Montreal, Quebec: Aurvista Gold Corporation (“Aurvista” or the “Company”) (TSX-V: AVA, OTC: ARVSF; Frankfurt: AV2) is pleased to announce the start of a ground UTEM-5 Geophysical Survey (the “Survey”) on the Douay Gold Project (“Douay”). Lamontagne Geophysics Ltd., of Kingston, Ontario, will initiate and complete the Survey over the next month on the most significant bedrock conductors at Douay: Anomalies “E”, “F” and “G”. Results will be made available by mid-Q1-2017.
As previously reported by Aurvista in August 2016, the Company had completed a 1,421 line-km airborne helicopter magnetic, time-domain electromagnetic (“TDEM”) and radiometric survey. The TDEM survey outlined 7 strong near surface conductive bedrock anomalies (“A” to “G”), all associated to the strongest EM-INPUTTM anomalies, 4 in proximity to the Casa Berardi Deformation Zone (“A” to “D”), NW of the Adam Creek Gold Deposit (the “Deposit”), and 3 in proximity to, and surrounding the ‘South Porphyry” (“E” to “G”), S of the Deposit. Characteristics of Anomalies “E”, “F” and “G” are summarized as follows:
|E||6km x 1km Cluster EM -INPUTTM anomalies, 750m due S of “Adam-Porphyry”, due W of “South Porphyry, bounded to the E by the “20” Zone||950m x 100m||
|450m x 200m middle offshoot trending E-W; DDH DO-92-24 (“20” Zone), 300m E with semi-massive pyrite stringers in chlorite “feeder-pipes” / 73m (77m to 150m) plus altered basalt / 39.62m (41.15m to 80.77m) with 0.55 g/t gold; DDH DO-11-34, 500m N of cluster, 300m NW of DO-92-24, with pyrite stringers in chlorite “feeder-pipes” / 55.5m (28.5m to 84m)|
|F||1,700m due S of “E”||1,500m x 200-250m||100°||3 conductive peaks from small to large; peak conductor drilled (1987) with 9 holes, intersected black argillites in basalts: 0.08% Copper / 15.47m from 57.20m to 72.67m, including 0.57% Copper / 0.5m from 57.20m to 57.70m (DDH BD-8106)|
|G||300m due S of “South Porphyry”||2,600m x 500m||150°||Contiguous to, parallel to the Adam Creek Gold Deposit|
Anomaly “E” is the most significant since it is located in proximity to the gold bearing “Main Porphyry”, the “South Porphyry” and the “Adam-Porphyry”. There are chlorite-sulphide bearing “feeder pipes” nearby as observed in drill holes DO-92-24 and DO-11-34, typically found in association with massive sulphide mineralization, yet to be found at Douay. The historical drill holes DY-99-04, 05 and 06, 46878-0, 46899-9 and 0, 64487-0, 468880-0 and D-92-32 skimmed the anomaly by drilling above or holes were too short, but explained the conductive source as graphite. There is no graphite in the re-logged drill core.
Anomalies “F” and “G” are larger in size but are believed, based on nearby re-logged drill core from the Phase 1 program, to be related to sulphide mineralization. However, laminar graphite was observed in centimeter-wide shear zones in core from the Anomaly “F” area.
The UTEM Survey(from www.lamontagnegeophysics.com)
UTEM is an acronym for University of Toronto Electro-Magnetic system. It is a wide-band time-domain electromagnetic (“EM”) system, which uses a large fixed transmitter loop and a moving receiver. It is different from other EM systems in that it can detect good EM conductors in the presence of poorer ones. The UTEM system measures the EM response while the transmitter field is changing (on-time measurements). UTEM sees both the freely decaying and directly driven part of the magnetic field. It is this second aspect that makes UTEM unique and so important in detecting and characterizing extremely conductive deposits such as massive sulphides.
The field procedure consists of first laying out a large loop of a single strand insulated wire and energizing it with a current from a transmitter powered by a motor generator. The loop is either square or rectangular shaped with sides between 300 meters and 4,000 meters long. At Douay, the loops are 1,500 meters by 1,200 meters. Survey lines are generally oriented perpendicular to one side of the loop and surveying can be performed both inside and outside the loop. At Douay, readings are off loop as the targets are thought to be steeply dipping. The UTEM receiver gathers and records a number of channels of data at each station simultaneously reading all three components. The higher number channels correspond to high frequency, while the lower number channels correspond to low frequency. Therefore, poor or weak conductors will respond on higher channels. Progressively better conductors will give responses on progressively lower number channels. Massive and highly conducting sulphides or graphite will produce a response on all channels, with graphite showing more linear anomalies and massive sulphides being more compact.
About Aurvista Gold Corp.
Aurvista Gold Corporation is a junior gold exploration and development Company with 130,689,121 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, for the now termed Adam Creek Gold Deposit. The deposit 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 2.5 million 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).
Following the closing of the $6 million financing on November 15, 2016, the Company finalized the priority targeting of the initial 3,700 meters in 7 drill holes of the Phase 2 Drilling Program. The first targets were selected on the basis of their potential to prove up new and additional gold mineralization in the Douay West – Northwest - Adam Porphyry - Central Zones sector. Drilling and the UTEM Survey results will be incorporated in the 3-D geological model to add more drilling targets with the objective of increasing the overall quantity and quality of mineral resources of Douay. Details can be viewed on the Company’s website at www.aurvistagold.com.
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.
For further information please ontact:
Mr. Jean Lafleur, P. Geo.
President and CEO, Director
Cell: +1 514 927 3633
Mr. Keith C Minty, P. Eng., MBA
Chief Operating Officer
Phone: +1 416 682 2671
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.
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.