VANCOUVER, B.C., Feb. 27, 2018 (GLOBE NEWSWIRE) -- Aurelius Minerals Inc. (TSX.V:AUL) (the “Company” or “Aurelius”) is pleased to announce that drilling has commenced on its Mikwam Property. The minimum 2,500 metre drill program aims to expand the extents of the Company’s Mikwam Deposit and to test 4 new targets on the Property.
The initial hole is located at the Western Target, approximately 2 kilometres along trend and to the west of the Mikwam Deposit (see Figure 1 below). The target is on trend with the Mikwam Deposit and has a similar geophysical and structural signature.
“We are extremely pleased to have commenced drilling on the Mikwam Property. This program is the culmination of a year’s worth of research and investigation of historical data and past programs on the Property, combined with the most recent VTEM survey conducted this past summer with Detour Gold.”, stated Mark N.J. Ashcroft, P.Eng, Aurelius President & CEO. “We are aiming to expand the existing resource and to make new discoveries in this upcoming program.”
The Company recently announced that it received a portion of the extensive high resolution (100 metre line spacing) VTEM survey which Detour commissioned over their Burntbush Property. The Burntbush Property completely surrounds the Mikwam Property. The Mikwam Property contains the only inferred mineral resource of 1,810,000 tonnes grading 2.34 g/t estimated in accordance with NI 43-101 in the region. Covering the Mikwam Deposit provides a unique opportunity to define a signature for exploration for additional gold deposits on the Property.
2018 Exploration Goals
The Company intends to conduct $1.5mm of exploration on its portfolio of assets in Ontario. This will comprise approximately 5,500 metres of diamond drilling on both the Lipton and Mikwam properties.
Mikwam Phase 1 Drilling
The minimum 2,500 metre 2018 Phase 1 drill program has commenced on Mikwam and will test continuity of mineralization on the east and west extensions of the current resource, as well as test the southern anomaly highlighted in the 2017 VTEM survey.
Lipton Phase 2 Drilling
The 2018 Phase 2 drill program will test both the Lipton Gold Zone and five distinct locations at the Lipton North target where prominent regional structures are interpreted to cross-cut the anomaly. We expect to drill approximately 3,000 metres on Lipton during Phase 2.
Mr. Scott Zelligan, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the Abitibi Greenstone belt properties, has reviewed and approved the technical information in this release.
About Aurelius
Aurelius is a premier gold exploration company, holding the Mikwam and Lipton Properties within the prolific northern Abitibi Gold belt in Ontario, Canada. The company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in the Abitibi and other proven mining districts.
AURELIUS MINERALS INC.
Mark N. J. Ashcroft, President & CEO
For further information please contact:
Aurelius Minerals Inc.
Mark N.J. Ashcroft, President & CEO
info@aureliusminerals.com
Tel.: (604) 687-3959
www.aureliusminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Aurelius within the meaning of applicable securities laws, including statements with respect, the anticipated use of proceeds and the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Aurelius’ public filings under Aurelius Minerals Inc.’s SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/03cb212d-84b7-4c7b-a07c-a64998b8973a