Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

November 22, 2010 17:16 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 22, 2010) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is pleased to release an additional 21 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 the Glory Hole zone to the Cabrestante zone. In addition, results were received for the first hole drilled to the south of the Cabrestante zone on a zone termed "Zona CC". This hole (AZC-179) returned 45.0 metres of 1.05% Cu, 0.86 g/t Au and 28.83 g/t Ag and continues to show the high-grade on-strike potential of the Aranzazu Project. Drilling on Zona CC continues, with 12 additional drill holes awaiting assay results. Zona CC has not been included in any resource calculation to date.

Of the 20 reported drill holes from the Glory Hole and Cabrestante zones, 14 drill holes have intercepts of greater than 1.0% Cu with significant gold and silver values.

Highlights include (see Table 1 and Map 1): 

  • Hole AZC-097, which returned 55.5 metres of 1.15% Cu, 0.44 g/t Au and 9.40 g/t Ag;
  • Hole AZC-112, which returned 15.0 metres of 1.89% Cu, 2.79 g/t Au and 21.94 g/t Ag;
  • Hole AZC-115, which returned 18.0 metres of 1.15% Cu, 0.96 g/t Au and 12.05 g/t Ag;
  • Hole AZC-117, which returned 25.5 metres of 1.81% Cu, 1.00 g/t Au and 23.36 g/t Ag;
  • Hole AZC-123, which returned 22.5 metres of 1.29% Cu, 0.82 g/t Au and 11.83 g/t Ag;
  • Hole AZC-146, which returned 16.5 metres of 1.48% Cu, 0.93 g/t Au and 14.10 g/t Ag;
  • Hole AZC-158, which returned 19.5 metres of 1.24% Cu, 0.80 g/t Au and 21.44 g/t Ag;
  • Hole AZC-166, which returned 12.0 metres of 1.98% Cu, 1.71 g/t Au and 23.71 g/t Ag, and 19.5 metres of 1.76% Cu, 0.80 g/t Au and 16.88 g/t Ag;
  • Hole AZC-200, which returned 10.7 metres of 1.05% Cu, 2.05 g/t Au and 15.72 g/t Ag;
  • Hole AZC-209, which returned 32.0 metres of 1.00% Cu, 1.17 g/t Au and 10.70 g/t Ag; and
  • Zona CC Hole AZC-179, which returned 45.0 metres of 1.05% Cu, 0.86 g/t Au and 28.83 g/t Ag;

These results were received after the most recent resource update (see News Release no. 2010-18 dated September 20, 2010). Three rigs continue to drill along strike, with a focus on the area from the Glory Hole zone to Zona CC. In addition, two drill rigs are focused on the deep drill program at the Aranzazu Project, for which 10 holes have been released to date. Additional results from the deep drill program are expected later this quarter.

Commenting on these results, Mr. Patrick Downey, President and CEO of Aura Minerals, stated, "Drilling results continue to confirm the high-grade nature of the resource at the Aranzazu Project and expand the resource along strike and at depth. Zona CC is a completely new zone along strike for this project and we believe that further drilling on Zona CC could add significant high-grade tonnes to the resource."

Aranzazu Commissioning

The commissioning of the Aranzazu mine and plant are continuing as planned. Commissioning of the grinding circuit is ongoing, with throughput expected to average 1,000 tonnes per day ("tpd") in November, ramping up to full throughput of 2,600 tpd by year-end.

Table 1 – Aranzazu Assays (see Map 1 below)

Hole # East North Azimuth (°) Dip
(°)
From
(metres)
To
(metres)
Interval(1)
(metres)
Cu (2)(4)
(%)
Au (3)
(g/t)
Ag (3)
(g/t)
AZC-097 253925 2724265 210 -60 142.5 145.5 3.0 0.93 0.29 29.00
AZC-097 253925 2724265 210 -60 271.5 274.5 3.0 0.89 0.30 5.80
AZC-097 253925 2724265 210 -60 295.5 351 55.5 1.15 0.44 9.40
AZC-112 254119 2724203 210 -49 285.0 300.0 15.0 1.89 2.79 21.94
AZC-115 254119 2724203 211 -55 300.0 318.0 18.0 1.15 0.96 12.05
AZC-115 254119 2724203 211 -55 322.5 327.0 4.5 0.77 0.33 7.23
AZC-117 254277 2724177 206 -46 327.0 352.5 25.5 1.81 1.00 23.36
AZC-123 254119 2724204 210 -68 345.0 367.5 22.5 1.29 0.82 11.83
AZC-127 254171 2724180 212 -51 297.0 300.0 3.0 2.71 2.40 38.90
AZC-146 254518 2724098 208 -77 636.0 652.5 16.5 1.48 0.93 14.10
AZC-150 254328 2724112 210 -65 285.0 288.0 3.0 1.25 0.40 28.40
AZC-150 254328 2724112 210 -65 295.5 298.5 3.0 0.54 0.35 12.55
AZC-150 254328 2724112 210 -65 312.0 315.0 3.0 0.81 0.34 8.65
AZC-150 254328 2724112 210 -65 372.0 376.5 4.5 0.94 0.66 11.00
AZC-155 254223 2724181 212 -73 415.5 420.0 4.5 0.94 1.96 12.13
AZC-158 254328 2724112 208 -58 238.5 247.5 9.0 0.96 0.34 23.23
AZC-158 254328 2724112 208 -58 339.0 358.5 19.5 1.24 0.80 21.44
AZC-162 254329 2724112 211 -81 351.0 369.0 18.0 0.90 0.37 23.87
AZC-162 254329 2724112 211 -81 475.5 478.5 3.0 1.24 0.68 13.60
AZC-166 254551 2724049 209 -57 282.0 301.5 19.5 0.58 0.77 8.51
AZC-166 254551 2724049 209 -57 462.0 474.0 12.0 1.98 1.71 23.71
AZC-166 254551 2724049 209 -57 480.0 499.5 19.5 1.76 0.80 16.88
AZR-171 254384 2724045 210 -45 39.6 42.7 3.1 0.66 0.31 23.06
AZR-195 253955 2724019 220 -50 0.0 3.1 3.1 0.70 0.29 6.28
AZR-196 253965 2724039 190 -67 96.0 105.2 9.2 0.76 0.40 5.27
AZR-197 254374 2724084 212 -56 193.6 210.3 16.8 0.70 0.52 7.12
AZR-198 254551 2724050 22 -69 102.1 105.2 3.1 3.65 4.50 53.82
AZR-198 254551 2724050 22 -69 112.8 115.8 3.0 1.07 5.62 29.55
AZR-200 254542 2724082 32 -83 99.1 102.1 3.1 1.79 3.08 13.59
AZR-200 254542 2724082 32 -83 231.7 242.3 10.7 1.05 2.05 15.72
AZR-207 254327 2724066 203 -63 210.3 213.4 3.1 0.76 0.29 6.10
AZR-207 254327 2724066 203 -63 225.6 230.1 4.6 0.78 0.38 7.74
AZR-209 254330 2724072 210 -48 158.5 161.5 3.0 0.51 0.70 18.75
AZR-209 254330 2724072 210 -48 237.7 269.8 32.0 1.00 1.17 10.70
Zona CC
AZC-179 254736 2723564 96 -62 186.0 199.5 13.5 0.79 0.27 4.66
AZC-179 254736 2723564 96 -62 237.0 282.0 45.0 1.05 0.86 28.83
AZC-179 254736 2723564 96 -62 307.5 310.5 3.0 0.89 0.42 6.15
AZC-179 254736 2723564 96 -62 324.0 327.0 3.0 1.10 0.84 48.85
  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 includes the San Andres gold mine in Honduras, and the 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 commercial production in the fourth quarter 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 Map 1 please visit the following link: http://media3.marketwire.com/docs/auramap1122.pdf

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

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