Aura Minerals Announces Updated Resource and Reserve Estimates for Brazilian Gold Mines

- November 11th, 2011

Aura Minerals Inc. (TSX:ORA) announced updates to mineral estimates for its Brazil-based São Francisco and São Vicente Mines.

Aura Minerals Inc. (TSX:ORA) announced updates to mineral estimates for its Brazil-based São Francisco and São Vicente Mines.

As quoted in the press release:

The reinterpretation of the geological model and the use of updated mine design parameters, including a higher mineral resource and reserve cut-off grade of 0.25 g/t gold for dump leach ore (“DLO”) and 0.40 g/t gold for crushed gravity ore (“CGO”), have resulted in a reduction in the mineral resource and reserve estimates at the São Vicente Mine.

Aura’s President and CEO, Jim Bannantine said:

While we are disappointed that the reduced mine lives and the lower grades at the São Francisco Mine will reduce total recoverable ounces, the new optimized pits have been designed to lower cash costs7 and decrease operational risk at these operations. We also continue to look at other opportunities to optimize efficiencies and increase gold production from these mines.

Click here for the Aura Minerals Inc. (TSX:ORA) press release.

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