Aurion shares bounce on B2Gold JV discovery in Lapland

Aurion Resources (TSXV: AU) shares rose almost 11% on Tuesday after reporting a greenfields discovery with 70% joint-venture partner B2Gold (TSX: BTO) in northern Finland’s Central Lapland greenstone belt.

The discovery in the emerging Sore area returned significant intercepts such as 26.45 grams gold per tonne over 2.45 metres, including a higher-grade segment of 108.5 grams gold per tonne over 0.5 metres, including 1.05 grams gold over 40.7 metres and 1.33 grams over 17.9 metres. This area has not seen any previous diamond drilling within 1 km, the company said in a release.

"A new discovery, greenfield and on a blind target, further highlights the prospectivity of the Aurion-B2Gold 290 sq. km JV property and the quality of B2Gold's exploration team,” Aurion CEO Matti Talikka said.

Near-surface mineralization was encountered in pitting, and scout drill holes successfully followed it. The discovery is located 1.7 km northwest of the Kettukuusikko prospect and 38 km northwest of the Helmi discovery.

Company shares reached an intra-day high of 62¢ apiece before settling at 59¢. Aurion has a market capitalization of $79.5 million.