of the property".
Figure 1: Stellar Project Location Map and Mineral Tenures
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Figure 2: Stellar Project Location Map and Mineral Tenures
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Porphyry Copper Targets:
Historical sampling has outlined two distinct areas of coincident copper-molybdenum mineralization associated with a strong positive, magnetic signature in the northeast portion of the property. The mineralized targets occur over a strike length of approximately 4-5 kms with an intervening 1.5 km long area between the targets for which no historical results are available. The largest mineralized area measures approximately 1.5kms by 1.0 kms hosted in skarnified and hornfelsed andesitic volcanics of the Hazelton Group intruded by stocks and plugs of Late Cretaceous age (probably related to the Bulkley Intrusions) and late-stage aplite dikes. The primary and secondary copper minerology and styles of mineralization are typical of porphyry copper systems. Statistical treatment of the historical rock analytical data from the two areas are set out below.
In the southwest corner of the property, the magnetic data shows the positive magnetic feature hosting the M3 copper discovery continues onto the Steller project, represented by a strong positive, elliptical magnetic feature surrounding a magnetic low. This magnetic signature is like that which hosts the Huckleberry porphyry copper deposit and the M3 copper discovery.
Target #1:
Target #2:
Note:
a) ppm=parts per million, ppb=parts per billion, detection limits; gold=5ppb, molybdenum 1 ppm, silver 0.1 ppm and 1 ppm copper,
b) statistical values are heavily influenced by several samples that returned high copper-molybdenum, gold, and silver values.
Gold Target
In addition to advancing the porphyry copper potential of the property, the program will sample and characterize the controls, styles of mineralization and alteration associated with the previously identified 1.2 km long mineralized structure. The magnetic signature suggests the structure controlling the gold mineralization extends a significant distance beyond the 1.2 kms identified to date. The historical description of the gold mineralization suggests the presence of a high sulphidization gold system.
2021 Exploration Program
The technical report recommends a $584,000 budget to test the copper and gold targets identified to date and to complete a preliminary assessment of the balance of the property. The 2021 program will be managed by Mr. T. Sandberg and is expected to commence on or about mid-June. Logistical preparation for the 2021 program is well advanced.
Phase I of the program will consist of "ground truthing" the historical copper and gold results, describing the style and control on the mineralization and associated alteration. Soil and stream sediment sampling will be completed in areas of widespread anomalous concentrations of copper-molybdenum in soil and stream sediments (showing 51). Soil and stream sediment sampling will be completed in other prospective areas of the property like the area immediately north of the M3 copper discovery in the vicinity of the circular positive magnetic signature.
Phase II of the program is a 28.6 km deep penetrating DCIP geophysical survey covering the two high priority copper targets located in the northeast portion of the property. Quantec has been retained to complete the DCIP geophysical survey.
Cautionary Note:
The historical exploration data and analytical results reported in this news release except for the airborne geophysical survey completed in 2019, (see News Release dated February 25, 2019) were taken from the numerous assessment reports filed with the department of Mines and Energy for British Columbia over the past 50 years and on BC MINFILES. Neither Aurwest nor a qualified person has verified the historical sampling, analytical, and test data contained in this news release. The historical analytical results are from grab sampling on the property reported in this news release are selected samples and are not necessarily indicative of the mineralization hosted on the property.
Qualified Person:
Elmer B. Stewart, MSc. P. Geol., a director is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
On Behalf Of Aurwest resources Corporation
"Colin Christensen"
President and Chief Executive Officer
For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: cchristensen@aurwestresources.com
Website: aurwestresources.com
https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030246
About Aurwest Resources Corporation
Aurwest is a Canadian-based junior mining/exploration company focused on the procurement, exploration and development of gold, silver, and other precious and base metal properties in North America. The Company currently holds Options to earn a 100% interest in the Paradise Lake and Stony Caldera gold properties in Central Newfoundland covering 47,800 hectares, and the 22,342 hectare Stellar copper/gold Project, located approximately 25 kilometers southwest of Houston British Columbia.
Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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