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AURIS MINERALS LIMITED - Corporate Spotlight

Auris Minerals Limited is an ASX-listed mineral explorer with a strategic land-holding in... Auris Minerals Limited is an ASX-listed mineral explorer with a strategic land-holding in the heart of the Bryah Basin in Western Australia. The explorer also recently diversified its exploration portfolio by acquiring the 1 million ounce Sam's Creek gold project in New Zealand.More

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Corporate Spotlight

Auris Minerals Limited is an ASX-listed mineral explorer with a strategic land-holding in the heart of the Bryah Basin in Western Australia. The explorer also recently diversified its exploration portfolio by acquiring the 1 million ounce Sam's Creek gold project in New Zealand.
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Mike Hendriks talks to The Market Herald - Feb

AURIS RECEIVE BUMPER FEATHER CAP RESULTS

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  • Auris Minerals (AUR) has identified more significant gold mineralisation from aircore drilling completed at its Feather Cap Project in WA
  • Drilling focused on the Durack East and Feather Cap prospects with 27 holes drilled at each
  • Auris confirmed significant mineralisation at Durack East and will conduct more drilling to evaluate its gold potential
  • Drilling at Feather Cap targeted anomalous gold mineralisation that extends over 1.8 kilometres and remains open to the north and south
  • Further drilling will be conducted to better understand the area's gold potential and test for southern extensions 


Auris Minerals (AUR) has received results from aircore drilling completed at its Feather Cap Project in Western Australia's Bryah Basin.

All up, 63 holes were drilled at the Feather Cap Project over November and December last year. Drilling aimed to evaluate two regional gold targets, being the Durack East and Feather Cap prospects.

Durack East

Auris drilled 27 holes, for 3133 metres, at the Durack East prospect to test for strike extensions to high-grade gold mineralisation.

The best result came from DEAC0009 which returned four metres at 0.69g/t gold from 141 metres including two metres at 1.26g/t gold from 142 metres.

Pleasingly, drilling at Durack East has identified significant mineralisation along interpreted mineralised trends.

The company plans to conduct further drilling along the 1.7-kilometre trend to evaluate the gold potential of these trends.

Feather Cap

Like Durack East, Auris drilled 27 aircore holes at the Feather Cap prospect. This drilling aimed to infill existing drilling to a 50/100-by-200-metre drill spacing to better evaluate anomalous gold mineralisation that extends over 1.8 kilometres of strike and remains open to the north and south.

Drilling returned five metres at 1.39g/t gold from 30 metres, two metres at 0.34g/t gold and 0.12 per cent copper from 58 metres, and two metres at 1.14g/t gold from 36 metres.

"Some very encouraging outcomes from our drilling at both Feather Cap and Durack East, with these results confirming the presence of significant gold mineralisation along interpreted mineralised trends," Managing Director Mike Hendriks said.

Auris will undertake more drilling at the prospect to test for southern extensions to the mineralisation. RC drilling will also infill around the above significant mineralisation and geology to better understand the gold potential of the area.

The remaining nine holes were completed across three other tenements but there weren't any significant results.

SANDFIRE JV DRILLING UPDATE

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  • Auris Minerals (AUR) has provided an update on exploration at its joint venture projects with Sandfire Resources (SFR)
  • Sandfire is earning a 70 per cent interest in the Morck Well, Cashman and Cheroona projects — all of which are located in WA's Bryah Basin
  • Over 3600 metres of aircore drilling was conducted at Morck Well which yielded pleasing results
  • Now that drilling has recommenced for the year, 550 aircore holes remain to be drilled at the Morck Well JV
  • Additionally, geological interpretation at the Cheroona Project is ongoing and follow-up reverse circulation (RC) drilling is planned to test the Orient and East Orient prospects


Auris Minerals (AUR) has released an update on exploration conducted in the December quarter as part of its joint venture with Sandfire Resources (SFR).

The quarter largely focused on the Morck Well, Cashman and Cheroona projects, which are located in the Bryah Basin of WA and held in a joint venture (JV) with Sandfire.

As part of the joint venture, Sandfire is funding exploration to find 50,000 tonnes of copper and complete a feasibility study. Once these steps have been completed, it will own a 70 per cent interest in the projects.

Morck Well

During the period, a total of 61 holes, for over 3600 metres, were completed within the Morck Well JV. Aircore drilling aimed to provide high-quality lithogeochemical samples and assist with delineating stratigraphy.

The drilling returned pleasing results including 15 metres at 0.46 per cent copper from 55 metres including five metres at 0.89 per cent copper from 65 metres, and five metres at 0.51g/t gold from 15 metres.

Additionally, drilling intersected anomalous lead mineralisation of 50 metres at 0.32 per cent lead from 55 metres.

"Morck Well is an exciting target and the JV is encouraged by the indications from the most recent aircore drilling. Several positive intersections remain open along strike to the east and west, so the JV will be undertaking an infill drill program to further evaluate this potential," Managing Director Mike Hendriks said.

As part of a 100-metre by 800-metre spaced program within the Morck Well Project, 550 aircore holes are yet to be drilled.

Cashman JV

No aircore drilling was completed within the Cashman JV and no further drilling is planned. However, geological interpretation of the project is continuing.

Cheroona JV

The company reinterpreted downhole electromagnetic (DHEM) data from one hole which initially targeted a previously identified anomaly. Unfortunately, no anomalies consistent with bedrock conductors were observed and no further work is planned.

However, geological interpretation at the Cheroona Project is ongoing and the companies will plan follow up reverse circulation (RC) holes to test the Orient and East Orient prospects.

Feather Cap

On December 10, Auris announced completing a 63-hole drilling program at its wholly-owned Feather Cap Project in Western Australia. Results are yet to be reported.

"We also have important exploration programmes underway at both Feather Cap and Forrest, so there is certainly a steady pipeline of work currently being undertaken in the Bryah. I look forward to reporting further updates in due course," Mike concluded.

See Full Article Here. 

VIDEOS

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Auris Minerals Managing Director Mike Hendriks Talks To The Market Herald On AUR's Recent Field Programs - February 







Auris Minerals completes Due Diligence of Sam's Creek Project - November





Auris Minerals to acquire Sams Creek Gold project in NZ - The Market Herald Live News - September 2020





Investor Updates with Auris Minerals and The Market Herald - September 2020


AURIS TO ACQUIRE SAMS CREEK GOLD PROJECT

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Auris Minerals (ASX:AUR) to acquire Sams Creek Gold Project in New Zealand

Mining

ASX:AUR MCAP $46.99M

OceanaGold (ASX:OGC) bolsters Haile gold mine reserves

  • Auris Minerals (AUR) has signed a deal with Sandfire Resources to wholly acquire its stake in the Sams Creek Gold Project in New Zealand
  • As consideration, Auris will issue an initial 102.5 million fully paid ordinary shares to Sandfire at a deemed price of eight cents each
  • A further 32.150,000 Auris options will be issued, exercisable at a price of eight cents until November 30, 2020
  • The project is considered one of the largest undeveloped gold assets in the country, with a mineral resource estimate of one million ounces of gold
  • Auris Minerals (AUR) were suspended on September 23 and last traded at a price of 12 cents per share

Auris Minerals (AUR) has signed a deal with Sandfire Resources to wholly acquire its stake in the Sams Creek Gold Project in New Zealand.


Located at the northern end of the South Island, roughly 20 kilometres south of Takaka, the project is currently held under Sandfire's 100 per cent owned subsidiary, Sams Creek Gold Limited.


Covering a total of approximately 46.5 square kilometres, it consists of two exploration permits: EP 40 338, 20 per cent of which is owned by OceanaGold under a joint venture partnership, and EP 54 454.


According to an announcement dated October 2013, the Sams Creek Project hosts a mineral resource of one million ounces of gold at a grade of 1.54 grams per tonne, as well as a higher-grade zone of 588,000 ounces at 2.43 grams per tonne.


As consideration for the acquisition, Auris will issue a total of 102,500,000 fully paid ordinary shares to Sandfire at a deemed price of $0.08 each, representing a total of $8.2 million, or roughly 20 per cent of Auris's outstanding capital.


A further 32,150,000 options will be issued upon signing of the deal, exercisable at a price of $0.08 until November 30, 2020.

A number of deferred payments will also be made, including $2.5 million in either cash or shares on the second and fourth anniversaries of the acquisition, along with $5 million payable after both 18 and 36 months of post-commercial production.


Mike Hendriks, Chief Operating Officer of Auris Minerals, said it is a transformational acquisition for the company.


"We have been actively seeking a strategic acquisition to complement our existing projects in the Bryah Basin, which are largely funded under joint venture arrangements, and the opportunity to acquire Sams Creek surpassed our expectations.


"Auris has built a robust working relationship with Sandfire through our joint venture activities in the Bryah Basin and we welcome Sandfire to our register as a cornerstone holder in the company and we look forward to further strengthening our partnership," he added.


Shares in Auris Minerals (AUR) were suspended on September 23 and last traded at a price of $0.12 per share.


Read the full article on The Market Herald here: https://themarketherald.com.au/auris-minerals-asxaur-to-acquire-sams-creek-gold-project-in-new-zealand-2020-10-01/

ABOUT AURIS MINERALS

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ABOUT AURIS MINERALS LTD.

Visit Auris Minerals Ltd's Website


Auris Minerals Limited is an ASX-listed mineral explorer with a strategic land-holding in the heart of the Bryah Basin in Western Australia.


Prospective for both copper and gold, the Bryah Basin is a proven volcanic massive sulphide (VMS) province hosting a number of historic and existing operations including the De Grussa, Fortnum and Horseshoe Lights Projects as well as considerable supporting infrastructure.


Auris intends to leverage its extensive exploration package via a clearly defined exploration program designed to deliver the maximum value to the portfolio, while assessing a range of opportunities to capitalise on any exploration success.



WESTGOLD BEGINS DRILLING AT FORREST

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Auris Minerals (ASX:AUR) JV Partner Westgold to begin drilling at Forrest Deposit 


  • Auris Minerals (AUR) has announced that Westgold Resources (WGX) will begin reverse circulation (RC) drilling at the Forrest Deposit in Western Australia 
  • 36 holes will be drilled to infill previous activities with results to provide necessary drill coverage and data as well as increase the confidence in the resource estimation
  • Work will also provide copper results in areas where drilling has previously been assayed for gold only
  • Three additional RC holes have been planned to infill the copper mineralisation 
  • Auris is up 2.44 per cent on the market and shares are trading at 8.4 cents


Auris Minerals (AUR) has announced that Westgold Resources (WGX) will begin reverse circulation (RC) drilling at the Forrest Deposit. 


Forrest lies 130 kilometres north of Meekatharra in the Bryah Basin in Western Australia. Westgold holds 100 per cent of the gold rights and 20 per cent of all other minerals. 


36 RC holes, for 2640 metres, will be drilled to infill previous RC and diamond drilling activities, with results to provide necessary drill coverage and data as well as increase the confidence in the resource estimation. 


Work will also provide copper results in areas where drilling has previously been assayed for gold only. 


Three additional RC holes, for 440 metres, have been planned to infill the copper mineralisation. 


"Auris is working very close to Westgold as they work towards potential development of the gold cap overlying the Forrest copper deposit," Managing Director Mike Hendriks said. 


"The extra drilling and copper assaying to be undertaken will enhance our knowledge and understanding of the nature of the shallow copper mineralisation in the near surface at Forrest," he added. 


Further, an induced polarisation (IP) survey completed in late 2020 which was designed to evaluate roughly 4.5 kilometres of strike of an interpreted copper anomalous trend. 


Targets identified via this survey will be drill tested throughout Q1 2021. 


Auris is up 2.44 per cent on the market and shares are trading at 8.4 cents at 2:30 pm AEDT.


See Full Article Here: 

EXPLORATION WORKS BEGIN IN W.A AND NZ

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Auris Minerals Prepares for busy five months 

Auris Minerals (ASX:AUR) prepares for busy five months

  • Gold and Base Metals explorer Auris Minerals (AUR) has a busy five months ahead at its Bryah Basin tenements and Sam Creek Project areas
  • In the Bryah Basin, the company is currently undertaking an induced polarisation (IP) survey, which will be followed by a drilling program
  • Drilling is also planned at Feather Cap and Morck Well 
  • While over at New Zealand, Sams Creek drilling is expected to commence in November 
  • Auris is well funded for the exploration as it is currently completing a capital raising of $12.9 million
  • On market close, Auris is flat and trading for 9.7 cents per share



Auris Minerals (AUR) has a busy five months ahead at its Bryah Basin tenements and Sam Creek Project areas.

The company is exploring for base metals and gold in the Bryah Basin of Western Australia and has eight projects in the area. The projects include Forrest, Cashman, Cheroona, Doolgunna, Morck Well, Feather Cap, Milgun and Horseshoe Well.

Additionally, Auris recently purchased the Sam Creek Gold Project in New Zealand from Sandfire Resources.

Bryah Basin

Forrest Project

Work in the Forrest Project includes an induced polarisation (IP) survey, which is currently underway at the Forrest Project. The survey aims to find anomalous zones along a 4.5-kilometre strike and is expected to be completed by mid- November.

A diamond drilling program of around 2500 metres is proposed at the Forrest Project for the first quarter of 2021 and is aiming to test the anomalous zones identified from the IP survey.

Feather Cap

An aircore drilling program is planned at Feather Cap, which includes 6000 metres of drilling to test two regional gold targets. The program is planned for the fourth quarter of 2020.

Morck Well

In 2018, Auris signed a farm-in agreement with Sandfire for the Morck Well East and Doolgunna projects.

Under this agreement, Sandfire has the right to earn a 70 per cent interest in the projects once it completes the feasibility study- on a discovery no less than 50,000 tonnes of contained copper.

Currently, 650 aircore holes remain to be drilled and a follow up reverse circulation (RC) drilling will be planed in the December 2020 quarter.

Sams Creek

Over at New Zealand, Sandfire will be commencing a diamond drill programnext month. The drilling program includes a minimum of six diamond holes for approximately 900 metres.

Auris is well funded as it is currently completing a capital raising of $12.9 million.

Chief Operating Officer, Mike Hendriks, is pleased to announce the company's vision for the next five months.

"This is an exciting time for Auris as we have worked hard to establish a portfolio of high-quality gold and copper prospects and we now have a clear line of sight on our near-term exploration programs," he said.

"Auris’ ability to roll out this comprehensive program is supported by the near-term exercising of options which expire on 30 November 2020, providing us with up to $12.9 million in additional funding," he added.

SEE FULL ARTICLE HERE 

AUR'S JV PARTNER WRAPS UP NZ DRILLING

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  • Sandfire Resources (SFR) has completed drilling at the Sam's Creek Gold Project in New Zealand, as Auris Minerals (AUR) prepares to take over the project
  • Auris is currently acquiring Sandfire's interest in the gold project and recently executed a share purchase agreement for Sandfire's subsidiary to sell its shares to Auris
  • As part of the deal, Sandfire funded the latest round a drilling 
  • Drilling was undertaken across two prospects at Sam's Creek to follow up on high-grade intersections and use the results to update the project's mineral resource 


Sandfire Resources (SFR) has completed drilling at the Sam's Creek Gold Project in New Zealand, as Auris Minerals (AUR) prepares to take over the project.


Last year, Auris entered a binding term sheet with Sandfire to acquire the project by purchasing wholly-owned subsidiary Sams Creek Gold.


However, there are still some conditions to be satisfied before the acquisition can be formally completed. These include obtaining regulatory approvals and an extension of an exploration permit which Sandfire owns an 80 per cent interest in under a joint venture with OceanaGold. 


For the permit to be extended, Sandfire is spending $600,000 on exploration before the permit expires on March 26, 2021. 


Sandfire drilled seven diamond holes across the Main Zone Resource and SE Traverse prospects within the Sam's Creek Gold Project.

Of these, three hole, for 538.8 metres, were drilled at the Main Zone Resource to test alternative geological models and continuity of high-grade intersections.


Pleasingly, all three holes intersected the dyke which contained multiple sulphide veins. The downhole dyke thickness ranged from between 52 to 85 metres and had a true thickness of about 50 metres.


Results include three metres at 2.32g/t gold from 137 metres including one metre at 5.46g/t gold from 137 metres, and 28.5 metres at 1.09g/t gold from 91.5 metres including eight metres at 2.09g/t gold from 105 metres.


Once drilling at the Main Zone Resource wrapped up, Sandfire drilled four holes at the SE Traverse prospect to test the potential continuity of previously intersected high-grade mineralisation.


Drill samples from the SE Traverse prospect have been sent for assaying with results expected before the end of this month.


"We are confident that this program will provide our team with the geological understanding needed to update the existing Sam's Creek JORC Resource which remains open at depth and along strike," Auris Minerals Managing Director Mike Hendriks said.


Once all results have been received, Sandfire and Auris will update the Sam's Creek Gold Project's mineral resource estimate which currently sits at one million ounces at 1.54g/t gold.


"With only a small extent of the Sam's Creek strike tested so far, we believe there remains significant exploration upside at the project," Mike concluded.


In relation to the Sam's Creek transaction, Auris has now executed a share purchase agreement with Sandfire for the sale of shares in Sandfire's subsidiary, Sams Creek Gold, to Auris.


See Full Article Here. 

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