April 13, 2022

Post in News by Gabriel Catalani

ROAD TOWN, British Virgin Islands, April 13, 2022 – Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (“Aura” or the “Company”) is pleased to report significant drill intersections at Serrinhas Area, in its Matupa Gold Project, located in Brazil.


  • Aura’s Drill hole Intersections confirmed and delineated the MP2 mineralization zone and may extend the MP1 zone further along the strike.
  • Twin / Infill holes FSR-024T and FSR-006T and intersected 58 metres @ 3.89 g/t Au from 11 to 91.58m and 49.55 metres @ 1.26 g/t Au from 138.15 to 187.70 metres, confirming historical higher-grade intersections of MP2 Target
  • Exploration hole FSED-0015 intersected 59 metres @ 3.14 g/t Au from 46 to 105 metres deep indicating the existence of a higher-grade zone within a new extension of MP2 Target.

Rodrigo Barbosa, CEO of Aura, comments: “We started our drilling in Serrinhas target in August of 2021 and we have already received positive results from one of our first targets with 80 meters @ 3.89g/t Au and 59 meters @ 3.14 g/t Au, which confirms the Matupa’s significant upside to increase Mineral Resources footprints. Serrinhas is a promising deposit, it is a trend of 10km of anomalies with 9 targets already mapped and these results come on our first drilled target. Our objective is to continue the environmental licensing during 2022 to start construction in early 2023. In parallel, we are investing to increase resources and reserves at the Matupa Gold with the exploration program”.


About the Matupa Project

In December 2021, Aura released a Preliminary Economic Assessment for the Matupa Project focusing on the X1 deposit.[1] The Matupa PEA contemplates a seven-year Life of Mine with average annual production of approximately 42,700 ounces of gold. The project is in the prolific Juruena-Teles Pires Gold Province, specifically in the Peixoto de Azevedo District where many gold deposits and occurrences exist.

Aura conceptually believes the exploration upside in the project area is significant and that further exploration work may expand the mineral resources base at the Matupa Project, and consequently. The company has increased its mineral rights position in 2020 and 2021 from 28,674 hectares to 62,505 hectares (118% increase) and is planning to continue its exploration plan started in early 2021 through 2022 and beyond.


Serrinhas Area

Several 100% owned satellite targets within a 30-kilometre radius of the X1 deposit have been identified so far, the most advanced of which is found in the Serrinhas Area, which is located 27 kilometers from X1 by paved highway (Figure 1). The area consists of ten-kilometer northwestern trending hills with a series of former artisanal small pits, and large gold anomalies in the soil.

A total of 62 historical diamond drill holes from the 1990s and 2000s totaling 9,020 meters were drilled in Serrinhas area with important positive gold intersections indicating the possible existence of mineralization zones that may be amenable to open-pit mining in the future. Aura is currently testing those zones with new drilling. In parallel, the Company is conducting a QA/QC validation program of historical holes, consisting of resampling of existing core and a twin-hole program, which will also provide samples for a metallurgical characterization. The Company’s exploration activities in the Serrinhas area started in August 2021 and a total of 6.878,54 meters of drilling have been performed in the Serrinhas area to date. The table below shows collar information for 2021-2022 Aura drill holes.

Hole Easting Northing Azimuth (*) Plunge (*) Final depth
FPZD-0001 736221.26 8864511.84 030 -55 203.49
FPZD-0002 736219.85 8864512.75 005 -55 220.30
FS1D-0001 732047.47 8867158.13 340 -55 199.96
FS1D-0002 732086.99 8867169.71 340 -55 276.89
FSED-0001 733353.24 8865644.02 215 -75 325.30
FSED-0002 733803.90 8865597.26 160 -60 293.65
FSED-0003 733773.43 8865564.73 160 -70 265.65
FSED-0004 733792.98 8865509.39 340 -60 269.18
FSED-0005 733862.83 8865599.82 160 -60 173.87
FSED-0006 733850.19 8865477.48 340 -60 285.67
FSED-0007 733869.03 8865584.86 340 -60 244.48
FSED-0008 733823.55 8865687.77 160 -85 229.60
FSED-0009 733155.35 8865425.14 160 -55 270.74
FSED-0010 733143.84 8865442.71 160 -55 279.14
FSED-0011 733195.03 8865535.78 160 -60 232.32
FSED-0012 733242.06 8865517.97 160 -60 170.17
FSED-0013 733851.33 8865632.09 340 -60 268.13
FSED-0014 733720.08 8865483.64 300 -55 218.99
FSED-0015 733773.00 8865564.00 340 -60 225.58
FSR-006T 733722.10 8865486.62 340 -60 213.84
FSR-024T 733182.50 8865436.73 160 -45 258.72
MAT-001T 733155.00 8865479.00 160 -60 246.52
MAT-012T 733085.47 8865457.83 160 -45 80.59

Most drilled to date is the MP2 mineralization zone, which consists of granite-hosted disseminated pyrite rich gold mineralization, encompassed by a potassic and/or chloritic alteration halo. Positive historical drilling delineated two mineralization zones, Central and East Zones, and significant new drilling assays results may confirm previous results and extend the East Zone a further 230m along strike. Additionally, step-out drilling on MP1 Target, which is located approximately 2.4 kilometres northwest of MP2, may extend the existing mineralization zone 60 meters along strike and approximately 35 meters downdip. Exploration drilling has also confirmed a downdip extension of Parazinho Target. Parazinho is a former 250 x 65m artisanal open pit, located approximately 2.7 kilometers southeast of MP2.

The mineralized intersections from Aura’s 2021-2022 drilling are summarized in the table below*. Figure 2 shows the location of Serrinhas Area targets

Hole From To Length (m) True width (m) Au (g/t) Type Target
FPZD-0001 180.74 182.82 2.08 1.22 1.70 Exploration MP1
FS1D-0001 112.18 130.00 17.82 12.51 0.57 Exploration MP1
FS1D-0001 157.07 194.40 37.33 26.20 0.65 Exploration MP1
Including 184.00 185.11 1.11 0.78 6.26
FS1D-0002 246 264.71 18.71 13.13 0.48 Exploration MP1
FSED-0003 56 74.23 18.23 2.94 0.45 Exploration MP2 – East Zone
Including 62 63 1.00 0.16 4.38
FSED-0004 91.91 97 5.09 4.33 0.40 Exploration MP2 – East Zone
FSED-0004 112 135 23.00 19.57 0.58 Exploration MP2 – East Zone
FSED-0006 207 215 8.00 6.81 0.47 Exploration MP2 – East Zone
FSED-0006 220 221.8 1.80 1.53 0.73 Exploration MP2 – East Zone
FSED-0007 69 72.8 3.80 3.23 0.96 Exploration MP2 – East Zone
FSED-0007 187 211.9 24.90 21.19 0.38 Exploration MP2 – East Zone
FSED-0008 173 191 18.00 7.66 0.53 Exploration MP2 – East Zone
FSED-0009 35 61 26.00 11.56 0.88 Twin / Infill MP2 – Central Zone
Including 44 49 5.00 2.22 2.56
Including 57 59 2.00 0.89 3.23
FSED-0009 144 150 6.00 2.67 0.65 Twin / Infill MP2 – Central Zone
FSED-0010 75 112 37.00 16.44 0.56 Twin / Infill MP2 – Central Zone
FSED-0011 170 176.9 6.90 2.51 1.14 Twin / Infill MP2 – Central Zone
FSED-0012 47 59.8 12.80 4.65 0.44 Twin / Infill MP2 – Central Zone
FSED-0013 162 169 7.00 5.96 1.22 Exploration MP2 – East Zone
FSED-0015 46 105 59.00 50.21 3.14 Exploration MP2 – East Zone
Including 78.8 82.7 3.90 3.32 27.2
FSR-006T 138.15 187.7 49.55 42.17 1.26 Twin / Infill MP2 – East Zone
Including 145.22 150.51 5.29 4.50 8.48
FSR-024T 11 91.58 80.58 47.40 3.89 Twin / Infill MP2 – Central Zone
Including 55.1 62.69 7.59 4.46 23.42
Including 70.6 76.99 6.39 3.76 2.97
MAT-001T 119 140 21.00 7.64 0.52 Twin / Infill MP2 – Central Zone

* Note: Following holes did not intercept any mineralization FPZD-0002; FSED-0001; FSED-0002; FSED-0005; FSED-0014; MAT-012T.

Most of mineralization targets in the Serrinhas area drilled to date, despite occurring aligned along with a northwestern regional structure, appear to be locally controlled northeastern structures. The Company believes that the existing high-grade zone within MP2 Central Zone and the newly discovered high-grade zone within MP2 East Zone are significant (figure 3 and 4), but the amount of drilling conducted to date is insufficient to speculate about its continuity and impact on overall Serrinhas average gold grade.

Throughout the current year Aura plans to keep delineating and detailing the MP1 and MP2 Targets and conduct exploration drilling in many other targets in the Serrinhas area such as Parazinho, MP4, MP7, MP9 among others (figure 2).

Figure 1: Location Map of Matupa Project Showing X1 and Serrinhas Area

Figure 2: Map of Serrinhas Area showing mineral rights, all the targets, historical drill holes, and Aura’s drill holes

Figure 3: Detail Map of MP2 showing historical drill holes and Aura’s drill holes

Figure 4: Geological Cross-section of MP2 Target showing trace of Aura ‘s drill holes

Quality Assurance and Quality Control

Analytical work was carried out by SGS Lab, Geosol Laboratory in Vespasiano, Minas Gerais, Brazil. Drill core samples were crushed, pulverized and homogenized at SGS Geosol laboratory in Goiânia, Goias, Brazil, then pulp samples were shipped to SGS Lab in Vespasiano. All samples were analyzed for gold values determined by fire assay method (code FAA505) with atomic absorption spectrometry finish on 50g aliquots. SGS has routine quality control procedures which ensure that every batch of 20 prepared samples includes one sample repeat, three commercial standards, and blanks. SGS QA/QC measures are independent of Aura. Aura established a standard QA/QC procedure for the drilling programs at Serrinhas by inserting one blank, one standard, and one duplicate for every 40 samples.

Qualifier Person

Farshid Ghazanfari, P.Geo., Geology and Mineral Resources Director for Aura Minerals Inc. has reviewed and confirmed the scientific and technical information contained within this news release and serves as the Qualified Person as defined in National Instrument 43-101.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the production across its operations, anticipated average annual production at the Matupa project and the interpretation of exploration and drilling results. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict, or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

About Aura 360° Mining

Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.

Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, one gold project in Colombia, Tolda Fria and the Gold Road mine in Arizona, United States, currently in care & maintenance.

For further information, please visit Aura’s website at www.auraminerals.com or contact:

Rodrigo Barbosa
President & CEO

[1] See the technical report titled “Matupá Project, Mato Grosso State, Brazil – Independent Technical Report – Preliminary Economic Assessment” and dated December 20, 2021 (the “Matupa PEA”), which is available under the Company’s profile on SEDAR at www.sedar.com.