Aurvista Gold Corporation (“Aurvista” or the “Company”) (TSX VENTURE:AVA)(OTCQB:ARVSF)(FRANKFURT:AV2) is pleased to provide an update on current and planned exploration work at the Douay Gold Project (“Douay” or the “Project”). The Company’s Technical Advisory Committee (the “Committee”) has spent significant time reviewing Project data, visiting site and working with the Company’s geologic consultants to develop … Continued
Brownfields and Greenfields Potential at Douay
Aurvista controls a large 40+ km long segment along the Casa Berardi Deformation Zone (the “CBDZ”) (see press release September 5, 2017), one of several regionally productive structural “breaks” within the Abitibi Greenstone Belt, and host to multiple gold and base metal deposits (see Figure 1 below). A central, ~7km long portion of this segment on the CBDZ North Break hosts defined Inferred Mineral Resources (the “Douay Resources”) totalling 2.8 million ounces of gold (83.33 Mt @ 1.05 g/t Au, using a 0.5 g/t cut-off; Micon, 20171).
This brownfields area contains two distinct styles of gold mineralization, as well as copper-zinc associated with volcanogenic massive sulphide (“VMS”) mineralization. Gold mineralization hosted by altered mafic volcanics is generally of higher grade, occurring in zones such as Douay West (4.47 Mt @ 2.36 g/t Au; Micon, 2017), whereas gold hosted by altered porphyritic rocks forms large lower-grade zones such as the Porphyry Zone (72.16 Mt @ 0.96 g/t Au; Micon, 2017). The Douay Resources are open along strike and plunge, such that brownfields exploration potential for resource expansion is considered excellent.
The remaining majority portion of the Project remains relatively unexplored, despite its location along a major regional structure. This greenfields area is considered to have potential not only for VMS and mafic- and porphyry-hosted gold mineralization, but also for other styles of mineralization such as occurs deposits elsewhere along the CBDZ and in the region (i.e. Casa Berardi, Estrades, Eagle – Telbel, Vezza, and Sleeping Giant; Figure 1).
The Company has revised its exploration plans to capture both the brownfields and greenfields potential of the project. A thorough review and analysis of all existing geological, geochemical and geophysical data is in progress, which combined with generation of new data from re-logging and sampling programs, will be used to produce a comprehensive exploration strategy and diamond drilling plan during Q4 2017.
1 The independent Technical Report was completed by Micon International Limited (“Micon”), titled “NI 43-101 F1 Technical Report, Updated Resources Estimate for the Douay Gold Project, Douay Township, Quebec, Canada” dated April 10, 2017, filed April 11, 2017, with an effective date of February 15, 2017: http://www.aurvistagold.com/images/pdf/2017/Aurvista-Douay-Project-FinalA.PDF
Aurvista’s President and CEO, Matthew Hornor, stated: “We believe the potential for defining additional resources and making new high-grade gold discoveries are very favourable based on the existing resource, large property package and prospective geology. Our technical team has developed a strategy and program that will establish high-quality drill-targets beyond the known resource areas, and we will commence our diamond drilling campaign in the coming months once we’ve refined our resource extension and greenfields discovery targets.”
To view Figure 1: Regional Map Highlighting Aurvista Gold’s Property Package, please visit: http://media3.marketwire.com/docs/1102103_figure_1.jpg.
Historical Drill-Core Re-logging & Assaying Program
The Company is very fortunate to have more than 220,000 metres of drill core archived onsite, covering all the drill programs back to the initial discovery by Inco Gold in 1976. The Company’s exploration team has re-logged much of this historical core over the past 18 months, significantly simplifying the geological model and improving understanding of controls on gold and base metal mineralization. Completing this exercise by re-logging the remaining ~27,000 metres is a critical step that will provide valuable targeting information for future exploration and drilling campaigns (see Figure 2). In addition to the improved geological and exploration models that will result from the re-logging, a significant amount of the historical drill-core was not assayed for gold. An initial 8,000 samples have already been collected, and during the final phase of re-logging another ~10,000 samples will be collected in the coming weeks. These new assays will help identify mineralization vectors and substantively improve geostatistical modelling of the Douay Mineral Resources. Sample assays will be completed by ALS Laboratory Group.
To view Figure 2: Highlighted Drill-Hole Locations (black) for Completion of Historical Core Re-logging Project, please visit: http://media3.marketwire.com/docs/1102103f2.jpg.
The Douay Project is covered by both airborne magnetic and airborne EM surveys that provide a solid basis for interpretation of stratigraphic and structural trends, coupled with the potential for direct detection of gold and base metal mineralization associated with conductive and magnetic features. The Company has decided that further expenditure on airborne geophysical data is not warranted at this time, although detailed ground surveys focused on specific targets will be considered for target definition.
Top-of-Bedrock RC Drill Program
Much of Aurvista’s prospective ground over the Casa Berardi Deformation Zone is covered by post-mineral glacial deposits, such that conventional soil sampling is ineffective at targeting bedrock anomalies. Aurvista’s technical committee has recommended a property-scale reverse circulation drilling (RC) or similar top-of-bedrock sampling program to provide critically important geochemical data, including characterization of lithologies, alteration and mineralization, for exploration vectoring and targeting. The geochemical results paired with the Company’s existing geophysical data sets, historical diamond drill-core re-logging and assaying work and top-of-bedrock sampling data, and updated exploration models will form the basis of a revised exploration diamond drilling plan.
Diamond Drill Program
The majority of the Company’s recently raised exploration funds (see press release July 14, 2017) will be budgeted for diamond drilling. This drilling is best conducted during the winter season to avoid costly helicopter-supported drilling on unfrozen ground. Following review and analysis of the extensive geological, geochemical and geophysical datasets available to the geological team, the Company anticipates commencing a revised and refocused diamond drilling campaign to test greenfields and brownfields targets once the Q3-Q4 exploration and interpretation work is completed.
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Jean Lafleur, M. Sc, P. Geo., Technical Advisory Committee member, a non-independent Qualified Person to Aurvista Gold Corp., who is responsible for ensuring that the geologic information provided in this presentation is accurate and acts as a “Qualified Person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Quality Assurance (“QA”) and Quality Control (“QC”)
Aurvista follows strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Douay covering core sampling and assaying; bagging of core for analysis; transport of core from site to the analytical laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company’s QA/QC page on the website at www.aurvistagold.com.
Douay Gold Project and Company Profile:
Aurvista Gold Corporation is a well-funded gold exploration and development company focused on advancing one of the largest undeveloped gold projects in Quebec. The Company’s district-scale Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec. The Project hosts an inferred gold resource that remains open in several directions, with excellent infrastructure and several large scale operating mines within 150km. The Douay Gold Project’s high-grade lenses have never been mined and the Company has property-wide exploration and drilling plans, with the aim of establishing high-quality ounces in one of the best mining jurisdictions in the world.
ON BEHALF OF AURVISTA GOLD CORPORATION,
B. Matthew Hornor, President & CEO
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.
Forward Looking Statements:
This news release contains forward-looking statements. Forward-looking statements are 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. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
VP, Corporate Development
Office: +1 416.682.2674