General Precious Metals
AUX Resources (TSX-V: AUX)(OTC: AUXRF) CEO Ian Slater on High-Grade Gold at Georgia Project & Exploration Plans for 2021
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of AUX Resources, Mr. Ian Slater. Ian, how are you today?
Ian Slater: Oh, I'm great. Thank you, Gerardo.
Gerardo Del Real: I'm sure you're busy. You recently closed a financing with Eric Sprott who now owns over 28% of AUX on a partially diluted basis. You also had some news yesterday. I appreciate you coming on on short notice. Let me read the headline and then I'll let you provide some context there, Ian. The headline reads: AUX Reports Drill Intercepts of 24.3 g/t Gold Over 4.4 Meters and 10.7 g/t Gold Over 7.2 Meters. This, of course, is from the Georgia Project and the relogging and sampling program. Can you give us some details on the numbers? Good looking numbers, good looking headlines, good widths, a lot to like.
Ian Slater: Oh yeah, we are very happy with the results. And if you combine them with this year's in the press release we just put out, you can see a table there where we've compared the historical results with the current results and then the intercepts like this, where historically, they just sampled the obvious high-grade quartz vein and didn't sample the shoulders. And then we went back this winter and sampled the shoulders and it was a real success. So that was two holes that we just talked about. We had, it was two meters of 42 grams and then when we went back in; one of the shoulders was a meter of 24 grams that had never been sampled before. And all combined, it was 4.4 meters of 24 grams. And then the other one was, originally it was one meter of 58 grams, and then both shoulders were mineralized, so it comes up with 7.2 meters of almost 11 grams now, which is a far more mineable width and really exciting, and it shows a lot of promise for the project.
Gerardo Del Real: Absolutely. You made a reference in the release about the opportunity to fill in some of the gaps in the geological model and you wanting to improve the understanding of the style of mineralization at Georgia. Where does that stand right now with the data that you have on hand?
Ian Slater: Well, that's almost as important as these high-grade, wide intercepts, is the analysis of all those historical drill holes and really understanding how the mineralization works there. So we've learned a lot. We have our own 3,600 meters of drilling and then analyzing the 5,000 meters of drilling. So we're in a lot better position for next summer to design next summer's drill program.
Gerardo Del Real: Excellent. We didn't get an opportunity to really dig into the rest of the portfolio for AUX the last time that you and I chatted. And I think the projects deserve a mention and a brief overview. Can you describe those, for those not familiar?
Ian Slater: Sure. This is just one project at AUX. We actually have a huge land position in the Stewart Camp and half a dozen other projects and quite a few old historic mines, too, that need work. So we've got a big program for next summer to go and look at these other old historic mines near Stewart that are on our claims. But what we're most excited about was we just got our results back from a project we bought last summer called Silver Crown, and this project is just north of Stewart. It has, Mountain Boy was drilling the right on the border to the East last summer. It's their main project. And both Ascot and Pretium were drilling right on the border to the west, and it really looks like everybody's onto a silver district there.
And, well, we did surface work last year. We mapped and sampled high-grade quartz veins over one and a half kilometers and every 40 meters along that, we channel sampled with a rock saw. And we've just got those results back, so we should be releasing them early next week. But visually, there was lots of sphalerite and galena and it looks exciting. So I can't wait to release those and then we're definitely going to be drilling Silver Crown next summer.
Gerardo Del Real: Well, it sounds like you and I will be chatting next week then, Ian.
Ian Slater: Absolutely.
Gerardo Del Real: Good. And listen, just to kind of set the table for the remainder of the year, you and I talked a bit off air about the results that we're hoping to see next week, but also future drilling later this year and preparing for those future programs. What does that look like priority-wise given, the multiple projects that you have in the portfolio?
Ian Slater: Well, we're definitely going to be drilling along strike at the Georgia Project. And all the drilling we've done here, the historical drilling and our drilling, it's all north of the old Georgia River Mine but there's no drilling south of it. So we’re definitely going to explore that to the south. What our new drilling at Georgia River Mine also showed was there's a parallel system that we hit with some of our longer holes. So we definitely need to explore that and if we do have a parallel system here to the Georgia River Mine, the southwest vein that goes through the Georgia River Mine and where this drilling is, that'd be really exciting.
So we’re definitely going to drill south and north, and step out to the east and test that new system at Georgia River. And then we're going to be drilling Silver Crown, and we're going to be doing surface work on our other projects to identify other drill targets there. So it should be a really exciting summer with both drilling gold and silver.
Gerardo Del Real: Lots to look forward to. Ian, thank you for coming on. And again, it sounds like we'll be chatting next week to get news on the results that you have pending that you're putting together.
Ian Slater: Yes, absolutely.
Gerardo Del Real: Fantastic. Thank you so much for your time. Appreciate it.
Ian Slater: Thanks, Gerardo.
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