Sunday 19th November 2017

Resource Clips


Posts tagged ‘Aurvista Gold Corp (AVA)’

Aurvista Gold readies winter drilling on Abitibi’s Casa Berardi deformation zone

November 6th, 2017

Update: On November 8, 2017, Aurvista announced a change of name and stock symbol to Maple Gold Mines Ltd TSXV:MGM, tentatively to take place November 20.

by Greg Klein | November 6, 2017

Preparations on and off the field continue as Aurvista Gold TSXV:AVA plans another winter drill campaign at its newly expanded Douay gold property. Now totalling over 37,000 hectares, the project will benefit from an extensive program of re-logging, geological modelling and data integration to target both greenfields and brownfields priorities. The work focuses on outlining clusters of higher-grade and broader gold intercepts.

Aurvista Gold readies winter drilling on Abitibi’s Casa Berardi deformation zone

Dating to the 1976 discovery, Douay houses over
220,000 metres of core with more to come this winter.

Out of more than 220,000 metres of core dating back to Douay’s 1976 discovery, about 27,000 metres had yet to be re-logged as fall began. Aurvista also has a property-scale remote spectral geology project underway “to help us better understand the scale of the Douay system and to focus our future field work in the central part of the property,” said VP of exploration Fred Speidel.

Helping guide the project are an expanded board of directors and new technical advisory committee that joined the company in July. Last month Jay Chmelauskas took on the chairperson role. Having held a number of positions with Western Lithium and Lithium Americas TSX:LAC, he had previously served as president/CEO of Jinshan Gold Mines, where he led development of China’s second-largest gold producer as well as exploration that has since resulted in the development of an additional Chinese gold mine.

Douay covers over 55 kilometres of strike along Quebec’s Casa Berardi deformation zone. Using a 0.5 g/t cutoff, an April resource update for seven zones gave an inferred total of 83.33 million tonnes averaging 1.05 g/t for 2.81 million gold ounces. The deposit remains open in multiple directions.

The project’s last drill program sunk 59 holes for 23,965 metres, with the final batch of assays released in July. The same month Aurvista closed private placements totalling $10.1 million.

Aurvista Gold adds greenfields exploration to resource expansion at Abitibi project

September 12th, 2017

by Greg Klein | September 12, 2017

Successful financing doesn’t rule out cautious spending for Aurvista Gold TSXV:AVA. Having raised $10.1 million in July, the company spent the summer reconsidering the Douay project’s strategy. Working with Aurvista’s geological consultants, a newly appointed technical advisory committee developed an approach incorporating both brownfields and greenfields exploration for the recently expanded 33,170-hectare property on Abitibi’s Casa Berardi deformation zone. Work continues on sampling, re-logging previous core, and reviewing geological, geochemical and geophysical data.

Aurvista Gold adds greenfields exploration to resource expansion at Abitibi project

Aurvista has another winter drill
program slated for this year.

To cut helicopter-borne costs, diamond drilling has been deferred to winter. But the committee also recommended a property-scale reverse circulation program “or similar top-of-bedrock sampling program to provide critically important geochemical data,” Aurvista stated.

Douay’s brownfields area hosts two types of gold mineralization, the company added. Seven zones from both areas contributed to last April’s resource update with an inferred total of 83.33 million tonnes averaging 1.05 g/t for 2.81 million gold ounces at a 0.5 g/t cutoff.

Higher grades hosted in altered mafic volcanics can be found in the Douay West zone, with its inferred 4.47 million tonnes averaging 2.36 g/t. Altered porphyritic rocks offer lower grades, such as the Porphyry zone, with its inferred 72.16 million tonnes averaging 0.96 g/t.

The resource remains open along strike and plunge, providing excellent expansion potential, the company emphasized. But Aurvista also sees potential in Douay’s relatively unexplored area for VMS, mafic, porphyry and other styles of mineralization.

Indications of Douay’s future might come from the past as well. A huge relogging program has been underway to simplify the project’s geological model. Still to be completed are about 27,000 metres out of a 220,000-metre archive dating to 1976. Oddly enough, a lot of that core was never assayed for gold. The team intends to prepare about 18,000 samples for lab analysis.

Once targets have been refined, Aurvista plans to spend the bulk of its treasury on diamond drilling both greenfields and brownfields targets, with the rigs resuming their work this winter.

In July the company released final assays from Douay’s previous 59-hole, 23,965-metre program.

Aurvista Gold expands its Abitibi presence, readies fall/winter drilling

September 5th, 2017

by Greg Klein | September 5, 2017

New expertise, new financings and now new turf have Aurvista Gold TSXV:AVA looking forward to another season of drilling on its Douay project in Quebec’s Abitibi region. With even more expansion planned, the company has extended the property by over 2,600 hectares, for a total of 33,170 hectares offering potential for “high-quality drill targets within and beyond the known resource areas.”

Additional claim applications would raise that to 34,500 hectares, covering a 50-kilometre segment of the Casa Berardi deformation zone.

Aurvista Gold expands its Abitibi presence, readies fall/winter drilling

The new land sits contiguously to ground staked last April and covers two of Casa Berardi’s three main faults. The project’s main mineralization is located “on a splay fault off the northern-most fault of the Casa Berardi break in an area of chaotic magnetic signatures due to the presence of intrusive porphyries, magnetic units and alteration,” Aurvista stated. “The recently staked claims cover another area of chaotic magnetic signatures 20 kilometres to the northwest.”

Other near-term announcements should include plans for fall/winter exploration and drilling currently under preparation by Aurvista’s geologists and newly appointed technical advisory committee. The new program would follow spring/summer drilling that totalled 59 holes for 23,965 metres.

A resource last updated in April showed an inferred category for seven zones totalling 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces at a 0.5 g/t cutoff.

After originally offering a private placement up to $7 million, Aurvista closed financings totalling $10.1 million in July.

Aurvista Gold president/CEO Matthew Hornor comments on the company’s $10.1-million private placement

August 15th, 2017

…Read more

Aurvista Gold names technical advisory committee for Abitibi advancement

July 27th, 2017

by Greg Klein | July 27, 2017

Flush with $10.1 million in recent financings and data from an extensive drill campaign, Aurvista Gold TSXV:AVA continues to beef up its personnel. Three days after announcing nominees for an expanded board of directors, the company named its appointees to a newly created technical advisory committee to help further the Douay gold project in Quebec’s Abitibi.

Aurvista Gold names technical advisory committee for Abitibi advancement

“We are in a period of growth and transition and will continue putting the best people, processes and systems in place,” said president/CEO Matthew Hornor, himself a newcomer as of last May. “We are going to take a hard look at all of the project data and results to date and complete the necessary exploration and preparation work to ensure our technical decision-makers have the information and resources required to succeed.”

Just nominated to the board of directors, David Broughton and Maurice Tagami join the advisory committee as well.

Mining engineer R. Dennis Bergen’s 40-plus years of experience include managing the Golden Bear gold mine in northern British Columbia, the Cantung tungsten mine in the Northwest Territories and the Ketza River gold mine in the Yukon.

Electrical engineer John Casson specializes in infrastructure design, project evaluation and implementation analysis in world class mining and beneficiation projects. He has held senior positions on major projects including Voisey’s Bay, Mary River and the El Aouj iron ore project in Mauritania.

Previously Aurvista’s president/CEO, Jean Lafleur now moves from his current position as VP of exploration into the advisory committee. He was instrumental in discovering new reserves for McWatters Mining gold projects in the Val-d’Or and Malartic camps, as well as developing a bulk gold exploration program at the Canadian Malartic property.

Thanking Lafleur for his service, Hornor said, “He has done an admirable job leading exploration and will continue to be a key contributor as we shift to a committee approach to integrate some of the brightest minds in the industry into our exploration planning and strategy going forward.”

Aurvista’s 30,500-hectare Douay project has a highway and transmission lines crossing the property and benefits from the Abitibi region’s labour, supplies and services. A March resource update, using a 0.5 g/t cutoff, calculated an inferred category for seven zones totalling 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces.

The recently completed spring/summer drill program totalled 59 holes and 23,965 metres.

Aurvista Gold to expand BOD, add advisory committee to further Abitibi project

July 24th, 2017

by Greg Klein | July 24, 2017

Update: On July 27 Aurvista Gold announced its technical advisory committee members.

Following an extensive drill program and ahead of an August 15 AGM, Aurvista Gold TSXV:AVA presented a lineup of nominees for an expanded board of directors and announced a management appointment to help advance the Douay project in Quebec’s Abitibi. Still to be named are personnel for a newly created technical advisory committee.

Aurvista Gold to expand BOD, add advisory committee to further Abitibi project

Aurvista hopes Highway 109 leads
to the “next big Canadian gold story.”

A veteran of Ivanhoe Mines TSX:IVN and its predecessor Ivanplats, David Broughton shared PDAC’s Thayer Lindsley and the Association for Mineral Exploration’s Colin Spence awards for major discoveries of copper at Kamoa, Democratic Republic of Congo, and PGMs at Flatreef, South Africa. Closer to Douay, he’s worked on mining projects in the Casa Berardi, Joutel, Timmins and Kirkland Lake areas. After retiring from his full-time position with Ivanhoe, Broughton became the company’s senior adviser of exploration and geology. He also works as a consultant for other companies.

Jay Chmelauskas acts as a corporate development consultant for Lithium Americas TSX:LAC after serving a number of roles including technology development, permitting, engineering, financing, construction and commissioning with one of the company’s predecessors, Western Lithium USA. As president/CEO of Jinshan Gold Mines, he led the development of China’s largest gold-producing operation and led exploration efforts that have since brought about an additional gold mine in China.

Pierre Lebel serves as chairperson of Imperial Metals TSX:III and a director of West Kirkland Mining TSXV:WKM. Holding an MBA as well as a law degree, he was named the Mining Association of British Columbia’s 2012 Mining Person of the Year and received AME’s E.A. Scholz medal for outstanding contribution to mine development in B.C.

With over 20 years of mining finance experience, Akiko Levinson has led Irving Resources CSE:IRV and Gold Canyon Resources TSXV:GCU, as well as serving as a director of Novo Resources TSXV:NVO.

Janine North’s background includes managing logging and trucking companies, as well as Crown land tenures in B.C. A former AME director who recently retired as the CEO of the Northern Development Initiative Trust, she currently serves as a director of Conifex Timber TSX:CFF and BC Hydro.

We are focused on building the next big Canadian gold story. Establishing an independent and diverse board with experience discovering world class deposits and leading top tier companies puts Aurvista in the best possible position to achieve success.—Matthew Hornor,
Aurvista Gold president/CEO

A 35-year metallurgical engineer, Maurice Tagami acts as VP of mining operations for Wheaton Precious Metals TSX:WPM, where he’s responsible for maintaining partnerships with 21 mines and eight development projects. He also served as president/CEO of Asanko Gold TSX:AKG predecessor Keegan Resources up to July 2012.

Aurvista president/CEO Matthew Hornor will be the company’s sole management nominee for the board. Running for re-election will be chairperson Gerald McCarvill and directors Edmund King and Sean Charland.

Joining the company as VP of corporate development, Joness Lang’s most recent experience includes six years with prospect generator Riverside Resources TSXV:RRI, where he co-led equity financings, built joint ventures and strategic alliances, and negotiated numerous gold and silver acquisitions.

Aurvista plans to announce a newly created technical advisory committee made up of “personnel covering all of the key disciplines required to bring the Douay gold project to the next level,” Hornor stated.

“We are focused on building the next big Canadian gold story,” he added. “Establishing an independent and diverse board with experience discovering world class deposits and leading top tier companies puts Aurvista in the best possible position to achieve success.”

The news follows a backlog of assays released last week from a 59-hole, 23,965-metre campaign on the 30,500-hectare property and recent financings that closed on $10.1 million.

Aurvista Gold unloads assays as drilling extends and expands Douay mineralization

July 17th, 2017

by Greg Klein | July 17, 2017

Aurvista Gold unloads assays as drilling extends and expands Douay mineralization

 

Following a $10.1-million private placement that closed the previous business day, Aurvista Gold TSXV:AVA greeted July 17 with a backlog of long-awaited assays from its Douay gold project in Quebec. The results wrap up a 59-hole, 23,965-metre campaign on Abitibi’s Casa Berardi deformation zone. Forty holes targeted the property’s four-kilometre-long porphyry trend, extension targets and mineralized zones parallel to the core porphyry system, the company reported.

Aurvista last released assays in early May.

Some high-grade highlights of the current batch came from the main porphyry zones, including the Porphyry, 20, 10, Central and new North zones:

Hole DO-17-197A

  • 0.51 g/t gold over 23.9 metres, starting at 80.4 metres in downhole depth

  • 13.35 g/t over 1.2 metres, starting at 130 metres
Aurvista Gold unloads assays as drilling extends and expands Douay mineralization

DO-17-200

  • 4.68 g/t over 4.5 metres, starting at 285 metres
  • (including 6.01 g/t over 1.5 metres)
  • (and including 7.16 g/t over 1.5 metres)

DO-17-202

  • 4.53 g/t over 9 metres, starting at 255 metres
  • (including 15.7 g/t over 1.5 metres)
  • (and including 6.86 g/t over 1.5 metres)

True widths were estimated at 90%.

DO-17-200 and 202 demonstrate additional potential along the North zone, while several strong intercepts from DO-17-187 expand known mineralization at the southern edge of the Porphyry zone, Aurvista stated.

Wide intervals were numerous too, with some standouts including 2.2 g/t gold over 23.1 metres, 2.11 g/t over 20.6 metres, 0.89 g/t over 36 metres and 0.79 g/t over 34.5 metres. The program also expanded known mineralization between the Porphyry and 20 zones, as well as one hole that extended mineralization past 600 metres in depth.

Looking at a final hole on Douay West, Aurvista sees potential to more than double the zone’s original footprint, making it a priority for further drilling. Twenty stepouts, meanwhile, confirmed the porphyry system extends northwest, the company added. Another 11 exploration holes tested VMS-style mineralization, finding results that included 1.81 g/t gold over 1.5 metres and 2.77% zinc over 6.4 metres.

The campaign naturally encourages speculation about the resource, last updated in March with a 0.5 g/t cutoff showing a total for seven zones:

  • inferred: 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces

Aurvista’s technical committee plans an early August site visit to help guide its next drill program, buoyed by $10.1 million in fresh financing.

Aurvista Gold closes $10.1-million private placement for Abitibi drilling

July 14th, 2017

by Greg Klein | July 14, 2017

A financing that began with a $7-million offer raked in gross proceeds of $6 million in charity flow-through and another $4.1 million in hard dollars, Aurvista Gold TSXV:AVA announced July 14. Insiders participated for $261,250. The total surpasses the $7.5 million raised last year to advance the Douay gold project in Abitibi’s Casa Berardi deformation zone.

Aurvista Gold closes $10.1-million private placement for Abitibi drilling

Past drilling brought visible encouragement for Aurvista Gold.

The private placement supplies “the necessary funds to carry out significant exploration and drilling in the months ahead with the aim of making new gold discoveries, connecting existing zones of mineralization and increasing resources,” said president/CEO Matthew Hornor. “We will also continue to make corporate improvements by establishing an expert technical committee and enhanced board of directors this summer.”

Using a 0.5 g/t cutoff, a March resource update for seven zones brought an inferred total of 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces. The company last reported assays in May, when results had been received for 25 of 53 holes totalling 21,065 metres.

Out of Douay’s 30,500 hectares, Aurvista holds a 100% interest in approximately 29,300 hectares and a 75% interest in the 1,190-hectare North West zone, a joint venture with 25% partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.

Read more about Aurvista Gold.

Ivanhoe veteran Matthew Hornor joins Aurvista Gold as president/CEO

May 23rd, 2017

by Greg Klein | May 23, 2017

Management changes should help Aurvista Gold TSXV:AVA move to the next level as Matthew Hornor takes charge of financial and business development while Jean Lafleur leads exploration at the company’s Douay project in Abitibi.

Ivanhoe veteran Matthew Hornor joins Aurvista Gold as president/CEO

Hornor’s background includes 10 years as VP and executive VP for Ivanhoe Mines, where he negotiated deals with international banking syndicates, strategic alliances and equity financings totalling more than $450 million. He also spent 10 years as managing director for Ivanhoe Capital and four years as chairperson for Ivanplats Holding SARL, owner of the Platreef platinum-palladium mine in South Africa.

As president/CEO of Kaizen Discovery TSXV:KZD from 2013 to 2016, Hornor arranged project acquisitions, equity financings and a collaboration agreement with ITOCHU Corp, a prominent Japanese trading and investment house. Fluent in Japanese, he began his mining career in Japan 27 years ago. He visits the country frequently, maintaining relationships with major corporations, mining companies, investment firms and trading houses.

The appointment also allows Jean Lafleur to move from president/CEO to VP of exploration on the Douay project in Abitibi’s Casa Berardi deformation zone. Hornor’s experience “speaks for itself,” Lafleur said, “and having his corporate, capital markets and project financing leadership will help us accelerate the company’s growth and true value. I look forward to leading our exploration team in Quebec and working with our group to define the ultimate extent of gold mineralization at Douay.”

Well underway is a 43-hole, 30,000-metre campaign with an update planned later this year for a resource that currently shows an inferred 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces. Among results released so far, the company announced stepout intercepts earlier this month despite an assay lab backlog caused by the pace of drilling. In March Aurvista announced initial metallurgical test results in line with comparable Abitibi projects.

Last month the company more than doubled its Douay land position, which now stands at 30,500 hectares. Aurvista holds a 100% interest in about 29,300 hectares and a 75% interest in the 1,190-hectare North West zone, with the remainder held by JV partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.

Read more about Aurvista Gold.

Aurvista steps out to find more Abitibi gold

May 8th, 2017

by Greg Klein | May 8, 2017

Stepout drill results have Aurvista Gold TSXV:AVA increasingly optimistic about potential outside the Douay project’s resource area. The program on Abitibi’s Casa Berardi deformation zone has so far seen 53 holes totalling 21,065 metres, with results received for 25 holes. Some highlights from a batch of assays released May 8 include holes DO-17-169 and DO-17-173 from northwest of the Porphyry zone:

DO-17-169

  • 2.46 g/t gold over 4.5 metres, starting at 312 metres in downhole depth

  • 0.44 g/t over 3 metres, starting at 325.5 metres

  • 0.72 g/t over 9 metres, starting at 336 metres

An earlier interval from DO-17-169, among assays released last month, showed 0.79 g/t over 34.5 metres.

Aurvista steps out to find more Abitibi gold

Previous core from Douay
reveals visible gold.

DO-17-173

  • 0.64 g/t over 7.5 metres, starting at 132 metres

  • 0.55 g/t over 4.5 metres, starting at 196.5 metres

  • 2.19 g/t over 3 metres, starting at 219 metres

A few other highlights include:

DO-17-165

  • 0.86 g/t over 7.5 metres, starting at 143.5 metres

  • 0.42 g/t over 6 metres, starting at 306.5 metres

DO-17-167

  • 0.36 g/t over 18.5 metres, starting at 209.5 metres

True widths are estimated at about 90%.

A resource update released in March used a 0.5 g/t cutoff for eight zones totalling:

  • inferred: 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces

With another resource update planned for later this year, drilling continues backed by $7.5 million raised last year. But the pace might exceed lab capacity. “Due to increased investment and high volume of exploration and drilling currently underway in the Douay region, assay labs are backed up and we have taken the necessary steps to expedite the assay process for the remainder of the program,” said president/CEO Jean Lafleur. “We look forward to results from 25-plus more drill holes from high-priority target areas at Douay.”

In March Aurvista released preliminary metallurgical test results that the company said were in line with comparable Abitibi projects. More tests are planned this year.

With additional claims staked last month, Douay now totals 30,500 hectares. Aurvista holds a 100% interest in approximately 29,300 hectares and a 75% interest in the 1,190-hectare North West zone, a JV with 25% partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.