The Mining Play

Auryn/Medinah - 2021 - 2nd Half General Discussion

Where do we go from here?

3 Likes

Happy Fourth to everyone, let’s hope the second half of the year will bring joy to you all…

9 Likes

http://earthsci.org/mineral/mindep/vein/vein.html#assoc

When brecciaboy starts talking about hydrothermal vein deposits: mesothermal, epithermal and hypothermal the above website explains in pictorial form what he’s talking about.

2 Likes

Anyone here buying? Accumulation continues. Bauman group still up to something?

Yes someone is accumulating but not me. There were 6 trades that went through at 999,999 shares taking us up to .0028 not sure why they weren’t an even mil. Now there is a sell order at 8 mil at .0028.

1 Like

July 2021 – Shareholder Update

Jul 6, 2021

AURYN Mining Corporation (OTC: AUMC) is pleased to share our Q2 2021 accomplishments, Q3 2021 objectives, and outlook for the future.

Q2 2021 – ACCOMPLISHMENTS

  • On May 17, 2021, AURYN received approval from the National Geology and Mining Service (SERNAGEOMIN) on its closure plan. On May 18, 2021, SERNAGEOMIN requested more information regarding AURYN’s exploitation plan. AURYN provided this information to meet the requirements and is awaiting a definitive permit issuance.

  • As announced AURYN sent 9 tons of ore to Enami for processing with a result of 45 grams of gold per ton. The remaining ore has been stock-piled and will be processed once AURYN begins regular shipments of ore to Enami.

  • AURYN’s objective was to intersect the Don Luis vein early in Q2 and begin exploitation with regular shipments of ore to Enami. At the beginning of the quarter, AURYN anticipated intersecting the vein within a couple of weeks, including 10-15 meters more of tunneling. This was not the case. It took almost the entire quarter to intersect the vein. Several days were missed for weather and equipment related issues, and miners encountered extremely hard rock most of the way. In total the tunnel is 125 meters. On June 23, 2021, AURYN intercepted the Don Luis vein.

  • Nineteen samples have been taken from the Don Luis vein and surrounding area. Lowest grade samples were taken from surface. All other samples are from underground development with eleven having grades of more than 20 grams per ton. The highest grades identified are 103.9, 112.5 and 1220 grams per ton. Images of the exploration effort, a hand-drawn map with results, and an official assay example are on our website.

  • During the tunnel construction AURYN intercepted several mineralized structures of varying size. These will be assayed and analyzed.

  • AURYN signed a second agreement with Universidad de San Sebastian to further analyze the entire district. Difficulties posed by the pandemic made infield study impossible, however, the following projects have started:

  • feasibility of a flotation plant project;

    • feasibility of an infield lab for analysis of gold, silver, and copper results from samples taken from the area;
    • evaluation and feasibility of improving roads and access;
    • a new evaluation of La Fortuna and Lipangue district geology; and
    • evaluation of environmental topics regarding the La Fortuna mining project.

Q3 2021 – OBJECTIVES

  • Begin an exploitation plan on the Don Luis vein on multiple fronts with regular shipments of ore to Enami along with the existing ore that has been stockpiled.

  • Continue our geological studies and assessments in order to increase production and establish reserves on La Fortuna and Lipangue mining district.

  • Continue working on the projects AURYN started with Universidad de San Sebastian. In addition, AURYN and Universidad de San Sebastian intend to develop a carbon footprint estimator and implement best practices for our current operations. Our joint efforts on these projects will accelerate once Covid restrictions are reduced.

  • Purchase a scoop and evaluate the feasibility of purchasing a truck to improve ore shipping operations and costs.

  • Explore the feasibility, timing, and permitting requirements for the development of an on-site concentration and processing plant.

  • Continue developing the tunnel to intersect two massive, known structures encountered during previous trenching operations. (See: trenching program update.) These structures are each greater than 2 meters width in the trench.

OUTLOOK

Mining

All indications are that grades are increasing, and the structure is getting wider as it gets deeper. This is consistent with a mesothermal deposit and lines up with previous reports provided by Robert Cinits (A.C.A. Howe) and Richard Sillitoe. Management’s outlook for the future is extremely bullish.

Financial

To date, a third party is paying for AURYN’s exploration efforts. AURYN’s Board of Directors is monitoring expenditures with a commitment to reimburse the third party (without interest) from production. We remain at 70,000,000 shares outstanding and do not anticipate any dilution from our exploration efforts. Now that AURYN has hit the Don Luis vein, the company expects to be cashflow positive for Q3.

For further information please visit our website, https://aurynminingcorp.com.

Submitted on behalf of the Board of Directors.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.

Contact Information

Auryn Mining Corporation
https://aurynminingcorp.com/
ir@aurynminingcorp.com

Sign up for Notifications

9 Likes

Looks great!

4 Likes

Looks like sample #18 came in at 1200 g/ton…very nice.

6 Likes

Yes great news.

2 Likes

It’s on the OTC as well.

July 2021-Shareholder Update | AUMC - AURYN Mining Corporation | News | OTC Markets

AUMC is not playing around here. Take a look at this!

6 Likes

Over 60 new photos also

3 Likes

“Management is extremely bullish”

I appreciate the honest update. and WOW a 1220.0 gpt sample!

4 Likes

Just got the update and came here to post in the event nobody had seen it yet. Then I see 123 unread posts as there was a bunch more SP excitement that I have paid zero attention to! :smiley:

Looks like there’s more than a little life in this for us yet. Considering how long I have been ignoring these stocks, perhaps I’ll have to revamp my long standing attitude about ignorance not being bliss!

5 Likes

How about UP?

7 Likes

Ok, MDMN & AUMC are back on my watch lists now. I may even buy some Auryn shares to avg down, although I may give myself a heart attack if I do.

I hope these posts find you all well!

10 Likes

Probably worth mentioning that the Santiago area is having another dry Winter which should help with their production and getting ore down the mountain. Basically no rain/snow in the forecast for the next 2+ weeks despite being in the middle of their wet season.

6 Likes

It’s been along time since I have been excited about this stock again. 20 years maybe !! Lol

3 Likes

Rich,
Glad you are some what excited again. Hope you get some more AUMC. Enjoy and be blessed.

3 Likes

Good stuff but MDMN to AUMC share conversion news would be nice.

3 Likes

I am counting on it at 0.005 to 1. I don’t know exactly when. I can tell you, there has been no dilution on MDMN, the same way there has been none on AUMC. The 3rd party who is is funding this and only asking for full reimbursement is incredibly generous.

Remember Maurizio’s commitment to shareholders in Las Vegas at the last meeting post discovery of LP’s misdeeds? He said everyone will be treated equally and proportionally.

8 Likes