Aurion Resources Ltd.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
120 Torbay Road, Suite W220 St. John's, NL Canada A1A 2G8 |
| Tel No.： | 416-371-1325 |
| Web Site： | www.aurionresources.com |
| E-mail： | info@aurionresources.ca |
| Contact Person： | Mark Santarossa |
| Position： | VP Corporate Development |
| Traded Market： | TSX-V |
| Traded Symbol： | AU |
| Outstanding Shares： | ~132.5 M |
| 52 Week High： | $ 0.82 |
| 52 Week Low： | $ 0.39 |
| Present Price： | Click Here |
Aurion Resources is a well-financed Canadian exploration company. Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by its experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its fully owned Risti project, as well as advancing its joint venture properties with B2Gold and Kinross in Finland.
Discovering the Next Major Gold Camp
Emerging Gold Camp
- District scale land package
- Prospective geology
- Multiple new discoveries
Tier 1 Jurisdiction
- Finland consistently ranks high for mining investment
- Excellent infrastructure and access
- Straight forward permitting process
Multiple Value Drivers
- Joint Ventures with B2Gold and Kinross
- New discoveries on wholly owned properties
Positioned to Execute
- Experienced management and board
- Aligned with shareholders
- Well-funded
Value from Multiple Opportunities
B2Gold Joint Venture
- Helmi discovery: 2.05 g/t Au over 77.5 m
- Multiple gold prospects
- Next to the 4+ M ounces Ikkari deposit by Rupert Resources
Risti
- 100% ownership
- High-grade, near surface discoveries
- Multiple gold prospects
Kinross Joint Venture – Launi East Property
- Numerous gold showings and prospects
- Earn in: US$10M for 70%
Strategic Resources Inc.
- Own 1.33 M shares of TSXV: SR
- Vanadium development projects
- Part of Lumina Group
B2Gold Joint Venture
Multiple discoveries
- JV: B2Gold 70%, Aurion 30%; B2Gold is the operator
- Large land package ~293 sq. km
- Multiple discoveries:
- Helmi
- 2.05 g/t Au over 77.50 m; 2.44 g/t Au over 43.45 m; 1.44 g/t Au over 67.20 m
- Kutuvuoma
- 16.47 g/t Au over 11.0 m; 11.37 g/t Au over 13.30 m; 7.20 g/t Au over 19.40 m
- Vuoma
- 28.64 g/t Au over 4.90 m; 1.33 g/t Au over 8.30 m; 3.55 g/t Au over 2.80 m
- Sinermä
- 0.54 g/t Au over 40.2 m; 1.07 g/t Au over 42.4 m (Trench)
- Kettukuusikko
- 4.33 g/t Au over 20.4 m; 1.25 g/t Au over 31.4 m
- Tuongankuusikko
- 1.18 g/t Au + 1.73% Cu over 17.50 m
- 2024 budget C$7.0 M
- ~10,000 m of drilling program
Helmi Discovery:
- Discovered in 2021, located approximately 1 km west of Rupert Resources' 4+ Moz Ikkari deposit with similar geological features
- Gold mineralization intersected along 2 km strike and extend to at least 500 m depth
- Highlight intercepts:
- 2.05 g/t Au over 77.50 m
- 2.44 g/t Au over 43.45 m
- 1.44 g/t Au over 67.20 m
- 1.84 g/t Au over 52.40 m
- 0.82 g/t Au over 108.10 m
- 1.73 g/t Au over 44.95 m
- 1.11 g/t Au over 45.80 m
- 1.46 g/t Au over 33.00 m
- Prospective geological sequence extends 8 km within the JV property
Vuoma Discovery:
- Discovered in 2023 (Press release Aug 21, 2023), located approximately 2.7 km south of Helmi
- Mineralization proximal to mainly untested 20+ km southern domain boundary
- 15 km along strike from the Kaaresselkä Prospect (Aurion 100%)
All scout holes intersected gold at Vuoma
- 28.64 g/t Au over 4.90 m including 126.00 g/t Au over 1.10 m (VUO23012), located 540 m SE of hole VUO23007 (1.33 g/t Au over 8.30 m, Press release August 21, 2023)
- 3.55 g/t Au over 2.80 m (VUO23010)
Budget and exploration plan for 2024
The planned JV budget for 2024 is CAN$7 million. Aurion is fully financed to contribute its 30% share of the planned expenditure.
The exploration plans include approximately 10,000 m of diamond core drilling in various target areas including the Helmi Discovery, as well as testing selected geochemical and geophysical targets elsewhere within the JV property that covers tens of kilometers of the highly prospective major crustal scale structure. Other planned activities include rotary air blast drilling, base of till sampling and geophysical surveys.
The ongoing drilling program will test several targets including the structural trend between Helmi and Rupert Resources' 4+ Moz Ikkari Discovery.
(See press release January 16, 2024)
Risti Project
- 100%-owned; covers approximately 167 sq. km in the Central Lapland Greenstone Belt (“CLGB”) in northern Finland.
- The geological setting of the Risti Project has many similarities to prolific gold-rich orogenic gold belts globally, specifically the Timmins camp of the Abitibi region of Northern Ontario, Canada.
- 10+ new discoveries since 2015
Rock and Base of Till Samples
- Over 8,500 rock samples averaging ~ 6 g/t Au
- Numerous gold in till anomalies
- Tens of kms of prospective structural trends to be explored
- Key methods in discovery of Ikkari (Rupert Resources), Kittilä (Agnico Eagle) and Sakatti (Anglo American)
- 20 targets identified along domain boundaries, using base of till sampling and geophysics
Aamurusko – Near-Surface Gold Mineralization
Aamurusko NW
- 9.42 g/t Au over 28.22 m
- 23.41 g/t Au over 11.10 m
- 6.84 g/t Au over 19.00 m
Aamurusko Main
- 789.06 g/t Au over 2.90 m
- 42.28 g/t Au over 4.00 m
- 24.50 g/t Au over 4.75 m
- 22.63 g/t Au over 3.53 m
Gap Zone
- 4.64 g/t Au over 3.10 m
- 1.69 g/t Au over 7.75 m
- 8.63 g/t Au over 0.75 m
- 1.55 g/t Au over 3.45 m
Aamurusko – High Grade Gold from Surface
- 80% of holes intersected over 1.0 g/t Au
- 51% of holes intersected over 3.0 g/t Au
- 31% of holes intersected over 10.0 g/t Au
Kaares – Growing Mineralized System
Kaaresselkä
- Located approximately 4 km southwest of Aamurusko
- 2022-2023 drilling
- 2.41 g/t Au over 56.55 m
- 1.22 g/t Au over 19.90 m
- 2.27 g/t Au over 11.30 m
- 8.25 g/t Au over 4.30 m
- Geological setting and mineralization style resembling Ikkari and Helmi
- Excellent year around access
Kinross Joint Venture
On August 23, 2023, Aurion announced that it has signed a formal definitive option agreement with Kinross Gold Corporation (“Kinross”) granting Kinross the right to earn up to an undivided 70% interest in the 42.74 sq. km, Launi East Property, which is located to the southeast and adjacent to the Company's 100%-owned Risti Property.
Management and Directors
David Lotan, CPA, CA, Chairman
President of LHI, an investment company focused on natural resource opportunities
Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution
Portfolio manager for the Ontario Teachers' Pension Plan
Matti Talikka, M.Sc., FAusIMM(CP)Geo., Chief Executive Officer and Director
Various global positions at Outotec most recently as Director Geometallurgy and Project Evaluation
Former General Manager Exploration at Dragon Mining focusing on exploration and project development in Finland and Sweden
Non-executive director of Aurion since 2015, appointed as CEO in July 2020
Mark Serdan, CPA, CA, CFA, Chief Financial Officer
Over 20-year career in investment management and banking
Recipient of multiple Lipper awards for investment performance in precious metals, energy and natural resources
Mark Santarossa, CPA, CA, MBA, VP Corporate Development
Over 15-year career in mining capital markets in various roles, including mining equity research, institutional equity sales and investment banking
Kerry E. Sparkes, M.Sc., P.Geo., Director
Over 30 years of experience in the minerals industry as an exploration geologist and an executive
Explored for, delineated and developed two major Canadian gold deposits, both of which were subject of takeovers
Currently the Vice President of Geology for Franco-Nevada
On October 01, 2024, Lotan Holdings Inc. has acquired 26,500 common shares of Aurion Resources Ltd. through the facilities of the TSX Venture Exchange. Lotan now owns or has control of 14,908,584 shares of Aurion, or approximately 10.01 per cent of the current issued and outstanding shares of Aurion.
Immediately prior to the transaction, Lotan held 14,882,084 shares, representing approximately 9.99 per cent of the issued and outstanding shares of Aurion. Immediately after the transaction, Lotan held 14,908,584 common shares, representing 10.01 per cent of the issued and outstanding common shares of Aurion.
Lotan acquired the shares for investment purposes, and may acquire additional securities or dispose of existing securities of Aurion, in the market or privately, from time to time as circumstances warrant. The securities of Lotan set out above are held directly and not through control of another entity.
On September 09, 2024, Aurion Resources Ltd. has released results for nine holes from the 2024 drilling program at the Kaaresselka area of its wholly owned Risti property located in the Central Lapland greenstone belt in northern Finland.
- Gold mineralized system expanded in multiple directions at the Vanha prospect;
- Gold intersects include 29.10 grams per tonne Au (gold) over 3.10 metres, 3.35 g/t Au over 9.85 m, 2.77 g/t Au over 9.00 m, 3.92 g/t Au over 5.65 m, 1.00 g/t Au over 16.60 m and 2.32 g/t Au over 4.05 m;
- Follow-up drilling at Vanha and testing selected scout drill targets planned for 2024;
- Aurion is fully financed for all planned activities.
Summary:
- Gold mineralized system expanded in multiple directions at the Vanha prospect in the Kaaresselka area:
- 29.10 g/t Au over 3.10 m from 20.10 m (KS24079), 100 m north of the Vanha Main trend;
- 3.35 g/t Au over 9.85 m from 259.75 m (KS24079), extending the mineralized system to depth by 50 m in the western part of the Vanha Main trend;
- 2.77 g/t Au over 9.00 m from 85.30 m and 2.32 g/t Au over 4.05 m from 114.05 m (KS24081), 3.92 g/t Au over 5.65 m from 64.90 m (KS24080), extending the mineralized system 100 m toward west;
- 1.00 g/t Au over 16.60 m from 99.30 m (KS24076) in the eastern part of the mineralized system;
- Drilling continues to intersect broad zones of strongly deformed and hydrothermally altered rocks;
- Gold intersected over 600 m along strike and to 200 m depth at Vanha -- open in all directions.
- Follow-up drilling at Vanha and testing selected scout drill targets planned for 2024;
- Aurion is fully financed for all planned activities.
Comments: "The potential for a significant mineralized system at Kaaresselka continues to increase with each program. All six holes drilled at the Vanha prospect (Kaaresselka area) intersected gold, including intervals of 29.10 g/t Au over 3.10 m, 3.35 g/t Au over 9.85 m and 2.77 g/t Au over 9.00 m, and expanded the mineralized system in multiple directions," commented Matti Talikka, Aurion chief executive officer. "Aurion is fully funded for planned exploration activities including follow-up drilling at Kaaresselka and testing selected scout drill targets within our 100-per-cent-owned Risti property."
On August 13, 2024, Aurion Resources Ltd.'s board of directors has authorized the granting of stock options under its stock option plan to purchase 2.8 million common shares of the company at an exercise price of 57 cents per share for a five-year term, expiring Aug. 13, 2029. The stock options are being granted to certain directors, officers, employees and consultants of the company.
On August 07, 2024, Aurion Resources Ltd. has completed its previously announced best-effort private placement and non-brokered private placement for aggregate gross proceeds of approximately $9,036,481 from the sale of 16,429,965 common shares of the company at a price of 55 cents per common share.
The company plans to use the net proceeds of the offerings for the exploration and advancement of the company's projects in Finland, which includes its Risti and other projects on its 100-per-cent-owned land and its joint venture properties with B2Gold Corp. and Kinross Gold Corp., as well as for general working capital purposes.
On July 24, 2024, Aurion Resources Ltd. has arranged a non-brokered private placement of common shares to Kinross Gold Corp. which, on closing, will enable Kinross to maintain its previous ownership position of approximately 9.98 per cent of the issued and outstanding common shares of the company.
By news release dated July 16, 2024, the company announced an upsized brokered private placement of up to 11,818,182 common shares at a price of 55 cents per common share through a syndicate of agents led by Red Cloud Securities Inc. The company has also granted the agents an option, exercisable at any time up to 48 hours prior to the closing of the brokered offering, to sell up to an additional 2,727,273 common shares issuable under the brokered offering on the same terms and conditions.
The company plans to use the net proceeds of the brokered offering and the Kinross private placement for the exploration and advancement of the company's projects in Finland, which includes its flagship Risti project, and other projects on its 100-per-cent-owned land and its joint venture properties with B2Gold Corp. and Kinross Gold, as well as for general working capital purposes.
On July 16, 2024, Due to significant investor demand, Aurion Resources Ltd. has increased the size of its previously announced fully marketed private placement from $5-million to $6.5-million from the sale of up to 11,818,182 common shares of the company at a price of 55 cents per share.
Red Cloud is acting as lead agent and sole bookrunner on behalf of a syndicate of agents under the offering. The company has granted the agents an option, exercisable in full or in part, up to 48 hours prior to the closing of the offering, to sell up to an additional 2,727,273 shares for additional gross proceeds of up to $1.5-million. If the agent's option is exercised in full, the aggregate gross proceeds of the offering will be approximately $8.0-million.
The company intends to use the proceeds from the offering for the advancement of its Risti property in northern Finland, as well as working capital and other general corporate purposes.
On July 09, 2024, In response to the press release issued by Rupert Resources Ltd. on July 8, 2024, Aurion Resources Ltd. has had preliminary discussions with Rupert regarding a potential transaction.
No agreement has been entered into at this time, and there can be no assurance that any such agreement will be reached, or that any such agreement will ultimately result in a completed transaction, or that any of the expected objectives or outcomes will be realized. The company intends to provide further updates as circumstances warrant and in accordance with applicable securities laws.
"We appreciate Rupert's interest in Aurion's properties, which we understand could be of significant benefit to Rupert and its Ikkari project. We would welcome Rupert as our new partner in the joint venture or some form of arrangement that would create value for all parties," stated Matti Talikka, chief executive officer of Aurion. "Aurion looks forward to resuming exploration on its 100-per-cent-owned Risti property, where multiple discoveries are expected to add further benefit to this emerging world-class gold camp. Aurion and its partners have made significant investments in Northern Finland to advance multiple discoveries and will remain focused on pursuing opportunities that build value for all stakeholders."
On May 09, 2024, Further to Aurion Resources Ltd.'s news releases of March 11, 2024, and May 6, 2024, after due consideration it has decided not to exercise its right of first refusal to acquire the 70-per-cent interest of B2Gold Corp. in the joint venture company owned by B2Gold and Aurion, which owns exploration properties located in the Central Lapland greenstone belt in northern Finland. The company will continue to own its 30-per-cent interest and participate as it historically has in the JV company.
"After careful consideration Aurion has chosen not to exercise its RORF to acquire B2Gold's 70-per-cent interest in the JV company. Aurion is keen to minimize shareholder dilution and continue as a partner in the JV company to unlock further value as the area is developing towards a new gold camp," commented Matti Talikka, chief executive officer of Aurion.
"Aurion greatly appreciates the excellent partnership with B2Gold over the past several years and welcomes Rupert Resources as a new partner in the JV company, if the proposed transaction with B2Gold is completed. The current shareholders agreement for the JV company provides a framework that aligns interests of partners and enables value accretive progress of the JV."
On May 06, 2024, Aurion Resources Ltd. has updated shareholders with respect to the status of the company's right of first refusal (ROFR) as set out in the company's news release dated March 11, 2024. The ROFR expires on May 9, 2024.
The company is considering a number of options as a result of receiving the notice of sale and offer (as defined in the prior news release) and has held discussions with several parties in connection with determining its response to the notice of sale and offer. The company is also considering a range of other strategic alternatives at both the asset and corporate levels. It is likely that certain of these discussions will continue beyond the current expiry date of the notice of sale and offer, whether or not Aurion accepts the offer set forth in the notice of sale and offer.
March 19, 2024, Aurion-B2Gold JV Announces New Greenfield Discovery.
Aurion Resources Ltd. reported results for 12 holes from the 2023 scout drilling program in the Sore area, approximately 38 km northwest of Helmi on the Aurion-B2Gold Corp. Joint Venture.
- New greenfield discovery (Sore) in the NW part of the JV area
- 26.45 g/t Au over 2.45 m; 1.05 g/t Au over 40.70 m; 1.33 g/t Au over 17.90 m; 1.74 g/t Au over 14.10 m
- Up to 12.55 g/t Au in trench channel samples
- No previous drilling within 1.0 km of the Sore discovery
https://aurionresources.com/news/2024/aurion-b2gold-jv-announces-new-greenfield-discovery/
March 11, 2024, Aurion Resources Ltd. announced that it has received notice (the “Notice of Sale and Offer”) from B2Gold Corp. (“B2Gold”), informing the Company that B2Gold has received an offer, from Rupert Resources Ltd. to acquire B2Gold's 70% interest in the joint venture between B2Gold and Aurion. Aurion has until May 9, 2024 to decide whether it will exercise its Right of First Refusal.
February 27, 2024, Aurion Intersects 3.68 g/t Au over 11.35 m at the Kaaresselkä Area on the Wholly Owned Risti Property
“The mineralized system at Kaaresselkä (Vanha prospect) is growing favorably and efficiently with 15/16 holes drilled since 2022 intersecting gold.” commented Matti Talikka, CEO of Aurion. “The mineralized system is open along strike and at depth, and is associated with the mainly unexplored structural trend that extends 15 km between Kaaresselkä and the recent Vuoma (Aurion-B2Gold JV) discovery.”
January 16, 2024, Aurion-B2Gold Intersect High-Grade Gold Mineralization in Southeastern Area of JV (Vuoma)