Thursday 29th September 2016

Resource Clips



Auriga President Richard Sutcliffe on Manitoba gold assays of 30.44 g/t over 2m

“This property was acquired from Barrick Gold last year. It was an asset that Barrick had through their acquisition of Pioneer Metals about four or five years ago. Being a narrow-vein deposit with a 1000-tonne-per-day mill, it was not of a size that met Barrick’s corporate threshold, so we saw it as an opportunity and felt that it was a property that had some really good near-term production potential.

“Obviously we’re quite pleased with how these assays are proving out. This is the second batch of assays, so early stages for drilling on the property. They are confirmation drilling; we’re confirming some of the reserve blocks that were identified by the former operators about 20 years ago. But we’re delighted with the continuity of these grades. While these zones are narrow, they’re obviously very high grade.

“Absolutely, the plan is to take it to production. We anticipate that this property could be in production in an 18-month time frame because of the existing infrastructure.

“Currently we’re in the process of completing this confirmation drilling program—there will be quite a few more assay results to be released on that. Then we’re going to move into a drilling program to evaluate some open pit mining potential where the veins come to the surface. By the middle of this year we will start to move into a development plan, both to refurbish the mill and the underground site infrastructure. And at the same time we’ll continue to explore on the property. There’s considerable strike-length potential here on our holdings. We’ve recently come up with some nice targets that we anticipate exploration drilling to test. That’ll happen the second half of the year.

“We like this property. We worked very hard last year to acquire the project and finance it and the results to date have been met and exceeded our expectations. We see a tremendous development potential for Maverick.”

View Company Profile

View Press Release Summary

Share |

View All: ResourceClips quotes