NEWS... El Sastre005-03-29 10:53 ET - News Release
Shares issued 27,119,055
AUQ Close 2005-03-28 C$ 0.12
Mr. John Paterson reports
AUROGIN RESOURCES LTD.: EL SASTRE RESOURCE ESTIMATE
Aurogin Resources Ltd. has completed an estimate of the El Sastre mineral resource. The indicated resource, using a one-gram-per-tonne gold cut-off, totals 370,000 tonnes grading 4.1 grams per tonne, containing 49,251 ounces of gold. The inferred resource, also using a one-gram-per-tonne cut-off, totals 1,165,000 tonnes grading 3.1 grams per tonne, containing 117,265 ounces of gold. The resource was estimated by Toren K. Olson, PGeo, the independent qualified person responsible for the National Instrument 43-101 technical report dated March 23, 2005, which will be filed shortly on SEDAR. The mineralization at El Sastre has been traced over an area of at least 500 metres by 300 metres. The resource estimate was based on assays from 38 percussion drill holes, eight reverse circulation drill holes and over 1,000 trench, pit, channel and chip samples. A block model was developed using a search envelope of 10 by 10 by five metres for indicated resources and 25 by 25 by five metres for inferred resources. A specific gravity of 2.5 was used and no assays were cut. Investors should note that mineral resources that are not mineral reserves do not have demonstrated economic viability.
"We are very pleased with the results of the resource estimation," said John Paterson, PEng, Aurogin's president and chief executive officer. "Having grades in the three-to-four-gram-per-tonne range to go along with the excellent leaching characteristics of the material make this deposit a very attractive heap leach development candidate."
The company carried out column, bottle roll and percolation testing on a bulk sample taken from the property in July, 2004, and all gold recoveries were greater than 92 per cent. The column test was run on unagglomerated, minus-two-inch material and gave a recovery of 97 per cent in 15 days (see news in Stockwatch Oct. 18, 2004).