Aurvista Gold Corporation
TSX VENTURE : AVA

Aurvista Gold Corporation

April 04, 2012 09:00 ET

Aurvista Demonstrates Continuity of Douay Gold Porphyry

MONTREAL, QUEBEC--(Marketwire - April 4, 2012) -

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Aurvista Gold Corp. ("Aurvista" or the "Corporation") (TSX VENTURE:AVA) is pleased to announce the latest drilling results (refer to Table 1 below) from the recently completed winter drill program conducted on the Porphyry Zone at its wholly-owned Douay Gold Project ("the Project").

The drill results are confirming grade and distribution of gold mineralization along a 3,300 metre strike length of the Porphyry Zone, to vertical depths of 300 to 400 metres. The Porphyry Zone remains open to the East, West and at depth.

Table 1: Significant Intercepts in the Centre Portion of the Porphyry Zone
(listed from West to East)
Drill Hole # From
(m)
To
(m)
True Width
(m)
Grade
Au (g/t)
DO-12-90 147.0 289.0 142.0 0.71
incl. 207.0 288.0 81.0 1.01
DO-12-91 331.0 489.0 158.0 0.35
incl. 406.0 488.0 82.0 0.49
DO-12-86 200.0 266.0 66.0 0.80
incl. 240.0 259.0 19.0 1.72
Note: All holes drilled at a dip of 50 to 57 degrees. Intersections are presented in true width drilled perpendicular to the mineralized zone.

The Porphyry Zone hosts (at a cut-off of 0.7 g/t Au) an Inferred Resource of 1.1 million ounces of gold (31.7 million tonnes at 1.1 g/t gold; SGS 43-101 Technical Report dated March 15, 2011). This resource estimate, calculated prior to the step-out drill results announced on March 28, 2012 (refer to the news release titled Aurvista Gold Corp. Extends Gold Prophyry Zone an Additional 750 Metres to the East), was based upon a strike length for the Porphyry Zone of approximately 2.5 kilometres.

"We are pleased with these drill results." said Rick Adams, President and CEO of Aurvista. "The results demonstrate the continuity and size potential of the mineralized system, and highlight the bulk tonnage potential of the Porphyry Zone."

The Company has completed its 2011/2012 winter drill program. This program included 35 diamond drill holes totaling 12,529 meters. Assay results are pending for 3 holes. Results for these holes will be released once they have been received and interpreted.

Aurvista intends on issuing a revised NI 43-101 Technical Report (with updated mineral resources estimate) at the end of the second quarter of 2012. This updated resource estimate will include both the results from the 2011/2012 winter drilling program noted above (35 diamond drill holes totaling 12,529 meters) and the results from the 2010/2011 drill program completed by Aurvista (54 diamond drill holes totaling 21,316 metres). In addition, the revised Technical Report will use a lower cut-off grade competitive with neighbouring mineral deposits.

Based on this revised Technical Report the Company will devise and plan its 2012/2013 drilling program which, at this time, is anticipated to include testing possible extensions of the Porphyry Zone to the East, West and at depth.

Qualified Person

Jean Lafleur, P. Geo., Aurvista's VP Exploration, is the Qualified Person responsible for technical content of this release.

Quality Assurance

Aurvista implements an Analytical Quality Assurance Program to control the analytical quality of assays in its exploration work. This program includes the systematic addition of blank samples and certified standards to each batch of samples sent for analysis at commercial laboratories. Blank samples are used to check for possible contamination in laboratories while certified standards determine the analytical accuracy and precision. Samples have been assayed at the Laboratoire Expert Inc. in Rouyn-Noranda and at ALS Chemex Inc. in Val-d'Or. Samples are assayed by fire-assay (30 grams) followed by atomic absorption according to industry standards. Repeats are completed by fire-assay followed by gravimetry on selected samples.

About Aurvista

Aurvista Gold Corporation is a junior gold exploration and development company. Aurvista's principal asset is the wholly-owned Douay Gold Project, consisting of 218 contiguous claims totaling approximately 114 km2 located on the Casa Berardi Fault containing a NI 43-101 compliant Mineral Resource of 42.6 million tonnes at 1.29 g/t gold (1.8 million ounces of gold) in the Inferred category and 905,000 tonnes at 1.7 g/t gold (49,000 ounces of gold) in the Measured and Indicated category, at a cut-off of 0.7 g/t gold. In addition to this Resource, the Douay West deposit hosts Measured and Indicated Mineral Resources of 313,000 tonnes at 7.75 g/t gold (77,992 ounces of gold) and an Inferred Resource of 267,000 tonnes at 8.53 g/t gold (73,187 ounces of gold), at a cut-off of 4.0 g/t gold.

Details of Aurvista's Douay Project can be viewed at the Company's website at www.aurvistagold.com.

READER ADVISORY

Statements in this press release may contain forward-looking information including, but not limited to, statements with respect to the Company's proposed drill programs. In addition, information concerning the interpretation of drill results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including but not limited to, the ability of the Corporation to raise sufficient capital to pay the exploration and development costs on the properties, the availability of skilled labour, availability of equipment, and future capital and operating costs. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, the risks of capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, commodity price and exchange rate fluctuations, the uncertainty of estimates and projections relating to production, health, safety and environmental risks, delays in the development of projects, uncertainties relating to the interpretation of the geology, unanticipated operational or technical difficulties and other factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

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Contact Information

  • Aurvista Gold Corp.
    Richard Adams
    President and CEO
    (416) 504-3588
    (416) 504-4129 (FAX)
    www.aurvistagold.com