Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

October 13, 2010 01:26 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2010) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is pleased to release an additional 58 drill holes from the ongoing infill and extension drilling program at its wholly-owned copper-gold-silver Aranzazu Project in Zacatecas State, Mexico. The most recent drilling was designed to target zones southeast along strike, from along the Glory Hole-Tiro Azules zone to Cabrestante zone. Drilling continues to show the high-grade potential of the Aranzazu Project deposit.

Of the 58 reported drill holes, 41 drill holes have intercepts of greater than 1.0% Cu with significant gold and silver values. Drilling continues to intercept higher-than-average gold grades with holes AZR-043, AZR-044 and AZR-129 returning high grades of copper, silver and gold. 

Highlights include (see Table 1 and Map 1): 

  • Hole AZC-093 which returned 13.5 metres of 2.61% Cu, 2.99 g/t Au and 39.33 g/t Ag;

  • Hole AZC-098 which returned 30.0 metres of 1.13% Cu, 0.64 g/t Au and 16.43 g/t Ag;

  • Hole AZC-131 which returned 13.5 metres of 2.23% Cu, 1.07 g/t Au and 22.42 g/t Ag;

  • Hole AZR-043 which returned 13.7 metres of 1.34 % Cu, 10.91 g/t Au and 36.89 g/t Ag;

  • Hole AZR-044 which returned 10.7 metres of 1.19% Cu, 12.64 g/t Au and 68.29 g/t Ag, and a further 9.1 metres of 1.13% Cu, 13.22 g/t Au and 9.62 g/t Ag;

  • Hole AZR-129 which returned 15.2 metres of 1.44% Cu, 8.96 g/t Au and 107.97 g/t Ag, and a further 7.6 metres of 1.14% Cu, 9.05 g/t Au and 67.55 g/t Ag;

  • Hole AZR-130 which returned 10.7 metres of 2.15% Cu, 1.80 g/t Au and 28.17 g/t Ag;

  • Hole AZR-133 which returned 13.7 metres of 1.38% Cu, 0.99 g/t Au and 17.89 g/t Ag;

  • Hole AZR-141 which returned 39.6 metres of 1.11% Cu, 1.25 g/t Au and 14.68 g/t Ag;

  • Hole AZR-145 which returned 12.2 metres of 2.17% Cu, 2.36 g/t Au and 24.44 g/t Ag;

  • Hole AZR-149 which returned 10.7 metres of 1.53% Cu, 1.99 g/t Au and 40.62 g/t Ag;

  • Hole AZR-153 which returned 15.2 metres of 1.82% Cu, 1.29 g/t Au and 22.23 g/t Ag;

  • Hole AZR-180 which returned 9.1 metres of 1.18% Cu, 1.01 g/t Au and 16.07 g/t Ag;

  • Hole AZR-181 which returned 9.1 metres of 1.37% Cu, 1.62 g/t Au and 32.60 g/t Ag;

  • Hole AZR-184 which returned 10.7 metres of 1.36% Cu, 2.97 g/t Au and 48.23 g/t Ag;

  • Hole AZR-186 which returned 16.8 metres of 1.40% Cu, 1.68 g/t Au and 25.37 g/t Ag;

  • Hole AZR-192 which returned 16.8 metres of 1.33% Cu, 0.72 g/t Au and 13.55 g/t Ag;

  • Hole AZR-201 which returned 32.0 metres of 1.94% Cu, 1.27 g/t Au and 34.72 g/t Ag;

  • Hole AZR-202 which returned 21.3 metres of 1.67% Cu, 1.30 g/t Au and 27.54 g/t Ag;

  • Hole AZR-204 which returned 18.3 metres of 1.98% Cu, 1.25 g/t Au and 31.33 g/t Ag;

  • Hole UAZ-016 which returned 19.5 metres of 1.24% Cu, 0.43 g/t Au and 6.66 g/t Ag; and

  • Hole UAZ-027 which returned 16.5 metres of 2.88% Cu, 0.48 g/t Au and 32.43 g/t Ag.

These results were received after the most recent resource update (see News Release no. 2010-18 dated September 20, 2010). A further 55 holes have been drilled and are awaiting assay results. Three rigs continue to drill along strike, with a focus on the area from the Glory Hole to Cabrestante, and south of Cabrestante on a zone termed "C-C" which has a number of very good historical drill intercepts and is below historic workings. Zone C-C has not been included in any resource calculation to date.

Aranzazu Commissioning

The commissioning of the Aranzazu mine and plant are continuing as planned. The crushing plant and mills #2 and #3 have been fully commissioned, as has the rougher/cleaner/flotation circuit. The tailings systems are now fully operational. Commissioning of mill #1 and of the concentrate thickener and filter press is currently underway. All three mills are expected to be running by the end of October, ramping up to full throughput of 2,600 tonnes per day during Q1/2011.

Commenting on these results, Mr. Patrick Downey, President and CEO of Aura Minerals, stated, "Drilling results from our Aranzazu Project continue to be excellent. The resource continues to grow along strike and at depth. In regards to the restart of the Aranzazu operation, the commissioning of the new mill is well underway, with all systems operating as designed. We are very pleased with the progress to date and expect to ramp up to full throughput by Q1/2011." 

Table 1 – Aranzazu Assays (see Map1 below)
 
Hole # East North Azimuth (º) Dip
(º)
From (metres) To (metres) Interval(1)(metres) Cu (2)(4)(%) Au (3)(g/t) Ag (3)(g/t)
AZC-091 254502 2724066 208 -49 227.0 231.5 4.5 1.39 1.52 18.80
AZC-091 254502 2724066 208 -49 239.0 252.5 13.5 0.66 0.38 13.43
AZC-091 254502 2724066 208 -49 269.0 276.5 7.5 0.65 0.56 6.58
AZC-091 254502 2724066 208 -49 401.0 410.0 9.0 1.08 0.65 13.37
AZC-091 254502 2724066 208 -49 414.5 420.5 6.0 0.99 0.72 12.88
AZC-093 254192 2724179 201 -40 192.0 196.5 4.5 0.54 0.44 18.97
AZC-093 254192 2724179 201 -40 288.0 301.5 13.5 2.61 2.99 39.33
AZC-098 253954 2724266 390 -65 154.5 157.5 3.0 1.24 0.20 20.55
AZC-098 253954 2724266 390 -65 309.0 339.0 30.0 1.13 0.64 16.43
AZC-098 253954 2724266 390 -65 349.5 354.0 4.5 0.69 0.55 11.47
AZC-098 253954 2724266 390 -65 361.5 364.5 3.0 0.54 0.27 4.10
AZC-099 253956 2724270 214 -69 348.5 351.5 3.0 0.53 0.07 5.50
AZC-154 254328 2724112 467 -74 321.0 325.5 4.5 1.11 0.67 32.33
AZC-154 254328 2724112 467 -74 429.0 436.5 7.5 0.59 0.63 7.72
AZR-043 254041 2724117 203 -52 134.1 147.8 13.7 1.34 10.91 36.89
AZR-044 254041 2724117 203 -58 150.8 161.5 10.7 1.19 12.64 68.29
AZR-044 254041 2724117 203 -58 167.7 176.8 9.1 1.13 13.22 9.62
AZR-111 254542 2723837 210 -52 0.0 6.1 6.1 0.66 0.66 6.75
AZR-129 254313 2723913 208 -37 12.2 27.4 15.2 1.44 8.96 107.97
AZR-129 254313 2723913 208 -37 86.9 94.5 7.6 1.14 9.05 67.55
AZR-130 254545 2723839 213 -82 0.0 6.1 6.1 1.13 0.32 4.52
AZR-130 254545 2723839 213 -82 35.1 38.1 3.0 0.77 0.01 1.55
AZR-130 254545 2723839 213 -82 164.6 175.3 10.7 2.15 1.80 28.17
AZR-131 254390 2723927 204 -71 48.8 51.8 3.0 2.72 0.34 45.59
AZR-131 254390 2723927 204 -71 56.4 61.0 4.6 1.11 2.48 22.63
AZR-131 254390 2723927 204 -71 86.9 99.1 12.2 0.59 0.83 10.14
AZR-133 254508 2723880 216 -67 38.1 42.7 4.6 1.62 1.65 18.20
AZR-133 254508 2723880 216 -67 89.9 103.6 13.7 1.38 0.99 17.89
AZR-134 254509 2723881 210 -75 50.3 57.9 7.6 0.50 0.89 7.90
AZR-134 254509 2723881 210 -75 85.3 91.4 6.1 0.73 1.56 11.07
AZR-134 254509 2723881 210 -75 106.7 125.0 18.3 0.91 1.68 13.27
AZR-138 254472 2723861 28 -69 60.9 65.5 4.6 0.76 1.69 16.63
AZR-140 254260 2723990 180 -45 132.6 137.2 4.6 3.13 2.45 60.53
AZR-141 254461 2723891 211 -85 19.8 30.5 10.7 1.68 0.13 5.53
AZR-141 254461 2723891 211 -85 99.1 138.7 39.6 1.11 1.25 14.68
AZR-142 254334 2723943 207 -41 56.4 74.7 18.3 0.51 1.1 7.97
AZR-142 254334 2723943 207 -41 141.7 147.8 6.1 0.51 0.38 6.70
AZR-143 254462 2723890 218 -77 71.6 91.4 19.8 0.96 1.16 12.99
AZR-145 254403 2723892 213 -64 0.0 10.7 10.7 1.09 0.48 14.19
AZR-145 254403 2723892 213 -64 22.9 35.1 12.2 2.17 2.36 24.44
AZR-145 254403 2723892 213 -64 195.1 221.0 25.9 0.92 0.54 11.44
AZR-148 254402 2723892 212 -44 3.0 9.1 6.1 1.10 0.73 19.12
AZR-148 254402 2723892 212 -44 19.9 22.9 3.0 0.60 0.09 1.60
AZR-149 254379 2723953 210 -45 45.7 51.8 6.1 1.32 0.03 4.38
AZR-149 254379 2723953 210 -45 82.3 93.0 10.7 1.53 1.99 40.62
AZR-150 254381 2723953 215 -45 88.4 91.4 3.0 0.52 1.16 12.30
AZR-150 254381 2723953 215 -45 187.4 192.0 4.6 1.64 1.22 29.63
AZR-150 254381 2723953 215 -45 201.2 202.7 1.5 0.55 0.39 7.60
AZR-151 254405 2723893 30 -45 0.0 3.1 3.1 3.56 2.00 24.38
AZR-151 254405 2723893 30 -45 22.8 27.4 4.6 0.66 0.22 2.29
AZR-153 254382 2723955 206 -59 94.5 109.7 15.2 1.82 1.29 22.23
AZR-153 254382 2723955 206 -59 115.9 118.9 3.0 0.54 0.96 8.90
AZR-155 254348 2723890 206 -39 74.4 79.0 4.6 0.60 0.59 6.43
AZR-155 254348 2723890 206 -39 133.8 136.8 3.0 0.70 0.64 8.05
AZR-161 254499 2723812 215 -37 27.4 44.2 16.8 0.80 2.94 57.12
AZR-173 254572 2723739 214 -52 41.1 44.2 3.1 1.00 0.73 10.56
AZR-177 254492 2723994 202 -36 152.4 167.6 15.2 0.61 0.53 7.21
AZR-179 254532 2723865 215 -49 0.0 9.1 9.1 0.98 0.17 9.78
AZR-179 254532 2723865 215 -49 21.4 24.4 3.0 0.90 2.52 57.20
AZR-180 254492 2723995 212 -49 164.6 170.7 6.1 0.68 0.85 7.73
AZR-180 254492 2723995 212 -49 178.4 187.5 9.1 1.18 1.01 16.07
AZR-181 254528 2723865 210 -78 9.1 12.2 3.1 0.70 0.16 4.11
AZR-181 254528 2723865 210 -78 16.7 21.3 4.6 0.79 0.33 12.73
AZR-181 254528 2723865 210 -78 132.6 141.7 9.1 1.37 1.62 32.60
AZR-182 254557 2723961 215 -46 137.2 140.2 3.0 0.62 1.59 6.75
AZR-182 254557 2723961 215 -46 157.0 166.1 9.1 0.98 1.10 15.42
AZR-183 254558 2723961 215 -53 172.2 189.0 16.8 0.62 1.28 25.56
AZR-184 254584 2723953 214 -43 128.0 138.7 10.7 1.36 2.97 48.23
AZR-185 254544 2723836 200 -58 6.1 10.7 4.6 1.09 0.08 5.26
AZR-185 254544 2723836 200 -58 166.1 170.7 4.6 1.34 0.60 11.9
AZR-186 254584 2723953 216 -54 198.1 214.9 16.8 1.40 1.68 25.37
AZR-190 254611 2723952 215 -45 224.0 230.1 6.1 1.59 1.79 28.41
AZR-192 253922 2724061 179 -52 57.9 74.7 16.8 1.33 0.72 13.55
AZR-193 253901 2724039 216 -48 24.3 31.9 7.6 1.74 0.96 17.02
AZR-194 254272 2723929 207 -44 4.6 7.6 3.1 1.51 0.57 8.06
AZR-199 254643 2723707 27 -50 106.7 109.7 3.1 2.25 3.38 71.61
AZR-199 254643 2723707 27 -50 115.8 118.9 3.1 0.85 3.70 36.66
AZR-201 254163 2723973 242 -47 18.3 50.3 32.0 1.94 1.27 34.72
AZR-202 254164 2723971 62 -41 19.8 41.2 21.3 1.67 1.30 27.54
AZR-204 254640 2723705 216 -62 141.7 147.8 6.1 0.95 0.95 10.14
AZR-204 254640 2723705 216 -62 166.1 184.4 18.3 1.98 1.25 31.33
AZR-205 254667 2723701 209 -51 205.7 208.8 3.1 0.77 0.45 7.70
AZR-205 254667 2723701 209 -51 221.0 224.0 3.1 0.89 0.50 8.20
UAZ-016 254570 2724105 220 -67 13.5 16.5 3.0 1.71 0.61 12.50
UAZ-016 254570 2724105 220 -67 109.5 112.5 3.0 1.57 0.37 19.70
UAZ-016 254570 2724105 220 -67 138.0 157.5 19.5 1.24 0.43 6.66
UAZ-017 253739 2724105 220 -73 12.0 18.0 6.0 2.18 0.71 14.17
UAZ-017 253739 2724105 220 -73 139.5 142.5 3.0 0.67 0.26 8.35
UAZ-017 253739 2724105 220 -73 160.5 172.5 12.0 1.11 0.41 24.64
UAZ-018 253743 2724108 40 13 36.0 39.0 3.0 0.70 0.32 3.85
UAZ-019 253743 2724108 40 -10 66.0 70.5 4.5 1.57 0.48 17.20
UAZ-020 253743 2724108 40 -42 63.0 66.0 3.0 0.56 0.13 2.85
UAZ-021 253743 2724108 60 35 40.5 48.0 7.5 1.62 0.47 11.55
UAZ-021 253743 2724108 60 35 57.0 61.5 4.5 0.75 0.14 5.08
UAZ-022 253745 2724108 80 -17 61.5 79.5 18.0 0.80 0.39 4.78
UAZ-023 253745 2724108 56 -32 52.5 60.0 7.5 0.78 0.2 3.98
UAZ-023 253745 2724108 56 -32 73.5 79.5 6.0 0.69 0.28 4.50
UAZ-024 253745 2724108 80 30 4.5 9.0 4.5 0.79 0.15 4.90
UAZ-025 253745 2724108 90 15 4.5 9.0 4.5 0.87 0.27 6.90
UAZ-025 253745 2724108 90 15 16.5 19.5 3.0 0.82 0.36 4.95
UAZ-025 253745 2724108 90 15 45.0 51.0 6.0 0.66 0.3 4.50
UAZ-025 253745 2724108 90 15 63.0 72.0 9.0 0.99 0.33 8.47
UAZ-026 253703 2724142 220 -33 7.5 10.5 3.0 2.09 0.52 20.95
UAZ-026 253703 2724142 220 -33 97.5 118.5 21.0 0.77 0.20 9.03
UAZ-027 253703 2724142 220 -45 6.0 13.5 7.5 0.72 0.28 8.68
UAZ-027 253703 2724142 220 -45 27.0 33.0 6.0 1.05 0.52 10.28
UAZ-027 253703 2724142 220 -45 88.5 91.5 3.0 0.83 0.21 12.00
UAZ-027 253703 2724142 220 -45 115.5 132.0 16.5 2.88 0.48 32.43
UAZ-028 253703 2724142 170 -57 7.5 21.0 13.5 0.62 0.59 6.72
UAZ-028 253703 2724142 170 -57 34.5 37.5 3.0 2.69 0.59 75.85
UAZ-028 253703 2724142 170 -57 114.0 123.0 9.0 1.05 0.17 8.52
UAZ-028 253703 2724142 170 -57 145.5 150.0 4.5 4.02 0.58 7.17
   
(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, copper, lead and zinc assays are determined by a four acid digestion with an ICP-MS finish. Molybdenum assays are determined by aqua regia digestion followed by an ICP-OES finish. Silver overlimits are determined by a fire assay with a gravimetric finish. 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 have their 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 mid-tier gold production company focused on the acquisition, exploration, 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, and the recently acquired, producing Sao Francisco and Sao Vicente gold mines in Brazil. The Company is also developing the copper-gold-silver Aranzazu Project in Zacatecas state in Mexico, which will commence operation in the second half of 2010. Other significant assets include the feasibility-stage Serrote Deposit at the copper-gold-iron ore Arapiraca Project in Brazil.

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 the map associated with this release, please visit: http://media3.marketwire.com/docs/oramap1a.pdf.

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

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