Aurvista Gold Provides Corporate Update
2013年11月26日 - 6:30AM
Access Wire
Montreal,
Quebec - November 25, 2013: Aurvista Gold Corporation
("Aurvista" or the "Company") (TSX-V: AVA) is pleased to provide a corporate update for the
recent developments on the Company's Douay Gold Project located in
northern Quebec along the Abitibi Greenstone Belt.
The Company would like to
report a renewed primary focus on the production potential of the
Douay West Zone located in the north western portion of the Douay
Project. "The Douay West Zone has some of the highest gold grades
at the Douay Project as indicated by numerous historical drill
campaigns. The Douay West Zone has always been viewed as an
excellent target on the project, and the Company is looking forward
to the Douay West Zone's further development." states Rick Adam,
President and CEO of Aurvista Gold Corp.
The company has engaged a reputable engineering firm to complete an
economic study to conceptualize both the open pit and underground
mining scenarios at the Douay West Zone. The
initial report has now been received, as contracted, and the report
is for the sole and internal use of the Company. The engineering
study will be used as a focal point in the internal evaluation of
the Douay West Zone and the report will be used as an integral
piece of the ongoing planning and development of the Douay West
Zone. "We had always known the
potential of the Douay West Zone and we felt with the turn in the
markets it was an opportune time to re-examine a production
scenario." said Mr. Adams.
Aurvista currently has approximately $1.2 million cash on hand and
is anticipating an additional $0.8 million by year end from a
Quebec exploration tax credit."It is very important for the Company
to continue to maintain a strong cash position in these uncertain
markets to enable the company to have the flexibility to explore
opportunities as they arise." states Bryan Keeler, CFO of
Aurvista.
The Company is currently taking the necessary steps towards
solidifying a toll milling agreement with local mills in the area.
Aurvista will also be considering a Preliminary Economic Assessment
("PEA") on the Douay West Zone. Pending the initiation of
the PEA, Aurvista expects to have the assessment completed by the
second quarter of 2014.
About
Aurvista Gold
Aurvista
Gold Corporation is a junior gold exploration and development
company. Aurvista's principal asset is the Douay Gold Project,
consisting of 221 wholly owned claims totaling approximately 11,430
hectares. The Douay Project's North West Zone has 32 designated
claims for a total of 1,193 hectares and is in a Joint Venture
agreement with SOQUEM. The Douay Project is located on the Casa
Berardi Fault in northern Quebec. The Douay Project contains a NI
43-101 compliant Mineral Resource of 114,652,000 million tonnes at
0.75 g/t gold (2.8 million ounces of gold) in the Inferred category
and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in
the Measured and Indicated category, at a cut-off of 0.3 g/t gold.
Details of the Douay Gold Project can be viewed on the Company's
website at www.aurvistagold.com
THIS PRESS RELEASE,
REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO
U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES.
For further information please contact
Richard Adams, President and CEO
Telephone: (416) 682-2674
Facsimile: (416) 504-4129
NEITHER THE TSX VENTURE EXCHANGE
NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN
THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
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