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AVA Avante Mining Corp

0.10
0.00 (0.00%)
17 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 Provides Drill Results on the Porphyry Zone, Douay Property, Quebec-and Plans for 2012 Drilling Program

21/09/2011 2:00pm

Marketwired Canada


Aurvista Gold Corp. (TSX VENTURE:AVA) ("Aurvista" or "the Company") is pleased
to report the results of the Phase 1 drill program on the "Porphyry Zone",
located on its 100% owned (11,440 Ha) Douay property near Matagami, Quebec.


This first phase drill program of 16 holes for 6,329 metres distributed over a
strike length of 1.8 kilometres consisted of a general evaluation of the
near-surface low-grade gold distribution along the Porphyry Zone. This program
tested the extensions on strike and at a maximum depth of 250 m vertical of the
Adam 92-7 Zone, the Central Zone and the Exploration Zone located between the
two zones which collectively comprise the bulk of the current resources of the
zone referred to as the "Porphyry Zone". Gold mineralization was encountered in
every hole. Of importance, hole DO-11-33 (previously released by S.E.M.Vior Inc,
Feb. 9, 2011) intersected 1.03 g/t Au over 86.6 metres (between 257.4 m and
344.0 m) and hole DO-11-44, located 680 metres to the east, intersected 0.78 g/t
Au over 73.5 metres (between 270.0 m and 343.5 m), including 1.03 g/t Au over
46.5 metres.


Assay results for significant intersections are summarized in the table below
(intercepts are in meters along the hole):




----------------------------------------------------------------------------
Hole      UTM East     Zone  From (m)   To (m)   Au (g/t)   Length     Lower
                                                               (m)    cutoff
                                                                       (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
DO-11-39    705750    North    294.00   303.00       0.65     9.00      0.35
----------------------------------------------------------------------------
DO-11-33    705870    South    235.00   250.00       0.75    15.00      0.35
                      North    257.40   344.00       1.03    86.60      0.35
                      incl.    307.50   336.80       1.91    29.30      0.70
----------------------------------------------------------------------------
DO-11-40    706000    South    256.50   306.00       0.53    49.50      0.35
                      North    364.50   369.00       0.97     4.50      0.35
----------------------------------------------------------------------------
DO-11-34    706080    South    221.00   222.50       0.43     1.50      0.35
                      North    251.00   272.00       0.46    21.00      0.35
                      incl.    266.00   267.00       0.83     1.00      0.70
----------------------------------------------------------------------------
DO-11-35    706300    South     90.40   107.00       0.62    16.60      0.35
                      North    150.00   155.50       1.23     5.50      0.35
----------------------------------------------------------------------------
DO-11-36    706300    South    283.50   294.00       0.79    10.50      0.35
                      North    336.00   400.50       0.53    64.50      0.35
----------------------------------------------------------------------------
DO-11-44    706550    South    192.00   211.50       0.40    19.50      0.35
                      North    270.00   343.50       0.78    73.50      0.35
                      incl.    297.00   343.50       1.03    46.50      0.70
----------------------------------------------------------------------------
DO-11-42    706700    North    122.00   125.00       0.43     3.00      0.35
----------------------------------------------------------------------------
DO-11-45    706700    South     92.50   164.50       0.43    72.00      0.35
                      North    239.50   332.50       0.36    93.00      0.35
----------------------------------------------------------------------------
DO-11-43    706800    South    113.00   114.50       0.48     1.50      0.35
                      North    224.00   282.50       0.51    58.50      0.35
----------------------------------------------------------------------------
DO-11-46    706900    South     70.00    73.00       1.01     3.00      0.35
                      North    112.00   125.50       0.51    13.50      0.35
----------------------------------------------------------------------------
DO-11-41    706950    South    160.00   172.00       0.80    12.00      0.35
                      North    299.00   354.50       0.56    55.50      0.35
----------------------------------------------------------------------------
DO-11-18A   707100    South    190.00   226.00       0.52    36.00      0.35
                      incl.    211.00   226.00       0.85    15.00      0.70
----------------------------------------------------------------------------
DO-11-37    707300    South    101.00   102.50       0.73     1.50      0.35
                      North    137.00   138.50       0.36     1.50      0.35
----------------------------------------------------------------------------
DO-11-38    707300    5-4-S    183.50   191.00       0.53     7.50      0.35
                      North    380.50   389.50       1.57     9.00      0.35
----------------------------------------------------------------------------
DO-11-47    707550    5-4-S     67.00   145.00       0.51    78.00      0.35
                      South    166.00   175.00       1.06     9.00      0.35
                      North    203.50   205.00       0.43     1.50      0.35
----------------------------------------------------------------------------



"We are pleased with the results to-date as they have increased the level of
confidence and understanding of the Porphyry Zone. We are now finalizing the
integration of the new results in preparation for the next round of drilling on
the Porphyry Zone," as well as the other highly prospective zones on the Douay
Property" stated the Company's President and CEO, Guy Brunet.


Consultant Work

An external consultant, Mr. Cliff Duke, P.Eng., is currently working on creating
a 3-D model of the mineralization at the Porphyry Zone. Variograms and grade
block models are also being designed to determine the preferred orientation of
the gold mineralization. The outcome of the modelling will be integrated with
the geological interpretation to improve the economics of the Porphyry Zone as a
low-grade open pit style deposit and to define targets for the follow-up drill
program that is slated to begin in the winter 2011-2012.


Drill holes planned for 2012 will focus on extending the known gold resources in
both the inferred and indicated categories (currently covering an area of
approximately 2 km in strike length) to the west, to the east and to depth (up
to depths of 450 m).


Current Resources

The classified resources of the Porphyry Zone (Adam 92-7 and Central) to a
maximum depth of approximately 300 m and using a cut-off grade of 0.7 g/t Au are
598,000 tonnes at 1.12 g/t Au (21,000 ounces of gold) in the measured and
indicated categories, with an additional 31,727,000 tonnes at 1.10 g/t Au
(1,126,000 ounces of gold) in the inferred category. The current classified
resources of the Porphyry Zone (Adam 92-7 and Central) are reported in the
technical report dated March 15, 2011 (the "Technical Report") prepared for the
Company in accordance with NI 43-101 entitled, "Resource Update of the Douay
Property and Preliminary Economic Assessment of the Douay West Mineral Deposit,
Northern Abitibi, Quebec" and are compliant with standards as outlined in the NI
43-101.


The drilling program on the Douay property is still ongoing on selected targets
along the contact between volcanic and sedimentary rocks that is believed to be
associated with a "pull-apart basin" ( the Pull apart Zone) geological setting,
where significant historical gold values were intersected. Some drilling
follow-up was also performed in the extensions of the Zone 10. Most of the
results are pending and will be released at the end of each drilling phase.


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 (30g) followed by
atomic absorption according to industry standards. Repeats are completed by
fire-assay followed by gravimetry on selected samples.


The technical content of this press release with respect to mineral deposit
estimates has been approved by Maxime Dupere, P.Geo., one of the authors of the
Technical Report, who is also a "Qualified Person" under NI 43-101 and
considered an "Independent Qualified Person". This press release was prepared by
Marc L'Heureux, P.Geo., Senior Technical Advisor of Aurvista who acts as the
"Qualified Person". He also supervised the exploration program of the Company.


Forward-Looking Information

This press release contains forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which are beyond
the control of the Corporation, including, without limitation, those listed
under the headings "Special Note Regarding Forward-Looking Statements" and "Risk
Factors" in the Corporation's final long form prospectus. Forward-looking
information in this press release includes, but is not limited to, information
concerning the proposed use of the proceeds of the Offering. Should one or more
of these risks or uncertainties materialize, or should assumptions underlying
the forward-looking information prove incorrect, actual results, performance or
achievements could vary materially from those expressed or implied by the
forward-looking information. Accordingly, prospective investors should not place
undue reliance on these forward-looking statements. These forward-looking
statements are made as of the date of this press release and, other than as
required by applicable securities laws, the Corporation does not assume any
obligation to update or revise them to reflect new events or circumstances.


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