AuRico Gold Reports Significant Drill Results from the El Chanate Mine
By Aurico Gold Inc., PRNETuesday, June 28, 2011
TORONTO, June 29, 2011 -
AuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), (”AuRico”) is
pleased to provide an update of drilling results from the El
Chanate Mine in Sonora, Mexico. Since April 2010, 213 new drill
holes for 28,499 metres of drilling (23 drill holes for 5,052
metres since April 8, 2011) have been completed with the objective
of converting inferred resources to measured and indicated,
extending the deposit at depth to the south and southeast and to
explore for extensions to the west and east of the present open
pit. Results to date have delineated thick zones of
continuous mineralization throughout the deposit and defined
anomalous mineralization both east and south of the existing open
pit (refer to Table 1 in the Appendix for selected drilling
results).
“We are very pleased that since acquiring the El Chanate Mine in
April, the targeted drilling program has returned composite grades
substantially higher than reserve grades. The deposit is
proving to be open in both directions along strike, as well as to
the south and southeast at depth. The Company plans on
utilizing a similar exploration approach at El Chanate that has
proven to be so successful at Ocampo and plans to mobilize a core
drill to the project in Q3 to test new and existing targets,”
stated Peter Drobeck, Senior Vice President of Exploration and
Business Development.
Select results, shown in red on Diagram 1, include:
2010 Drilling Results
Hole ID From (m) To (m) Length (m) Gold g/t
CHCI-348 6.1 48.8 42.7 1.14
CHCI-376 68.6 108.2 39.6 1.79
CHCI-380 3.1 61.0 57.9 0.95
CHCI-386 0.0 21.3 21.3 2.31
CHCI-392 0.0 57.9 57.9 0.72
CHCI-392 65.5 68.6 3.0 1.43
CHCI-392 80.8 83.8 3.0 1.38
CHCI-392 96.0 112.8 16.8 0.27
CHCI-392 138.7 158.5 19.8 0.81
CHCI-393 1.5 22.9 21.3 0.29
CHCI-393 38.1 83.8 45.7 0.80
CHCI-393 96.0 132.6 36.6 0.37
CHCI-404 0.0 12.2 12.2 0.36
CHCI-404 57.9 68.6 10.7 1.46
CHCI-404 83.8 135.6 51.8 1.65
CHCI-417 1.5 47.2 45.7 0.59
CHCI-417 102.1 138.7 36.6 1.49
CHCI-422 73.2 153.9 80.8 0.79
CHCI-422 170.7 184.4 13.7 1.69
CHCI-423 0.0 91.4 91.4 0.80
CHCI-453 6.1 9.1 3.0 2.97
CHCI-453 19.8 30.5 10.7 0.32
CHCI-453 44.2 111.3 67.1 1.13
CHCI-470 123.4 211.8 88.4 0.77
2011 Drilling Results
CHCI-482 65.5 146.3 80.8 1.13
CHCI-498 86.9 134.1 47.2 1.00
CHCI-536 134.1 160.0 25.9 2.26
CHCI-539 176.8 217.9 41.2 1.30
CHCI-543 129.5 140.2 10.7 7.22
This press release sets out the gold
grades found in samples from reverse circulation drilling. The El
Chanate exploration information has been reviewed and verified by
Qualified Person, Mr. Peter Drobeck, including review of portions
of the drill logs, the original assays, and calculating the
composite intercepts. Gold sample analyses for El Chanate
were performed by the mine’s on-site laboratory until the change in
ownership to AuRico Gold Inc. in April 2011, but with a rigorous
QA_QC program that used commercial standards and also had 5% of all
samples checked through ALS_Chemex Laboratories, based in
Vancouver, British Colombia. Since the change in ownership
(and after and including drill hole CHCI-534) all assays are
performed by ALS_ Chemex Laboratories, with checks by the local
mine lab. 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 advanced exploration
property 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 AuRico Gold’s Annual Report on Form 40-F, which
may be secured from AuRico Gold, or from the SEC’s website at
.
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 El Chanate, the ability to delineate
additional measured and indicated resources or reserves as a
result, the suitability of targets for future open pit mining at El
Chanate, 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 El Chanate and the success of the Company’s
exploration approach, 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.
Significant 2010 Drill Results
Hole From (m) To (m) Length (m) Gold g/t
CHCI-344 4.6 12.2 7.6 0.38
CHCI-344 36.6 39.6 3.0 4.01
CHCI-344 48.8 51.8 3.1 3.08
CHCI-344 91.4 99.1 7.6 2.92
CHCI-345 10.7 22.9 12.2 0.41
CHCI-345 85.3 111.3 25.9 0.74
CHCI-347 3.1 30.5 27.4 0.90
CHCI-347 47.2 86.9 39.6 0.39
CHCI-348 6.1 48.8 42.7 1.14
CHCI-348 71.6 74.7 3.1 0.91
CHCI-350 7.6 47.2 39.6 0.77
CHCI-351 0.0 22.9 22.9 0.71
CHCI-351 68.6 97.5 29.0 0.30
CHCI-354 0.0 35.1 35.1 0.59
CHCI-354 44.2 68.6 24.4 0.93
CHCI-376 68.6 108.2 39.6 1.79
CHCI-377 3.0 73.2 70.1 0.64
CHCI-378 0.0 22.9 22.9 0.95
CHCI-378 67.1 89.9 22.9 0.70
CHCI-379 1.5 27.4 25.9 1.14
CHCI-379 33.5 61.0 27.4 0.38
CHCI-380 3.1 61.0 57.9 0.95
CHCI-386 0.0 21.3 21.3 2.31
CHCI-392 0.0 57.9 57.9 0.72
CHCI-392 65.5 68.6 3.0 1.43
CHCI-392 80.8 83.8 3.0 1.38
CHCI-392 96.0 112.8 16.8 0.27
CHCI-392 138.7 158.5 19.8 0.81
CHCI-393 1.5 22.9 21.3 0.29
CHCI-393 38.1 83.8 45.7 0.80
CHCI-393 96.0 132.6 36.6 0.37
CHCI-398 29.0 138.7 109.7 0.31
CHCI-402 0.0 48.8 48.8 0.66
CHCI-402 93.0 96.0 3.1 2.42
CHCI-403 0.0 39.6 39.6 0.63
CHCI-403 96.0 152.4 56.4 0.73
CHCI-404 0.0 12.2 12.2 0.36
CHCI-404 57.9 68.6 10.7 1.46
CHCI-404 83.8 135.6 51.8 1.65
CHCI-406 4.6 30.5 25.9 0.70
CHCI-406 50.3 82.3 32.0 0.81
CHCI-406 91.4 99.1 7.6 0.34
CHCI-406 125.0 152.4 27.4 0.36
CHCI-407 0.0 54.9 54.9 0.34
CHCI-417 1.5 47.2 45.7 0.59
Significant 2010 Drill Results
Hole From (m) To (m) Length (m) Gold g/t
CHCI-417 102.1 138.7 36.6 1.49
CHCI-418 4.6 18.3 13.7 0.36
CHCI-418 30.5 59.4 29.0 0.93
CHCI-418 155.5 190.5 35.1 0.47
CHCI-419 0.0 39.6 39.6 0.66
CHCI-419 62.5 96.0 33.5 0.62
CHCI-419 108.2 125.0 16.8 0.90
CHCI-420 4.6 29.0 24.4 0.38
CHCI-420 36.6 41.2 4.6 0.32
CHCI-420 65.5 83.8 18.3 1.32
CHCI-422 73.2 153.9 80.8 0.79
CHCI-422 170.7 184.4 13.7 1.69
CHCI-423 0.0 91.4 91.4 0.80
CHCI-424 4.6 24.4 19.8 0.75
CHCI-424 39.6 54.9 15.2 1.68
CHCI-424 175.3 221.0 45.7 0.45
CHCI-427 4.6 30.5 25.9 1.52
CHCI-427 227.1 233.2 6.1 3.22
CHCI-449 9.1 54.9 45.7 0.74
CHCI-449 68.6 108.2 39.6 0.63
CHCI-453 6.1 9.1 3.0 2.97
CHCI-453 19.8 30.5 10.7 0.32
CHCI-453 44.2 111.3 67.1 1.13
CHCI-456 6.1 54.9 48.8 0.65
CHCI-461 1.5 54.9 53.3 0.52
CHCI-463 24.4 57.9 33.5 0.83
CHCI-464 45.7 71.6 25.9 0.84
CHCI-470 123.4 211.8 88.4 0.77
CHCI-474 79.3 111.3 32.0 1.12
Diagram 1: El Chanate Plan Map:
For further information:
please visit the AuRico Gold website at
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
.
Tags: Aurico Gold Inc., canada, June 29, Toronto
