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AVA Avante Mining Corp

0.10
0.00 (0.00%)
16 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Avante Mining Corp TSXV:AVA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.10 0.095 0.105 0 01:00:00

Aurvista Drills 183.0 Metres of 1.07 g/t Gold at Douay Gold Project

16/04/2012 2:00pm

Marketwired Canada


THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.


Aurvista Gold Corp. ("Aurvista" or the "Corporation") (TSX VENTURE:AVA) is
pleased to announce the latest drilling results (refer to Table 1 below) from
the recently completed winter drill program conducted on the Porphyry Zone at
its wholly-owned Douay Gold Project ("the Project").


The drill results continue to confirm the grade and distribution of gold
mineralization along a 3,300 metre strike length of the Porphyry Zone, to
vertical depths of 300 to 400 metres. In addition, the Porphyry Zone remains
open to the East, West and at depth.


 Table 1: Significant Intercepts in the Centre Portion of the Porphyry Zone
 (listed from West to East)



----------------------------------------------------------------------------
                                From           To    True Width       Grade 
Drill Hole #                      (m)          (m)          (m)     Au (g/t)
----------------------------------------------------------------------------
DO-12-97                        255.0        438.0        183.0         1.07
----------------------------------------------------------------------------
incl.                           288.0        291.0          3.0         4.75
----------------------------------------------------------------------------
incl.                           304.5        313.5          9.0         9.00
----------------------------------------------------------------------------
              also incl.        306.0        307.5          1.5        32.50
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
DO-12-99                        109.0        112.0          3.0         0.31
----------------------------------------------------------------------------
                                151.5        219.0         67.5         0.28
----------------------------------------------------------------------------
                                193.5        196.5          3.0         1.32
----------------------------------------------------------------------------
                                214.5        216.0          1.5         2.05
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
DO-12-95                        112.0        148.0         36.0         0.24
----------------------------------------------------------------------------
                                167.5        172.0          4.5         0.86
----------------------------------------------------------------------------
                                199.0        255.0         56.0         0.85
----------------------------------------------------------------------------
incl.                           217.5        234.0         16.5         2.07
----------------------------------------------------------------------------
              also incl.        232.5        234.0          1.5         6.20
----------------------------------------------------------------------------
Note: All holes drilled at a dip of 53 to 58 degrees. Intersections are     
presented in true width drilled perpendicular to the mineralized zone.      



The Porphyry Zone hosts (at a cut-off of 0.7 g/t Au) an Inferred Resource of 1.1
million ounces of gold (31.7 million tonnes at 1.1 g/t gold; SGS 43-101
Technical Report dated March 15, 2011). This resource estimate, calculated prior
to the step-out drill results announced on March 28, 2012 (refer to the news
release titled Aurvista Gold Corp. Extends Gold Prophyry Zone an Additional 750
Metres to the East), was based upon a strike length for the Porphyry Zone of
approximately 2.5 kilometres.


"We are very pleased with these drill results." said Rick Adams, President and
CEO of Aurvista. "The results demonstrate the continuity and size potential of
the mineralized system, and highlight the bulk tonnage potential of the Porphyry
Zone." 


Aurvista plans to issue a revised NI 43-101 Technical Report (with updated
mineral resources estimate) at the end of the second quarter of 2012. This
updated resource estimate will include the results from the 2010/2011 and
2011/2012 drilling programs (89 diamond drill holes totaling 33,845 meters). In
addition, the revised Technical Report will use a lower cut-off grade
competitive with neighbouring mineral deposits.


Based on this revised Technical Report the Company will devise and plan its
2012/2013 drilling program which, at this time, is anticipated to include
testing possible extensions of the Porphyry Zone to the East, West and at depth.


Qualified Person

Jean Lafleur, P. Geo., Aurvista's VP Exploration, is the Qualified Person
responsible for technical content of this release.


Quality Assurance

Aurvista implements an Analytical Quality Assurance Program to control the
analytical quality of assays in its exploration work. This program includes the
systematic addition of blank samples and certified standards to each batch of
samples sent for analysis at commercial laboratories. Blank samples are used to
check for possible contamination in laboratories while certified standards
determine the analytical accuracy and precision. Samples have been assayed at
the Laboratoire Expert Inc. in Rouyn-Noranda and at ALS Chemex Inc. in Val-d'Or.
Samples are assayed by fire-assay (30 grams) followed by atomic absorption
according to industry standards. Repeats are completed by fire-assay followed by
gravimetry on selected samples.


About Aurvista

Aurvista Gold Corporation is a junior gold exploration and development company.
Aurvista's principal asset is the wholly-owned Douay Gold Project, consisting of
218 contiguous claims totaling approximately 114 km2 located on the Casa Berardi
Fault containing a NI 43-101 compliant Mineral Resource of 42.6 million tonnes
at 1.29 g/t gold (1.8 million ounces of gold) in the Inferred category and
905,000 tonnes at 1.7 g/t gold (49,000 ounces of gold) in the Measured and
Indicated category, at a cut-off of 0.7 g/t gold. In addition to this Resource,
the Douay West deposit hosts Measured and Indicated Mineral Resources of 313,000
tonnes at 7.75 g/t gold (77,992 ounces of gold) and an Inferred Resource of
267,000 tonnes at 8.53 g/t gold (73,187 ounces of gold), at a cut-off of 4.0 g/t
gold.


Details of Aurvista's Douay Project can be viewed at the Company's website at
www.aurvistagold.com.


READER ADVISORY 

Statements in this press release may contain forward-looking information
including, but not limited to, statements with respect to the Company's proposed
drill programs. In addition, information concerning the interpretation of drill
results may also be considered forward-looking statements as such information
constitutes a prediction of what mineralization might be found to be present if
and when a project is actually developed. Any statements that are contained in
this press release that are not statements of historical fact may be deemed to
be forward looking statements. The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be incorrect,
including but not limited to, the ability of the Corporation to raise sufficient
capital to pay the exploration and development costs on the properties, the
availability of skilled labour, availability of equipment, and future capital
and operating costs. Events or circumstances may cause actual results to differ
materially from those predicted, as a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of
the Company. Factors that could cause actual results to differ materially from
any forward-looking information include, but are not limited to, the risks of
capital and operating costs varying significantly from estimates, delays in
obtaining or failures to obtain required governmental, environmental or other
project approvals, inflation, commodity price and exchange rate fluctuations,
the uncertainty of estimates and projections relating to production, health,
safety and environmental risks, delays in the development of projects,
uncertainties relating to the interpretation of the geology, unanticipated
operational or technical difficulties and other factors. The reader is cautioned
not to place undue reliance on any forward-looking information. Such
information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially
from those anticipated. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.


The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.


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