Aura Silver Resources Inc. (TSX-V: AUU) (“Aura Silver” or the “Company”) is pleased to report that drilling has resumed on our Greyhound property located in Nunavut Canada. Agnico Eagle Mines Limited (“Agnico Eagle”) has begun a program to follow up on results just east of Aura Lake 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 (please see November 24, 2015 press release). This gold intercept lies within an altered zone composed of quartz-stock work of 15 metres of core length. In addition, two drill holes to the northeast of Aura Lake and to the north of our Dingo project will determine the potential of a 15.0 gram per tonne gold sample taken from a quartz vein structure on surface.
In accordance with the terms of the existing option agreement, Agnico Eagle will cover all costs of this drilling and associated work. This will finalize the earn in agreement that requires a total of $1,750,000 to be spent on the property by May 31, 2017, at which point Agnico Eagle will acquire 51% of the Greyhound property. The current program is anticipated to comprise approximately 1,500 metres of drilling within 8-10 drill holes at a total exploration cost of about one-half million dollars.
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.
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.
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 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 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.