Aura Minerals Inc.
TSX : ORA

Aura Minerals Inc.

October 12, 2010 01:23 ET

Aura Minerals Releases Second Set of Results from the Phase 1 Deep Drilling Program for the Aranzazu Copper-Gold-Silver Project in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2010) - Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is pleased to release the second set of drill results from the Phase 1 deep drilling program at its wholly-owned copper-gold-silver Aranzazu Project in Zacatecas State, Mexico. To date, four drill holes have been previously released (see News Release No. 2010-15 dated August 5, 2010) as part of this program.

The deep drilling program at the Aranzazu Project is designed to target the vertical extent of known copper-gold ore shoots beneath the currently defined resource as part of an ongoing program aimed at developing a large bulk tonnage underground operation at the Aranzazu Project. Holes AZC-123, AZC-131, AZC-145, AZC-146, AZC-155 and AZC-158 were located to continue to test the depth and on-strike continuity of the "Glory Hole-Tiro Azules" zone. The results are very encouraging, with all holes intersecting mineralization at depths ranging from 75 metres to 200 metres below the deepest intercepts from previous drilling.

Highlights from the deep drilling are as follows (see Table 1 and Map 1):

  • 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-131 which returned 13.5 metres of 2.23% Cu, 1.07 g/t Au and 22.42 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; and
  • Hole AZC-158 which returned 18.0 metres of 1.31% Cu, 0.84 g/t Au and 22.78 g/t Ag.

The drilling has now confirmed the down dip extension of the Tiro Azules zone down to depths of 600 metres below surface. It should also be noted that Hole AZC-179, which was drilling down to a depth of 928 metres, was abandoned after it was stuck in very altered porphyry. The hole had intercepted porphyry over significant intervals down hole with favorable alteration which is indicative of proximity to the mineralized foot wall zone. The Company now plans to drill this deep target from another location, possibly from the hanging wall side across the targeted zones of mineralization. 

Commenting on the above, Mr. Patrick Downey, President and CEO of Aura Minerals, stated, "These second set of results from the deep drill program at the Aranzazu Project continue to demonstrate the down dip and along strike continuity of the Glory Hole-Tiro Azules zone. The depth potential of the project is now evident with grade and widths comparable to those within the recently issued resource, which lends confidence to our belief that we will be able to expand the overall operation. Although we had to abandon Hole AZC-179 at a depth of 928 metres, we are very encouraged that the alteration system is exactly what we expect near the hanging wall zone and anticipate intercepting this zone at that depth when we drill from another location. Two rigs are now dedicated to the deep drill program and we will continue to systematically drill at depth along the strike of the existing deposit to provide further confidence in the grade and continuity of the down dip extensions of the deposit."

The Company has also received results for an additional 60 drill holes as part of an infill and extension drilling program within the existing resource envelope. These results will be released once all QA/QC checks are complete, which is expected later this week.

Table 1 – Aranzazu Deep Drill Program Assays (see Map 1 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-123 254051 2724086 210 -68 345.0 367.5 22.5 1.29 0.82 11.83
AZC-131 254213 2724064 210 -74 462.0 475.5 13.5 2.23 1.07 22.42
AZC-145 254084 2724142 210 -80 394.5 399.0 4.5 0.82 3.61 93.43
AZC-145 254082 2724139 210 -80 414.0 418.5 4.5 0.74 0.61 10.23
AZC-146 254445 2723967 210 -77 636.0 652.5 16.5 1.48 0.93 14.10
AZC-155 254161 2724074 210 -74 415.5 420.0 4.5 0.94 1.96 12.13
AZC-158 254265 2724004 210 -58 238.5 247.5 9.0 0.96 0.34 23.23
AZC-158 254236 2723955 210 -58 340.5 358.5 18.0 1.31 0.84 22.78
   
 (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 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 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 Sao Francisco and Sao Vicente gold mines in Brazil. The Company is also developing the copper-gold-silver Aranzazu Project in Zacatecas State, 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 press release, please visit: http://media3.marketwire.com/docs/ora-map.pdf.

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

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