MONTREAL, QUEBEC--(Marketwire - Feb. 9, 2012) - Augyva Mining Resources Inc. (Augyva or the Company) (TSX VENTURE:AUV.V) is pleased to announce Duncan Lake Iron Ore Project Phase II Drilling, Update # I.
The Phase II program is managed by our joint venture partner, Canadian Century Iron Ore Corporation (Century), a subsidiary or Century Iron Ore Mines Corporation, as part of its expenditure to increase ownership in the project from 51% to 65%. Century is the operator of the Duncan Lake project under the option and joint venture agreement.
Phase II Drilling, Update # I results are being reported for 19,700m of drilling in 54 drill holes located in deposit zones 3, 4 and 6. The table immediately below shows previous drilling. In addition to the 19,700m in this update, approximately 9,000m of drilling has been completed and will be reported when assays are available.
| Phase I drilling, previously reported | 10,460m | in 52 holes | - complete |
| Phase II interim drilling, previously reported | 8,404m | in 25 holes | - complete |
| Phase II drilling, update # I, this report | 19,700m | in 54 holes | - ongoing |
The Phase II drilling program is expected to continue after freeze-up in 2012, to provide information for an NI43-101 updated mineral resource estimate and to perform a Preliminary Economic Assessment (PEA), the contract for which has been awarded to Met-Chem Canada Inc.
The Phase II 19,700 drill program has improved confidence in the continuity of magnetite dominant zones and has demonstrated approximate strike extents of 2.5 km in zone 3, 1.0 km in zone 4 and 1.0 km in zone 6. "Recent drilling and assays continues to show grade consistency" said Peter R. Jones, Chairman & Interim CEO of Augyva. He continued, "Century assures us the project is on track for an updated NI43-101 resource estimate and PEA by approximately mid-2012."
At the end of this news release is a diagram of the Project zones 1 through 6 and three tables namely zone 3, zone 4 and zone 6 with details included of the 19,700m of drilling in 54 drill holes together with mineralized intercepts and grades, drill hole collar coordinates, hole dips and azimuths as well as intercept core lengths.
About the Duncan Lake Property
The Duncan Lake Iron Ore Property ("DLIOP") is located approximately 570 km north of Mattagami, Québec, and can be easily accessed via paved road (Highway 109), connecting Mattagami to Radisson. Road distance from Montreal to DLIOP is estimated to 1,350 km. The property is located 50 km south of Radisson and 10 km south of the LG2 regional airport.
The property is subdivided into six (6) separate mineralized zones (1 to 6) proximal to Highway 109. The claim blocks 1, 2, and 5 are located southwest of the highway and claim blocks 3, 4 and 6 to the northeast. The property has recently been expanded to 528 exploration claims covering 25,448.8 hectares.
The DLIOP is subject to a joint venture agreement between Century, which holds a 51% interest, and Augyva, which holds a 49% interest under an option and joint venture agreement dated May 20, 2008.
On November 11, 2010, Century completed its funding of $6,000,000 to earn an initial 51% interest in the DLIOP in accordance with the JV Agreement. Pursuant to the JV Agreement, and after earning the initial 51% interest, Century will have the option to increase its interest in the property to 65% by expending a further $14 million during the following 4 years thereafter.
Drilling and Assaying Quality Control Procedures
Samples were prepared by IOS Services Géoscientifiques Inc and shipped for assaying to ALS Minerals Ltd in Vancouver, British Columbia, which is independent of Century and Augyva. The samples were analyzed via lithium metaborate XRF, and sulphur was determined by Leco furnace. Iron was reported as total ferric iron and converted to total iron.
The QA/QC program included the insertion of systematic certified and internal standards, blanks and duplicate samples within every sample batch submitted to ALS for approximately 15% of the assay population. In addition, ALS inserts its own duplicate samples. The results from these control samples were monitored by an IOS certified chemist and indicate excellent consistency of analysis.
This press release has been prepared under the supervision of Mr. Rejean Girard (P.Geo.) of IOS Services Géoscientifiques Inc, who is an independent consultant and the Qualified Person for the technical data disclosed in this press release.
About Augyva Mining Resources Inc.
Augyva is an exploration and development company holding five (5) properties located in the James Bay and Abitibi regions of the Province of Quebec. Its major project is its interest in the DLIOP located in the western part of the La Grande Greenstone Belt. A NI 43-101 compliant technical report on the mineral resource was prepared by Met-Chem. Canada Inc. and was released in March 2010.
In addition to the DLIOP, Augyva holds a 100% interest in four other mineral properties, namely: Yasinski and Kali in the James Bay region and Senneville and Malartic in the Abitibi region.
Cautionary Statement
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Augyva's disclosure documents on the SEDAR website at www.sedar.com. Augyva does not undertake to update any forward looking information except in accordance with applicable securities laws.
To view the map of the Duncan Lake Property Claim Block (1) and Immediate Area, please visit the following link: http://media3.marketwire.com/docs/auvmap0209.pdf
Note: Claim block numbers 1 through 6 contain the Magnetite Iron Formation Zones 1 through 6
Zone 3 - Duncan Lake Iron Ore Project Phase II Drilling, Update #I - Results
The following intercepts were defined by a 16% Fe cut off and an 8m minimum core length. True widths have yet to be determined. Drill results indicate that the geometry of folding within zone 3 is relatively complex. The reader is cautioned that true widths may vary significantly from the reported drilled core lengths.
| HOLE NUMBER | NORTHING | EASTING | ELEVATION | DIP | AZIMUTH | FROM (M) |
TO (M) |
Core Length (M) |
FE % |
| DUN-11-228 | 5935588 | 323956 | 153 | -54 | 315 | 90 | 108 | 18 | 25.8 |
| 126 | 138 | 12 | 23.1 | ||||||
| 216 | 225 | 9 | 29.9 | ||||||
| DUN-11-229 | 5935864 | 323960 | 165 | -52 | 315 | NSA | |||
| DUN-11-232 | 5935973 | 324134 | 155 | -50 | 315 | 43.9 | 341.4 | 297.5 | 32.6 |
| DUN-11-233 | 5935837 | 324273 | 153 | -50 | 316 | 45.8 | 86.4 | 40.6 | 27.7 |
| DUN-11-234 | 5936376 | 324015 | 173 | -50 | 315 | 167 | 194.8 | 27.8 | 30.8 |
| DUN-11-235 | 5936140 | 324252 | 163 | -50 | 315 | 138 | 210 | 72 | 24.6 |
| 228 | 291 | 63 | 23.8 | ||||||
| 294 | 318 | 24 | 18.9 | ||||||
| 321 | 333 | 12 | 24.6 | ||||||
| 336 | 501 | 165 | 29.2 | ||||||
| 507 | 552 | 45 | 26.7 | ||||||
| 555 | 567 | 12 | 27.7 | ||||||
| DUN-11-236 | 5935951 | 324440 | 156 | -52 | 315 | 64.5 | 156 | 91.5 | 25.2 |
| 236.5 | 273 | 36.6 | 23.7 | ||||||
| DUN-11-237 | 5936441 | 324232 | 178 | -50 | 315 | 42.3 | 149.8 | 107.5 | 26.4 |
| 209.6 | 396 | 186.4 | 27.6 | ||||||
| DUN-11-238 | 5936167 | 324537 | 160 | -50 | 315 | 13.8 | 135 | 121.3 | 26.1 |
| DUN-11-240 | 5936484 | 324471 | 172 | -51 | 315 | 21.9 | 35.2 | 13.3 | 28.5 |
| 51 | 66 | 15 | 20.1 | ||||||
| 86.7 | 97.8 | 11.1 | 20.3 | ||||||
| 399 | 493.2 | 94.2 | 24.3 | ||||||
| DUN-11-242 | 5936294 | 324948 | 153 | -51 | 315 | 56 | 96 | 40 | 26.8 |
| 117 | 201 | 84 | 22.3 | ||||||
| DUN-11-245 | 5936584 | 324938 | 151 | -53 | 315 | 159 | 168 | 9 | 23.4 |
| 198 | 372 | 174 | 25.4 | ||||||
| DUN-11-246 | 5936359 | 325163 | 152 | -51 | 315 | 183 | 270 | 87 | 23.3 |
| 296 | 336 | 40 | 29.8 | ||||||
| DUN-11-247 | 5937051 | 324753 | 153 | -53 | 319 | 153 | 165 | 12 | 22.4 |
| 309 | 384 | 75 | 24.8 | ||||||
| DUN-11-248 | 5936811 | 325010 | 151 | -52 | 316 | 78 | 87 | 9 | 24.7 |
| 114 | 123 | 9 | 22.9 | ||||||
| DUN-11-251 | 5937229 | 324859 | 154 | -52 | 314 | 324 | 387.3 | 63.3 | 23.1 |
| DUN-11-252 | 5936706 | 325394 | 149 | -51 | 315 | 24.6 | 63 | 38.4 | 30.2 |
| 78 | 99 | 21 | 33.7 | ||||||
| DUN-11-255 | 5936802 | 325566 | 155 | -50 | 320 | NSA | |||
| DUN-11-256 | 5936583 | 325784 | 147 | -52 | 315 | 75 | 88 | 13 | 26.2 |
| DUN-11-259 | 5937585 | 325069 | 164 | -50 | 315 | 294 | 330 | 36 | 23.5 |
| DUN-11-260 | 5937105 | 325545 | 165 | -51 | 315 | 5.5 | 48 | 42.5 | 28.9 |
| DUN-11-261 | 5936957 | 325695 | 155 | -52 | 312 | 112 | 253 | 141 | 25.8 |
| 357 | 375 | 18 | 19.2 | ||||||
| DUN-11-263 | 5937104 | 325830 | 163 | -50 | 315 | NSA | |||
| DUN-11-334 | 5935541 | 324001 | 153 | -54 | 308 | 146 | 165 | 19 | 31 |
| 186 | 195 | 9 | 18.9 | ||||||
| 356 | 364 | 8 | 20.5 | ||||||
| DUN-11-340 | 5936264 | 324126 | 172 | -43 | 320 | 162.8 | 174.4 | 11.6 | 36.3 |
| 304 | 375 | 71 | 31.9 | ||||||
| DUN-11-343 | 5936318 | 324357 | 169 | -50 | 315 | 173.5 | 197.4 | 23.9 | 22.5 |
| 211.9 | 263.5 | 51.7 | 25.8 | ||||||
| 279.1 | 320.1 | 41 | 23.7 | ||||||
| 340.8 | 355.4 | 14.7 | 21.5 | ||||||
| 366.3 | 492.4 | 126.2 | 23.8 | ||||||
| 505.7 | 620.8 | 115.1 | 23.6 | ||||||
| DUN-11-345 | 5936626 | 324332 | 176 | -47 | 312 | 43.9 | 140.8 | 96.9 | 24.4 |
| 167.9 | 248.5 | 80.7 | 20.7 | ||||||
| 263.1 | 436 | 172.9 | 22.9 | ||||||
| 447.6 | 456.3 | 8.7 | 17.8 | ||||||
| DUN-11-351 | 5936219 | 325024 | 155 | -49 | 313 | 129 | 204 | 75 | 21.2 |
| 231 | 291 | 60 | 24 | ||||||
| DUN-11-360 | 5937413 | 324956 | 159 | -50 | 314 | 290.1 | 339 | 48.9 | 21.4 |
| DUN-11-362 | 5936513 | 325857 | 148 | -51 | 315 | 6 | 42 | 36 | 22.5 |
| DUN-11-364 | 5937675 | 324982 | 161 | -51 | 315 | 171 | 183 | 12 | 25.2 |
| DUN-11-367 | 5937891 | 324910 | 163 | -51 | 315 | 6 | 30 | 24 | 22.4 |
| DUN-11-368 | 5937177 | 325754 | 160 | -52 | 315 | NSA | |||
| (NSA - No Significant Assays) | |||||||||
Zone 4 - Duncan Lake Iron Ore Project Phase II Drilling, Update # I - Results
The following intercepts were defined by a 16% Fe cut off and an 8m minimum core length. True widths have yet to be determined. Drill results indicate that the geometry of zone 4 is controlled by a thrust fault, which hinders the accurate interpretation of the true width of the mineralized intersections. The reader is cautioned that true widths may vary significantly from the reported drilled core lengths.
| HOLE NUMBER | NORTHING | EASTING | ELEVATION | DIP | AZIMUTH | FROM (M) |
TO (M) |
Core Length (M) |
FE % |
| DUN-11-212 | 5941639 | 329388 | 149 | -67 | 320 | 38 | 286 | 248 | 25.5 |
| 345.6 | 444.3 | 96.5 | 22.4 | ||||||
| DUN-11-213 | 5941589 | 329428 | 147 | -51 | 320 | 105.85 | 298 | 192.1 | 24.2 |
| 302 | 330.3 | 28.4 | 24 | ||||||
| DUN-11-214 | 5941795 | 329520 | 152 | -60 | 320 | 56.8 | 73.6 | 16.8 | 25.8 |
| 89.7 | 191.5 | 101.8 | 25.6 | ||||||
| 210.3 | 230.2 | 19.9 | 22.7 | ||||||
| 296.5 | 397.6 | 101.1 | 21.5 | ||||||
| 450.4 | 459.6 | 9.2 | 21.9 | ||||||
| DUN-11-215 | 5941985 | 329361 | 156 | -61 | 320 | 14.7 | 130.7 | 116 | 21.1 |
| DUN-11-216 | 5942086 | 329525 | 156 | -61 | 320 | 37.8 | 48.6 | 10.8 | 19.1 |
| 65.5 | 91.6 | 26.1 | 19.2 | ||||||
| DUN-11-217 | 5941911 | 329684 | 149 | -61 | 320 | 106.5 | 116.2 | 9.7 | 20.9 |
| 122.3 | 234 | 111.7 | 25.8 | ||||||
| DUN-11-218 | 5942138 | 329751 | 148 | -61 | 320 | 28.1 | 46.6 | 18.5 | 18.4 |
| 72.4 | 84.3 | 11.9 | 24.4 | ||||||
| 90.4 | 103.7 | 13.3 | 17.5 | ||||||
| DUN-11-219 | 5942043 | 329834 | 147 | -64 | 320 | 60 | 187.6 | 127.6 | 23.3 |
| 221.3 | 240 | 18.7 | 22.2 | ||||||
| DUN-11-221 | 5942076 | 330067 | 143 | -62 | 320 | 155.8 | 241 | 85.2 | 27 |
| 259.4 | 270 | 10.6 | 23.8 | ||||||
| DUN-11-222 | 5942143 | 330267 | 144 | -61 | 320 | 187.1 | 200.5 | 13.4 | 20.8 |
| 219.4 | 227.5 | 8.1 | 22.3 | ||||||
| 238.1 | 265.4 | 27.3 | 18.3 | ||||||
| DUN-11-223 | 5942306 | 330394 | 144 | -61 | 320 | 133 | 143.5 | 10.5 | 25.9 |
| DUN-11-224 | 5942451 | 330535 | 145 | -61 | 320 | 83.2 | 97.7 | 14.5 | 27.1 |
| DUN-11-320 | 5941932 | 329399 | 156 | -60 | 320 | 8.6 | 17.5 | 8.9 | 18.7 |
| 91.9 | 206.3 | 114.4 | 23.5 | ||||||
| DUN-11-321 | 5941838 | 329483 | 152 | -60 | 320 | 16.9 | 165.8 | 148.9 | 22.4 |
| 231.2 | 337.6 | 106.4 | 22.3 | ||||||
| 375.5 | 391.6 | 16.2 | 18.4 | ||||||
| DUN-11-331 | 5942393 | 330584 | 146 | -62 | 320 | 188 | 203.4 | 15.4 | 28.5 |
| DUN-11-332 | 5942593 | 330667 | 146 | -54 | 320 | NSA | |||
| (NSA - No Significant Assays) | |||||||||
Zone 6 - Duncan Lake Iron Ore Project Phase II Drilling, Update # I - Results
The following intercepts were defined by a 16% Fe cut off and an 8m minimum core length. True widths have yet to be determined. Zone 6 is intruded by an irregular network of granitic intrusives which hinder the estimation of true width. The reader is cautioned that true widths may vary significantly from the reported drilled core lengths.
| HOLE NUMBER | NORTHING | EASTING | ELEVATION | DIP | AZIMUTH | FROM (M) |
TO (M) |
Core Length (M) |
FE % |
| DUN-11-272 | 5936321 | 326757 | 154 | -51 | 340 | 16.2 | 65.2 | 49 | 23.2 |
| 118.2 | 127.3 | 9.1 | 24.1 | ||||||
| 173.4 | 196.5 | 23.1 | 24.5 | ||||||
| 312.3 | 321.2 | 8.9 | 22.3 | ||||||
| DUN-11-273 | 5936163 | 326814 | 156 | -52 | 340 | 4.8 | 42.4 | 37.6 | 30.5 |
| 273.7 | 346.6 | 72.9 | 31.2 | ||||||
| 366.3 | 384.5 | 18.2 | 23.3 | ||||||
| 450.7 | 466.5 | 15.8 | 21.9 | ||||||
| DUN-11-383 | 5936395 | 327263 | 153 | -52 | 340 | 146.2 | 224.8 | 78.6 | 20.1 |
| 236.8 | 245.3 | 8.5 | 27.8 | ||||||
| DUN-11-384 | 5936545 | 327313 | 152 | -52 | 340 | 9.5 | 45.5 | 36 | 19.3 |
| 115.8 | 127.9 | 12.1 | 32.9 | ||||||
| DUN-11-386 | 5936641 | 327492 | 152 | -50 | 340 | 8 | 34.8 | 26.8 | 19.2 |
| 64.1 | 156 | 91.9 | 25.7 |
Neither 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 release.
Contact Information:
Augyva Mining Resources Inc.
416-309-2198
www.augyva.com