TORONTO, Canada – Aura Gold Inc. (“Aura Gold”) (TSX:ORA) is pleased to provide an update of exploration activities at its 100% owned Inaja Project, Para State, north-central Brazil. The initial regional program on the Inaja Project has been completed. Results from this early stage program have outlined a significant gold target, as well as iron and nickel targets, which merit more detailed exploration. Detailed follow-up programs are now underway on the gold target of defining drill targets for a program of diamond core and reverse circulation drilling planned to commence early in the second quarter this year.
The Inaja Project covers the 100 km long Inaja Greenstone Belt (“IGB”), a readily accessible but virtually unexplored Archean greenstone belt in the world-class Carajas Metallogenic Province. Aura Gold controls approximately 70% of the IGB and has completed an extensive GIS compilation of historic work (including geological, geochemical, geophysical and imaging data, plus regional geologic reconnaissance mapping and sampling). New work by Aura Gold includes rock sampling from widespread outcrops, soil orientation lines and extensive stream sediment samples collected from numerous watercourses cross-cutting the belt.
The main gold target identified is a district-sized 14 km long northwest-trending structural lineament that is coincident with numerous artisanal workings and other gold occurrences. Follow-up work is being directed towards examining the trend, workings and gold occurrences for the definition of possible bulk mineable gold targets.
This lineament coincides closely with the regional contact between the main greenstone sequence and a large tonalite intrusive body in the east-central part of the belt. Extensive artisanal gold workings, such as the famous large Carrapato garimpo, occur near the contact zone. Significant quantities of gold were extracted by artisanal miners along the trend from workings in the overlying alluvium and to shallow depths from the larger quartz veins in bedrock. Much of the underlying extensive networks of smaller sheeted and stockwork-like gold-bearing veins and the larger vein systems at depth could not be profitably exploited by the artisanal miners and were left behind. Initial fieldwork indicates these gold-bearing sheeted-stockwork vein systems along the 14 km trend are up to 250 m wide and constitute possible bulk mineable gold targets. Together with the large veins at depth, these sheeted/stockwork systems remain intact and constitute bulk mineable targets, which have never before been systematically explored or drilled.
In the core of the Inaja belt, Aura Gold has outlined a significant iron ore target on the property. Siliceous banded iron formations (“BIF”) form a ridge 70 km long and locally 8 km wide. Significantly, the regional program has identified, sub-parallel belts of low relief with potentially economic iron contents of 60% and more. Given the extensive strike length of the observed BIF system, Aura Gold plans further detailed mapping and sampling of these higher-grade occurrences to attempt to outline BIF lenses of possible economic size and grade.
In the western part of the belt, several extensive layered ultramafic complex bodies have been identified and present possible nickel targets. Preliminary sampling has shown anomalous nickel and chromium. Aura Gold plans further detailed sampling of this section of the belt to investigate the possible economic significance of these newly discovered ultramafic bodies.
Aura Gold is in the process of prioritizing targets for further exploration and plans to initiate drilling on key targets early in the second quarter of this year.
The qualified person under National Instrument 43-101 responsible for all technical data reported in this news release is Mel Klohn, L.P. Geo., Vice President, Exploration for Aura Gold Inc. All work in Brazil is managed by Carlos Bertoni, M.Sc., P.Geo., Chief Operation Officer for Aura Gold Inc.
About Aura Gold Inc.
Aura Gold Inc. (TSX:ORA) is a Canadian exploration company focused on the discovery of gold deposits in Brazil. Aura Gold’s projects are the Cumaru, the Inaja Greenstone Belt and the North Carajas Claims, which total approximately 600,000 hectares in the Carajas Metallogenic Province of north-central Brazil. The Carajas region is host to a significant number of world-class deposits of iron ore, gold, copper, nickel, manganese and bauxite. Aura Gold intends to become Brazil’s pre-eminent mineral explorer and the partner of choice for international mining companies seeking opportunities in Brazil.
For further information, please visit the Aura Gold web site at www.auragoldinc.com or contact:
President & CEO
Vice President, Corporate Development
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Aura Gold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Aura Gold’s expectations are the risks detailed herein and from time to time in the filings made by Aura Gold with securities regulators.