Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

February 15, 2010 16:48 ET

Aura Minerals Releases Drill Results for the Aranzazu Copper-Gold-Silver Project in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2010) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is pleased to release sixteen (16) further drill hole results from its wholly-owned Aranzazu Project in Zacatecas State, Mexico.

The most recent drilling was designed to target zones along strike from the Arroyos Azules Zone which is the first area scheduled for mining as part of the planned re-start of operations later this year. The drilling continues to show the high-grade potential of the Aranzazu Project ore body.

Highlights are as follows (see Table 1 and Maps 1 below):

  • Hole AZC-069 which returned 15.0 metres of 2.97% Cu, 0.81 g/t Au and 40.2 g/t Ag;
  • Hole AZC-070 which returned 16.5 metres of 2.36% Cu, 2.36 g/t Au and 21.5 g/t Ag;
  • Hole AZC-071 which returned 22.5 metres of 1.79% Cu, 1.95 g/t Au and 18.0 g/t Ag;
  • Hole AZC-075 which returned 16.5 metres of 1.25% Cu, 1.57 g/t Au and 14.8 g/t Ag;
  • Hole AZC-076 which returned 27.0 metres of 1.70% Cu, 1.90 g/t Au and 17.3 g/t Ag;
  • Hole AZC-078 which returned 6.00 metres of 1.91% Cu, 0.76 g/t Au and 20.1 g/t Ag;
  • Hole AZR-041 which returned 24.4 metres of 2.10% Cu, 1.50 g/t Au and 23.6 g/t Ag;
  • Hole AZR-042 which returned 29.0 metres of 0.95% Cu, 1.46 g/t Au and 11.6 g/t Ag;
  • Hole AZR-045 which returned 4.60 metres of 5.88% Cu, 3.03 g/t Au and 66.8 g/t Ag;
  • Hole AZR-046 which returned 21.3 metres of 1.38% Cu, 1.12 g/t Au and 24.0 g/t Ag; and
  • Hole AZR-051 which returned 22.9 metres of 2.01% Cu, 2.71 g/t Au and 25.1 g/t Ag.

It is of interest to note the continued intercepts of higher than average grade gold in drilling progressively along strike to the east of the Arroyos Azules Zone. These better than average values for gold will add to overall project economics as only 51% of the drill holes as part of the recent National Instrument 43-101 report were assayed for gold. The weighted average for gold of all of these recent results is 1.16 g/t Au versus the Measured and Indicated resource average of 0.40 g/t Au at the same 0.5% Cu cut-off (see News Release #2009-15, dated November 2, 2009). Also of importance is the continuity of the overall mineralized system being confirmed along strike and extended down-dip. In that regard, the Company has now mobilized a rig capable of drilling the planned deep drill holes and drilling will commence later this month. This drilling will test the down-dip potential of the ore body and the strike extent beyond the current resource boundaries as part of an overall plan to investigate the potential to develop a much larger operation at the Aranzazu Project.

Commenting on the above, Mr. Patrick Downey, President and CEO of Aura Minerals, stated, "The Aranzazu Project continues to return excellent drill results. The grade and widths continue to meet our expectations and we are very encouraged by the significantly higher gold grades. We now look forward to the deeper drilling which will help determine the potential of the Aranzazu Project ore body which is open in all directions."

Table 1 – Aranzazu Assays (see Map 1 below)

Hole # East North Azimuth(degrees) Dip (degrees) From (metres) To (metres) Interval(1) (metres) Cu (2)(4) (%) Au (3) (g/t) Ag (3) (g/t)
AZC-065 254104 2724034 209 -50 69.0 77.3 8.3 0.86 1.50 11.7
AZC-066 254192 2724079 218 -69 128.0 137.0 9.0 0.91 1.02 25.5
AZC-069 253832 2724335 221 -53 301.5 307.5 6.0 0.53 0.06 2.6
AZC-069 253832 2724335 221 -53 315.0 322.5 7.5 0.77 0.17 9.3
AZC-069 253832 2724335 221 -53 379.5 394.5 15.0 2.97 0.81 40.2
AZC-070 253985 2724121 209 -47 133.5 150.0 16.5 2.36 2.36 21.5
AZC-071 253986 2724122 208 -55 67.5 72.0 4.5 0.51 0.44 5.0
AZC-071 253986 2724122 208 -55 129.0 132.0 3.0 1.74 0.58 24.7
AZC-071 253986 2724122 208 -55 147.0 169.5 22.5 1.79 1.95 18.0
AZC-071 253986 2724122 208 -55 177.0 196.5 19.5 0.65 0.73 9.8
AZC-075 254097 2724113 211 -66 238.5 255.0 16.5 1.25 1.57 14.8
AZC-076 254142 2724093 209 -53 43.5 46.5 3.0 1.08 0.28 13.6
AZC-076 254142 2724093 209 -53 91.5 94.5 3.0 0.81 0.58 25.6
AZC-076 254142 2724093 209 -53 156.0 160.5 4.5 0.72 0.67 22.6
AZC-076 254142 2724093 209 -53 184.5 211.5 27.0 1.70 1.90 17.3
AZC-077 253785 2724323 222 -57 249.0 256.5 7.5 0.74 0.30 15.4
AZC-077 253785 2724323 222 -57 295.5 301.5 6.0 1.03 0.24 10.1
AZC-077 253785 2724323 222 -57 322.5 327.0 4.5 0.53 0.10 5.9
AZC-077 253785 2724323 222 -57 340.5 352.5 12.0 0.91 0.29 9.8
AZC-078 254209 2724059 218 -56 91.5 94.5 3.0 0.97 1.30 9.5
AZC-078 254209 2724059 218 -56 193.5 199.5 6.0 1.91 0.76 20.1
AZC-078 254209 2724059 218 -56 207.0 216.0 9.0 0.90 0.72 10.3
AZC-078 254209 2724059 218 -56 225.0 232.5 7.5 0.54 0.38 6.5
AZR-041 254234 2724154 207 -47 175.3 182.9 7.6 1.44 0.62 31.4
AZR-041 254234 2724154 207 -47 274.3 281.9 7.6 1.19 2.44 23.4
AZR-041 254234 2724154 207 -47 291.1 315.5 24.4 2.10 1.50 23.6
AZR-042 254095 2724110 209 -61 42.7 45.7 3.0 0.56 0.23 46.7
AZR-042 254095 2724110 209 -61 178.3 207.3 29.0 0.95 1.46 11.6
AZR-045 254351 2724003 212 -45 100.6 106.7 6.1 0.81 0.71 20.1
AZR-045 254351 2724003 212 -45 221.0 225.6 4.6 5.88 3.03 66.8
AZR-046 254328 2724014 207 -50 102.1 106.7 4.6 1.52 0.75 18.3
AZR-046 254328 2724014 207 -50 126.5 134.1 7.6 0.96 1.54 14.1
AZR-046 254328 2724014 207 -50 196.6 210.3 13.7 0.65 0.48 11.9
AZR-046 254328 2724014 207 -50 225.6 246.9 21.3 1.38 1.12 24.0
AZR-049 254069 2724118 213 -44 50.3 61.0 10.7 0.50 0.20 2.0
AZR-049 254069 2724118 213 -44 76.2 89.9 13.7 0.81 0.14 3.2
AZR-050 254454 2724033 210 -43 176.8 196.6 19.8 0.80 1.19 13.8
AZR-050 254454 2724033 210 -43 281.9 285.0 3.1 1.54 1.00 19.2
AZR-051 254469 2724060 212 -50 216.4 231.7 15.2 0.56 0.57 10.0
AZR-051 254469 2724060 212 -50 240.8 243.8 3.1 0.69 0.53 12.9
AZR-051 254469 2724060 212 -50 254.5 263.7 9.1 0.56 0.52 6.9
AZR-051 254469 2724060 212 -50 346.0 368.8 22.9 2.01 2.71 25.1
  1. true width has yet to be determined
  2. using a copper cutoff grade 0.5%
  3. fire assay and atomic absorption finish
  4. atomic absorption ("AA")

Qualified Person

Exploration at the Aranzazu Project is being conducted under the supervision of Mr. Alan Hitchborn, P.Geo., who is the Company's Qualified Person as defined by NI 43-101. Mr. Hitchborn has also reviewed and approved the contents of this news release as applicable.

Quality Assurance and Quality Control ("QA/QC") Procedures for the Aranzazu Project

Aura Minerals is presently drilling at the Aranzazu Project utilizing both core and reverse circulation drill rigs. The drilling is conducted by Layne de Mexico. The reverse circulation drill uses a bit sized from 5.5 inches to 4.75 inches. The core program utilizes HQ-sized core and then stepping down to NQ-sized core as required. Samples are collected on a 1.5 metre sample interval. The reverse circulation drill cuttings are split at the drill rig. The samples collected consist of an approximate 25% split of the total material recovered from the interval sampled. This material is shipped directly to the Stewart Group de Mexico ("Stewart Mexico") sample preparation facility in Zacatecas, Mexico and processed utilizing the same sample preparation protocol as used for the core samples discussed below. Assays are completed at the ISO 9001-2008 certified Eco Tech Laboratory Limited ("Eco Tech Stewart"), a subsidiary of the Stewart Group Ltd., in Kamloops, British Columbia, Canada. Diamond drilling core is logged, photographed and then split in half using a diamond core saw. Half the core is retained off-site in a secure storage facility and the other half is sampled, secured in sealed, labeled bags and then transported to the Stewart Mexico facility in Zacatecas, Mexico and processed utilizing the same preparation protocol discussed below. Assays are completed at the Eco Tech Stewart laboratory in Kamloops, B.C. The entire half-core and reverse circulation drill cuttings are crushed to 95% passing 2 millimetres, split and pulverized to 95% passing 150 mesh, split again, and a 150 gram sample sent for assay. Gold assays are determined by fire assay with an AA finish, over limit assays are determined by fire assay with a gravimetric finish. Silver assays are determined by three acid digestion with an AA finish, over limits are determined by fire assay with a gravimetric finish. All samples are analyzed by inductively coupled plasma emission spectrography for multi-element analysis and by AA for copper. The Company systematically inserts certified standard samples, sample duplicates in a non-sequential order and blank samples in all batches of samples sent to Stewart Mexico and Eco Tech Stewart as a means of quality control. Additionally, Stewart Mexico and Eco Tech Stewart has its own stringent internal QA/QC protocols. Check samples are systematically sent to the ALS Chemex lab in Vancouver, Canada. Chain of custody of drill samples is maintained throughout the process with the use of numbered seal tags closing sample bags and third party professional transportation of samples to the laboratories. Each stage of sample handling is recorded in log sheets and receipts obtained from each party involved.

About Aura Minerals Inc.

Aura Minerals is a Canadian resource company focused on the acquisition, exploration and development and operation of gold and base metal projects in the Americas. The Company's portfolio includes the San Andres Gold Mine in Honduras, the Aranzazu Copper-Gold-Silver Project in Mexico, and the feasibility-stage Serrote Deposit at the Arapiraca Copper-Gold-Iron Ore Project in Brazil. In addition, the Company has agreed to acquire the producing Sao Francisco and Sao Vicente Gold Mines in Brazil, subject to regulatory approvals.

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 Map 1, please click on the following link: http://media3.marketwire.com/docs/aur215.pdf

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

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