– Gold mineralization linked to 9 individual E-W shears and 3 subparallel structural domains
– Several higher grade gold zones appear at junctions of NW-SE, NE-SW and E-W shears, but yet to be confirmed
– Significant potential of discovering more gold mineralization as observed from the number of shears, structural domains and potential junctions
MONTREAL, QUEBEC–(Marketwired – Sept. 7, 2016) – Aurvista Gold Corporation (“Aurvista” or the “Company“) (TSX VENTURE:AVA)(OTC PINK:ARVSF)(FRANKFURT:AV2) has made a significant breakthrough in predicting the occurrences of gold and massive sulphides potentially leading to additional mineralization on the Douay Gold Project (“Douay”). This work is part of the continuing Detailed Targeting Program (the “Program”) that commenced in June 2016 and previously reported (refer to the Company news releases dated June 14 and June 21, 2016; July 27, 2016; and August 29, 2016).
To date, Aurvista has completed the re-logging of 125 historic drill holes totaling 41,330 meters of the planned 65,000 meters from 23 of 26 sections planned for Douay. These sections will also include non-mineralized segments and the 10 known gold zones. The drill core from previous drilling campaigns is being analyzed geochemically using a hand held portable XRF. More than 7,000 readings have already been taken. In addition, more than 70,000 readings were taken to measure the conductivity of rocks as part of the field validation of EM-INPUT™ and airborne TDEM conductors. More than 1,205 re-logged drill core samples have been shipped to the ALS Group Laboratory in Val-d’Or (Quebec) for gold and whole rock analysis.
The Program’s objective is to define the chemical signatures and alteration mineralogy of the known gold mineralization and predicting the association with the geology-geophysics signatures of new gold discoveries. The Program’s results to date indicate a simpler geological picture than what was previously interpreted in terms of rock types and mineralization characteristics. Intersecting shear zones in the right host setting produced significant higher and lower grade gold mineralization, and more importantly could help Aurvista predict additional gold zones.
Douay consists of two distinct but overlapping geological signatures: a primary Volcanogenic Massive Sulphide (“VMS”) of Copper-Zinc affinities overprinted by a secondary structurally hosted gold system. The interpreted geological signature is very similar to the 15+ million ounce Doyon-Bousquet-Laronde mining camp located 100 km S-SW of Douay, along the Cadillac Larder Lake Deformation Zone.
The evidence so far is pointing to a well-defined continuity of geological units and structures across Douay. The volcanic rocks trend NW-SE, whereas the gold shears trend E-W. For example, the iron rich basalt of “Douay West” extends in a NW-SE direction for more than 4 km towards the “10”. However, the E-W shear encompassing “Douay West”, also takes in the “Adam-Porphyry” and the “Main Zone” some 5 km to the E. There are several of these subparallel shears hosting the 8 higher grade and 2 lower gold zones. The gold mineralization sits at junctions of anastomosing E-W, NW-SE and NE-SW trending shears (refer to Figures 1 and 2). Again, the evidence points to more gold mineralization.
The relative timing of the gold mineralization started with the emplacement of flat-lying iron-rich basalts, iron-rich cherts and mudstones. This was followed by the emplacement of an explosive volcanic edifice atop of the basalts along a N-S feeder structure. The edifice has been located between the “Main Porphyry” and “Central Zone” zones, whereas the “South Porphyry” now sits along the N-S feeder structure. The volcanic edifice ejected felsic tuffs and lava flows, making up the core of the current Douay-Style Mineralization (“DSM”) corridor. The tuffs and lava flows form a 1,000 meter thick sequence nearest the edifice thinning out into finer lapilli and ash tuffs to the W and E. The limits of the sequence is unknown at this time but at least some portions of it are bounded by faults of the Casa Berardi Deformation Zone (“CBDZ”). The explosive volcanism was likely accompanied by gaseous activity depositing pools of cherts and sulphides in proximity to the volcanic edifice, fed by splays off the main N-S feeder structure. The splays now consist of green chlorite with stringer and massive pyrite mineralization. The 3 main pools are centered on the TDEM anomalies “E”, “F” and “G” (refer to Figure 1).
Subsequent regional deformation in this portion of the Abitibi Belt resulted in the entire volcanic package being tilted vertically, then overturned to the north while dipping to the south, exposing the N-S trending feeder structure, which is now filled by the “South Porphyry”. Further deformation produced and enhanced the crisscrossing network of NW-SE, NE-SW and E-W structural fabric which led to the eventual emplacement of porphyries and subsequent gold mineralization within the 10 km by 3 km DSM and possibly beyond towards the E and W, all of which as yet to be confirmed.
Figure 2 shows the 9 individual E-W shears and 3 subparallel structural domains, TDEM/EM-INPUT™ conductors, and gold zones in the DSM. Several higher grade gold zones appear at junctions of NW-SE, NE-SW and E-W shears; but at this time there is yet to be a link made between the gold mineralization and the junctions. However, it is apparent from the number of shears, structural domains and junctions, there is a significant potential of discovering more gold mineralization in addition to our existing multi-million ounces in mineral resources. Previous drilling campaigns performed by others prior to Aurvista were not systematic and did not focus on any one particular structural trend.
The Program work progresses with further reporting expected in the coming weeks as more results become available.
Aurvista is committed to the continued exploration of Douay
The Company is well advanced in its previously announced 2016 two-staged exploration campaign on Douay with the primary objective of defining drill targets to increase known Mineral Resource estimates. The First Stage of the campaign, slated for completion in Q4-2016, tackles Priority Targeting (the “Program”) in two areas, the DSM and 6 km by 1 km EM-INPUT™ sector, where management is confident additional gold and base metal bearing massive sulphides mineralization will be discovered. The Second Stage will consist of 4,000 metres of drilling to delineate additional gold mineralization planned for Q4-2016 and Q1-2017.
The technical contents in this news release have approved by Mr. Jean Lafleur, M. Sc., P. Geo., President and CEO for Aurvista Gold Corporation, a Qualified Person under National Instrument 43-101.
About Aurvista Gold Corp.
Aurvista Gold Corporation is a junior gold exploration and development Company with 90,689,121 shares outstanding trading on the TSX Venture Exchange in Canada, the Frankfurt Stock Exchange and OTC Pink Sheets in the US. Aurvista’s only asset is the Douay Gold Project, consisting of a 100% owned interest in 250 contiguous claims totaling 133.1 km2, plus a 90% interest in 5 contiguous claims totaling 0.2 km2 and a 75% interest (25% held by SOQUEM) in 32 contiguous claims totaling 11.9 km2. In total there are 287 claims covering 145.3 km2 located along a 20 km segment of the Casa Berardi Deformation Zone in the prolific Abitibi Belt of northern Quebec. Douay is located 40 km SW of the Matagami Zinc Base Metal Camp and 150 km N of the Val-d’Or-Malartic Gold Camp (both in Quebec).
In August, 2012, Aurvista updated the Mineral Resources estimates that included all drilling completed to the end of March 2012. Douay contains Mineral Resources estimates of 2.7 million tonnes of Indicated Resources at 2.76 g/t gold for 238,000 ounces (above a 0.3 g/t gold cut-off grade) or 3,458,000 tonnes grading 2.98 g/t gold (at a 0.5 g/t gold cut-off grade) for 235,500 ounces. There were additional Inferred Resources of 115 million tonnes at 0.75 g/t gold for 2.75 million ounces (above a 0.3 g/t gold cut-off grade) or 62 million tonnes grading 1.06 g/t gold for 2.1 million ounces (above a 0.5 g/t cut-off grade). Details can be viewed on the Company’s website at www.aurvistagold.com.
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 PRESS RELEASE.
This news release may contain forward-looking statements based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corporation’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.aurvistagold.com.