Canadian Mining Journal


Auryn touts ‘district-scale’ potential at Committee Bay

VANCOUVER — Explorers often opine on district scale discovery potential. When it comes to Auryn Resources (TSXV: AUG) and its massive land position on the Committee Bay gold belt in Nunavut, however, the collection of financial and scientific minds behind that claim make it seem much more than self-serving speculation.

On the financial side are president and CEO Shawn Wallace and executive chairman Ivan Bebek, who co-founded Cayden Resources and discovered the El Barqueno asset, which encompasses roughly 410 km2 in the Guachinango gold district in Jalisco state, Mexico. Agnico Eagle Mines (TSX: AEM; NYSE: AEM) scooped up the junior in late 2014 for around $205 million.

Meanwhile, the technical roster reads more like a major than an explorer, with a long list of Newmont Gold (NYSE: NEM) alumni led by former global structural geologist, and Auryn’s current chief operating officer, Michael Henrichsen. The company conducted extensive due diligence on gold projects over two years before opting to pay around $20 million in shares for North Country Gold and Committee Bay in mid-2015.

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