Aura Silver Resources Inc. (TSX-V: AUU) (“Aura Silver” or the “Company”) is pleased to report that drilling will resume on our Greyhound property located in Nunavut Canada. In April, Agnico Eagle Mines Limited (“Agnico Eagle”) will begin a program to follow up on 2015 results where mineralization of 6.41 g/t gold (check assay resulted in 7.4 g/t gold) was intersected over 1.5 metres at the bottom of a drill hole at a vertical depth of approximately 137 metres (see November 24, 2015 press release). In accordance with the terms of the existing option agreement, Agnico Eagle will cover all costs of this drilling and associated work. This gold intercept lies within a quartz stock-work zone of 15 metres of core length. The upcoming program is anticipated to comprise approximately 1,500 metres of drilling within 8-10 drill holes.
“The potential for success of future work following up on the discovery of high-grade gold (multiple one ounce per ton samples) and silver boulders (some in excess of 5,000 grams per tonne) is exciting” says President and CEO Robert Boaz. This will be the third drill program on the project conducted by Agnico Eagle. All permits required to initiate drilling are in place.
In addition to ongoing exploration, the core Greyhound project claims are in the process of being converted to a mining lease.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada (100% owned Greyhound project under option to Agnico Eagle) and in Oaxaca, Mexico (100% owned Taviche project). Aura Silver has 128,116,558 common shares outstanding.
Mr. Paul Pitman, B.Sc., P.Geo. is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release regarding the Greyhound project.
For further information regarding this press release contact: Robert Boaz, President and CEO at (905) 403-8010 or by e-mail at firstname.lastname@example.org. Aura Silver’s website 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 Silver 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.
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.