Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Aurion Resources (TSXV: AU) has received assays from nine drill holes at the Aamurusko Northwest (NW) prospect on its wholly owned Risti project in northern Finland, the Canadian-based gold miner announced Monday. Further drilling has returned multiple high-grade, near-surface intercepts: 23.41 g/t Au over 11.10 m, 6.84 g/t Au over 19.00 m and 16.17 g/t Au over 4.00 m.
Shares of Aurion Resources rebounded on the latest results, rising by much as 8% during Monday’s session and returning to a week high of C$1.72 a share. The company’s market capitalization is C$137.7 million.
Drilling has demonstrated continuity of the high-grade mineralized zones Aamurusko NW, and intersecting quartz veins in excess of 5 m wide speaks to the robust nature and potential of this gold-bearing system, the company said.
“We have only scratched the surface of this target but believe we have defined a significant zone of mineralization,” Aurion president and CEO Mike Basha commented. The company has since moved the drill rig to the Aamurusko Main target area, where — according to Basha — it expects to have similar success.
These additional holes follow-up the company’s drill results reported earlier this year, which included 13.31 g/t Au over 19.54 metres and 10.60 g/t Au over 3.40 metres. To date, 84 of the 99 drill holes completed at Aamurusko (Main and NW) have intersected gold mineralization, 28 of which have intercepts of 15 g/t Au or higher.
Aurion believes the prospect at Risti to be geologically similar to several gold-rich orogenic gold belts around the world, such as the Timmins camp in Ontario. The company has been actively exploring in the Scandinavian nation since 2014.
