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

Stocks in this article: AUQ

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."

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