|By Marketwired .||
|February 28, 2014 11:08 AM EST||
OTTAWA, ONTARIO -- (Marketwired) -- 02/28/14 -- Aura Silver Resources Inc. (TSX VENTURE: AUU) ("Aura Silver" or the "Company") is pleased to announce the results of a comprehensive report completed by L.E Reed Geophysical Consultant Inc. ("Reed") which supports, from a geophysical standpoint, drill targets established geochemically by Activation Laboratories Ltd. (Actlabs) Spatiotemporal Geochemical Hydrocarbon ("SGH") technology for the Aura Lake area as well as the Dingo prospect north-west of Aura Lake, both part of the Greyhound Project, NU.
As reported by Reed, "Correlations between the geochemistry and various geophysical data suggest support for the possible identification of gold and silver deposits at Aura Lake and a gold and copper deposit at Dingo". This report may be accessed at the Company's web-site (http://www.aurasilver.com/s/Home.asp) under the section Projects / Canada.
The potential sources of high-grade gold boulders (up to 28 g/t) and high-grade silver (up to 5,300 g/t) have been identified in close proximity to Aura Lake. The gold and copper targets at the Dingo prospect area north-west of Aura Lake are surface showings. New interpretation of geophysical data and SGH has refined the drill targets. This geophysical analysis has identified multiple structures/contacts with the use of three-dimensional inversion imagery of airborne VTEM EM and magnetic responses and ground Induced Polarization and Resistivity data. These structures/contacts at Aura Lake may have provided a pathway for fluids carrying mineralization and are interpreted to support the drill targets originally defined by geochemical analysis.
Robert Boaz CEO and President of Aura Silver states that, "The detailed geophysics analysis undertaken by Reed gives us further comfort that we are zeroing in on the source of high-grade surface gold, silver and copper mineralization. Despite the difficult market for all junior exploration companies we continue to enhance the value of our properties."
Paul Pitman, P. Geo. is Aura Silver's qualified person (as defined by National Instrument 43-101) and has reviewed and approved the scientific and technical information in this press release.
Actlabs' SGH technology is a deep penetrating "organic geochemistry" that involves the analysis of surficial samples prospected over potential mineral or petroleum targets (see: http://www.actlabs.com/files/SGH_-_NEW_.pdf). The analysis involves the testing for 162 hydrocarbon compounds in the C5-C17 carbon series range. These hydrocarbons result from bacterial activity associated with a variety of minerals such as gold, silver and petroleum deposits, among others. The observation of a specific set of hydrocarbon classes provides a forensic signature of mineral identification related to the hydrocarbons synthesized by bacteria that are in contact with the mineral target at depth. The geochromatographic dispersion of the SGH classes in the overburden has been successful in delineating mineral targets buried at depth of as much as 1,000 metres. Over 14 years of research, Actlabs has conducted over 900 SGH surveys with an 85% repeat client base including some of the worlds' largest mining companies.
The recently developed Organo-Sulphur Geochemical analysis detects specific sulphur based hydrocarbons related to the sulphur component of targets including from massive sulphide mineralization. This analysis has complemented and refined the previous SGH study, more narrowly defining these targets to a point where ratings were either maintained or increased such that all targets now have the highest priority rating. According to Actlabs, the highest level rating achieved by the three targets indicates that "the SGH classes most important to describing a gold-related (or silver-related) hydrocarbon signature are all present and consistently vector with the same location with well-defined anomalies". To obtain this rating there also needs to be other SGH classes that when mapped lend support and confidence to the predicted location.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada (100% owned Greyhound project) and Mexico (the 70% owned East Taviche project). Aura Silver has 101,680,844 common shares outstanding.
Aura Silver's web site is located at www.aurasilver.com.
This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, the private placement financing activities of the Company, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Aura Silver does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.