Montreal, Quebec: Aurvista Gold Corporation (“Aurvista” or the “Company”) (TSX-V: AVA, OTC: ARVSF; Frankfurt: AV2) is pleased to report on the progress of the Phase 1 Detailed Targeting Program (the “Program”) from the Douay Gold Project (“Douay”). 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; September 7 and September 27, 2016).
To date, Aurvista has completed the re-logging of 299 historic core drill holes totaling 84,465 meters from all 28 of the planned N-S Douay-wide sections. These sections include mineralized and non-mineralized segments, as well as the ten known gold zones. There are 42 drill holes for 11,000 meters remaining to be re-logged from the “531”, “NW” and “Contact” (or the former “Pull-Apart”) zones. More than 95,000 meters in 341 drill holes are planned to be re-logged by the end of the Phase 1 campaign in late October. The Company will also rely on drill core from the 42,955 meters in 127 drill holes conducted by Aurvista from 2011 to 2015.
Over 3,160 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 individual drill core samples. In addition, the drill core is being analyzed geochemically using a hand-held XRF with more than 22,150 readings taken to date. It is estimated that an additional 5,000 readings will be taken. A total of 895 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. Some 168,930 readings were taken to measure the magnetic susceptibility and conductivity of drill core as part of the field validation of EM-INPUTTM and airborne TDEM conductors.
Mr. Jean Lafleur, President and CEO of Aurvista stated “The Phase 1 field portion of the Program is still expected to be completed by the end of October 2016. The remaining work will include receiving the assay results; completing the hand-held XRF and MPP readings; compiling, synthesizing and interpreting the geological, geochemical and geophysical databases; constructing a 3-D model of the gold mineralization at Douay; and finalizing the priority targeting for the initial 4,000 meters Phase 2 core drilling campaign planned in November and December of this year.”
Mr. Lafleur added “Aurvista also initiated a Douay-wide field mapping campaign, but primarily focused on an E-W trending corridor along the western extension of the now defined Adam Creek Gold Deposit, that encompasses the former Douay-Style Mineralization sector containing the 10 higher and lower grade gold zones associated with the nine individual E-W shear zones and three subparallel structural domains. To date some 50 grab samples were taken for gold-copper-zinc assay, whole-rock analyses of major and trace oxides, rare earth and trace elements. The mapping campaign will progress until the end of October.”
About Aurvista Gold Corp.
Aurvista Gold Corporation 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 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). 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
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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 Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.aurvistaGold.com.