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Augen Gold Corp.(GLD: TSX-V) research and analysis

Contributed by eResearch

By eResearch

Augen Gold Corp. is a Canadian junior exploration company with 100% ownership of 24,355 hectares of mineral claims on a property 45 km long and averaging 1-2 km wide in the Swayze Greenstone Belt property in north-central  Ontario. The Company‟s focus is on confirming and expanding a historic resource at the Jerome mine that is part of this extensive land package. The  Jerome mine, which was operated by Noranda Mines between 1940 and 1942 ,produced 56,000 ounces of gold and 15,600 ounces of silver. At a time when gold and silver prices were low, Noranda abandoned the property to focus on base metals.

Augen Gold‟s Swayze Greenstone Belt, Ontario is one of the most extensive in the region. The eastern end of the South Swayze property is adjacent to Trelawney Mining and Exploration Inc.‟s impressive Chester gold discovery, which has garnered much investor interest. If the Trelawney strike, as believed, extends extensively onto Augen Gold‟s property, it could spark acquisition interest by Trelawney in the Company.

To date in 2010, Augen Gold has completed 23 drill holes at the Jerome mine site, for a total of over 3,000 metres of diamond drilling. This is in addition to the 10,449 metres of drilling in 21 holes completed in 2008.

With a $2 million program scheduled for the balance of 2010, Augen Gold is ready to proceed with exploration drilling designed to reveal potential new targets. A platform for diamond drilling is currently in place over the largest anomaly. The program will be testing the potential over a 5-kilometre strike length that includes a target north of Trelawney‟s discovery.

An historical range for the Jerome gold mine was prepared in 1989, which included 523,900 tonnes at 6.86 g/t gold using a 3.94 g/t gold cut-off. Although this is indicative of the potential of the mineralized zones, because it is not NI 43-101 compliant, it cannot be relied upon. Further drilling is needed at the Jerome mine in order to define an NI 43-101 compliant resource, and a scoping study will be required to select appropriate cut-off grades.

Like all junior mining exploration companies, Augen gold‟s share performance will reflect its drilling success. Positive results ove rthe next few months should  spark continued interest in the Company‟s shares.

Additional information on Augen Gold Inc. is provided on our website: http://www.eresearch.ca/profile.asp?companyID=534.