Aurvista Gold Corporation Provides Exploration Update on Progress at the Douay Gold Project
MONTREAL, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Aurvista Gold Corporation (“Aurvista” or the “Company”) (TSX-V:AVA) (OTC:ARVSF) (Frankfurt:AV2) is pleased to provide a brief update on exploration work and the continued corporate transition as the Company progresses towards the next phase of drilling at the Douay Gold Project (the “Project”). Aurvista’s new management group has the core members of the new exploration team in place with the current phase of re-logging and characterisation of gold mineralisation in progress at the Project site. Most of the Company’s previously staked and pending claims have now been granted, bringing the total Project size to more than 370 km² with over 55km of strike along the Casa Berardi Deformation Zone.
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Preliminary brownfields and greenfields drill target definition is underway, with regional target areas already outlined (see Figure 1 below). The Company’s exploration team is advancing selective re-logging, geological modelling and data integration work this fall, which will result in a clear set of high-priority greenfields and brownfields drill targets in preparation for drilling this winter.
Aurvista’s President and CEO, Matthew Hornor, stated: “Our new exploration team is systematically working through the exploration and drilling data at an impressive pace. I’m confident in the team we’ve assembled and believe we have the right blueprint in place to deliver significant value in the year ahead.”
To view Figure 1: Preliminary Brownfields and Geenfields Target Areas, please visit: http://www.globenewswire.com/NewsRoom/AttachmentNg/639c49f4-3612-47a7-9330-bcd0acac9c33
The Company is very fortunate to have more than 220,000 metres of drill core archived onsite in excellent condition, covering all the drill programs dating back to the initial discovery by Inco Gold in 1976. As the Company began its fall exploration work, there were 27,000 metres of historical core that had yet to be re-logged. The focus of the current program has been to outline clusters of higher grade and broader gold intercepts, with re-logging and interpretation focused on characterising and better understanding these areas of higher gold accumulation (see Figure 2 below).
To view Figure 2: Highlighted Target Areas, please visit: http://www.globenewswire.com/NewsRoom/AttachmentNg/84cbedd8-3ba7-4adf-9a10-0714a9d52bc6
Aurvista’s VP, Exploration, Fred Speidel, stated: “We are focusing our current re-logging efforts on sections with better grades and metal accumulation for characterisation of high-potential areas for our next drill campaign. The detailed characterisation will help us define and rank specific drill targets at the property scale. Discussions with drill contractors are underway, and a property-scale remote spectral geology project has been initiated to help us better understand the scale of the Douay system and to focus our future fieldwork in the central part of the property.”
Corporate Update Note:
The Company also reports that Mr. Keith Minty has ceased serving as the Company’s Chief Operating Officer and is no longer with the Company. Mr. Minty will be pursuing other endeavours and the Company would like to thank Mr. Minty for his service and contributions.
Qualified Person
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Aurvista. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.
Douay Gold Project and Company Profile:
Aurvista Gold Corp. is a well-funded gold exploration company focused on advancing one of the largest undeveloped gold projects in Quebec. The Company’s district-scale (370 km²) Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within 150km. For more information please visit the Company’s website at www.aurvistagold.com.
ON BEHALF OF Aurvista Gold Corp.
“Matthew Hornor”
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Office: +1 416.682.2674
Email: jlang@aurvistagold.com
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Forward Looking Statements:
This news release contains “forward-looking information" and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada.. Forward-looking statements are 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. Forward-looking statements include, but are not limited to, statements with respect to the Company’s opinions and beliefs, financial position, business strategy, plans for drilling and re-logging, characterisation of gold mineralisation, geological modelling, data integration, establishing high-quality inferred resource expansion targets, testing target areas, the Company’s goal to deliver significant value, drill campaigns, and plans and objectives of management for future properties and operations. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such 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 Corp.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.aurvistagold.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.