Friday 28th April 2017

Resource Clips


Posts tagged ‘Aurvista Gold Corp (AVA)’

Aurvista Gold more than doubles its Abitibi-region Douay project

April 5th, 2017

by Greg Klein | April 5, 2017

Maybe partly inspired by a recent expansion of mineralization, Aurvista Gold TSXV:AVA has expanded its Douay gold project to more than twice its previous size. Taking advantage of recently abandoned claims, the company staked another 16,440 hectares, increasing the property to about 30,500 hectares along a 40-kilometre stretch of the Abitibi’s Casa Berardi deformation zone.

Aurvista Gold more than doubles its Abitibi-region Douay project

The new land has airborne geophysics and ground surveys scheduled for summer.

Aurvista now 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.

Two days earlier Aurvista released assays boasting good grades over wide intervals, one of which expanded Douay’s Main porphyry zone by 500 metres. Having raised $7.5 million in 2016, the company has three rigs conducting a 30,000-metre campaign, with a year-end goal of updating the resource, currently showing an inferred 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces.

Last week Aurvista announced preliminary metallurgical results that the company said were in line with comparable Abitibi projects.

Read more about Aurvista Gold.

Aurvista Gold extends Main zone as three rigs tackle the Abitibi’s Douay project

April 3rd, 2017

by Greg Klein | April 3, 2017

With 29 holes and 11,363 metres finished so far out of a 30,000-metre program, Aurvista Gold TSXV:AVA announced a 500-metre strike expansion northwest of the Douay project’s Main porphyry zone. The extension comes from hole DO-17-169:

  • 0.79 g/t over 34.5 metres, starting at 204 metres in downhole depth

Additional assays for this hole are still to come. Six of the 10 holes reported April 3 searched for Main zone extensions, with highlights showing:

Aurvista Gold extends Main zone as three rigs tackle the Abitibi’s Douay project

Located on the Abitibi’s Casa Berardi deformation zone,
Douay has another resource update planned this year.

DO-17-155

  • 0.59 g/t gold over 31.5 metres, starting at 55.5 metres

DO-17-156

  • 1.26 g/t over 12 metres, starting at 121.5 metres

DO-17-158

  • 0.83 g/t over 23.2 metres, starting at 227.3 metres

  • 0.99 g/t over 7.5 metres, starting at 279 metres

  • 0.98 g/t over 13.4 metres, starting at 306.7 metres

  • 1.05 g/t over 19 metres, starting at 387.4 metres

True widths were estimated at 90%.

Assays are pending for 13 additional holes, 10 of them at the Main zone, which has another 10 holes planned. An earlier batch released in February saw results up to 2.11 g/t over 20.6 metres and 2.2 g/t over 23.1 metres. Overall, 93% of the program’s results have equalled or exceeded the resource’s 0.5 g/t cutoff, Aurvista president/CEO Jean Lafleur stated. This year’s update shows an inferred category of 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces. The company anticipates another update by year-end.

Aurvista has three rigs on site to extend mineralization along east-west corridors and expand individual zones. Results “have provided favourable indications that previously ‘unmineralized’ segments of the Douay West and the Main porphyry zones are in fact mineralized,” the company stated.

Preliminary metallurgical results released last week showed recoveries in line with comparable Abitibi projects, Aurvista announced. Gold recovery averaged 26% from gravity and 66% from flotation, for a total of 92%. Cyanidation leaching of a gravity and flotation concentrate came to 85% recovery.

Also last week, Aurvista bought the remaining 10% interest of a 20-hectare portion of the 14,520-hectare Douay property for $12,500 from Société d’exploration minière Vior TSXV:VIO. In January Aurvista bought back a 1.5% NSR on 32 claims for $325,000. Aurvista offset most of those costs by selling 1.08 million Vior shares for $215,551. Aurvista raised $7.5 million in 2016.

The company now holds a 100% interest in 13,330 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.

Read more about Aurvista Gold.

Aurvista Gold completes initial met tests for Abitibi project

March 21st, 2017

by Greg Klein | March 21, 2017

Aurvista Gold TSXV:AVA declared preliminary metallurgical results for its Douay deposit “in line with the recoveries achieved elsewhere in the Abitibi belt at projects with comparable mineralization styles and similar or lower gold grades.” Ten composite samples totalling 311 kilograms and averaging 1.89 g/t gold from seven zones underwent the tests.

Aurvista Gold completes initial met tests for Abitibi project

Visible gold enhances Aurvista’s
confidence in its Abitibi deposit.

With consistent results, gold recovery averaged 26% from gravity and 66% from flotation, for an average total of 92%. The correlation between gold and sulphur recovery suggested the metal’s association with sulphide minerals.

Cyanidation leaching of a gravity and flotation concentrate averaged 85% recovery. The process improved recovery of samples from the project’s North West zone, characterized by a felsic volcanic host rock, but other composites did better. Excluding the North West samples, recovery averaged 88.9% for material from mafic volcanic and porphyry host rocks.

Results suggest capex and opex advantages to gravity-flotation-leach over an entirely leach process. The company has further tests planned later this year to optimize results and lower costs.

Earlier this month Aurvista issued a clarifying news release with an amended resource estimate. Using a 0.5 g/t cutoff within a conceptual pit shell, Douay’s eight zones total:

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

Last month Aurvista released assays up to 2.2 g/t over 23.1 metres. Backed by $7.5 million raised in 2016, the company has about 30,000 metres of additional drilling planned this year.

Douay consists of 14,520 hectares along a 20-kilometre segment of the Casa Berardi deformation zone in Quebec’s Abitibi region. Aurvista holds a 100% interest in 13,310 hectares, a 90% interest in 20 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.

Read more about Aurvista Gold.

The Aurvista Gold team reflects on a successful year at the Douay project

March 10th, 2017

…Read more

Aurvista drills 2.2 g/t gold over 23.1 metres, plans more rigs for Abitibi campaign

February 22nd, 2017

by Greg Klein | February 22, 2017

With a second rig now onsite and more planned to arrive, Aurvista Gold TSXV:AVA reported assays from its Douay gold project in Quebec’s Abitibi region on February 22. So far the crew has sunk 11 holes totalling 4,936 metres on three zones of the property’s Adam Creek deposit. The current program calls for 30,000 metres. Some highlights from the latest results include:

Hole DO-16-147

  • 2.11 g/t gold over 20.6 metres, starting at 150 metres in downhole depth (Douay West zone)

DO-16-149

  • 2.2 g/t over 23.1 metres, starting at 90 metres (Upper Douay West)

DO-17-150

  • 0.89 g/t over 36 metres, starting at 204 metres (New zone)

DO-17-151

  • 3.53 g/t over 4.5 metres, starting at 70.5 metres (Douay West North A)
Aurvista drills 2.2 g/t gold over 23.1 metres, plans more rigs for Abitibi campaign

The latest results extend known mineralization along
east-west structural corridors and down-dip of
previous intersections, Aurvista stated.

True widths were estimated at 90%.

“The objective of the first drill holes was to prove the new geological model by extending the known mineralization along east-west corridors in proximity to three known gold zones,” stated COO Keith Minty. “A limited number of historic drill holes were twinned and new holes were drilled that visually extended the gold mineralization along the corridors and down-dip of previous intersections.”

With $7.5 million raised last year, the company plans to add more rigs to seek horizontal and vertical extensions of several zones and their potential connections.

The project’s 2012 base case resource applied a 0.3 g/t cutoff to eight zones along a five-kilometre trend:

  • indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces

  • inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces

The resource ends at a vertical depth of approximately 400 metres.

Douay totals 14,520 hectares. Aurvista holds a 100% interest in 13,310 hectares, a 90% interest in 20 hectares and a 75% interest in the 1,190-hectare North West zone. The NW zone consists of a joint venture with 25% partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.

Earlier this month the company announced four management additions. Last week Aurvista began trading on the OTCQB Venture Market in the U.S. under the symbol ARVSF.

Read more about Aurvista Gold.

Aurvista Gold advances Abitibi project with drilling, hiring, buying

February 2nd, 2017

by Greg Klein | February 2, 2017

Having raised $7.5 million last year in three private placements at increasing prices, Aurvista Gold TSXV:AVA outlined aggressive plans for its Douay gold-base metals project in Quebec’s Abitibi region. Along with the announcements came new expertise introduced February 2.

Exploration manager Alex Horvath’s 30-year career includes service as COO/VP of exploration for Champion Iron TSX:CIA, where he played a major role in the Bloom Lake acquisition. He also spent 20 years with Asarco Inc and Asarco Exploration, taking part in exploration, project generation and ore reserve estimates, among other responsibilities.

Aurvista Gold advances Abitibi project with drilling, hiring, buying

As mineral co-ordinator of resources and project development, Peter Karelse brings three decades of experience in exploration, resource development, and both underground and open pit mining. He’s helped bring three projects into production.

Database co-ordinator Antoine Yassa’s CV shows a 35-year international background using database management and software for resource estimates, project evaluation and resource modelling.

With a 40-year involvement in precious metals, base metals, chromium, lithium, graphite and uranium exploration and mining projects, Yvan Bussières takes the role of Douay gold project co-ordinator.

The new faces “bring a significant amount of both intellectual capital and operational experience and will be key members of the company as we grow our strong foundation of quality gold resources,” said president/CEO Jean Lafleur.

Two days previously the company announced the buy-back of a 1.5% NSR on 32 claims within Douay from Northern Abitibi Mining TSXV:NAI for $325,000. Aurvista CFO Bryan Keeler said the purchase “cleans up project ownership, improves the Douay economics and opens up opportunities in future financing.”

The entire geological picture of Douay was changed from a convoluted mixture of poorly understood and unrecognizable rock units and unconnected mineralized zones to now well-recognized volcanic rocks and a porphyries package typical of Abitibi belt gold-bearing deposits.

With a 74-hole, 30,000-metre drill program that began testing nine targets last month, the company vowed to move into “a more aggressive exploration stage by adding additional gold mineralization within a series of east-west corridors, termed the Adam Creek gold deposit, covering for now a minimum 10 kilometres by three kilometres of prime exploration ground.”

A Q2 resource update will take into consideration re-interpreted historic core as well as new assays. Preliminary metallurgical tests have also begun.

Among last year’s accomplishments, the company stated, “the entire geological picture of Douay was changed from a convoluted mixture of poorly understood and unrecognizable rock units and unconnected mineralized zones to now well-recognized volcanic rocks and a porphyries package typical of Abitibi belt gold-bearing deposits. At Douay, these rocks structurally host for now an identified minimum of 11 gold-bearing lenses. The 10-kilometre-long gold system remains open along the remaining 10-kilometre strike length and at depth below 300 metres.”

Using a 0.3 g/t cutoff, a 2012 resource for eight zones along a five-kilometre trend totalled:

  • indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces

  • inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces

The resource stopped at a vertical depth of about 400 metres.

Of the 14,520-hectare property, Aurvista holds a 100% interest in 13,310 hectares, a 90% interest in 20 hectares and a 75% interest in the 1,190-hectare North West zone. The latter comprises a JV with 25% partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.

Read more about Aurvista Gold.

Aurvista Gold reinforces EM prior to drilling Abitibi property

December 19th, 2016

by Greg Klein | December 19, 2016

Following up on last summer’s airborne EM, Aurvista Gold TSXV:AVA plans to complete a ground survey on its Douay gold project by next month. The company describes the University of Toronto Electro-Magnetic system as “different from other EM systems in that it can detect good EM conductors in the presence of poorer ones…. UTEM sees both the freely decaying and directly driven part of the magnetic field. It is this second aspect that makes UTEM unique and so important in detecting and characterizing extremely conductive deposits such as massive sulphides.”

Aurvista Gold reinforces EM prior to drilling Abitibi property

Aurvista’s Douay project gained a nearly
$6-million private placement last month.

The survey will target three near-surface conductive bedrock anomalies surrounding the Abitibi project’s South porphyry. Last summer’s EM also found four anomalies proximal to the Casa Berardi deformation zone, northwest of the Adam Creek gold deposit.

Aurvista considers one of the current targets, anomaly E, most promising because of its location near the gold-bearing Main, South and Adam porphyries. “There are chlorite-sulphide bearing feeder pipes nearby as observed in drill holes DO-92-24 and DO-11-34, typically found in association with massive sulphide mineralization, yet to be found at Douay,” the company stated.

The other two targets, anomalies F and G, are larger “but are believed, based on nearby re-logged drill core from the Phase I program, to be related to sulphide mineralization.”

Last week the company announced it had chosen seven drill locations to update resources for four of the project’s zones. Eight zones were included in a 2012 resource estimate that used a 0.3 g/t cutoff and totalled:

  • indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces

  • inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces

In November the company closed a private placement of $5.99 million.

Of the 14,520-hectare project, Aurvista holds 100% of 13,310 hectares, 90% of 20 hectares and 75% of 1,190 hectares.

Read more about Aurvista Gold.

Aurvista Gold selects initial drill targets to update Abitibi resources

December 12th, 2016

by Greg Klein | December 12, 2016

Analysis has identified the next seven drill locations for Aurvista Gold’s (TSXV:AVA) Douay project in Abitibi. Totalling about 3,700 metres, this phase of drilling’s intended to update resources for four of the project’s zones, Douay West, Northwest, Porphyry (Adams section) and Central, the company reported December 12. The 14,500-hectare property hosts eight zones with resource estimates along a five-kilometre northwest-southeast trend. That, in turn, sits within a 20-kilometre trend of lower-grade porphyry.

Aurvista Gold selects initial drill targets to update Abitibi resources

In a 2012 resource estimate using a 0.3 g/t cutoff, the eight zones totalled:

  • indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces

  • inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces

Meanwhile work continues on geological, geochemical, assay and geophysical data to build a 3D model by Q1 2017. The agenda includes re-logging more than 300 historic holes totalling 98,135 metres. About 4,000 samples of historic core have been sent for gold-copper-zinc assays. The core also underwent analysis with a hand-held XRF device to take magnetic and conductive readings.

In addition, a mapping program focused on the property’s 10-kilometre by three-kilometre Adam Creek area “that encompasses the former Douay-style mineralization sector containing the higher- and lower-grade gold zones associated with the nine individual east-west shear zones and three subparallel structural domains,” Aurvista stated. Fifty-eight grab samples were collected west of the area.

Last month the company closed a private placement of just under $6 million.

Read more about Aurvista Gold.

Abitibi drilling nears as Aurvista Gold closes $6-million private placement

November 18th, 2016

by Greg Klein | November 18, 2016

Bringing in Primary Capital, PowerOne Capital and their clients as shareholders, Aurvista Gold TSXV:AVA completed a financing of $5.99 million effective November 15.

Abitibi drilling nears as Aurvista Gold closes $6-million private placement

A 3,000-metre program this quarter will
precede another 20,000 metres in H1 2017.

“Their financing also marks a major milestone in our history,” said Aurvista president/CEO Jean Lafleur. “We can now start proving up the full bulk gold potential of Douay. Drilling is slated to begin later in the quarter on a series of priority targets which will be summarized shortly. The initial drilling campaign will total 3,000 metres to be completed before year-end. This will be followed in Q1 to Q2 of 2017 by an additional 20,000 metres of drilling.”

The company has been busy analyzing and relogging previous drill core in efforts to link gold zones to some of the nine shears on the company’s sole asset.

A 2012 resource estimate used a cutoff of 0.3 grams per tonne, with eight zones along a five-kilometre trend totalling:

  • indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces

  • inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces

Aurvista holds a 100% interest in 13,310 hectares of the 14,520-hectare property, a 90% interest in 20 hectares and a 75% interest in 1,190 hectares.

Read more about Aurvista Gold.

Aurvista Gold defines Abitibi targets for November drilling

September 27th, 2016

by Greg Klein | September 27, 2016

As a comprehensive program of analyzing and relogging previous drill core continues, Aurvista Gold TSXV:AVA prepares to resume drilling its Abitibi-region Douay project in Q4. So far 74,580 metres of core from 228 historic holes have been re-logged, the company reported September 27. Another 23,830 metres from 105 historic holes remain. The program will also consider previous Aurvista drilling of 127 holes totalling 42,955 metres.

Aurvista Gold defines Abitibi targets for November drilling

The campaign has taken around 19,000 readings of core using a handheld X-ray fluorescence spectrometer (XRF) for geochemical analysis. About 7,000 more readings are expected, the company stated.

Aurvista has identified nine east-west shears and three subparallel structural domains on the property.

“The company believes that it can link the known gold zones to specific shears and potentially predict where to find additional gold mineralization,” said president/CEO Jean Lafleur. “Even more critical in terms of the overall potential, there are two distinct but overlapping metal signatures at Douay. The first is a primary volcanogenic massive sulphide of copper-zinc affinities crosscut by a secondary shear-hosted gold system. This interpretation is very similar to the Doyon-Bousquet-Laronde mining camp located 100 kilometres south-southwest of Douay, along the Cadillac-Larder Lake Deformation Zone.”

Aurvista anticipates sinking 4,000 metres from mid-November into the new year. The property has electrical grid connection and road access to a highway five kilometres away leading to Val-d’Or, 165 kilometres south.

In July the company closed a $500,000 private placement that followed a $1.1-million placement completed in May.