MONTREAL, QUEBEC--(Marketwired - Jan. 31, 2017) - Aurvista Gold Corporation's ("Aurvista" or the "Company") (TSX VENTURE:AVA)(OTC PINK:ARVSF)(FRANKFURT:AV2) President and CEO, Mr. Jean Lafleur is pleased to announce that Aurvista has repurchased and cancelled a 1.5% Net Smelter Returns ("NSR") Royalty interest on 32 contiguous claims from the Douay Gold Project ("Douay") from Northern Abitibi Mining Corp. ("NAMC") for a total cash consideration of C$325,000.
The repurchased NSR covered the 32 contiguous claims in the north-central quadrant of Douay currently 25% held by SOQUEM and 75% by Aurvista totaling 1,190 hectares covering the Northwest Zone due north of the Douay West Zone.
Bryan Keeler, CFO of Aurvista, stated, "There was a significant opportunity for Aurvista to repurchase the 1.5% NSR Royalty from Northern Abitibi Mining Corp. Purchasing and eliminating this royalty cleans up project ownership, improves the Douay economics and opens up opportunities in future financing. The Company is continuing with other efforts to simplify the Douay title."
Douay Gold Project and Company Profile
Aurvista Gold Corporation is a junior gold exploration and development Company with 131,162,407 shares outstanding trading on the TSX Venture Exchange in Canada, the Frankfurt Stock Exchange and OTC Pink Sheets in the US. Aurvista's only asset is the Douay Gold Project, consisting of a 100% owned interest in 250 contiguous claims totaling 133.1 km2, plus a 90% interest in 5 contiguous claims totaling 0.2 km2 and a 75% interest (25% held by SOQUEM) in 32 contiguous claims totaling 11.9 km2. In total there are 287 claims covering 145.3 km2 located along a 20 km segment of the Casa Berardi Deformation Zone in the prolific Abitibi Belt of northern Quebec. Douay is located 40 km SW of the Matagami Zinc Base Metal Camp and 150 km N of the Val-d'Or-Malartic gold Camp (both in Quebec).
In August, 2012, Aurvista updated the Mineral Resources estimates that included 657 holes in more than 185,000 metres drilled on Douay since its discovery to the end of March 2012. Douay contains base case Mineral Resources of 2.7 million tonnes of Indicated Resources at 2.76 g/t gold for 238,000 ounces above a 0.3 g/t gold cut-off grade. Under a sensitivity analysis cut-off grade of 0.5 g/t gold, the Indicated Resources total 2.5 million tonnes grading 2.98 g/t gold for 235,500 ounces. There were additional base case Inferred Resources of 115 million tonnes at 0.75 g/t gold for 2.75 million ounces above a 0.3 g/t gold cut-off grade. Under a sensitivity analysis cut-off grade of 0.5 g/t gold, the Inferred Resources total 62 million tonnes grading 1.06 g/t gold for 2.1 million ounces. Details can be viewed on the Company's website at www.aurvistagold.com.
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 PRESS RELEASE.
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corporation's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistaGold.com.