Minnova Corp V.MCI

Drill Results- "gaining confidence"

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Aurga Gold Aia.v - drill results
"We are gaining confidence in the data set to upgrade the historic resources and establish near-surface gold resources that could potentially contribute to a rapid restart of the past producing mine."


This is what we've been wiating for; a confirmation of near surface grades and from these latest results, it looks like the chances of an open starter pit is more likely. I think this bodes very well.
We are now rounding second base...........
Auriga Gold Continues to Intersect Near Surface Mineralization at the Maverick Gold Project, Manitoba
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Companies:AURIGA GOLD CORP
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Press Release Source: Auriga Gold Corp. On Thursday April 28, 2011, 7:30 am
TORONTO, ONTARIO--(Marketwire - April 28, 2011) - Auriga Gold Corp. (TSX VENTURE:AIA - News; "Auriga Gold" or the "Company") reports further encouraging results from drilling at the Company's Maverick Gold Project, including a second set of results from the Phase 2 drilling program to test near-surface gold mineralization. The Maverick Gold Project, located 65 km northeast of Flin Flon, Manitoba, includes the past-producing Puffy Lake Mine and on-site mill, the adjacent Nokomis Property, and recently staked mining claims covering a total of 6,640 hectares (66.4 km(2)).
The current results, holes A3-24 to A3-28, along with the previously reported holes, A3-16 to A3-23 (see press release dated April 12, 2011) were drilled in the southern area of the Puffy Lake deposit to test near surface gold mineralization approximately 300 metres southeast of the mine portal in the vicinity of section 325N. Highlights include: A3-24 which intersected 2.7 meters grading 5.08 g/t gold at a depth of 30.9 meters, and A3-16 which intersected 5.0 metres grading 6.59 g/t gold at a depth of 8.20 metres. In general, gold mineralization in these holes has been consistent with the historic drill holes and resources in this area of the Puffy Lake deposit.
Richard Sutcliffe, Auriga Gold's President and CEO commented, "These results further demonstrate the consistency of gold mineralization and conform to results in historic drill holes at the Puffy Lake deposit. We are gaining confidence in the data set to upgrade the historic resources and establish near-surface gold resources that could potentially contribute to a rapid restart of the past producing mine."
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MAVERICK GOLD PROJECT - PUFFY LAKE PROPERTY
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SUMMARY OF PHASE 2 ASSAYS (Southern Near Surface Mineralization)
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Azimuth/ From To Length Gold
Hole Location Dip (m) (m) (m) gpt
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A3-16 373435E/6100181N 0/-90 8.20 13.20 5.00 6.59
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incl. 11.20 13.20 2.00 11.98
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A3-17 373435E/6100181N 235/-45 12.10 14.50 2.40 2.77
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A3-18 373454E/6100152N 0/-90 no significant assays
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A3-19 373454E/6100152N 235/-45 18.50 18.90 0.40 19.06
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A3-20 373457E/6100102N 0/-90 10.80 12.80 2.00 2.99
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A3-21 373457E/6100102N 235/-45 8.60 11.80 3.20 3.60
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A3-22 373457E/6100052N 0/-90 16.10 17.60 1.50 1.29
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and 23.60 29.10 5.50 1.18
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A3-23 373457E/6100052N 235/-45 13.20 15.45 2.25 2.29
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and 22.50 23.50 1.00 4.06
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A3-24 373511E/6100017N 0/-90 22.35 22.61 0.26 26.26
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and 30.90 33.55 2.65 5.08
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A3-25 373511E/6100017N 235/-45 21.29 21.50 0.21 43.85
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and 31.47 34.23 2.76 2.99
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A3-26 373537E/6099974N 0/-90 29.86 32.23 2.37 7.08
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Incl. 30.36 30.90 0.54 22.74
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and 40.01 40.32 0.31 6.30
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A3-27 273537E/6099974N 235/-45 Intersected former mine workings
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A3-28 373562E/6099936N 0/-90 25.78 27.40 1.62 2.30
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and 29.80 30.16 0.36 5.32
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and 35.14 35.95 0.81 9.05
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Note: true intercept widths are currently estimated at 85-100% of drilled
widths
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The Phase 1 drilling (15 holes for 3,350 meters) to confirm historical (pre NI 43-101) gold resources at the past-producing Puffy Lake mine has recently been completed and assay results on six remaining holes are pending. The Phase 2 program includes 32 planned drill holes for a total of 1,600 meters to test the potential of shallow open pit mining of the mineralized vein system.
A plan section showing the location of the diamond drill holes in relation to historical reserve blocks is available on the Company's website at www.aurigagold.ca.
About Auriga Gold
Auriga Gold Corp. is a Canadian mine development and exploration company focused on expanding gold resources and developing the combined Puffy Lake and Nokomis properties (the Maverick Gold Project"). The Company plans to upgrade and expand the historic resources at the Maverick Gold Project and bring the Puffy Lake Mine back into production. The Puffy Lake Mine includes a 1,000 tpd flotation mill, a developed underground ramp to 130 metres depth, is road accessible and close to existing mining infrastructure. In 1993, Kilborn Engineering Pacific Ltd. estimated that the property contained probable resources of 1,346,200 tonnes of mineralization @ 8.57 g/t Au and possible resources of 833,700 tonnes @ 7.15 g/t Au. The resource was estimated as part of a 1993 feasibility study prepared for Pioneer Metals and uses a cut-off grade of 3.5 g/t Au and a minimum mining width of 1.2 metres. The Maverick Gold Project is located in the Flin Flon Greenstone Belt of Central Manitoba.
NI 43-101: A qualified person has not done sufficient work to verify the historical resource estimates at Puffy Lake and Nokomis. These historic estimates predate NI 43-101, are not compliant with current definitions, have not been verified by the company and consequently should not be relied on by investors. The historical estimates are provided as an indication of historically reported estimates.
Qualified Person
The Company's Qualified Person ("QP") for the drill program at the Maverick Gold Project is Bruce Mackie, P.Geo. As QP, Mr. Mackie has prepared or supervised the preparation of the scientific or technical information for the property and has verified the data disclosed in this press release.
Sample Preparation, Analyses and Security
The assay and sample information as well as geological descriptions are taken from drill logs as prepared by the project geologists for the drill program. All drill cores are NQTW in size and assays are completed on split or sawed half-cores, with the second half of the core kept for future reference. The samples are put into rice bags which are sealed with security locks for shipping directly to Accurassay Laboratories, an accredited assay laboratory, in Thunder Bay, Ontario. The samples are analysed using standard fire assay procedures with an AA/ICP finish, using 50g aliquots. Assay results greater than 2.50 gram per tonne will be rerun using a gravimetric finish. In addition to the standard quality control of the laboratory, a series of blanks and standards are inserted in every shipment for quality control purposes.
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable.
Neither 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.
Contact:
Dr. Richard H. Sutcliffe
Auriga Gold Corp.
President and CEO
416-214-2785
[e-mail]
Alison Tullis
Auriga Gold Corp.
Manager, Investor Relations
416-214-2785
[e-mail]
www.aurigagold.ca