Aurvista Gold Corp. Commences Infill Drilling at Douay West Zone
Montreal, Quebec--(Newsfile Corp. - October 16, 2014) - Aurvista Gold Corp. (TSXV: AVA) ("Aurvista" or the "Company") is pleased to announce that it has commenced the first phase of a three phase diamond drill program on the Douay West Zone ("Douay West") at the Company's Douay Gold Project, located in northern Quebec along the Abitibi Gold Belt.
The objective of the three phase drilling program is to get a more detailed interpretation of the mineralization in certain areas of Douay West. The first phase of the drill campaign will test the northwest and southeast extensions of the near surface mineralization in an attempt to further define a trend which could link to a second zone at shallow depth. The second and third phases of the drilling program will be infill focused in order to facilitate a conversion of mineralization at depth from the inferred to the indicated class. Phase 1 will comprise 1,500 metres of diamond drilling with the second and third phases comprising 3,900 metres for a total of 5,400 metres of additional drilling at Douay West. The second and third phases are anticipated to start sometime in 2015.
As part of the phase 1 drilling program the Company has elected to conduct geotechnical and hydrogeological investigations on both the overburden and rock units at Douay West. In addition to this work the Company has also initiated a geochemistry study. These studies are intended to help the Company better evaluate the merits of an open pit mining scenario against other alternatives. Additional study work for the further evaluation of a potential underground mining operation would likely be completed during phase 2 and 3 of the drill campaign.
The Company is also concurrently working towards completing a Preliminary Economic Assessment ("PEA") for both an open pit and underground mining scenario at Douay West. The PEA is expected to be completed in Q1 of 2015. The results of the current drill program and its associated studies are not expected until sometime in Q1 2015 and therefore will not be a part of the PEA. Nevertheless, the results in combination with the PEA will help to form the basis of future project definition work that could lead to a pre-feasibility or feasibility level study at Douay West.
Chris Sharpe, VP Engineering, stated: "This drill campaign is a continuation of past investigations and represents another step forward to further understanding the mineralization and overall resource potential of the Douay West Zone. The results of this campaign will contribute to the overall detail of future studies and build on the PEA on which Aurvista is currently working. This campaign's results will also be beneficial to prefeasibility and feasibility studies the company intends to complete in the future."
About Aurvista Gold
Aurvista Gold Corp. is a junior gold exploration and development company. Aurvista's principal asset is the Douay Gold Project, consisting of 221 wholly owned claims totaling approximately 11,430 hectares. The Douay Project's North West Zone has 32 designated claims for a total of 1,193 hectares and is in a Joint Venture agreement with SOQUEM. The Douay Project is located on the Casa Berardi Fault in northern Quebec. The Douay Project contains a NI 43-101 compliant Mineral Resource of 114,652,000 million tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Measured and Indicated categories, at a cut-off of 0.3 g/t gold. Details of the Douay Gold Project can be viewed on the Company's website at www.aurvistagold.com
Forward-Looking Statements
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corporation's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistagold.com.
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For further information:
Aurvista Gold Corp.
Bryan Keeler, CFO
Telephone: (416) 504-4126
Facsimile: (416) 504-4129
Chris Sharpe, VP Engineering
Telephone: (416) 682 2675
Facsimile: (416) 504-4129
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