Vancouver, British Columbia--(Newsfile Corp. - December 31, 2024) - Auric Minerals Corp. (CSE: AUMC) ("Auric" or the "Company") is pleased to announce the first phase of its 2025 exploration program (the "Program") on the Route 500 Uranium Property, (the "Property") located in Labrador's prospective Central Mineral Belt ("CMB"). The field team is scheduled to mobilize to the Property in January, 2025.
The Route 500 property is located approximately 100 km west south-west of Paladin Energy's 92 Mlb uranium Michelin deposit, and a similar distance east of Atha Energy Corp's 14.5 Mlb CMB uranium discoveries.
Program Description
The initial work program will partly cover recommended work programs from the Technical Report on the Route 500 property, and is planned to include prospecting, geologic mapping, plus extensive rock and soil sample surveys. Initial targets were identified during historic exploration programs from 1995 to 2013 by various operators. Particular focus will be made on identifying and tracing Pegmatite bodies on the property, which have historically returned Uranium mineralization.
Chris Huggins, interim CEO of Auric Minerals commented, "We are excited to begin exploration on the Route 500 Property. The Central Mineral Belt of Labrador is a highly prospective area as evidenced by Paladin Energy and Atha Energy Corp's discoveries, yet this region is still vastly under-explored."
About the Company
Auric is a mineral exploration company based in Oakville, Ontario and holds options over the Route 500 Uranium Property in Labrador, and the Goodeye Property in British Columbia, Canada.
About the Property
The Route 500 property consists of 2 contiguous mineral claim blocks covering approximately 11,025 hectares, located 70km east of Churchill Falls, Newfoundland and Labrador. The Route 500 property can be accessed by following the Trans-Labrador Highway 500 West from Happy-Valley Goose Bay. The claims straddle the Highway to the north and south, providing excellent accessibility. Limited historic work has been completed, yet shows the property is highly prospective for uranium mineralization.
Note: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Company's properties.
AURIC MINERALS CORP.
Chris Huggins, interim CEO and Director
For more information, please call Chris Huggins at (604) 968-4844 or email chris@greeenwood.capital
Forward-Looking Statements
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's intentions, plans and future actions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235582
SOURCE: Auric Minerals Corp.
