Auryn Resources secures new copper claims at its copper-gold project in Peru

Auryn Resources Inc (TSE:AUG) has staked an additional 8,500 hectares of land at its Sombrero North copper-gold project in Peru. 

The new claims, collectively known as Macha Machay, contain the highest copper values in stream sediments detected by the company’s regional exploration program, which screened roughly 7,000 square kilometers in the Andahuaylas-Yauri belt.

“In an effort to be ambitious as first movers on the western half of the Andahuaylas-Yauri belt, we have taken low-cost initiatives to secure more highly prospective claims prior to drilling the Sombrero Main target in Q1 2020,” Chairman Ivan Bebek said in a statement.

Macha Machay contains elevated levels of copper in consecutive drainage basins over an area of about 12 kilometers by six kilometers. The copper levels have been found to be 1.5 to 3.5 times greater than the levels observed at the nearby Sombrero Main, Nioc and Good Lucky clusters.

“The regional stream sediment survey results from Macha Machay contain the strongest geochemical values we’ve seen to date,” Bebek said. “The new claims are also adjacent to our high-grade Milpoc target and importantly, are within the Hunacasancos community land where we have an existing agreement to conduct exploration.”

The company said it plans to begin surface work at Macha Machay, including follow-up stream sediment, soil and rock sampling, as well as geological mapping to further define areas of potential copper-gold mineralization.

Auryn also remains on track to begin its maiden drill program at Sombrero in the first quarter of 2020. The company applied for drill permits in June and recently received the archeological portion of the permit from the provincial government in Ayacucho.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Story by ProactiveInvestors