Augyva Mining Resources Inc.

Augyva Mining Resources Inc.

August 23, 2006 09:36 ET

Augyva Announces the Discovery of a New Gold Mineralization in Metasediments

RADISSON, QUEBEC--(CCNMatthews - Aug. 23, 2006) - Augyva Mining Resources Inc. (TSX VENTURE:AUV) (the "Company") is pleased to announce the discovery of a new gold mineralization in the Yasinski central part of the property. Further to the exploration works started in May 2006, two (2) grab samples, (approx. 2.5 kg per sample) were collected 50 and 200 metres away from the grab sample Rad 09 (16,12g/t) collected in 1996 (line 23+80 0+25E) on which considered finely disseminated sulphides (pyrite, pyrrhotite and arsenopyrite) associated with altered siliceous and strongly potassic fine-grained metasediments (paragneiss). The two samples assayed the following significant results:

Sample No. Localization Au (g/t)
Ysn 506-70 L21+50, 2+00E 12,80
Ysn 506-74 L23+75, 0+75E 16,75

The field observation prospecting work indicates that the metasediments are over thirty (30) metres thick and several hundreds of metres of strike length in both direction (North-East and South-West). Further to these results, more than 20 samples along and through the sediments have already been taken and are presently being assayed with results expected shortly.

Management is very encouraged by these initial results. The metasediments are comparable with those hosting Roberto gold deposit. Mechanical stripping, detailed mapping and diamond saw channels sampling will permit to evaluate the surface potential and extensions of the mineralized metasediments.

Assay results for more than 500 pedogeochemical samples and 165 lithogeochemical samples from Yasinski property are expected shortly.

The technical evaluation NI43-101 for the Duncan Lake Iron ore project is in progress and should be ready in early October.

This Press release was written and revised by Georges-Yvan Gagnon, professional geologist (OGQ) and fulfills the requirements to be a qualified person for the purpose of National Instrument 43-101. Augyva is a mineral exploration company which is actively exploring favourable metallogenic belts in James Bay and Abitibi, Quebec. Augyva has 18,628,922 shares issued and a current market capitalization of about $19,560,368.

Augyva Mining Resources holds 100% interests on his gold and polymetallic properties of Yasinski, Kali (Opinaca), and on the Duncan Lake iron ore deposit in James Bay. The Company also holds 100% interest on the Malartic and Senneville properties in Abitibi.

The TSX Venture Exchange neither approves or disapproves the information contained this news release.

Contact Information

  • Augyva Mining Resources Inc.
    Georges-Yvan Gagnon
    (819) 275-1614