There’s gold and copper on those Peruvian hills – and dales – a point proven Tuesday by Vancouver-based Auryn Resources Inc. (TSX:AUG), out with results from the first trench at the Fierrazo area at the Sombrero copper-gold project in the South American country’s south end.
A news release out Tuesday explained that Trench 20 is characterized by a continuous broad interval of mineralization that sampled 184 metres of 0.57% copper equivalent, including three higher-grade internal intervals of 20 metres of 1.53% copper equivalent (1.50% copper and 0.04 g/t gold), 24 metres of 0.76% copper equivalent (0.70% copper and 0.09 g/t gold) and 20 metres of 0.95% copper equivalent (0.32% copper and 0.99 g/t gold)
Executive Chair Ivan Bebek said "This trench considerably increases our confidence that Sombrero could develop into a major copper-gold discovery. Trench 20 is the widest trench we have completed due to access to bedrock, and the grade is comparative to major mines along the Las Bambas belt nearby.”
Auryn shares reached noon EDT Tuesday up seven cents, or 4.4%, to $1.67, on volume of 186,000.