The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

AuRico Gold Provides an Update on the 2012 El Chanate Exploration Program

Monday, October 22, 2012

AuRico Gold Provides an Update on the 2012 El Chanate Exploration Program08:00 EDT Monday, October 22, 2012TORONTO, Oct. 22, 2012 /CNW/ - 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 2012 exploration program has identified two new discoveries that are directly on trend of the open pit as well as the extension of the previously identified North West zone located approximately 50 metres northwest of the open pit. The newly discovered Rono zone is approximately 600 metres northwest of the open pit and the Loma Prieta zone is approximately 1.2 kilometres southeast from the ultimate pit boundary.El Chanate Mine (looking south): http://files.newswire.ca/975/Figure1ElChanate.pdfOne diamond drill and one reverse circulation drill have been operating on the property since the second quarter of the year with 13 core holes (4,966 metres) and 103 reverse circulation holes (19,605 metres) having been completed to date. At the North West zone, five drill holes, over a 300 metre strike length, intersected intervals of 6 to 27 metres down hole with grades comparable to material currently being mined in the main open pit (reserve grade 0.65 g/t Au and resource grade of 0.42 g/t Au) as shown in the table below.  Given that the boundary of this zone is within 50 metres of the ultimate El Chanate open pit outline, there is a high probability that additional drilling could upgrade confidence in the mineralization and convert it into mineral resources.Drilling Highlights Hole ID  From  (m)    To  (m)    Length (m)    Grade Au g/t  North West Zone  CHCI-731  183.0192.09.00.31210.0217.57.50.26CHCI-73255.582.527.00.45CHCI-73324.034.510.50.91CHCI-734133.5141.07.51.51CHCI-73597.5103.56.02.07CHCI-7497.521.013.50.19RonoCHCI-74076.5135.058.50.27CHCI-741114.0166.552.50.34Loma PrietaCHCI-70546.554.07.50.92CHCI-71652.564.512.08.35CHCI-71758.566.07.53.6088.593.04.56.52CHCI-72561.575.013.51.70CHCI-72748.054.06.04.52CHCI-74764.570.56.02.10The Rono discovery is in the area of an historic working, six hundred metres northwest of the El Chanate ultimate pit outline. Hole CHCI-741 intersected 52.5 metres of 0.34 g/t gold including 24 metres of 0.49 g/t gold and 12 metres of 0.37 g/t gold. A second hole CHCI 740,120 metres along strike, intersected 0.27 g/t gold over 58.5 metres. This zone is open along strike in both directions."Rono" Area RC Holes Location: http://files.newswire.ca/975/Figure2Rono.pdfA third zone of mineralization ("Loma Prieta") has been discovered approximately 1.2 kilometers southeast of the ultimate pit. Six holes (CHCI-705, 716, 717, 725, 727 and 747) intersected mineralization at less than 70 metres depth. The zone is somewhat atypical of El Chanate mineralization in that there is a higher grade portion, on occasion in excess of 10 g/t gold, rather than a broad zone of disseminated mineralization. Although the size of this zone is limited by drilling to the northwest and volcanic rocks immediately to the southeast, the discovery is encouraging in that the trend of this mineralization is the same as that of the main El Chanate deposit and is untested for three and a half kilometres along trend on the El Chanate concessions."Loma Prieta" Area RC Holes Location: http://files.newswire.ca/975/Figure3LomaPrieta.pdfChris Rockingham, V.P. Exploration commented "This is the first time that AuRico's exploration program at El Chanate has focused on understanding the potential for extending the open pit mineralization beyond the existing ore body. The new discoveries at El Chanate are directly on trend from the open pit and represent a strong indication of potential resource growth. This year's exploration program and the success based plan proposed for next year, will continue to focus on follow-up drilling in these areas and beyond, to further evaluate the significant exploration potential at El Chanate."Quality Control - Analyses and Sample Location Details of quality assurance/quality control procedures for sample analysis and drill hole survey methodology are reported in detail in the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Reports filed on SEDAR (www.sedar.com) on November 27, 2009 for El Chanate. Gold analyses for the project were performed by an independent, accredited commercial laboratory using standard fire assay procedures with an AA finish. The Company maintains a Quality Assurance - Quality Control program including the insertion of commercial control reference pulps and blanks in all its drill programs, along with a dedicated QA-QC person to monitor results. Sample lengths are not necessarily true widths.Qualified Persons The program design, implementation, quality assurance/quality control and interpretation of the results are under the control of AuRico's geological staff, which includes a number of individuals who are qualified persons as defined under NI 43-101. Christopher Rockingham, P. Geol., V.P. Exploration, is the qualified person responsible for the overall supervision of the program at El Chanate and has reviewed and approved the content of this news release.About AuRico GoldAuRico Gold is a leading Canadian gold producer with a diversified portfolio of high quality mines and projects in North America that have significant production growth and exploration potential. Following the divestiture of Ocampo, the Company will be focused on its core operations including the Young-Davidson gold mine in northern Ontario which declared commercial production on September 1st, 2012 and the El Chanate mine in Sonora State.AuRico's strong project pipeline also includes advanced development opportunities in Mexico and British Columbia. AuRico's head office is located in Toronto, Ontario, Canada.Cautionary StatementCertain information included in this news release constitutes forward-looking statements, including any information as to our projects, plans and future financial and operating performance. All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold and silver; changes in foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; employee relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining inputs and labor; development delays at the Young-Davidson mine; technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson, El Chanate and Ocampo mines and may not perform as planned; the ability to realize the perceived benefits from the acquisition of Capital Gold and Northgate and from the divestiture of the Stawell, Fosterville and El Cubo mines; uncertainty with the Company's ability to secure capital to execute its business plans; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the company does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued by, the company; and the ability of the company to successfully integrate acquisitions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this second quarter report are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. ###Table of Assays Hole IDFrom  (m)To  (m)Length (m)Grade Au g/tCHCI-65592.96105.1612.201.00CHCI-657208.79222.5013.710.39CHCI-65850.2965.5315.240.23 112.78128.0215.240.30CHCI-659105.16111.256.090.45 143.26166.1222.860.42 202.69220.9818.290.62CHCI-660201.17220.9819.810.26CHCI-66176.20106.6830.480.73CHCI-662129.54169.1639.620.60CHCI-66335.0553.3418.290.27 62.4868.586.101.08 106.68121.9215.240.43CHCI-664143.26152.409.140.35CHCI-66577.7285.347.620.43 143.26163.0619.800.76 170.69187.4516.761.57CHCI-66699.06109.7310.670.63 249.94271.2721.330.36CHCI-667103.63124.9721.340.30 161.54187.4525.910.22 208.79237.7428.950.26CHCI-66825.9188.3962.480.63CHCI-66951.8257.916.090.51 65.5389.9224.390.57 128.02143.2615.240.54CHCI-6704.5786.8782.300.82CHCI-671140.21153.9213.710.30 163.07187.4524.380.76 195.07207.2612.191.26CHCI-6720.0016.7616.761.82CHCI-67313.7224.3810.660.42 167.64202.6935.050.22CHCI-67494.49103.639.140.53CHCI-67656.3967.0610.671.06 91.44115.8224.380.73CHCI-67854.86100.5845.720.66CHCI-681152.40170.6918.290.30CHCI-68219.81128.02108.210.39 140.21147.837.620.82 176.78193.5516.770.38CHCI-683143.26173.7430.483.74CHCI-68424.3891.4467.060.58CHCI-6859.1448.7739.630.35CHCI-68673.15105.1632.010.62 179.83210.3130.480.60CHCI-6871.5230.4828.960.72 70.1094.4924.390.49CHCI-6880.0028.9628.960.46CHCI-6893.0513.7210.670.69 28.9636.587.620.30 48.7756.397.621.10 67.0685.3418.280.56 124.97137.1612.190.33CHCI-6904.5764.0159.441.37CHCI-69136.5842.676.090.39 50.29109.7359.440.55CHCI-69279.25120.4041.151.51CHCI-693138.68170.6932.010.37 179.83190.5010.670.33 242.32252.9810.660.31 265.18278.8913.710.32CHCI-694131.06147.8316.770.59CHCI-6950.0016.7616.760.51 21.3496.0174.670.26 134.11173.7439.630.23CHCI-696268.22283.4615.240.69 295.66332.2336.570.27CHCI-6974.5744.2039.630.37 51.8257.916.090.71 64.01100.5836.570.69 161.54179.8318.290.32CHCI-701142.50151.509.000.72CHCI-70239.0043.504.502.36CHCI-70546.5054.007.500.92CHCI-71467.5075.007.500.45CHCI-71652.5064.5012.008.35CHCI-71758.5066.007.503.60 88.5093.004.506.52CHCI-71922.5054.0031.501.69CHCI-7203.007.504.501.89 73.5090.0016.505.96 157.50180.0022.500.83CHCI-72561.5075.0013.501.70CHCI-72748.0054.006.004.52CHCI-73099.00105.006.001.21CHCI-731183.00192.009.000.31 210.00217.507.500.26CHCI-73255.5082.5027.000.45CHCI-73324.0034.5010.500.91CHCI-734133.50141.007.501.51CHCI-73597.50103.506.002.07CHCI-74076.50135.0058.500.27CHCI-741114.00166.5052.500.34CHCI-74475.0079.504.501.06CHCI-74764.5070.506.002.10CHCI-7497.5021.0013.500.19CHCI-750ASSAYS PENDINGCHCI-751CHCI-752CHCI-753CHCI-754CHCI-755CHCI-756CHCI-757CHCI-758Holes not included in this table have no significant assay valuesTable of Drill Collar CoordinatesHIDEASTNORTH  ELEVATION    AZ    DIP    DEPTH    SECTION    CHCI-655    412104.70    3407769.79  419.1133-75249.9430CHCI-657412791.053407379.35504.080-90291.084CHCI-658411965.153407777.26419.3933-65181.3634CHCI-659412592.233407470.43496.580-90300.2311CHCI-660412261.643407562.71479.5233-80281.9422CHCI-661412659.073407561.58473.1633-65160.0211CHCI-662412632.813407471.54497.80433-65323.0910CHCI-663411906.8083407848.32412.040-90288.0437CHCI-664411967.0093407656.52  453.403  0-90367.2832CHCI-665412829.2213407481.45494.36733-65252.985CHCI-666412553.9863407415.59504.4880-90367.2811CHCI-667411900.0863407668.9461.18233-70257.5634CHCI-668412208.1033407768.321420.95833-55129.5427CHCI-669412223.0133407724.076427.77633-70196.6026CHCI-670412029.1063407868.153412.9260-90135.6434CHCI-671412241.5243407657.106468.54433-60243.8424CHCI-672412334.7893407800.782413.0840-90120.4024CHCI-673411914.3113407723.030425.9950-90263.6535CHCI-674412487.6273407632.511467.13833-70199.6417CHCI-675411177.3243407783.901483.15233-60367.2856CHCI-676412398.0103407660.704466.86833-60187.4520CHCI-677412978.0783407711.373511.337213-60129.545CHCI-678412783.4393407554.184479.0490-90176.787CHCI-679411002.0223407887.763495.89933-60330.7163CHCI-680412846.4083407598.037475.6000-90121.926CHCI-681412660.8513407406.366497.05133-70300.238CHCI-682412052.1433407730.595419.3090-90278.8931CHCI-683412848.2053407419.488506.8270-90355.093CHCI-684412181.1313407815.557413.4280-90156.9729CHCI-685412148.5463407833.132413.40333-55120.4030CHCI-686412057.8663407795.597413.7510-90210.3132CHCI-687411972.6453407842.266413.16333-60141.7335CHCI-688412120.5673407890.438413.7760-90120.4032CHCI-689411949.1363407848.818413.22533-65169.1636CHCI-690412922.8623407538.217485.21933-55120.403CHCI-691412262.7613407735.984425.56433-60169.1625CHCI-692412928.6403407489.003491.43233-60120.402CHCI-693411794.5723407720.849471.3460-90352.0438CHCI-694412666.3453407475.055490.6510-90303.289CHCI-695411936.7433407766.147419.6250-90249.9435CHCI-696412465.8503407379.035498.15433-75373.3813CHCI-697411886.5863407762.556419.4190-90263.6536CHCI-698411737.593407690.57483.91533-75324.6129CHCI-699413448.593407363.44505.76720-60120.065CHCI-700413356.403407283.00502.31820-60219.068CHCI-701413424.8233407216.27502.250-90178.564CHCI-702413546.2373407269.76505.95720-60156.060CHCI-703413551.0673407200.16503.990-90237.059CHCI-704413698.0713407176.21502.04120-60175.554CHCI-705413857.4043407082.76497.75520-60222.048CHCI-706413390.4683407523.05507.2420-90291.069CHCI-707413596.1953407951.17526.7550-90189.067CHCI-708413836.9633407731.36539.1760-90288.056CHCI-709413825.5743407351.98503.9610-90300.052CHCI-710414193.7573407399.04519.8730-90228.040CHCI-711413513.5573407276.75504.17120-6081.063CHCI-712413497.8383407226.77504.02720-60150.063CHCI-713413444.2763407247.83503.35220-60150.065CHCI-714413426.8263407372.89505.50620-60102.067CHCI-715413833.6153407092.43497.75220-6060.051CHCI-716413890.4043407071.31497.28620-60102.049CHCI-717413845.7933407045.39496.40720-65102.050CHCI-718413289.9673407449.86503.03720-6070.572CHCI-719413191.4633407504.63486.47520-55120.076CHCI-720413019.4143407469.25479.33620-65180.081CHCI-721411156.1313407043.45479.6420-90159.044CHCI-722411438.1323406889.97466.3820-90183.033CHCI-723410827.7533406784.11497.2730-90177.048CHCI-724411287.4673406536.34466.3240-90172.531CHCI-725413877.3873407042.43496.21120-60120.049CHCI-726413915.9193407061.05497.41520-6090.048CHCI-727413901.3173407100.09498.07820-6066.049CHCI-728414115.3493407074.23510.79720-60162.042CHCI-729413784.5833407104.56496.88420-60102.053CHCI-730413385.1253407346.46503.68420-60141.068CHCI-731411623.9043408056.34488.42833-70222.049CHCI-732411591.6783408190.88489.22633-60132.052CHCI-733411554.2853408293.94490.98733-60102.055CHCI-734411515.2653408109.31485.13433-60213.053CHCI-735411457.5553408244.72491.62333-60159.057CHCI-736411397.3993408267501.34233-60171.059CHCI-737411289.8313408374.21495.58833-60177.064CHCI-738411336.7133408342.97497.37333-60168.062CHCI-739411291.5733408425.58494.80733-50192.065CHCI-740411259.6283408276.45493.26133-60186.063CHCI-741411161.8313408351.31486.69733-60195.067CHCI-742411289.6863408045.05480.21533-90201.058CHCI-743414023.7993407006.4519.23820-60141.044CHCI-744413961.4713407012.55507.52520-60159.046CHCI-745413888.8553406990.81497.73720-60150.048CHCI-746413823.13406983.26493.57720-65201.050CHCI-747413818.1843407051.74496.1120-65120.051CHCI-748413522.3563407204.83503.72620-60126.064CHCI-749411656.0733408174.51492.18333-45120.050CHCI-750411621.743408169.96491.19633-60153.051CHCI-751411636.5583408245.15489.83433-60111.052CHCI-752411565.6833408198.56487.24633-60150.053CHCI-753411576.0023408265.31491.33533-60114.054CHCI-754411515.7533408274.04488.93533-60111.056CHCI-755411519.3013408232.67487.29233-60150.055CHCI-756411493.5543408305.69490.4333-60132.057CHCI-757411201.2643408412.11490.42233-60174.067CHCI-758411185.6423408337.02488.96233-60228.066PDF available at: http://stream1.newswire.ca/media/2012/10/22/20121022_C8833_DOC_EN_19606.pdfPDF available at: http://stream1.newswire.ca/media/2012/10/22/20121022_C8833_DOC_EN_19607.pdfPDF available at: http://stream1.newswire.ca/media/2012/10/22/20121022_C8833_DOC_EN_19608.pdfSOURCE: AuRico Gold Inc.For further information: For further information please visit the AuRico Gold website at http://www.auricogold.com or contact: Chris Rockingham Vice President, Exploration and Business Development AuRico Gold Inc. 1-647-260-8880 Anne Day Vice President, Investor Relations and Communications AuRico Gold Inc. 1-647-260-8880