 |
|
| | September 03, 2009
Mineral Intercepts At Second Target Zone Confirm Potential For Large Scale Silver Mineralization
|
| | Press Release #09-06
Aura Silver Resources Inc. (TSX-V:AUU) ("Aura Silver" or the "Company") is pleased to report results of the latest assays from its Taviche JV Project, Oaxaca, Mexico (with Intrepid Mines; TSX:IAU). Holes HBAD06-09 to HBAD08-09 were designed to test the Santo Nino target on the Alma Delia Concession located 800 meters to the southeast of the reported drilling (press release dated August 14, 2009; holes HBET01 to HBET03) on the Mezcal structure (refer to attached Diagram). This second set of holes is part of the widespread testing of the seven kilometer long Higo Blanco jasperoid trend and is intended to confirm the large scale potential for a silver deposit.
The holes HBAD06 to HBAD08 tested near surface silver mineralization found in prior trenching and surface sampling programs. All holes at Santo Nino encountered broad zones of well developed silicified breccias with widespread pyrargyrite (containing approximately 60 wt% silver). Significant silver mineralization was encountered in both -06 and -08. Mineralization was prevalent for the first 50 meters of core in HBAD06 with a 5.5 meter interval measuring 202.4 grams per tonne (g/t) silver equivalent and a gold interval of 1.25 meters measuring 0.69 g/t at a depth of approximately 70 meters. HBAD08 encountered 1.14 kilograms/t silver equivalent over 0.95 meters at approximately 64 meters. The Higo Blanco complex clearly contains extensively developed gold (Au) and silver (Ag) mineralization along strike from the previously reported hole HBET03 to holes HBAD06 and 08 (a distance of approx. 800 meters). Much of the silver mineralization occurs in brecciated silica replacement of limestone, but a more gold-rich part of the system is associated with extensive quartz veining in the adjacent volcanic strata.
Drill holes HBET04-09 and HBET05-09 were designed to determine the location of the mineralization below HBET02 and HBET03. These holes revealed that the silver mineralization probably plunges to the southwest, and is controlled by the intersection of stratigraphic (limestone) and structural (Mezcal fault) elements. Limestone is the key reactant that caused the silver to precipitate and the prominent Mezcal structure controlled the fluid discharge. This intersection seems to be to the west and down-plunge from hole HBET03. The next phase of drilling will be designed to follow the down-plunge extension of this key intersection. The combination of stratigraphic and structural control is similar to that for the gold-rich deposits along the Carlin trend in Nevada. HBET09-09 was designed to test the eastern side of the Cerro La Mina prospect several hundred metres northeast of holes HBET01 to -05. No significant mineralization is reported in this hole. Overall, the structural and stratigraphic complexity and abundance of extensive hydro-brecciation in the Higo Blanco area point to a very large mineralized system.
Based on this preliminary assessment of the Higo Blanco property, there are two distinct and adjacent targets: a gold-enriched vein and breccia system (as observed in the holes drilled to date) to the west in the volcanic strata, and a substantial silver-rich target hosted in multistage, silicified limestone breccias hosting minor, but significant pyrargyrite and native silver (HBET02, HBET03, HBAD06, HBAD07 and HBAD08). Statistical analysis of the assay results indicates that antimony is strongly correlated with silver, and is an excellent pathfinder element for it, whereas the pathfinder for gold is arsenopyrite.
A diagram detailing the positioning of all Phase I drill holes is as follows:
Robert Boaz, President and CEO of Aura Silver stated, "We are excited about these additional results as they confirm the large scale potential of Higo Blanco's mineralization. We are currently in the process of planning a Phase II drill program consisting of a minimum of 3,000 meters. The Phase II program will further define the geologic structure from the Piedra del Sapo prospect to Santo Nino which occurs over a five kilometer strike length."
The following table presents assay data separated into the Ag zone (silicified limestone) and Au zone (volcanic-dominated zones).
Hole |
Sample |
From
(m) |
To
(m) |
Length*
(m) |
Au
(g/t) |
Ag
(g/t) |
AgEq**
(g/t) |
HBAD-06 |
|
|
|
|
|
|
|
Ag Zone |
2858-2862 |
44.20 |
49.65 |
5.45 |
0.020 |
201.5 |
202.4 |
Including |
2861 |
47.20 |
48.40 |
1.20 |
0.020 |
339.0 |
339.0 |
|
|
|
|
|
|
|
|
Au Zone |
2881-2882 |
66.95 |
68.20 |
1.25 |
0.690 |
6.8 |
47.9 |
Including |
2882 |
67.70 |
68.20 |
0.50 |
0.950 |
9.6 |
66.6 |
|
|
|
|
|
|
|
|
HBAD-07 |
|
|
|
|
|
|
|
Ag Zone |
2898-2902 |
13.65 |
18.00 |
4.35 |
0.100 |
71.1 |
77.1 |
Including |
2901 |
16.25 |
18.00 |
1.75 |
0.148 |
95.6 |
104.5 |
|
|
|
|
|
|
|
|
HBAD-08 |
|
|
|
|
|
|
|
Ag Zone |
2943 |
63.85 |
64.80 |
0.95 |
0.056 |
1,140.0 |
1,143.4 |
* Intervals shown are downhole intervals. True widths are not yet known in the initial phase of drilling.
** Silver equivalent for the purposes of this drilling program is defined as silver grade plus 60 times gold grade. Metallurgical recoveries and net smelter returns are assumed to be 100 per cent for the silver equivalent value. Base metal values are not included in the silver equivalent
Core samples collected by the Taviche JV have been analyzed by SGS Labs in Durango, Mexico for multi element geochemical analyses by ICP-OES (40 element), gold by fire assay and AAS finish (>0.005 g/t) and silver by AAS (>0.3 g/t). Silver values in excess of 300 g/t are re-run by fire assay. Every 10th sample, a blank is included while every 25th sample is a known standard.
Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person (as defined by National Instrument 43-101) and has reviewed and approved the scientific and technical information in this press release.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada (Greyhound Lake) and in Oaxaca, Mexico. The Company has 40,104,402 common shares outstanding.
For further information contact: Robert Boaz, President and CEO (905) 403-8010 or by e-mail at boaz@aurasilver.com. Aura Silver's web site is located at www.aurasilver.com.
FORWORD LOOKING STATEMENTS
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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 release.
View News Release in PDF Format:
|
| |
| |
| | You can view the Next News Releases item: Mon Oct 5, 2009, Aura Silver Announces Commencement Of Phase II Drilling: New Interpretation Leads To Greatly Enhanced Prospectivity Along 6 KM Of Silver-Gold Trend
You can view the Previous News Releases item: Fri Aug 14, 2009, Aura Silver Drills Silver Rich Discovery Hole - 12.1 Meters of 533 G/T Including 1.3 Meters of 2.5 Kilograms/T Silver Equivalent at Shallow Depth
You can return to the main News Releases page, or press the Back button on your browser.
|
| |
|
