This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AuRico Gold Provides An Update On The 2013 El Chanate Exploration Program

TORONTO, September 12, 2013 /PRNewswire/ --

AuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), ("AuRico" or the "Company") is pleased to provide an update on its exploration program at the El Chanate mine located in Sonora, Mexico. The objective of the 2013 program is to further delineate mineralization within the existing open pit and expand the known mineralization along the Chanate trend in order to potentially convert this mineralization into mineral resources.

El Chanate Exploration Program

Since May, two reverse circulation drills have completed 80 holes (19,175 metres) to date within the current open pit and in the three target areas located along trend of the open pit (Rono, North West Extension and Loma Prieta) ( Figure 1).

The drilling program within the current open pit has intersected a new type of mineralization below the ultimate open pit floor, which is significantly higher in grade than the current reserve grade and is hosted within a strongly silicified siltstone adjacent to a fault structure. Drilling highlights include:
    Hole ID  From (m) To (m) Length (m)[1] Grade Au g/t
    CHCI-775  160.5   214.5      54.0          2.56
    CHCI-776  126.0   174.0      48.0          2.90
    CHCI-799  246.0   252.0       6.0          7.60
    CHCI-836  246.0   270.0      24.0          2.70
      [1]. Not true width

Outside the open pit, the drilling program is focused on three targeted areas along the Chanate Fault:
  • The North West Extension area, located 50 metres northwest of the ultimate open pit design ( Figure 2), where 24 of 26 holes intersected grades that are equal to, or exceed, current cut-off grades;
  • The Rono target area, located 600 metres northwest of the ultimate open pit design ( Figure 3), where 19 of 23 holes drilled in 2012 and 2013 intersected a broad zone of gold mineralization with grades that are equal to, or exceed, current cut-off grades; and
  • The Loma Prieta target area, located 1.2 kilometres southeast of the ultimate open pit ( Figure 4), where 11 of 18 holes have intersected a quartz vein structure with grades that are equal to, or exceed, current cut-off grades.

Drilling highlights include:
    Hole ID  From (m) To (m) Length (m)[1] Grade Au g/t    Target
    CHCI-769  186.0   223.5      37.5          0.94     NW Extension
    CHCI-800  169.5   198.0      28.5          0.67     NW Extension
    CHCI-760  174.0   192.0      18.0          0.88         Rono
    CHCI-761   67.5   109.5      42.0          0.50         Rono
    CHCI-766  130.5   181.5      51.0          0.33         Rono
    CHCI-821  171.0   178.5       7.5          0.74         Rono
              207.0   226.5      19.5          0.93         Rono
    CHCI-815   60.0    79.5      19.5          0.78     Loma Prieta
    CHCI-817   76.5    85.5       9.0          1.37     Loma Prieta
    CHCI-818   79.5    88.5       9.0          0.58     Loma Prieta
    CHCI-829   73.5    79.5       6.0          1.18     Loma Prieta
      [1]. Not true width

El Chanate Expanded Land Package

On June 28 th AuRico completed an Option/Joint Venture agreement with Highvista Gold to explore approximately 11,600 hectares of claims located to the northwest of the open pit that provides access to an additional 15-20 km of the El Chanate Fault ( Figure 5). The agreement grants AuRico the option to earn a 51% undivided interest in the El Chanate Extension by incurring an aggregate of $3 million in exploration expenditures over the next three years. The Company can earn a further 19% interest in the joint venture (bringing its aggregate interest to 70%) by funding the preparation of a feasibility or prefeasibility study on the property.

"The 2013 exploration program continues to report encouraging results from both the in-pit drilling program where intercepts reported grades significantly higher than reserve grades, as well as from the target areas that lie along the Chanate fault where the majority of holes were higher than current cut-off grades," stated Chris Rockingham, V.P. Exploration. He continued, "The results to date provide additional confidence in the potential for resource growth and mine life extension at El Chanate."

Quality Control - Analyses and Sample Location

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs