Suche
 
Folgen Sie uns auf:

Aurvista Gold Corporation Provides Corporate Update

18.06.2014  |  Newsfile
Montreal, Quebec -- (Newsfile Corp. - June 18, 2014) - Aurvista Gold Corporation (TSXV: AVA) ("Aurvista" or the "Company") is pleased to provide a corporate update in regards to the recent developments on the Company’s Douay Gold Project ("The Project") located in northern Quebec along the Abitibi Greenstone Belt.

Aurvista is pleased to announce the appointment to the Company of Mr. Chris Sharpe, P.Eng. to the role of Vice President Engineering. Under this new role Mr. Sharpe will advance the engineering and development of the Douay West deposit to a production decision. Prior to joining Aurvista Mr. Sharpe held progressively senior engineering positions with AuRico Gold, Wardrop Engineering, and Golder Associates.


Douay West Zone

The Company is pleased to announce that it has engaged a third party consultant to complete an environmental baseline study. The baseline study will focus on a four kilometer square area that encompasses the Douay West zone and will present environmental conditions related to the existing physical, biological, and chemical environments. The results will provide valuable input to both current and future engineering work as it will better enable the project team to reduce any potential impacts to the environment during the design process. The start of the baseline study represents a milestone for the advancement of the Douay West zone through the environmental permitting process.

In addition to the baseline study, the Company commenced an engineering study in early May that is focused on developing a production scenario for the Douay West zone that might include an open pit, underground, or both. The study is initially focusing on the potential of mining the zone by open pit in order to better maximize project economics. To date, Aurvista has received a preliminary assessment on likely overburden slope angles from a respected third party consultant. The work was based on the results of past drilling campaigns and will be used in part to investigate the economics of a potential open pit and to provide recommendations for future studies. The results of the engineering study will better enable management to make an informed decision with respect to any infill drilling programs, trade-off studies, and ultimately to advance the project to a prefeasibility level of study.

In support of the engineering initiatives, Aurvista has begun to examine the various optical ore sorting technologies available. The Company intends to have test work completed in August to determine if such a technology would be amenable to the Douay West zone. A positive outcome would benefit project economics by reducing offsite haulage costs to near-by mills and by elevating the gold grades of the ore recovered by the partial separation of any waste materials that might become included as part of the mining cycle. The Company continues to investigate potential toll milling agreements with local mills. An agreement is not expected until sometime after the results of the optical sorting tests have been received.

The Company expects to receive the environmental baseline study by the end of the fourth quarter of this year. The engineering study is anticipated to be finalized by the end of the third quarter of 2014. Pending the results the Company will then consider moving the project forward into the prefeasibility stage of study.


Douay Project

On the overall Douay Project the Company has also recently completed a property wide 3D geophysical interpretation on all Project targets. Aurvista will use these results to design the next drill campaign on the property. "The 3D geophysical interpretation will give us a strong visual tool that we will be able to use to more fully assess the project potential. This work will be an integral part in the design of our next drill campaign," said Rick Adams, President and CEO of Aurvista Gold Corporation.

"The studies we have completed or that are currently underway are a major step forward to realizing the full potential of the Douay West Zone as well as The Project as a whole," stated Rick Adams.

Aurvista maintains a strong cash balance and currently has approximately $2 million cash on hand. "The Company has done well in dialing back costs that were not accretive to share price appreciation. It is crucial for us to maintain this strong cash balance to give us more options moving forward," stated Bryan Keeler, CFO of Aurvista.


About Aurvista Gold

Aurvista Gold Corporation is a junior gold exploration and development company. Aurvista's principal asset is the Douay Gold Project, consisting of 221 wholly owned claims totaling approximately 11,430 hectares. The Douay Project’s North West Zone has 32 designated claims for a total of 1,193 hectares and is in a Joint Venture agreement with SOQUEM. The Douay Project is located on the Casa Berardi Fault in northern Quebec. The Douay Project hosts a mineral resource prepared in accordance with CIM definitions as required by NI 43-101 with an inferred resource of 114,652,000 million tonnes at 0.75 g/t gold (2.8 million ounces of gold) and an indicated resource of 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) with a cut-off of 0.3 g/t gold. Details of the Douay Gold Project 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 PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.




For further information please contact

Richard Adams, President and CEO
Aurvista Gold Corporation
Telephone: (416) 682-2674
Facsimile: (416) 504-4129
Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Maple Gold Mines Ltd.
Bergbau
A2H71G
CA5651271077
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"