Auxico Files Updated NI 43-101 Technical Report: A Mixed Bag for Investors

Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") has filed an updated NI 43-101 Technical Report on the Minastyc property located in Colombia with the Autorité des marchés financiers (the "AMF"). The report, prepared by Qualified Person Mr. Ricardo Sierra, has both positive and negative implications for the Company's future exploration and development plans.

On the positive side, the report confirms the presence of tin, tantalum, vanadium, and rare earths on the property. This is encouraging news for the Company, as these minerals are in high demand and have significant market potential. The report also recommends a bulk sampling program with a minimum sample size of 2.5 tonnes on at least 30 pits, in compliance with NI 43-101 standards, to validate previous exploration work. This suggests that the Company is committed to further exploration and development on the property, which could lead to the identification of new resources and the development of a small-scale production program.

However, the report also has some negative implications for the Company. The report does not include any mineral resources or reserves estimates, as previous exploration sampling did not meet the standards required for resource calculations under AMF regulations. This means that all previous disclosures made by the Company regarding metal content estimates on the property should be disregarded, as they were not made according to standard industry practice and did not comply with regulatory requirements. This could potentially impact the Company's ability to raise funds or attract investors, as they may be hesitant to invest in a project without reliable resource estimates.



In conclusion, the updated NI 43-101 Technical Report on the Minastyc property is a mixed bag for investors. While the report confirms the presence of valuable minerals on the property and recommends further exploration, it also highlights the lack of reliable resource estimates, which could impact the Company's ability to raise funds or attract investors. The Company's future plans for the property will likely involve conducting further exploration to gather more data and potentially identify new resources, which could lead to the development of a small-scale production program. However, investors should be cautious and carefully consider the risks and uncertainties associated with the project before making any investment decisions.