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) 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
. Not true widthOutside 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.
Hole ID From (m) To (m) Length (m) 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
. Not true widthEl 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
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