Montreal, Quebec: Aurvista Gold Corporation (“Aurvista” or the “Company”) (TSX-V: AVA, OTC: ARVSF; Frankfurt: AV2/A1JL1Z ) is pleased to announce the start of the Summer 2016 exploration program at the Company’s wholly-owned Douay Gold Project following the closing of the C$1.1 million financing. The Company plans a two-staged exploration campaign on the Project for the period June to September 2016 (refer to the Company news release dated June 14, 2016) with the prime objective of determining the best of the 25 defined targets with a view of significantly increasing the current Mineral Resource estimates*.
The First Stage campaign will complete the Priority Targeting Program (the “Program”) in two areas where management is confident additional gold mineralization will be uncovered, the first being in the 10 km by 3 km wide (at its longest and widest points) SE-tilted parallelogram-shaped polygon enclosing the Douay-Style Mineralization (“DSM”) containing all the known gold zones (“Douay West”, “10”, “20”, “531”, “Central”, “Main”, “NW”, “Porphyry” and the “South Porphyry”) and current Mineral Resource estimates*; and second, the 6 km by 1 km wide cluster of EM INPUTTM anomalies conductors running along the southwest boundary of the DSM that have affinities to Volcanogenic Massive Sulphide or VMS mineralization associated with gold.
The Second Stage campaign will consist of a 4,000 meters of drilling to delineate additional gold and/or copper-gold mineralization on the best targets.
The Summer Program will include completing an airborne geophysical Magnetic, Electromagnetic and Radiometric survey of the central portion of the Douay Project to define key contacts, faults and porphyry linked to gold and any potential base metal bearing massive sulphide lenses within the 6 km by 1 km Copper-Gold corridor to a depth of -150 metres; re-logging selective previous and historical drill core for litho-geochemical and thin section work along key gold mineralized and non-mineralized sections across the Douay Project, all to define the chemical signatures and alteration mineralogy of the known gold and/or base metal mineralization, helping with the airborne geophysical survey in the vectoring towards additional mineralization; and the drilling of the best priority targets that could potentially lead to the expansion of, and better quality, mineral resources.
The main gold target at this time is the Porphyry Target that extends some 8 km in length, of which 3 km to the NW of the Adam Porphyry Zone, bordered by the Douay West Zone and the NW Zone, is largely untested. The Porphyry Target, encompassing the Adams Porphyry - at a 3 g/t gold cut-off, the Adams Porphyry contains 383,000 tonnes grading 22.29 g/t gold in the Inferred category within lower grade Mineral Resources estimates* of 55.1 million tonnes at 1 g/t (at a 0.5 g/t cut-off) also in the Inferred category. The NW Zone contains 1 million tonnes grading 2.71 g/t (at a 0.5 g/t cut-off) in the Inferred category. The overall gold potential of the Porphyry Target is significant and Aurvista is committed to drilling this sector potentially adding to the current Mineral Resource estimates*. Drilling success could potentially increase the size and quality of the Mineral Resources.
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 Resource estimates reported in this news release were previously estimated 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 Corp.
Aurvista Gold Corporation is a junior gold exploration and development Company with 85,689,121 shares outstanding trading on the TSX Venture Exchange in Canada, the Frankfurt Stock Exchange and OTC Pink Sheets in the U.S. Aurvista's only asset is the Douay Gold Project totaling 287 claims for 145.3 km2. 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.
For further information please contact:
Mr. Jean Lafleur, P. Geo.
President and CEO, Director
Cell +1 514 927 3633
Mr. Bryan Keeler
Chief Financial Officer
+1 416 504 4126
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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.