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Calgary, Alberta--(Newsfile Corp. - March 22, 2021) - Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is pleased to provide an update on its Stellar porphyry copper project (23,600 ha) located 25 km southwest of Houston, British Columbia. Historical exploration concentrated in the northeastern portion of the property and outlined two distinct areas of widespread porphyry copper style mineralization (see News release dated July 29, 2020)
An independent Technical Report prepared in accordance with National Instrument 43-101 ("NI43-101) for the property is expected to be completed by the end of March 2021.
The 2021 field program is estimated to cost in the order of $400,000 consisting of mapping, sampling, silt sediment sampling and a deep penetrating geophysical survey.
The 2021 program will focus on the two porphyry copper targets as well as the strike extension to the north of the M3 Stars copper discovery.
Re-processing and modelling of the 2018 airborne magnetic survey are expected to be completed prior to commencing the 2021 field program.
Mr. Colin Christensen stated, "while Aurwest's recent activity has focused primarily on our gold project in Newfoundland, our Stellar porphyry copper gold property in central British Columbia continues to impress us with additional new technical interpretation. The compilation of the historical data combined with re-interpretation of the 2018 airborne magnetic survey using the Huckleberry deposit as an exploration model has significantly increased our understanding of the project potential to host copper-molybdenum porphyry style mineralization. The historical exploration has provided a considerable amount of useful information, indicating widespread copper-molybdenum-gold-silver mineralization that was never incorporated into a working exploration model".
Figure 1: Stellar Project Location Map
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Figure 2: Steller Project Target Location Map
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Porphyry Copper Target:
Historical sampling has outlined two distinct areas of coincident copper-molybdenum mineralization located within strong positive magnetic signatures. These targets occur over a strike length of approximately 4-5 kms with a 1.5 km long area between the targets of barren rock. The largest mineralized area measures approximately 1.5kms by 1.0 kms hosted in skarnified and hornfelsed volcanics. The targets are underlain by andesitic to rhyolitic volcanics of the Lower Jurassic Telkwa Formation intruded by stocks and plugs of granodiorite, quartz diorite, quartz monzonite and quartz feldspar porphyry of Late Cretaceous age (probably related to the Bulkley Intrusions) and late-stage aplite dikes. Copper mineralization occurs in quartz veins, stringers, fractures, disseminations, and patches of chalcopyrite, bornite, malachite, azurite, and minor chalcocite in volcanics and in fractured fine to medium-grained quartz diorite. Statistical treatment of the historical rock analytical data from the two areas are set out below.
# of Samples
# of Samples
ppm=parts per million, ppb=parts per billion, detection limits; gold=5ppb, molybdenum 1 ppm, silver 0.1 ppm and 1 ppm copper,
statistical values are heavily influenced by several samples that returned high copper-molybdenum, gold and silver values.
The geology and mineralization at the Huckleberry porphyry copper deposit and the M3 Stars discovery forms the exploration model for the Steller project. Both Huckleberry and M3 lie within a strong positive magnetic signature due to magnetite alteration of the host rocks surrounding the intrusives stocks/plugs
The historical data and 2018 and geophysical data from the Steller project suggest two areas of copper-molybdenum-gold-silver mineralization located within a strong positive magnetic signature. Th magnetic signature is most likely attributed to the hornfelsing and or skarnification of the volcanic host rock as reported in several historical assessment reports filed on the property. The hornfelsing and skarnification are attributed to intrusive stocks and dikes that have been mapped within both areas. While ground truthing of the historical data is required, the metal assemblage, intrusive activity and reported styles of mineralization all support a porphyry copper exploration model.
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.
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
President and Chief Executive Officer
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 a 100% interest in the Stellar copper/gold Project, located approximately 25 kilometers southwest of Houston British Columbia. The Stellar project consists of the Stellar claims (3,174 hectares) and the Buckley claims (15,317 hectares).
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77959