Aurvista Gold Update: Phase 1 Detailed Targeting Work Nearing Completion, Phase 2 Drilling Planned for Q4-2016
MONTREAL, QUEBEC--(Marketwired - Sep 27, 2016) - Aurvista Gold Corporation ("Aurvista" or the "Company") (TSX VENTURE:AVA)(OTC PINK:ARVSF)(FRANKFURT:AV2) is pleased to report on the advancement of Phase 1 of the Detailed Targeting Program (the "Program") on the Douay Gold Project ("Douay"). The Company had previously announced a significant breakthrough in predicting gold and massive sulphides occurrences on Douay. The Program's objective is to define and correlate the known gold mineralization chemistry and alteration mineralogy to the geological and geophysical signatures, which can be then utilized to predict new gold mineralization.
The work reported below is part of the continuing Program that commenced in June 2016 and previously reported (refer to the Company news releases dated June 14 and June 21, 2016; July 27, 2016; August 29, 2016; and September 7, 2016). To date, Aurvista has:
- Completed the re-logging of 228 historic core drill holes totaling 74,580 meters from 27 of the planned 28 sections. These sections include non-mineralized segments and the 10 known gold zones. There are 105 drill holes remaining to be re-logged for 23,830 meters. Some 98,410 meters in 333 drill holes are planned to be re-logged by the end of the Phase 1 campaign. The Company will also rely on drill core from past drill campaigns conducted by Aurvista from 2011 to 2015 (42,955 meters in 127 drill holes);
- Drill core from previous drilling campaigns are being analyzed geochemically using a hand-held XRF. More than 19,000 readings have already been taken to date. It is estimated that an additional 7,000 readings will be taken on the remaining drill core;
- A total of 704 individual drill core samples were taken for gold-copper-zinc assay, whole-rock analyses of major and trace oxides, rare earth and trace elements, as control analysis for the XRF readings;
- Over 117,000 readings were taken to measure the magnetic susceptibility and conductivity of rocks as part of the field validation of EM-INPUT™ and airborne TDEM conductors; and
- Over 2,300 assay samples have been generated from re-logged drill core samples of mineralized but un-analyzed drill core, and have been shipped to the ALS Group Laboratory in Val-d'Or (Quebec) for gold, copper and zinc assays, just as the 704 individual drill core samples.
Mr. Jean Lafleur, President and CEO of Aurvista stated "A combination of iron-rich rocks and iron carbonate and sulphide alterations produced higher and lower grade gold mineralization in association with E-W shear zones and cross-structures. But more importantly, the Company believes that it can link the known gold zones to specific shears and potentially predict where to find additional gold mineralization. Even more critical in terms of the overall potential, there are two distinct but overlapping metal signatures at Douay, the first is a primary Volcanogenic Massive Sulphide or VMS of Copper-Zinc affinities crosscut by a secondary shear-hosted gold system. This interpretation is very similar to the Doyon-Bousquet-Laronde mining camp located 100 km S-SW of Douay, along the Cadillac Larder Lake Deformation Zone."
Mr. Lafleur adds "Regional deformation at Douay produced and enhanced the crisscrossing network of NW-SE, NE-SW and E-W structural fabric which led to the eventual emplacement of porphyries and subsequent gold mineralization within the 10 km by 3 km Douay-Style Mineralization or DSM and possibly beyond towards the E and W. There are several subparallel shears hosting the 8 higher grade and 2 lower gold zones with a significant potential of discovering more gold mineralization in addition to our existing mineral resources based on the number of shears, structural domains and junctions."
The Phase 1 field portion of the Program is expected to be completed by the end of October with the final targets identified for the initial 4,000 meters Phase 2 core drilling campaign planned for mid-November.
The technical contents in this news release have approved by Mr. Jean Lafleur, M. Sc., P. Geo., President and CEO for Aurvista Gold Corp., a Qualified Person under National Instrument 43-101.
About Aurvista Gold Corp.
Aurvista Gold Corp. is a junior gold exploration and development Company with 90,689,121 shares outstanding trading on the TSX Venture Exchange in Canada, the Frankfurt Stock Exchange and OTC Pink Sheets in the US. Aurvista's only asset is the Douay Gold Project, consisting of a 100% owned interest in 250 contiguous claims totaling 133.1 km2, plus a 90% interest in 5 contiguous claims totaling 0.2 km2 and a 75% interest (25% held by SOQUEM) in 32 contiguous claims totaling 11.9 km2. In total there are 287 claims covering 145.3 km2 located along a 20 km segment of the Casa Berardi Deformation Zone in the prolific Abitibi Belt of northern Quebec. Douay is located 40 km SW of the Matagami Zinc Base Metal Camp and 150 km N of the Val-d'Or-Malartic gold Camp (both in Quebec).
In August, 2012, Aurvista updated the Mineral Resources estimates that included all drilling completed to the end of March 2012. Douay contains Mineral Resources estimates of 2.7 million tonnes of Indicated Resources at 2.76 g/t gold for 238,000 ounces (above a 0.3 g/t gold cut-off grade) or 3,458,000 tonnes grading 2.98 g/t gold (at a 0.5 g/t gold cut-off grade) for 235,500 ounces. There were additional Inferred Resources of 115 million tonnes at 0.75 g/t gold for 2.75 million ounces (above a 0.3 g/t gold cut-off grade) or 62 million tonnes grading 1.06 g/t gold for 2.1 million ounces (above a 0.5 g/t cut-off grade). Details can be viewed on the Company's website at www.aurvistagold.com.
NEITHER THE 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 PRESS RELEASE.
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 Corp.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistaGold.com.
Contact
Aurvista Gold Corp.
Mr. Jean Lafleur, P. Geo.
President and CEO, Director
Cell: +1 514 927 3633
Aurvista Gold Corp.
Mr. Keith C Minty, P. Eng., MBA
Chief Operating Officer
+1 416 682 2671
www.aurvistagold.com
