Aura Silver Resources Inc.

Aura Silver Resources Inc.

February 09, 2010 11:43 ET

Aura Silver Using VTEM and Prospecting Results at Greyhound, Nu to Vector in on Drill Targets

OTTAWA, ONTARIO--(Marketwire - Feb. 9, 2010) - Aura Silver Resources Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") has completed an analysis of a recent airborne VTEM survey flown by Geotech Ltd. In the six years since its first commercial use, this large dipole-moment VTEM system has become the airborne system widely used by most of the mineral exploration community. Further, a number of exploration successes have been attributed to VTEM surveys.

The survey proved remarkably effective at detecting and resolving conductors across the banded iron formation which typifies the Greyhound geologic structure, providing drill ready targets. Over 25 targets have been identified for diamond drilling. The highest priority targets have co-incident lithogeochemical vectors and/or associated mineralized boulders, some of which are ore grade. Examples of targets include occurrences of up to 9.2% copper (Cu), 18.5% zinc (Zn), 8.2% lead (Pb), 2,700 grams per tonne (g/t) silver (Ag) with samples collected in 1998 containing values of 1,480 g/t and 3,080 g/t silver. Secondary drill targets include strong VTEM and co-incident magnetic intensity anomalies in areas that have not yet been prospected.

Aura Silver's management team believes the Company has unearthed an exceptionally underexplored classic volcanogenic massive sulphide (VMS) district as defined by geological, geochemical and geophysical data. The Greyhound property includes many geological characteristics that are similar to those in other productive VMS districts. A bimodal sequence of submarine basaltic to rhyolitic volcanic rocks is overlain by extensive multi-facies exhalite and iron formation. Lithogeochemically, sodium-depleted felsic and mafic strata have been mapped, along with local carbonatized zones with significant manganese anomalies and extensive aluminous alteration, all hallmarks of mineralized VMS systems.

The presence of manganese anomalies is highly significant to VMS discovery as they typically represent the locus of discharge zones. For instance, the deposits within the giant Bathurst, New Brunswick camp and the base metal deposits at Sturgeon Lake are all defined by manganese anomalies. "Every massive sulphide deposit in the Sturgeon Lake camp is defined by a manganese anomaly" states Dr. James Franklin, noted expert on VMS systems. Similar anomalies found at Greyhound enhance the discovery potential.

The potential at Greyhound is untapped, as there is no record of past drilling in this greenstone belt anywhere along the 26 kilometers of highly prospective exhalite that have been mapped by Aura Silver through a concerted program of airborne and ground surveys.

The diagram available at illustrates the identified targets at the Greyhound property (VTEM determined conductors illustrated by red lines as noted) which are also highly correlated with manganese and base and precious metal anomalies. Logistics for mounting a drill program are excellent. The beige line extending south to north on the attached diagram is an all-weather road which originates at Baker Lake.

Robert Boaz, President and CEO of Aura Silver stated, "We are pleased that the Greyhound property is advanced to a drill-ready stage. The VTEM survey results allow for optimized drill target selection." The Company has located a drill in Baker Lake and is applying for land use permits (LUP) in order to carry out initial drill testing during the second quarter of 2010 before spring breakup. Most of the anomalies are within two kilometers of the all-weather road to Agnico Eagle's Meadowbank Mine.

Dr. James M. Franklin, P. Geo. is Aura Silver's qualified person (as defined by National Instrument 43-101) and has reviewed and approved the scientific and technical information in this press release.

About Aura Silver

Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada and in Oaxaca, Mexico. The Company has 41,831,902 common shares outstanding.

Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada and in Oaxaca, Mexico. The Company has 41,831,902 common shares outstanding.


This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at Aura Silver does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the 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.

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