Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
Aurion Resources Ltd. (TSX-V:AU) has acquired two new gold properties in Nevada, both of which are prospective for Carlin-type gold deposits, the Newfoundland-based precious metals explorer announced on Monday.
The Bull property is located in east-central Nevada, approximately 30 km southeast of Eureka, on the southern extension of the prolific Battle Mountain-Eureka Trend, approximately 6 km east of Midway Gold’s Pan gold deposit.
The property hosts several small outcrops of gold-bearing jasperoid in a shallow pediment at the contact between the Joanna Limestone and Chainman Shale. In 1992, BHP drilled 7 shallow reverse circulation holes. The best intercept was 3 m of 2.05 g/t Au within a 9.15 m intercept grading 1.15 g/t Au starting at approximately 15 m below the
surface.
The Quinn property is located in Nye County, southeastern Nevada, approximately 150 km SE of Eureka. The property hosts several gold-bearing oxidized jasperoids within silty carbonate rocks of
the Pogonip Group.
On the Bull property, Aurion has signed an agreement with Nevada-based Genesis Gold Corp. whereby Aurion has an option to purchase a 100% interest in 16 unpatented claims, subject to a 2% NSR. Aurion also staked an additional 283 claims covering prospective geology surrounding these claims.
On the Quinn property, Aurion has an option to purchase a
100% interest in 10 unpatented claims, subject to a 2% NSR. Aurion also staked an additional 248 claims covering prospective geology surrounding these claims.
“We are very pleased to have acquired these early stage, high quality exploration opportunities in one of the worlds most well-endowed and gold mining friendly jurisdictions,” said Mike Basha, President and CEO of Aurion. “Moreover, this adds significantly to our property portfolio and augments the Logan Pass Property acquisition in southeastern
Nevada. We intend to complete compilation, initial geological mapping and geochemical sampling to advance these to the joint venture stage asap.”
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