AuRico Gold Reports 26.8 Metres at 12.36 Grams Per Tonne Gold Equivalent(1) and 8.5 Metres at 25.90 Grams Per Tonne Gold Equivalent(1) at Ocampo
By Aurico Gold Inc., PRNETuesday, June 21, 2011
TORONTO, June 22, 2011 -
AuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), (”AuRico”) is pleased to
provide an update of drill results from the Ocampo surface drill
exploration program during May. The drilling results are among the
best results reported to date and include 55 new ore-grade drill
intercepts from a wide variety of drill projects on the property.
(Refer to Table 1 in the Appendix for selected drilling
results)
Picacho (Open Pit)
- Drilling highlights include:
- Hole OG-1356, 8.5 metres at
25.90 grams per tonne gold
equivalent(1)
- Hole OG-1360, 10.1 metres at
3.37 grams per tonne gold
equivalent(1)
- Hole OG-1363, 26.8 metres at
12.36 grams per tonne gold
equivalent(1), ending in
ore at 3.3 grams per tonne gold
equivalent(1)
- Including, 13.7
metres at 21.75 grams per tonne gold
equivalent(1)
Aventurero - San Martin (Underground)
- Drilling highlights include:
- Hole OG-1403, 1.6 metres at
51.68 grams per tonne gold
equivalent(1)
- Hole OG-1405, 3.2 metres at
15.23 grams per tonne gold
equivalent(1)
Dog Clavo (Underground)
- Drilling highlights include:
- Hole OG-1377, 2.2 metres at
28.00 grams per tonne gold
equivalent(1)
- Hole OG-1384, 2.3 metres at
14.17 grams per tonne gold
equivalent(1)
Maria - Molinas SW (Underground)
- Drilling highlights include:
- Hole OG-1376, 3.0 metres at
7.85 grams per tonne gold
equivalent(1)
- Hole OG-1386, 3.5 metres at
7.08 grams per tonne gold
equivalent(1)
“Ocampo has recorded some exciting drill results at the Picacho
open pit deposit which is the mine’s primary open pit mining
operation, representing 41% of Ocampo’s open pit reserve base. The
existing Picacho resource block model near holes OG-1356 and
OG-1360 has values in the range of only 0.3 to 1.7 gold equivalent
grams per tonne(1) while the existing resource block model near
hole OG-1363 has values of 4 to 6 gold equivalent grams per
tonne(1). Given that these hole intercepts are 25.3 to 61 metres
apart and that they are considerably higher grade and longer length
than previously modeled, these results should convert a significant
tonnage of Inferred Resource to Measured and Indicated, as well as
increase much of this material to mill grade. These encouraging
results will be followed up during the second half of the year.”
stated Peter Drobeck, Senior Vice President of Exploration and
Business Development.
Some of the best intercepts reported in May include:
Picacho
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1356 55.6 64.1 8.5 16.94 493 25.90
-------------------------------------------------------------------------
OG-1360 73.5 83.6 10.1 2.38 55 3.37
-------------------------------------------------------------------------
OG-1363 70.8 97.6 26.8 9.14 177 12.36
-------------------------------------------------------------------------
Including 72.7 86.4 13.7 16.38 295 21.75
-------------------------------------------------------------------------
Aventurero - San Martin
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1381 33.8 34.6 0.8 21.00 155 23.82
-------------------------------------------------------------------------
OG-1403 161.7 163.4 1.6 38.36 733 51.68
-------------------------------------------------------------------------
OG-1405 149.1 149.7 0.6 4.87 306 10.43
-------------------------------------------------------------------------
OG-1405 161.3 164.4 3.2 9.05 340 15.23
-------------------------------------------------------------------------
OG-1411 83.5 84.1 0.6 8.45 161 11.38
-------------------------------------------------------------------------
OG-1411 106.5 107.1 0.6 5.39 254 10.01
-------------------------------------------------------------------------
OG-1413 95.0 95.7 0.7 16.55 27 17.04
-------------------------------------------------------------------------
Dog Clavo
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1377 82.3 84.5 2.2 22.56 299 28.00
-------------------------------------------------------------------------
OG-1384 119.4 121.8 2.3 5.74 464 14.17
-------------------------------------------------------------------------
Maria - Molinas SW
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1376 97.6 100.7 3.0 4.00 212 7.85
-------------------------------------------------------------------------
OG-1386 82.6 86.1 3.5 4.42 146 7.08
-------------------------------------------------------------------------
OG-1396 63.1 64.2 1.1 9.62 112 11.67
-------------------------------------------------------------------------
OG-1400 84.9 85.4 0.6 10.65 23 11.07
-------------------------------------------------------------------------
Altagracia
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1354 64.1 80.0 15.9 0.7 48.8 1.59
-------------------------------------------------------------------------
Including 68.4 71.9 3.6 1.6 125.1 3.92
-------------------------------------------------------------------------
OG-1362 56.7 64.0 7.3 0.1 26.5 0.62
-------------------------------------------------------------------------
Belen
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1335 118.7 119.6 0.9 3.63 194 7.16
-------------------------------------------------------------------------
El Rayo
From To Length Gold Silver Gold Eq.
Hole (m) (m) (m) g/t g/t g/t(1)
-------------------------------------------------------------------------
OG-1402 123.7 124.5 0.9 15.80 36 16.46
-------------------------------------------------------------------------
This press release sets out the gold and silver grades found in the
samples taken from various targets. Not all of these targets have
been categorized as a mineral resource deposit under applicable
Canadian mineral resource reporting standards, and it is uncertain
if further exploration will result in these targets being
delineated as mineral resources. The grades encountered so far
should not be taken as representative of the ore bodies in question
as there has been insufficient exploration to define a mineral
resource, and such grades may not prove representative of the
deposits if and when the same are delineated as mineral
resources.
The Ocampo surface exploration information has been reviewed by
Qualified Person, Mr. Peter Drobeck. All gold sample analyses for
Ocampo were performed by Chemex Laboratories, based in Vancouver,
British Columbia, using standard fire assay procedures, with an AA
finish. Silver is analyzed using a four-acid digestion with ICP
finish, and fire assays for samples over 100 grams per tonne
silver. The Company maintains a Quality Assurance - Quality Control
program including the insertion of commercial control reference
pulps and blanks in all its drill programs, along with a dedicated
QA-QC engineer to monitor results. Sample lengths are not
necessarily true widths.
About AuRico Gold
AuRico Gold is a leading intermediate Canadian gold and silver
producer with a diversified portfolio of high quality mines and
projects in Mexico. The Company’s three wholly-owned operating
properties include the Ocampo mine in Chihuahua State, the El
Chanate mine in Sonora State and the El Cubo mine in Guanajuato
State. Its strong pipeline of development and exploration stage
projects includes the Guadalupe y Calvo advanced exploration
property in Chihuahua State and the Orion Project in Nayarit State,
along with six exploration properties throughout Mexico. AuRico’s
head office is located in Toronto, Ontario, Canada.
Cautionary Statement
Cautionary Note to US Investors - The United States Securities
and Exchange Commission permits US mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. This
press release uses certain terms, such as “measured”, “indicated”
and “inferred” “resources”, that the SEC guidelines strictly
prohibit US registered companies from including in their filings
with the SEC. US Investors are urged to consider closely the
disclosure in Gammon Gold’s Annual Report on Form 40-F, which may
be secured from Gammon Gold, or from the SEC’s website at
www.sec.gov/edgar.shtml.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
Certain statements included herein, including information as to
the future financial or operating performance of the Company, its
subsidiaries and its projects, constitute forward-looking
statements. The words “believe”, “expect”, “anticipate”, “target”,
“continue”, “estimate”, “may”, and similar expressions identify
forward-looking statements. Forward-looking statements include,
among other things, statements regarding the grades of additional
underground and surface drilling programs at Ocampo, the ability to
delineate additional resources or reserves as a result, the
suitability of targets for future underground or open pit mining at
Ocampo, anticipated future financial and operational performance,
the future price of gold and silver, the timing of re-commissioning
and re-commencement of production at El Cubo, the de-risking of
operations, future exploration results of its exploration and
development program at Ocampo, the Company’s ability to delineate
additional resources and reserves as a result of such program, and
the company’s ability to mine such targets by mid-2011, statements
regarding its financial exposure to litigation, targets, estimates
and assumptions in respect of gold and silver production and
prices, operating costs, results and capital expenditures, mineral
reserves and mineral resources and anticipated grades, recovery
rates, future financial or operating performance, margins,
operating and exploration expenditures, costs and timing of
completion of the Ocampo expansion program and improvements to the
heap leach pad, costs and timing of the development and
commencement of production of new deposits, costs and timing of
construction, costs and timing of future exploration and
reclamation expenses including, anticipated 2011 results, operating
performance projections for 2011, our ability to fully fund our
business model internally, 2011 gold and silver production and the
cash and operating costs associated therewith, the ability to
achieve productivity and operational efficiencies, and the timing
of each thereof. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors could cause the Company’s actual
results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company.
Such factors include, among others, known and unknown uncertainties
and risks relating to additional funding requirements, reserve and
resource estimates, commodity prices, hedging activities,
exploration, development and operating risks, illegal miners,
political and foreign risk, uninsurable risks, competition, limited
mining operations, production risks, environmental regulation and
liability, government regulation, currency fluctuations, recent
losses and write-downs, restrictions in the Company’s loan
facility, dependence on key employees, possible variations of ore
grade or recovery rates, failure of plant, equipment or process to
operate as anticipated, accidents and labour disputes. Investors
are cautioned that forward-looking statements are not guarantees of
future performance and, accordingly, investors are cautioned not to
put undue reliance on forward-looking statements due to the
inherent uncertainty therein.
Note: The Ocampo surface exploration information has been
reviewed by Qualified Person, Mr. Peter Drobeck. All gold sample
analyses for Ocampo were performed by Chemex Laboratories, based in
Vancouver, British Columbia, using standard fire assay procedures,
with an AA finish. Silver is analyzed using a four-acid digestion
with ICP finish, and fire assays for samples over 100 grams per
tonne silver. The Company maintains a Quality Assurance - Quality
Control program including the insertion of commercial control
reference pulps and blanks in all its drill programs, along with a
dedicated QA-QC engineer to monitor results. Sample lengths are not
necessarily true widths.
-------------------------------------------------------------------------
TABLE 1: OCAMPO SURFACE DRILLING RESULTS JUNE 2011
---------------------------------------------------
-------------------------------------------------------------------------
Drill Hole From To Length Gold Silver AuEq(1) Vein
(m) (m) (m) (gpt) (gpt) (gpt)
-------------------------------------------------------------------------
OG-1346 66.7 67.8 1.1 0.71 49 1.60 Altagracia Bajo
-------------------------------------------------------------------------
OG-1346 78.1 79.1 1.0 1.15 9 1.30 Altagracia Bajo
-------------------------------------------------------------------------
OG-1346 138.0 138.8 0.8 0.01 71 1.30 Altagracia Bajo
-------------------------------------------------------------------------
OG-1346 188.3 189.5 1.1 0.47 52 1.40 Altagracia Bajo
-------------------------------------------------------------------------
OG-1350 187.4 189.1 1.7 0.41 23 0.83 Altagracia Bajo
-------------------------------------------------------------------------
OG-1354 64.1 80.0 15.9 0.7 48.8 1.59 Altagracia Bajo
-------------------------------------------------------------------------
Including 68.4 71.9 3.6 1.6 125.1 3.92 Altagracia Bajo
-------------------------------------------------------------------------
OG-1362 56.7 64.0 7.3 0.1 26.5 0.62 Altagracia Bajo
-------------------------------------------------------------------------
OG-1362 108.1 108.6 0.5 1.81 292 7.11 Altagracia Bajo
-------------------------------------------------------------------------
Aventurero
OG-1327 217.6 220.4 2.8 0.82 53 1.79 Nivel 2
-------------------------------------------------------------------------
Aventurero
OG-1337 88.3 89.3 1.0 0.56 94 2.27 Nivel 2
-------------------------------------------------------------------------
Aventurero
OG-1337 115.1 115.6 0.5 0.43 61 1.54 Nivel 2
-------------------------------------------------------------------------
Aventurero
OG-1349 69.1 69.7 0.7 1.95 2 1.98 Nivel 2
-------------------------------------------------------------------------
Aventurero
OG-1364 79.7 80.3 0.6 3.66 236 7.95 Nivel 2
-------------------------------------------------------------------------
OG-1381 33.8 34.6 0.8 21.00 155 23.82 Avn San Martin
-------------------------------------------------------------------------
OG-1387 60.0 61.0 1.0 2.57 14 2.82 Avn San Martin
-------------------------------------------------------------------------
OG-1403 155.7 156.4 0.7 2.00 76 3.38 Avn San Martin
-------------------------------------------------------------------------
OG-1403 161.7 163.4 1.6 38.36 733 51.68 Avn San Martin
-------------------------------------------------------------------------
OG-1403 177.6 178.1 0.5 3.49 86 5.05 Avn San Martin
-------------------------------------------------------------------------
OG-1405 149.1 149.7 0.6 4.87 306 10.43 Avn San Martin
-------------------------------------------------------------------------
OG-1405 161.3 164.4 3.2 9.05 340 15.23 Avn San Martin
-------------------------------------------------------------------------
OG-1405 180.9 181.4 0.5 2.09 11 2.28 Avn San Martin
-------------------------------------------------------------------------
OG-1409 95.7 96.2 0.5 2.71 42 3.48 Avn San Martin
-------------------------------------------------------------------------
OG-1411 83.5 84.1 0.6 8.45 161 11.38 Avn San Martin
-------------------------------------------------------------------------
OG-1411 106.5 107.1 0.6 5.39 254 10.01 Avn San Martin
-------------------------------------------------------------------------
OG-1413 95.0 95.7 0.7 16.55 27 17.04 Avn San Martin
-------------------------------------------------------------------------
OG-1413 145.4 145.9 0.5 2.35 37 3.03 Avn San Martin
-------------------------------------------------------------------------
OG-1322 95.4 96.0 0.6 0.77 57 1.81 Belen Bajo
-------------------------------------------------------------------------
OG-1335 118.7 119.6 0.9 3.63 194 7.16 Belen Bajo
-------------------------------------------------------------------------
OG-1341 72.0 72.6 0.6 0.06 176 3.26 Belen Bajo
-------------------------------------------------------------------------
OG-1347 76.4 77.1 0.7 0.12 92 1.79 Belen Bajo
-------------------------------------------------------------------------
OG-1347 90.0 90.8 0.8 0.04 88 1.63 Belen Bajo
-------------------------------------------------------------------------
OG-1351 70.8 71.4 0.6 0.80 100 2.62 Belen Bajo
-------------------------------------------------------------------------
OG-1377 19.4 20.3 0.9 3.00 55 4.00 Dog clavo
-------------------------------------------------------------------------
OG-1377 82.3 84.5 2.2 22.56 299 28.00 Dog clavo
-------------------------------------------------------------------------
OG-1377 107.8 108.3 0.5 2.62 94 4.33 Dog clavo
-------------------------------------------------------------------------
OG-1377 118.3 118.8 0.5 1.00 95 2.73 Dog clavo
-------------------------------------------------------------------------
OG-1383 46.8 47.3 0.5 0.06 134 2.50 Dog clavo
-------------------------------------------------------------------------
OG-1383 51.7 52.2 0.5 0.94 137 3.43 Dog clavo
-------------------------------------------------------------------------
OG-1384 107.3 109.9 2.6 1.64 47 2.49 Dog clavo
-------------------------------------------------------------------------
OG-1384 119.4 121.8 2.3 5.74 464 14.17 Dog clavo
-------------------------------------------------------------------------
OG-1394 47.8 48.3 0.5 1.23 67 2.45 El Rayo
-------------------------------------------------------------------------
OG-1394 93.8 95.5 1.7 1.23 5 1.32 El Rayo
-------------------------------------------------------------------------
OG-1398 46.4 48.9 2.5 0.09 177 3.31 El Rayo
-------------------------------------------------------------------------
OG-1402 123.7 124.5 0.9 15.80 36 16.46 El Rayo
-------------------------------------------------------------------------
Maria -
OG-1355 74.1 74.6 0.5 1.84 22 2.24 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1372 51.8 54.5 2.7 3.43 128 5.76 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1376 97.6 100.7 3.0 4.00 212 7.85 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1386 82.6 86.1 3.5 4.42 146 7.08 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1389 163.0 163.6 0.7 2.68 52 3.62 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1391 54.8 57.9 3.1 1.75 57 2.78 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1393 65.0 67.1 2.1 2.14 73 3.47 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1396 63.1 64.2 1.1 9.62 112 11.67 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1397 50.5 52.3 1.8 2.55 56 3.56 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1400 84.9 85.4 0.6 10.65 23 11.07 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1400 130.7 131.7 1.0 0.77 54 1.76 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1400 150.9 151.9 1.0 0.71 71 2.01 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1401 69.1 70.3 1.2 1.91 49 2.80 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1401 132.8 133.3 0.5 0.07 248 4.58 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1406 55.4 57.5 2.1 2.94 58 3.99 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1410 73.2 73.8 0.6 1.25 89 2.87 Molinas SW
-------------------------------------------------------------------------
Maria -
OG-1334 58.2 58.8 0.6 1.13 60 2.21 Molinas SW
-------------------------------------------------------------------------
OG-1332 12.2 13.7 1.5 0.65 72 1.96 Picacho
-------------------------------------------------------------------------
OG-1338 14.3 15.0 0.8 1.92 170 5.01 Picacho
-------------------------------------------------------------------------
OG-1352 48.3 48.8 0.5 4.48 258 9.17 Picacho
-------------------------------------------------------------------------
OG-1356 55.6 64.1 8.5 16.94 493 25.90 Picacho
-------------------------------------------------------------------------
OG-1360 73.5 83.6 10.1 2.38 55 3.37 Picacho
-------------------------------------------------------------------------
Including 74.7 75.2 0.5 9.55 233 13.79 Picacho
-------------------------------------------------------------------------
OG-1363 70.8 97.6 26.8 9.14 177 12.36 Picacho
-------------------------------------------------------------------------
Including 72.7 86.4 13.7 16.38 295 21.75 Picacho
-------------------------------------------------------------------------
OG-1407 29.9 31.7 1.8 0.51 11 0.70 Picacho SE
-------------------------------------------------------------------------
OG-1407 41.5 42.7 1.2 0.41 42 1.18 Picacho SE
-------------------------------------------------------------------------
OG-1407 61.0 65.9 4.9 0.23 20 0.59 Picacho SE
-------------------------------------------------------------------------
OG-1415 116.1 116.7 0.5 0.28 29 0.81 Picacho SE
-------------------------------------------------------------------------
OG-1415 145.7 146.7 1.0 1.89 188 5.31 Picacho SE
-------------------------------------------------------------------------
OG-1385 41.6 42.2 0.6 0.62 32 1.20 Polvorin
-------------------------------------------------------------------------
OG-1385 42.2 43.7 1.5 2.28 158 5.15 Polvorin
-------------------------------------------------------------------------
Diagram 1: Ocampo Plan Map:
files.newswire.ca/975/Diagram1.pdf
1. Using the Company’s long-term gold equivalency ratio of
55:1
For further information: please visit the AuRico Gold
website at www.auricogold.com or contact: René Marion,
President & Chief Executive Officer, AuRico Gold Inc.,
+1-647-260-8880; Anne Day, Director of Investor Relations, AuRico
Gold Inc., +1-647-260-8880
.
