November 03, 2008

Post in News by Admin

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 3, 2008) – Aura Minerals Inc. (TSX:ORA) (the “Company” or “Aura Minerals”) is very pleased to report results of the most recent batch of diamond drill holes from the ongoing infill and step-out program on its 100%-owned Arapiraca development project (“Arapiraca Project”) in Alagoas State, Brazil.

The results are from step-out and infill holes in the north, central and south zones of the Serrote da Laje deposit (the “Deposit”). This recent drilling has intercepted a new high-grade zone in the center of the Deposit which lies just outside of the current pit limits. To date, only 6 holes have been drilled in this zone but it is open in all directions. Should this zone extend further to the north, there would be potential to add significant tonnage of higher-grade material to the current resource base.

Highlights from this zone are (see table and maps attached):

– Hole AR-SLJE-252 which returned 16.00 metres of 1.27% Cu, 0.21 g/t Au, 18.50% Fe and 0.12% Ni;

– Hole AR-SLJE-259 which returned 17.33 metres of 0.75% Cu, 0.14 g/t Au, 20.94% Fe and 0.09% Ni;

– Hole AR-SLJE-280 which returned 22.60 metres of 1.02% Cu, 0.08 g/t Au, 10.11% Fe and 0.05% Ni;

– Hole AR-SLJE-284 which returned 26.52 metres of 1.02% Cu, 0.19 g/t Au, 20.69% Fe and 0.09% Ni;

– Hole AR-SLJE-293 which returned 51.00 metres of 0.70% Cu, 0.16 g/t Au, 18.74% Fe and 0.08% Ni;

– Hole AR-SLJE-297 which returned 12.61 metres of 0.86% Cu, 0.21 g/t Au, 11.73% Fe and 0.04% Ni;

Highlights from the remaining infill and step-out drilling include the following (see table and maps attached):

– Hole AR-SLJE-255 which returned 48.19 metres of 0.54% Cu, 0.07 g/t Au, 17.59% Fe and 0.06% Ni and a further 19.17 metres of 0.67% Cu, 0.10 g/t Au, 16.60% Fe and 0.08% Ni;

– Hole AR-SLJE-264 which returned 58.54 metres of 0.68% Cu, 0.12 g/t Au, 19.96% Fe and 0.09% Ni;

– Hole AR-SLJE-268 which returned 39.90 metres of 0.64% Cu, 0.11 g/t Au, 23.90% Fe and 0.10% Ni and further 32.00 metres of 0.98% Cu, 0.07 g/t Au, 8.86% Fe and 0.03% Ni;

– Hole AR-SLJE-269 which returned 11.20 metres of 5.52% Cu, 0.35 g/t Au, 10.70% Fe and 0.10% Ni;

– Hole AR-SLJE-270 which returned 25.83 metres of 0.97% Cu, 0.16 g/t Au; 28.11% Fe and 0.11% Ni;

– Hole AR-SLJE-272 which returned 77.77 metres of 0.84% Cu, 0.13 g/t Au, 23.82% Fe and 0.09% Ni;

– Hole AR-SLJE-276 which returned 25.95 metres of 0.91% Cu, 0.04 g/t Au, 5.35% Fe and 0.02% Ni;

– Hole AR-SLJE-286 which returned 28.77 metres of 0.98% Cu, 0.17 g/t Au, 13.64% Fe and 0.06% Ni;

– Hole AR-SLJE-296 which returned 82.80 metres of 0.70% Cu, 0.12 g/t Au, 22.90% Fe and 0.08% Ni;

– Hole AR-SLJE-300 which returned 82.95 metres of 0.95% Cu, 0.14 g/t Au, 21.94% Fe and 0.10% Ni; and

– Hole AR-SLJE-307 which returned 85.80 metres of 0.87% Cu, 0.15 g/t Au, 22.86% Fe and 0.09% Ni;

Commenting on these results, Mr. Patrick Downey, President and CEO of Aura Minerals, stated, “These results from the central zone of the Deposit could be very significant in that this new high-grade zone is open in all directions. The new zone appears to be below a marker horizon of gneiss which is also evident just below the majority of the currently defined resources in the northern portion of the Deposit. However, to date drilling in the north has not extended below this horizon. Our geological team is evaluating these recent drill results in order to determine the next phase of our drill program.”

Table – Assays Results

————————————————————————–
Azi- Inter-
muth val Cu
(de- Dip From To (1) (2) Au Fe Ni
gr- (deg- (met- (met- (met- (4) (3) (5) (5)
Hole # North East ees) rees) res) res) res) (%) (g/t) (%) (%)
————————————————————————–
AR-SLJE
-0198 8929899 748808 0 -90 252.00 261.00 9.00 0.50 0.01 4.89 0.02
————————————————————————–
AR-SLJE
-0207 8929696 749011 0 -90 199.00 210.00 11.00 0.47 0.07 8.08 0.03
————————————————————————–
AR-SLJE
-0210 8929447 749074 270 -60 70.25 75.25 5.00 0.40 0.26 26.32 0.14
————————————————————————–
and 8929447 749074 270 -60 80.68 132.00 51.32 0.39 0.18 26.23 0.12
————————————————————————–
AR-SLJE
-0211 8929497 749074 270 -60 71.00 95.38 24.38 0.37 0.21 28.71 0.12
————————————————————————–
and 8929497 749074 270 -60 105.28 120.47 15.19 0.28 0.18 28.31 0.13
————————————————————————–
AR-SLJE
-0252 8929547 748812 0 -90 350.00 366.00 16.00 1.27 0.21 18.50 0.12
————————————————————————–
AR-SLJE
-0255 8930547 748759 0 -90 39.00 87.19 48.19 0.54 0.07 17.59 0.06
————————————————————————–
and 8930547 748759 0 -90 93.18 112.35 19.17 0.67 0.10 16.60 0.08
————————————————————————–
AR-SLJE
-0256 8929297 749163 270 -60 164.00 170.00 6.00 0.37 0.18 25.04 0.10
————————————————————————–
and 8929297 749163 270 -60 174.58 190.00 15.42 0.36 0.17 24.67 0.11
————————————————————————–
AR-SLJE
-0257 8930547 748809 0 -90 57.13 70.00 12.87 0.57 0.07 18.46 0.06
————————————————————————–
and 8930547 748809 0 -90 88.00 119.07 31.07 0.48 0.07 16.67 0.06
————————————————————————–
AR-SLJE
-0258 8929999 749761 0 -90 166.02 171.00 4.98 0.29 0.10 18.60 0.06
————————————————————————–
AR-SLJE
-0259 8929597 749012 0 -90 75.00 85.00 10.00 0.85 0.22 11.88 0.06
————————————————————————–
and 8929597 749012 0 -90 382.00 399.33 17.33 0.75 0.14 20.94 0.09
————————————————————————–
AR-SLJE
-0260 8930447 748610 0 -90 1.00 52.74 51.74 0.55 0.09 21.55 0.08
————————————————————————–
AR-SLJE
-0262 8929999 749913 0 -90 225.00 231.00 6.00 0.25 0.09 9.58 0.04
————————————————————————–
AR-SLJE
-0264 8930447 748810 0 -90 79.57 138.11 58.54 0.68 0.12 19.96 0.09
————————————————————————–
AR-SLJE
-0265 8929497 749162 270 -60 146.00 152.00 6.00 0.70 0.23 25.16 0.11
————————————————————————–
AR-SLJE
-0266 8929247 749075 270 -60 85.20 104.62 19.42 0.46 0.21 31.43 0.15
————————————————————————–
AR-SLJE
-0267 8929248 749162 270 -60 167.23 196.00 28.77 0.42 0.20 29.17 0.14
————————————————————————–
AR-SLJE
-0268 8930346 748610 270 -70 37.58 77.48 39.90 0.64 0.11 23.90 0.10
————————————————————————–
and 8930346 748610 270 -70 114.00 146.00 32.00 0.98 0.07 8.86 0.03
————————————————————————–
and 8930346 748610 270 -70 214.00 227.00 13.00 0.36 0.06 15.56 0.05
————————————————————————–
AR-SLJE
-0269 8930348 749210 270 -70 27.00 38.20 11.20 5.52 0.35 10.70 0.10
————————————————————————–
and 8930348 749210 270 -70 75.00 91.00 16.00 0.64 0.09 18.34 0.07
————————————————————————–
AR-SLJE
-0270 8930197 748765 270 -70 77.00 102.83 25.83 0.97 0.16 28.11 0.11
————————————————————————–
and 8930197 748765 270 -70 154.00 161.00 7.00 0.42 0.05 8.13 0.03
————————————————————————–
AR-SLJE
-0271 8929197 749163 270 -60 175.37 185.00 9.63 0.33 0.20 33.27 0.14
————————————————————————–
AR-SLJE
-0272 8930247 748910 270 -65 5.00 79.00 74.00 0.44 0.09 19.42 0.07
————————————————————————–
and 8930247 748910 270 -65 123.23 201.00 77.77 0.84 0.13 23.82 0.09
————————————————————————–
and 8930247 748910 270 -65 223.00 240.00 17.00 0.42 0.04 8.42 0.03
————————————————————————–
AR-SLJE
-0273 8929197 749063 270 -60 92.93 111.92 18.99 0.34 0.15 22.99 0.10
————————————————————————–
AR-SLJE
-0274 8930247 749111 270 -70 95.59 106.00 10.41 1.07 0.07 10.85 0.04
————————————————————————–
and 8930247 749111 270 -70 175.00 192.00 17.00 0.78 0.11 12.92 0.04
————————————————————————–
and 8930247 749111 270 -70 209.00 216.00 7.00 0.88 0.08 15.84 0.08
————————————————————————–
AR-SLJE
-0276 8930048 749411 270 -70 200.05 226.00 25.95 0.91 0.04 5.35 0.02
————————————————————————–
AR-SLJE
-0277 8929148 749263 270 -60 248.06 262.20 14.14 0.49 0.15 25.67 0.10
————————————————————————–
AR-SLJE
-0280 8929997 748861 90 -60 143.72 62.23 18.51 0.39 0.05 16.09 0.08
————————————————————————–
and 8929997 748861 90 -60 165.00 177.00 12.00 0.31 0.03 14.44 0.04
————————————————————————–
and 8929997 748861 90 -60 250.00 265.13 15.13 0.34 0.02 12.60 0.04
————————————————————————–
and 8929997 748861 90 -60 419.00 441.60 22.60 1.02 0.08 10.11 0.05
————————————————————————–
AR-SLJE
-0281 8929447 749112 270 -75 109.13 118.92 9.79 0.49 0.17 22.18 0.09
————————————————————————–
and 8929447 749112 270 -75 131.07 141.43 10.36 0.57 0.16 25.77 0.11
————————————————————————–
AR-SLJE
-0282 8929448 749262 270 -60 78.00 113.00 35.00 0.79 0.19 15.78 0.07
————————————————————————–
AR-SLJE
-0283 8929098 749263 270 -60 263.78 284.00 20.22 0.36 0.18 29.30 0.14
————————————————————————–
AR-SLJE
-0284 8929847 749011 0 -90 210.00 238.00 28.00 0.60 0.09 17.86 0.08
————————————————————————–
and 8929847 749011 0 -90 244.00 254.00 10.00 0.43 0.06 16.05 0.06
————————————————————————–
and 8929847 749011 0 -90 340.00 354.34 14.34 0.62 0.06 9.06 0.05
————————————————————————–
and 8929847 749011 0 -90 368.48 395.00 26.52 1.02 0.19 20.69 0.09
————————————————————————–
AR-SLJE
-0285 8930447 749159 0 -90 19.44 27.85 8.41 0.52 0.11 20.03 0.06
————————————————————————–
and 8930447 749159 0 -90 34.00 40.00 6.00 0.39 0.09 12.20 0.04
————————————————————————–
————————————————————————–
and 8930447 749159 0 -90 85.10 92.00 6.90 0.94 0.10 17.29 0.08
————————————————————————–
AR-SLJE
-0286 8929398 749262 0 -90 91.23 120.00 28.77 0.98 0.17 13.64 0.06
————————————————————————–
AR-SLJE
-0287 8929047 749063 270 -60 125.00 135.02 10.02 0.57 0.17 20.04 0.09
————————————————————————–
and 8929047 749063 270 -60 150.00 155.83 5.83 0.81 0.14 14.31 0.08
————————————————————————–
AR-SLJE
-0289 8929498 749262 270 -60 82.87 97.29 14.42 0.97 0.09 14.43 0.04
————————————————————————–
AR-SLJE
-0290 8929348 749213 270 -60 170.99 208.45 37.46 0.30 0.19 30.79 0.13
————————————————————————–
AR-SLJE
-0291 8929047 749163 270 -60 152.69 227.56 74.87 0.43 0.25 31.69 0.14
————————————————————————–
AR-SLJE
-0292 8930347 749110 0 -90 27.15 40.00 12.85 0.70 0.11 13.55 0.05
————————————————————————–
AR-SLJE
-0293 8929796 748912 90 -70 225.64 237.10 11.46 0.84 0.16 25.94 0.11
————————————————————————–
and 8929796 748912 90 -70 248.30 262.00 13.70 0.52 0.08 15.81 0.06
————————————————————————–
and 8929796 748912 90 -70 276.00 284.00 8.00 0.60 0.04 16.30 0.08
————————————————————————–
and 8929796 748912 90 -70 356.00 368.00 12.00 0.67 0.31 15.90 0.06
————————————————————————–
and 8929796 748912 90 -70 375.00 426.00 51.00 0.70 0.16 18.74 0.08
————————————————————————–
AR-SLJE
-0294 8929347 749113 270 -60 53.29 58.14 4.85 0.42 0.23 25.45 0.09
————————————————————————–
and 8929347 749113 270 -60 61.20 66.15 4.95 0.41 0.33 24.26 0.10
————————————————————————–
and 8929347 749113 270 -60 115.12 152.00 36.88 0.30 0.12 20.07 0.08
————————————————————————–
AR-SLJE
-0295 8929298 749262 270 -60 210.66 229.70 19.04 0.30 0.22 32.55 0.13
————————————————————————–
AR-SLJE
-0296 8930346 748810 270 -65 53.08 135.88 82.80 0.70 0.12 22.90 0.08
————————————————————————–
and 8930346 748810 270 -65 162.00 174.00 12.00 0.38 0.03 7.98 0.04
————————————————————————–
AR-SLJE
-0297 8929947 749011 0 -90 151.31 170.00 18.69 0.53 0.09 20.07 0.08
————————————————————————–
and 8929947 749011 0 -90 175.00 198.00 23.00 0.61 0.11 20.90 0.10
————————————————————————–
and 8929947 749011 0 -90 225.00 231.00 6.00 0.31 0.03 14.95 0.03
————————————————————————–
and 8929947 749011 0 -90 305.00 346.00 41.00 0.39 0.04 10.31 0.05
————————————————————————–
and 8929947 749011 0 -90 351.39 364.00 12.61 0.86 0.21 11.73 0.04
————————————————————————–
and 8929947 749011 0 -90 368.00 383.00 15.00 0.50 0.09 15.40 0.05
————————————————————————–
AR-SLJE
-0298 8929348 749312 270 -60 67.90 73.28 5.38 0.27 0.11 18.95 0.05
————————————————————————–
and 8929348 749312 270 -60 84.24 91.03 6.79 0.55 0.11 29.32 0.13
————————————————————————–
and 8929348 749312 270 -60 139.00 156.00 17.00 0.69 0.11 14.82 0.07
————————————————————————–
AR-SLJE
-0299 8929398 749212 270 -65 163.31 172.00 8.69 0.40 0.16 27.49 0.15
————————————————————————–
AR-SLJE
-0300 8930396 748710 0 -90 18.25 101.20 82.95 0.95 0.14 21.94 0.10
————————————————————————–
AR-SLJE
-0301 8928997 749163 270 -60 218.17 231.80 13.63 0.42 0.16 30.80 0.14
————————————————————————–
AR-SLJE
-0302 8928997 749063 270 -60 138.54 157.09 18.55 0.61 0.19 22.17 0.11
————————————————————————–
and 8928997 749063 270 -60 182.00 194.11 12.11 0.85 0.19 1.50 0.09
————————————————————————–
AR-SLJE
-0303 8930447 748860 0 -90 122.90 128.00 5.10 0.47 0.07 18.02 0.07
————————————————————————–
AR-SLJE
-0304 8929298 749357 270 -60 166.86 179.00 12.14 0.44 0.15 23.96 0.11
————————————————————————–
AR-SLJE
-0305 8928998 749263 270 -60 270.60 277.00 6.40 0.44 0.20 29.98 0.12
————————————————————————–
and 8928998 749263 270 -60 282.00 319.00 37.00 0.37 0.20 34.80 0.16
————————————————————————–
AR-SLJE
-0306 8929048 749313 270 -60 318.62 337.64 19.02 0.49 0.17 27.70 0.11
————————————————————————–
AR-SLJE
-0307 8930247 748810 0 -90 10.00 36.98 26.98 0.52 0.13 3.18 0.08
————————————————————————–
and 8930247 748810 0 -90 80.32 166.12 85.80 0.87 0.15 22.86 0.09
————————————————————————–
AR-SLJE
-0308 8929448 749362 0 -90 333.00 339.26 6.26 1.04 0.33 10.84 0.04
————————————————————————–
and 8929448 749362 0 -90 344.93 351.73 6.80 0.78 0.12 6.68 0.02
————————————————————————–
AR-SLJE
-0310 8929497 748961 270 -60 25.45 34.00 8.55 0.77 0.15 7.00 0.03
————————————————————————–
and 8929497 748961 270 -60 40.00 48.33 8.33 0.52 0.29 42.39 0.16
————————————————————————–
AR-SLJE
-0312 8929248 749363 270 -60 178.24 200.05 21.81 0.29 0.26 33.70 0.15
————————————————————————–
AR-SLJE
-0313 8929047 748963 270 -60 105.00 121.00 16.00 0.51 0.19 23.80 0.11
————————————————————————–
AR-SLJE
-0314 8929297 749013 270 -60 4.60 32.50 27.90 0.39 0.23 27.80 0.15
————————————————————————–
and 8929297 749013 270 -60 37.45 56.33 18.88 0.40 0.23 35.10 0.15
————————————————————————–
AR-SLJE
-0315 8928898 749264 270 -60 284.98 301.00 16.02 0.38 0.21 29.60 0.14
————————————————————————–
and 8928898 749264 270 -60 310.00 343.00 33.00 0.38 0.12 21.30 0.09
————————————————————————–
AR-SLJE
-0326 8929148 749313 270 -60 281.95 289.17 7.22 0.38 0.26 38.30 0.20
————————————————————————–

(1) true width has yet to be determined
(2) using a copper cutoff grade 0.2%
(3) fire assay
(4) atomic absorption
(5) inductively coupled plasma (“ICP”)

 

Quality Assurance and Quality Control (“QA/QC”) Procedures

The Company’s diamond drilling program is being conducted by Geosol Geologia e Sondagens Ltda. The core is measured, logged, photographed and then split in half using a core saw. Half the core is retained on-site in a secure storage facility and the other half is processed through the on-site sample preparation facility under the supervision of SGS Geosol Laboratorios Ltda. (“SGS Geosol”). The entire half-core is crushed and pulverized and 150 gram splits of this pulp are sent directly by SGS Geosol to their main ISO-accredited assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. At this laboratory, samples are analyzed by ICP multi-element analysis (35 elements are reported); Cu is additionally analysed by acid digestion and Atomic Absorption (“AA”) finish; Fe over 40% is assayed by X-Ray Refraction; and the gold, palladium and platinum content is determined by fire assay with an AA finish. Aura Minerals sends check samples to ALS Chemex and systematically puts certified standard samples and blank samples in all batches of samples sent to SGS Geosol as a means of quality control. Additionally, SGS Geosol has its own stringent internal QA/QC protocols.

Mr. Carlos H. Bertoni, M.Sc. & P.Geo., who is the Company’s Qualified Person as defined by National Instrument 43-101, has reviewed and approved the contents of this news release as applicable.

About Aura Minerals Inc.

Aura Minerals is a Canadian resource company focused on the acquisition, exploration, development and operation of mining properties in the Americas. In addition to the Company’s recently acquired Aranzazu Property, the Company owns the advanced stage Arapiraca Property in north-eastern Brazil, which was originally explored in the 1980’s and 1990’s for copper and gold. The property also contains magnetite (up to 50%) and nickel and the Company is conducting a feasibility study of the Serrote da Laje deposit. The nearby infrastructure is excellent with ready access to roads, rail and shipping ports.

Cautionary Statement:

This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in Aura Minerals’ public documents filed on SEDAR at www.sedar.com. Although Aura Minerals believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aura Minerals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

To view maps accompanying this release please click on the following link: http://media3.marketwire.com/docs/ora1103.pdf

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For more information, please contact

Aura Minerals Inc.
Patrick Downey
President & Chief Executive Officer
(604) 669-4777
(604) 696-0212 (FAX)
Email: info@auraminerals.com
Website: www.auraminerals.com