Aura Resources Inc. (TSX-V:AUU) (“Aura” or the “Company”) is pleased to announce analytical results from a district-wide surface rock sampling program at its recently acquired Jefferson Canyon project (JCP). The goal of the program was to provide support to earlier due diligence sampling (see June 4, 2019 press release) which yielded high-grade results where historical reverse circulation drilling encountered significant gold and silver mineralization (see March 1, 2019 press release). The JCP consists of 57 unpatented claims located about 9 km northeast of Kinross’ Round Mountain gold mine in Nye County, Nevada. The project comprises a large volcanic-hosted epithermal Au-Ag system similar in style and age to the nearby Round Mountain deposit, one of the world’s largest low-sulfidation (LS) epithermal deposits. Both are hosted in felsic ash-flow tuffs along the margins of calderas and both are defined by a strong northwest-trending structural control to mineralization.
Gold and silver values from the 47 rock samples (see Table 1) collected by Aura in 2019 are shown in Figures 1 and 2, respectively, in context with historical samples from the JCP database (total of 836 samples). The gold results support the aerial expansion of the B Zone several hundred metres to the north. Additionally, significant gold and silver mineralization was identified in a broad area in the northwest part of the project (NW Gold Zone) measuring several hundred metres across. The five samples collected here are anomalous with values up to 15.2 g/t Au and 421 g/t Ag.
Robert Johansing, President and CEO of Aura, states, “Our recent rock sampling at Jefferson Canyon provides Aura with additional confidence in the expansion of the historical ‘B Zone’ to the north for several hundred metres. The identification of strongly anomalous gold and silver values associated with clay and fine-grained silica in the NW part of the project area provides Aura with an additional area for exploration”.
The NW Gold Zone requires additional mapping and sampling which will be undertaken in 2019 prior to the winter. These emerging anomalies will be integrated with the historical reverse circulation drill data to define new drill targets. Target definition will be used for permitting of a diamond drilling program scheduled for 2020.
Table 1. Summary of Aura’s 2019 rock sampling program.
Figure 1. Topographic base of the Jefferson Canyon project showing gold values for both Aura’s 2019 sampling (triangles) and historical sampling (circles).
Figure 2. Topographic base of the Jefferson Canyon project showing silver values for both Aura’s 2019 sampling (triangles) and historical sampling (circles).
All samples were collected by Robert Johansing, Aura’s Qualified Person and Marco Montecinos, Consulting Geologist. Standard sample chain of custody procedures were employed during field work until delivery to the analytical facility. All samples were analyzed by American Assay Laboratories (AAL) Inc. of Sparks, Nevada. Gold was analyzed by fire assay with ICP finish; silver was analyzed using ICP methods. Both gold and silver over limits were analyzed using gravimetric methods. Standards, blanks and duplicates were inserted in the sample batch by AAL.
Robert Johansing, M.Sc. Econ. Geol., P. Geo. is a qualified person as defined by NI 43-101 and has reviewed and approved the technical content of this press release.
Aura is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Arizona, USA (Gold Chain project, subject to an option to earn a 100% interest), in Nevada, USA (Jefferson Canyon project, subject to an option to earn 100%), in Nunavut, Canada (43.54% interest in the Greyhound project under operation by our partner, Agnico Eagle Mines Limited), and, in Oaxaca, Mexico (20% owned Taviche project, operated by Minaurum Gold Inc.). Aura has 32,860,128 common shares outstanding.
For further information regarding this press release contact: Robert Johansing, President and CEO at (805) 455-4775 or by e-mail at firstname.lastname@example.org. Aura’s web site is located at www.aurasilver.com.
This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, the private placement financing activities of the Company, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Aura does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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