Auriga Gold Confirms New Mineralization on Trend at the Maverick Gold Project, Manitoba
17 Novembre 2011 - 5:08PM
Marketwired
Auriga Gold Corp. (TSX VENTURE:AIA) ("Auriga Gold" or the
"Company") is pleased to report final results from its Summer 2011
drilling program at the Company's Maverick Gold Project. The latest
results identified similar high-grade gold mineralization to that
of the Puffy Lake deposit and confirmed the opportunity to expand
existing resources on strike. These results demonstrate the
excellent potential for discovery of new resources beyond the Puffy
Lake deposit along the greater than 20 km mineralized trend on the
Company's property. The drill results reported here have been
completed subsequent to the Company's NI43-101 resource announced
in August 2011 (see press release dated August 4, 2011).
The objective of the latest drilling campaign was to test the
continuity of mineralization strike and orientation at the Puffy
Lake mine and confirm new targets on the greater property package
for follow-up drilling this winter. The Maverick Gold Project,
located 65 km northeast of Flin Flon, Manitoba, includes the
past-producing Puffy Lake Mine and on-site mill, the adjacent
Nokomis Property, and recently staked mining claims covering a
total of 6,640 hectares (66.4 km2). The Company recently announced
it has acquired the 46% minority interest held by Claude Resources
Inc. in the Nokomis Property and now has a 100% interest in all
properties under the Maverick Gold Project (see press release dated
November 3, 2011).
In the current results, holes A3-42 and 43 continue to
demonstrate continuity of gold mineralization on strike in the
northern part of the Puffy Lake deposit with hole A3-43
intersecting 0.94 meters of 9.93 g/t gold. Hole A3-48 is
particularly significant in that it is a pure exploration hole and
intersected a narrow 0.50 meter wide zone at a grade of 23.68 g/t
gold on the mineralized horizon 2 km south west of the Puffy lake
deposit. Holes A3-51 to A3-63 are shallow holes that successfully
expand near-surface mineralization in the Sherridon starter pit
area of the Puffy Lake deposit. Hole A3-60 had the best
intersection with 3.72 g/t gold over an interval of 4.35
meters.
Richard Sutcliffe, Auriga Gold's President and CEO commented,
"We are particularly encouraged by the intersection of Puffy Lake
style high-grade gold mineralization in drill hole A3-48 located 2
km south west of the Puffy Lake deposit. This intersection is on
the opposite limb of the fold structure that hosts Puffy Lake and
the results demonstrate the potential for generating new deposits
on the gold mineralized trend at Maverick Gold."
----------------------------------------------------------------------------
MAVERICK GOLD PROJECT - PUFFY LAKE PROPERTY
----------------------------------------------------------------------------
SUMMARY OF SIGNIFICANT ASSAYS
----------------------------------------------------------------------------
HOLE ID EASTING NORTHING AZIMUTH INCL FROM (m) TO (M) INTERVAL (m) Au (gpt)
----------------------------------------------------------------------------
A3-42 373360 6100705 360 -90 176.78 177.28 0.50 5.51
----------------------------------------------------------------------------
A3-43 373623 6100880 360 -90 355.02 356.06 0.94 9.93
----------------------------------------------------------------------------
A3-45 372940 6100860 360 -90 7.61 7.81 0.20 8.18
----------------------------------------------------------------------------
A3-48 372075 6100284 235 -60 335.65 334.15 0.50 23.68
----------------------------------------------------------------------------
A3-51 373443 6100540 360 -90 31.86 36.13 4.27 1.09
----------------------------------------------------------------------------
A3-53 373397 6100525 235 -45 4.30 6.67 2.37 1.45
----------------------------------------------------------------------------
A3-59 373548 6100457 360 -90 22.63 24.60 1.97 3.70
----------------------------------------------------------------------------
A3-60 373663 6100393 360 -90 39.05 43.40 4.35 3.72
----------------------------------------------------------------------------
incl. 39.05 40.90 1.85 3.63
----------------------------------------------------------------------------
and 41.90 43.40 1.50 6.16
----------------------------------------------------------------------------
----------------------------------------------------------------------------
A3-61 373352 6100644 360 -90 45.06 46.06 1.00 1.64
----------------------------------------------------------------------------
A3-63 373366 6100626 360 -90 40.80 42.80 2.00 2.47
----------------------------------------------------------------------------
Note: true intercept widths are currently estimated at 85-100% of drilled
widths
----------------------------------------------------------------------------
Holes A3-44, 45, 46 were drilled to test the northern extension
of near surface mineralization, however, only A3-45 intersected
gold mineralization. Hole A3-47 was not drilled. Holes A3-55 to 58
were drilled in the Sherridon Pit area and did not intersect
significant mineralization.
Exploration drilling at Maverick Gold will continue through the
winter season with the intention of both upgrading and expanding
existing NI 43-101 resources. As part of the program the Company is
planning a 1,500 meter drilling program at the Nokomis deposit
located 7 km northeast of the Puffy lake mill with particular
emphasis on testing near surface mineralization.
A plan section showing the location of the diamond drill holes
is available on the Company's website at www.aurigagold.ca.
About Auriga Gold
Auriga Gold Corp. is a Canadian mining company focused on
developing the Puffy Lake Mine and expanding gold resources on its
Puffy Lake and Nokomis properties (the "Maverick Gold Project").
The Company plans to upgrade and expand the resources at the
Maverick Gold Project, initiate test mining, complete feasibility
studies of mineral reserves, and bring the Puffy Lake Mine back
into production. The Puffy Lake Mine includes a 1,000 tpd flotation
mill, a developed underground ramp to 135 metres depth, is fully
road accessible and close to existing mining infrastructure. The
Maverick Gold Project is located in the Flin Flon Greenstone Belt
of Central Manitoba.
Qualified Person
The Company's Qualified Person ("QP") for the drill program at
the Maverick Gold Project is Bruce Mackie, P.Geo. As QP, Mr. Mackie
has prepared or supervised the preparation of the scientific or
technical information for the property and has verified the data
disclosed in this press release.
Sample Preparation, Analyses and Security
The assay and sample information as well as geological
descriptions are taken from drill logs as prepared by the project
geologists for the drill program. All drill cores are NQTW in size
and assays are completed on split or sawed half-cores, with the
second half of the core kept for future reference. The samples are
put into rice bags which are sealed with security locks for
shipping directly to Accurassay Laboratories, an accredited assay
laboratory, in Thunder Bay, Ontario. The samples are analysed using
standard fire assay procedures with an AA/ICP finish, using 50g
aliquots. Assay results greater than 2.50 gram per tonne will be
rerun using a gravimetric finish. In addition to the standard
quality control of the laboratory, a series of blanks and standards
are inserted in every shipment for quality control purposes.
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute forward
looking statements under applicable securities laws and necessarily
involve risks associated with mining exploration and development,
volatility of prices, currency fluctuations, imprecision of
resource estimates, environmental and permitting risks, access to
labour and services, competition from other companies and ability
to access sufficient capital. As a consequence, actual results may
differ materially from those anticipated in the forward-looking
statements. A feasibility study has not been completed and there is
no certainty the disclosed targets will be achieved nor that the
proposed operations will be economically viable.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Auriga Gold Corp. Dr. Richard H. Sutcliffe President
and CEO 416-214-2785 Auriga Gold Corp. Alison Tullis Manager,
Investor Relations 416-214-2785atullis@aurigagold.ca /
Info@aurigagold.cawww.aurigagold.ca
Grafico Azioni (TSXV:AIA)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni (TSXV:AIA)
Storico
Da Lug 2023 a Lug 2024
