Combined zone consisting of the pre-existing Douay West and Adam-Porphyry zones, now termed the Douay West Gold Project contains a current Mineral Resources (at a cut-off grade of 3 g/t gold) of:
828,000 tonnes @ 5.78 g/t gold for 153,890 ounces in the Indicated category
564,000 tonnes @ 16.69 g/t gold for 302,620 ounces in the Inferred category
Toronto, Ontario – Aurvista Gold Corporation (“Aurvista” or the “Company”) (TSX-V: AVA, OTC: ARVSF) is pleased to announce the new Gold Zone being called the Douay West Gold Project. The Douay West Gold Project is a combination of the pre-existing Douay West Zone combined with the Adam-Porphyry Zone. The Company would also like to update shareholders and stakeholders on the Company’s ongoing Generative Exploration Program for the Douay Gold Project (“Douay”) highlighting the recent interpretative work at the prospective Douay West Zone.
Jean Lafleur, President and CEO of Aurvista stated “Aurvista has diligently been working since early December 2014 under the Generative Exploration Program on the compilation, synthesis and interpretation of the nearly 40 years of exploration data accumulated at Douay from the extensive geophysical and geological work done by Inco, Vior, SOQUEM, Cambior, Aurizon and more recently Aurvista. There are a number of trends that may have a significant impact on the upside potential at Douay.”
“In addition and as part of this work the known gold zones have been re-examined for their higher grade potential but also re-examined from a perspective driven by the recent Preliminary Economic Assessment of bringing Douay West into production. In order to achieve a future saleable Feasibility Study the life of the Douay West operation will likely need to be extended to 10 years, or reserves of 350,000 to 500,000 ounces assuming a 35,000 to 50,000 ounces per year operation. As part of the Generative Exploration Program we noticed that one of the trends is a branch or fault of the Casa Berardi Deformation Corridor which links the Douay West and Adam-Porphyry zones. Aurvista now considers the two pre-existing zones – the Douay West and the Adam-Porphyry zones - which are geologically linked as being the logical place to look for expanding or upgrading the mineral resource base.”
“Aurvista remains committed in its efforts of increasing and improving the quality of the current mineral resources at Douay beyond the Indicated and Inferred categories already defined, as well as uncovering new gold and/or base metal mineralization.”
The New Douay West Gold Project
While reviewing the mining scenarios outlined in the Preliminary Economic Assessment (“PEA”) of the Douay West Zone (refer to the Company news releases dated December 9, 2014 and January 22, 2015), Aurvista management recognized that in order to deliver a positive and bankable Feasibility, a minimum mine life of 10 years or mineral reserves of between 350,000 to 500,000 ounces with an equivalent 10 years of mineral resources was required. The Generative Exploration Program has outlined two distinct populations of lineaments (refer to the appended Figure 1); one with E-W and NW-SE directions (in black), considered to belong to a pre- and/or syn-mineralizing event ascribed to the Casa Berardi Deformation Zone (“CBDZ”); the second set with a dominant NE-SW direction (in red), likely belongs to a post-mineralizing or post-deformational event typically ascribed to late diabase or gabbro dykes commonly observed in the region.
One of the E-W trending subsidiary faults of the CBDZ links the Douay West Zone to the Adam-Porphyry Zone, located 1.5 km to the east. Both zones have affinities to the Douay Syenite Porphyry (the “Porphyry”): the former sits at the boundary of the Porphyry, whereas the latter sits within the Porphyry.
The Individual Zones
The pre-existing Douay West Zone, as defined by more than 150 diamond drill holes, is oriented approximately NW-SE with a moderate to steep southerly dip. The mineralization varies from a few centimetres to more than 30 metres in true width, is at least 175 meters long in horizontal length, and is known to a minimum vertical depth close to 300 meters, remaining open at depth and along strike. The gold sits within mafic volcanics and intrusive rocks (syenite). The mineralized rock is bleached white to beige due to the albite, ankerite and sericite with a reddish tinge due to the hematite. Pyrite is the dominant sulphide ranging from 1% to 40%. Typical gold grades include: 3.0 g/t gold over 47.1 meters, including 5.6 g/t gold over 7.5 meters (D-112); 4.2 g/t gold over 13.9 meters (DO-14-141); and 3.9 g/t gold over 30.5 meters, including 17.0 g/t gold over 5.0 meters (DO-14-145).
At a 3 g/t gold cut-off*, the Douay West Zone contains 828,000 tonnes @ 5.78 g/t gold (153,890 ounces of gold) in the Indicated category and an additional 181,000 tonnes @ 4.87 g/t gold (28,420 ounces of gold) in the Inferred category.
The pre-existing Adam-Porphyry Zone is associated with the Porphyry located due east of, and within, 1.5 km of the Douay West Zone. Some 85 holes were drilled to define the zone as well as the remaining Porphyry mineralization with the deepest drill intersection at -400 meters vertical depth. The zone is up to 100 meters true width, extends for at least 900 meters in length as it is linked to the remaining known Porphyry mineralization for 1.8 km to the east. It remains open at depth.
The pre-existing Adam-Porphyry Zone contains disseminated sulphides (pyrite) and stockworks of carbonates and/or K-feldspar and/or fluorite, with ankerite, barite, anhydrite, fluorite, albite, K-feldspar, clays and/or sericite as the alteration minerals in the host Porphyry. The gold tends to be disseminated throughout, closely linked to the presence of barite-anhydrite and sulphides. The typical mineralization shows both lower grade wide haloes encapsulating higher grade gold as exemplified by DO-12-97 which intersected 1.07 g/t gold over 183.0 meters that included two higher grade lenses of 4.75 g/t gold over 3.0 meters and 9.0 g/t gold over 9.0 meters with a sub-lens of 32.5 g/t gold over 1.5 meters.
At a 3 g/t gold cut-off*, the Adam-Porphyry Zone 383,000 tonnes @ 22.29 g/t gold (274,200 ounces of gold) in the Inferred category.
Mineral Resources and future exploration
The mineral resources encompassing the pre-existing Douay West and Adam-Porphyry zones, now under the Douay West Gold Project, at a 3 g/t gold cut-off*, stand at 828,000 tonnes @ 5.78 g/t gold for 153,890 ounces in the Indicated category, and an additional 564,000 tonnes @ 16.69 g/t gold for 302,620 ounces in the Inferred category. The mineralization is open at depth beyond -300 meters vertical at Douay West and -400 meters vertical at the Adam-Porphyry.
Combining the two proximal zones could potentially have a positive impact on the economics of any potential mining project (because of the higher grades of the Adams Zone). It offers immediate upside potential by demonstrating a larger mineral resource base from which to define the minimum 10 years of mineral reserves and an equivalent 10 years of mineral resources for any future mining scenarios.
As one of the priority targets being generated by the Generative Exploration Program, a two-phased drill program (35 drill holes / 13,000 meters) is proposed for the new Douay West Gold Project with the objective of increasing the quantity and quality of the current mineral resources. The priority ranking of these targets has not yet been determined and the drill program will be dependent on the completion of a financing.
(1) Phase 1– Douay West and Adam-Porphyry corridor: 13 drill holes in 3 or more fences for 5,000 meters in delineation drilling along the 1.5 km trend of the combined zone;
(2) Phase 2 – Definition: 22 drill holes for 8,000 meters in definition drilling to increase the quantity and quality of the current mineral resources of the Douay West and Adam-Porphyry zones.
The technical contents in this news release have approved by Mr. Jean Lafleur, M. Sc., P. Geo., President and CEO for Aurvista Gold Corporation, a Qualified Person under National Instrument 43-101.
* Mineral Resources reported in this news release were previously estimated and outlined in a NI 43-101 Technical Report by C. Duke, P. Eng., of Riverbend Geological Services Inc., filed under the Company's profile on SEDAR at www.sedar.com on August 16, 2012, all in accordance with the definitions contained in the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves Definitions and Guidelines that were prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council on November 27, 2010. Of note, tonnes and ounces have been rounded as per NI 43-101 standards.
About Aurvista Gold
Aurvista Gold Corporation is a junior gold exploration and development company with 69,511,617 shares outstanding trading on the TSX Venture Exchange in Canada and OTC Pink Sheets in the U.S. Aurvista's only asset is the Douay Gold Project totaling 287 claims for 145.3 km2. Of the total, 32 claims for 11.9 km2 form the North West Zone and are in a joint venture with SOQUEM (75% Aurvista, 25% SOQUEM). The project is located along the gold-bearing Casa Berardi Deformation Zone in northern Quebec. Details can be viewed on the Company’s website at www.aurvistagold.com.
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.
For further information please contact
Jean Lafleur, M. Sc., P. Geo.
President and CEO
Cell +1 514 927 3633
Facsimile +1 416 504 4129
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