Aurion JV Partner, B2Gold, Provides Notice to Exercise Option on Projects in Northern Finland

·2 min read
Aurion Logo (CNW Group/Aurion Resources Ltd.)
Aurion Logo (CNW Group/Aurion Resources Ltd.)

ST. JOHNS, NL, Oct. 18, 2021 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") announces that B2Gold Corp. (TSX: BTO) has provided Aurion notice to exercise its option to acquire an additional 19% interest in the Finland Joint Venture (JV), taking its total interest to 70%.

The JV covers an area of approximately 331 square kilometres along the major crustal scale Sirkka Shear Zone in the Central Lapland Greenstone Belt, and includes a number of discoveries such as Kutuvuoma (16.47 g/t Au over 11.0 m), Soretiavuoma (48 g/t Au over 1.1 m), Sinermä (0.54 g/t Au over 40.2 m), Kiekerömaa (5.8 g/t Au over 5.0 m) and Kettukuusikko (4.33 g/t Au over 20.4 m). Furthermore, Rupert Resources' 4 million ounce Ikkari discovery is located immediately adjacent to the JV property.

B2Gold advises that since the inception of the agreement, dated January 13, 2016, it has completed over CAN$15 million in exploration expenditures, paid Aurion CAN$50,000 in cash and issued 550,000 B2Gold shares.

B2Gold also provided notice of its intention to sole fund all programs and budgets until completion of a Feasibility Study as required under the remaining option to acquire an additional 5% ownership interest, subject to its right to terminate sole funding at any time.

B2Gold is currently completing a 5,000-metre diamond drill program on the Kutuvuoma-Ikkari corridor as well as base of till and trenching programs on a number of targets in the eastern part of the JV property.

"Aurion highly values the opportunity to work alongside a company of B2Gold's caliber who has a strong track record in exploration, development and mining, and we are pleased that our co-operation continues," commented Matti Talikka, Aurion's CEO. "The B2Gold team has already made several discoveries on the JV property and their commitment is a testament to the world class potential for significant discoveries within the Central Lapland Greenstone Belt."

About Aurion Resources Ltd.

Aurion Resources Ltd. (Aurion) is a Canadian exploration company listed on the TSX Venture Exchange (TSXV: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing its joint venture arrangement with B2Gold Corp.

On behalf of the Board of Directors,
Matti Talikka, CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Aurion Resources Ltd.

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