Aurvista Gold Corporation Identified by Mining Journal as Presenting Opportunity, Currently at 3 Million oz Gold with Potential for 10 Million
New York, NY (PRWEB) November 22, 2014 -- Mining MarketWatch Journal believes Aurvista Gold Corporation is poised for upside revaluation. The inherent gold resource value of Aurvista's Douay deposit and the Company's accomplishments are expected to be increasingly appreciated by the market, and its share price is apt to respond in multiples as the price of physical gold retrenches and strengthens. Aurvsita’s Douay Gold Project is comparable in potential to rival nearby Canadian Malartic (10.8M oz) gold deposit and Detour Gold (15.6M oz) deposit. The Mining Journal outlines how Aurvista’s management team is executing on a plan to target, generate, and develop 5 to 10 million ounces Gold -- advanced enough to pique the interest of large miners/players.
The full Mining Journal review may be found at http://miningmarketwatch.net/ava.htm online.
The current (2012) Resource Estimate at the Douay Gold Project (0.3 g/t cut-off) is:
238,433 oz gold Measured & Indicated (2,689,000 tonnes @ 2.76 g/T)
2,754,554 oz gold Inferred (114,652,000 tonnes @ 0.75 g/T)
To date the Douay Deposit has received 657 drill holes, totaling 186,000 m, over a ~5 km corridor, including 12,801 m in 2012 by Aurvista after acquiring the property in 2011 and capitalizing the Company.
A big advantage that Aurvista's Douay Gold Deposit has compared to major low-grade high-tonnage area deposits, such as Canadian Malartic and Detour, is that Douay has multiple high-grade zones. Aurvista has identified 7 high-grade zones to date throughout the 5 km corridor, so far identifying ~300,000 ounces gold in the high-grade model. There is no history of mining on the Douay project, all high-grade remains intact.
Upcoming Preliminary Economic Assessment (PEA) to focus on mining Douay West zone:
The most advanced section of its deposit is the Douay West zone hosting high-grade veins and shears, it contains anywhere from ~4 - 30 g/t of gold and the averages depending on the cut-off varies from say 4 to 8 g/t gold and currently appears to have ~150,000 ounces of gold hosted in potentially recoverable material -- a great starter for a scalable mining operation (open-pit, underground, or combined); the upcoming PEA, expected to be released Q1-2015, will provide an assessment of the economics and offer orientation as to where to focus. There appears excellent potential for an initial ~600 TPD open-pit operation, transitioning to underground mining. The Company has surface camp infrastructure in-place. There is no on-site milling discussed yet, however Aurvista has the option of transporting its concentrate to several nearby mills.
Like other deposits across the Abitibi greenstone belt (an area which has seen over 200 million ounces of gold production history) Douay is a structurally hosted deposit. It has unique anastomosing mineralized corridors of high-grade vein type zones tied-together with disseminated gold. The high-grade zones tend, up to now, to boarder the porphyries, however the high-grade zones themselves are composed of high-grade sub-zones (e.g. four sub-zones on the Douay West section) that are likely tied together with material that carries. Definition drilling in the current phase of drilling will better reveal the links that will aid in mining it all effectively.
10M+ oz gold potential: Well on its way, Aurvista is aiming to discover and develop 5-10 million ounces gold; potentially 500,000 to 1,000,000 ounces in higher-grade ≥ 6 g/T, and 4,500,000 to 9,000,000 ounces in lower-grade ≤ 1.5 g/T. Currently the bulk of the Douay resource is with the disseminated low-grade model (0.3 - 2 g/t, but generally under 1 g/t) in the inferred category (2.75 million ounces gold Inferred (114,652,000 tonnes @ 0.75 g/t)). The main porphyry trend runs the distance of the 5km east-west corridor and appears to have the potential for a possible super-pit. Aurvista's CEO & President, Jean Lafleur M.Sc., P.Geo., was involved in the early exploration days with what is now Yamana and Agnico Eagle Mines' Canadian Malartic property (formerly owned by Osisko), prior to Osisko acquiring it (early shareholders and stakeholders in Osisko have seen >4,000% rate of return since 2004) -- Mr. Lafleur intimately understands the type of deposit being advanced at Douay and its comparable potential; in 2012 Mr. Lafleur took point for AVA.V on two drill campaigns across the 5km corridor of Douay and encountered substantial disseminated gold, drilling occasionally down to 150 m, no deeper than 400 m, with most above 300 m. There is a second porphyry that runs N-S that was successfully tested and can be followed up on later to add ounces in that direction. The Douay Property covers 20 km strike length of the Casa Berardi South fault yet only ~5 km has been adequate tested, in part. A combination of several models will be employed in maximizing the deposit going forward; Aurvista has identified at least 8 metallogenic styles for gold mineralization, each could potentially host multi-million ounces, 2 have been tested to date on a budget and that delivered 3 million ounces.
Activities currently underway: 1) a complete PEA surrounding the viability of West zone open-pit and/or underground production targeting 150,000 oz gold, 2) engineering, environmental, geotechnical surveys, 2) model evaluation, and 3) drilling (~5,000 m to look at depth, potential, boarders of mineralization, and some definition drilling). At the Douay West zone high-grade gold comes right up to the overburden, which varies between 10 m to 45 m. There is quality material very close to surface. Right now Aurvista is doing some drilling to look at overburden characteristics in that area, and it is also doing some drilling to see if the ore near surface links up with the slightly deeper zones -- if they linkup it makes this a lot more feasible to mine in connection.
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The full Mining Journal review may be found at http://miningmarketwatch.net/ava.htm online.
This commentary is for information purposes only and is not a solicitations to buy or sell any securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).
James O'Rourke, Mining MarketWatch Journal, +1 (866) 620-9945, [email protected]
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