Aurvista Gold Corp. Extends Gold Prophyry Zone an Additional 750 Metres to the East
29 March 2012 - 12:00AM
Marketwired Canada
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Aurvista Gold Corp. ("Aurvista" or the "Corporation") (TSX VENTURE:AVA) is
pleased to announce that the winter drill program conducted on the Eastern
portion of the Porphyry Zone on its wholly-owned Douay Gold Project ("the
Project") has successfully extended gold mineralization approximately 750 metres
to the East of previously known mineralization. To date, the Porphyry Zone has
been traced over a strike length of 3.3 kilometres, and it remains open to the
East, West and at depth.
The results from the step-out drill program conducted on the Eastern portion of
the Porphyry Zone are presented in Table 1.
Table 1: Significant Intercepts in Eastern Extension of Porphyry Zone
(listed from West to East)
----------------------------------------------------------------------------
From To True Width Grade
Drill Hole # UTM East (m) (m) (m) Au (g/t)
----------------------------------------------------------------------------
DO-11-70 707,775 192.0 249.0 57.0 1.42
----------------------------------------------------------------------------
incl. 217.5 225.0 7.5 4.77
----------------------------------------------------------------------------
incl. 217.5 222.0 4.5 6.07
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DO-11-72 707,850 115.5 128.0 16.5 0.59
----------------------------------------------------------------------------
141.5 150.5 9.0 0.31
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DO-12-75 708,150 68.0 110.0 42.0 0.12
----------------------------------------------------------------------------
169.0 170.5 1.5 0.65
----------------------------------------------------------------------------
188.5 190.0 1.5 3.37
----------------------------------------------------------------------------
319.0 326.0 7.0 0.24
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DO-12-83 708,150 252.0 270.0 18.0 1.00
----------------------------------------------------------------------------
incl. 264.0 265.5 1.5 10.3
----------------------------------------------------------------------------
292.0 294.0 2.0 0.65
----------------------------------------------------------------------------
313.5 315.0 1.5 0.74
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DO-11-78 708,375 99.0 100.5 1.5 0.51
----------------------------------------------------------------------------
308.0 310.0 2.0 0.45
----------------------------------------------------------------------------
342.0 368.0 26.0 0.30
----------------------------------------------------------------------------
incl. 358.0 361.0 3.0 1.12
----------------------------------------------------------------------------
387.5 389.0 1.5 0.78
----------------------------------------------------------------------------
446.0 451.0 5.0 0.61
----------------------------------------------------------------------------
incl. 446.0 447.0 1.0 1.04
----------------------------------------------------------------------------
Note: All holes drilled at a dip of 50 to 55 degrees. Intersections are
presented in true width drilled perpendicular to the mineralized zone.
Results for DO-11-70 were previously released (see December 21, 2011
release).
The Porphyry Zone is comprised of the "Adam 92-7" and the "Central" zones, that
host together (at a cut-off of 0.7 g/t Au) an Inferred Resource of 31.7 million
tonnes at 1.1 g/t gold (1.1 M oz. of gold) (source: SGS 43-101 Technical Report
for Aurvista, dated March 15, 2011). This resource estimate, calculated prior to
the step-out drill results presented in Table 1, was based upon a strike length
for the Porphyry Zone of approximately 2.5 kilometres.
"We are excited with the results from our winter drill program at the Douay
Project." said Rick Adams, President and CEO of Aurvista. "This program was
designed to extend the known gold resources in the Porphyry Zone. These results
demonstrate a 30% increase in the strike length of the Porphyry Zone, and this
Zone remains open to the East, West and at depth."
The Company has now completed its 2011/2012 winter drill program. This program
included 35 diamond drill holes totaling 12,529 meters. Assay results are
pending for 12 holes. Results for these holes will be released once they have
been received and interpreted.
Aurvista intends on issuing a revised 43-101 Technical Report (with an updated
resource estimate) at the end of the second quarter of 2012. This updated
resource estimate will include both the results from the 2011/2012 winter
drilling program noted above (35 diamond drill holes totaling 12,529 meters) and
the results from the 2010/2011 drill program completed by Aurvista (54 diamond
drill holes totaling 21,316 metres). In addition, the revised Technical Report
will use a lower cut-off grade competitive with neighbouring mineral deposits.
Qualified Person
Jean Lafleur, P. Geo., VP Exploration, is the Qualified Person responsible for
technical content of this release.
Quality Assurance
Aurvista implements an Analytical Quality Assurance Program to control the
analytical quality of assays in its exploration work. This program includes the
systematic addition of blank samples and certified standards to each batch of
samples sent for analysis at commercial laboratories. Blank samples are used to
check for possible contamination in laboratories while certified standards
determine the analytical accuracy and precision. Samples have been assayed at
the Laboratoire Expert Inc. in Rouyn-Noranda and at ALS Chemex Inc. in Val-d'Or.
Samples are assayed by fire-assay (30g) followed by atomic absorption according
to industry standards. Repeats are completed by fire-assay followed by
gravimetry on selected samples.
About Aurvista
Aurvista Gold Corporation is a junior gold exploration and development company.
Aurvista's principal asset is the 100% Douay Property, consisting of 218
contiguous claims totaling approximately 11,440 hectares located on the Casa
Berardi Fault containing a 43-101 compliant global Resource of 42.6 Mt at 1.29
g/t gold (1.8 M oz.) in the Inferred category and 905,000 t at 1.7 g/t gold
(49,000 oz.) in the Measured and Indicated category, at a cut-off of 0.7 g/t
gold. In addition to this Resource, the Douay West deposit hosts a Measured and
Indicated Resource of 313,000 t at 7.75 g/t gold (77,992 oz.) and an Inferred
Resource of 267,000 t at 8.53 g/t gold (73,187 oz.), at a cut-off of 4.0 g/t
gold.
Details of Aurvista's Douay Project can be viewed at the Company's website at
www.aurvistagold.com.
READER ADVISORY
Statements in this press release may contain forward-looking information
including, but not limited to, statements with respect to the Company's proposed
drill programs. In addition, information concerning the interpretation of drill
results may also be considered forward-looking statements as such information
constitutes a prediction of what mineralization might be found to be present if
and when a project is actually developed. Any statements that are contained in
this press release that are not statements of historical fact may be deemed to
be forward looking statements. The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be incorrect,
including but not limited to, the ability of the Corporation to raise sufficient
capital to pay the exploration and development costs on the properties, the
availability of skilled labour, availability of equipment, and future capital
and operating costs. Events or circumstances may cause actual results to differ
materially from those predicted, as a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of
the Company. Factors that could cause actual results to differ materially from
any forward-looking information include, but are not limited to, the risks of
capital and operating costs varying significantly from estimates, delays in
obtaining or failures to obtain required governmental, environmental or other
project approvals, inflation, commodity price and exchange rate fluctuations,
the uncertainty of estimates and projections relating to production, health,
safety and environmental risks, delays in the development of projects,
uncertainties relating to the interpretation of the geology, unanticipated
operational or technical difficulties and other factors. The reader is cautioned
not to place undue reliance on any forward-looking information. Such
information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially
from those anticipated. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.
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