|By Marketwired .||
|February 11, 2013 05:00 PM EST||
ST. JOHN'S, NEWFOUNDLAND -- (Marketwire) -- 02/11/13 -- Aurion Resources Ltd. ("Aurion") (TSX VENTURE:AU) is pleased to provide the following exploration update.
-- Aurion currently has three active joint ventures, including two in Nevada and one in British Columbia, and anticipates partner-funded drilling on at least two during 2013, pending receipt of applicable permits. -- Aurion is well financed with $3 million cash and a low operating burn rate. -- Aurion is continually reviewing property submissions in a number of jurisdictions and has recently acquired two new gold projects in Nevada (see below) that it is confident it can advance economically and systematically to attract a joint venture partner.
JOINT VENTURE PROJECT UPDATE
Logan Pass, Nevada, USA - Prospective for Carlin-type gold deposits and located south of the Eureka-Battle Mountain Trend. The property is host to a greater than 400 m by 150 m sub-horizontal zone of gold mineralization in silty carbonates of the Pogonip Formation, host to mineralization at the Long Canyon deposit of Newmont. Drilling in 1993 reported intercepts of 1.8 g/t Au over 6.1 m and 1.5 g/t Au over 9.15 m. No modern exploration since the early 1990's. Airborne and ground geophysics, mapping and geochemical sampling by Aurion and Terra Rossa, has identified several priority targets. A 1500-2000 m drill program is currently being permitted with anticipated start-up in Q2-Q3 2013.
Bull, Nevada, USA - Prospective for Carlin-type deposits and located on the southern part of the Battle Mountain-Eureka Trend. Previous workers in limited drilling in 1994 intercepted 3 m of 2.05 g/t Au within a 9.15 m intercept grading 1.15 g/t Au starting at approximately 15 m below the surface. Airborne geophysics (ZTEM/Mag), mapping, prospecting, geochemical sampling and compilation by Aurion, linked the mineralized outcrops with the extension of the controlling structure of Midway's Goldrock deposit to the south, and nearing production. The Bull property is optioned to Midway Gold Inc.. Midway has advised Aurion that an exploration program, which may include drilling, is currently being planned for 2013.
Lavington, BC, Canada - Prospective for porphyry Cu-Au and epithermal Au-Ag deposits and located in south-central BC, near the town of Vernon. The property is host to an extensive 1500 m by 400 m alteration zone, with coincident Au-in-soil geochemical and IP geophysical anomalies. Limited drilling in the late 1980's intersected 0.31 g/t Au over 125 m within a portion of this alteration zone. The property is optioned to Asher Resources (ACN.P). A $250,000-$300,000 drill program is planned for 2013.
PROJECTS AVAILABLE FOR OPTION
Southpaw, Nevada, USA - Prospective for Carlin-type deposits and located immediately north of and adjacent to Logan Pass. It is geologically similar to Logan Pass but stratigraphically higher. Aurion outlined gold mineralization in jasperoid breccias over an area of 250 m by 225 m and sampling returned assay results up to 19.3 g/t Au (grab) and 2.6 g/t Au over 4.0 m which occur within a 3000 m long by 350 m wide Au-in-soil geochemical anomaly. Seeking new JV partner.
La Bandera, Durango, Mexico - Prospective for epithermal Au deposits, the property hosts a greater than 20 km long, under-explored epithermal gold vein system. In 2011-2012 the property was optioned to Aurico Gold who drilled 5300 m in 11 widely spaced holes with limited results. Several compelling targets remain to be tested across the property. Aurion is currently seeking a new JV partner.
Kawich Gold Project, Nevada - Prospective for epithermal gold deposits and located in the Walker Lane belt. The property is host to a greater than 7 km long by greater than 1.0 km wide volcanic hosted low sulphidation epithermal vein system. The veins which locally reach 4 m in width occur within a broad zone of alteration. The property has been explored intermittently since the early 1900's including some drilling and small scale mining from high grade veins. Drilling by previous explorers in the 1990's, testing the bulk tonnage potential, intersected up to 40 m of 0.35 g/t Au and 13 g/t Ag. Aurion personnel collected a total of 78 rock chip samples during reconnaissance mapping which assayed from nil to 5.7 g/t Au (average: 0.59 g/t Au) and nil to 1590 g/t Ag (average: 103 g/t Ag). Aurion has signed a definitive agreement with 2 private individuals giving Aurion the right to acquire 100% in 73 unpatented claims for a total of $150,000 in staged payments over 4 yrs starting at $5,000 and subject to a 2% NSR that can be purchased for $2 million.
Goldlands Gold Project, Nevada - Prospective for disseminated Carlin-style and volcanic hosted gold deposits and located in the Willow Creek mining district, Nye County, Nevada. The property is host to a greater than 150 m by greater than 50 m zone of jasperoid alteration and gold mineralization within Paleozoic carbonates. Twelve samples collected from this area assayed from 0.05 g/t Au to1.48 g/t Au (average: 0.42 g/t Au). Aurion has signed a definitive lease with option to purchase (100%) agreement from a private individual for 2 unpatented claims by making staged cash/lease payments starting at $5,000 on signing (paid) and increasing to $40,000 annually on the 7th anniversary (2019) and subject to a 2% NSR that can be purchased for $2 million.
ALS Chemex, a certified commercial laboratory, performed the analytical testing at their facilities in Vancouver, BC. Gold analyses for rocks were by 30 gm fire assay with an ICP finish with trace elements by ICP. A quality assurance/quality control program is in place from sample collection through laboratory analysis.
Aurion is focused on early stage precious metals exploration in Nevada, and to a lesser extent British Columbia and Mexico. Its strategy is to generate or acquire early stage gold projects and systematically and economically advance them to a stage which will attract potential joint venture partners. Aurion currently has three active joint ventures and $3.0 million cash, 38 million shares issued and outstanding and a low operational burn rate.
Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release.
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
On behalf of the Board,
Mike Basha, President & CEO
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 release.
President & CEO
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Nov. 23, 2014 12:30 PM EST Reads: 1,284
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 23, 2014 12:00 PM EST Reads: 1,564
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Nov. 23, 2014 11:00 AM EST Reads: 1,253
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Nov. 23, 2014 08:00 AM EST Reads: 1,369
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Nov. 23, 2014 07:45 AM EST Reads: 1,417
We are all here because we are sold on the transformative promise of The Cloud. But what good is all of this ephemeral, on-demand infrastructure if your usage doesn't actually improve the agility and speed of your business? How must Operations adapt in order to avoid stifling your Cloud initiative? In his session at DevOps Summit, Damon Edwards, co-founder and managing partner of the DTO Solutions, will highlight the successful organizational, process, and tooling patterns of high-performing c...
Nov. 23, 2014 02:00 AM EST Reads: 1,144
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from ha...
Nov. 22, 2014 10:00 PM EST Reads: 1,256
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
Nov. 22, 2014 08:00 PM EST Reads: 1,491
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
Nov. 22, 2014 06:45 PM EST Reads: 1,277
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Nov. 22, 2014 05:45 PM EST Reads: 1,400
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
Nov. 22, 2014 05:30 PM EST Reads: 1,228
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Nov. 21, 2014 09:15 PM EST Reads: 1,315
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the ...
Nov. 21, 2014 08:00 PM EST Reads: 1,394