AuRico Gold Provides an Update on the 2012 El Chanate Exploration Program
TORONTO, October 22, 2012 /PRNewswire/ --
AuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), ("AuRico" or "the Company") is pleased to provide an update on its exploration program at the El Chanate mine located in Sonora, Mexico.
The 2012 exploration program has identified two new discoveries that are directly on trend of the open pit as well as the extension of the previously identified North West zone located approximately 50 metres northwest of the open pit. The newly discovered Rono zone is approximately 600 metres northwest of the open pit and the Loma Prieta zone is approximately 1.2 kilometres southeast from the ultimate pit boundary.
El Chanate Mine (looking south):http://files.newswire.ca/975/Figure1ElChanate.pdf
One diamond drill and one reverse circulation drill have been operating on the property since the second quarter of the year with 13 core holes (4,966 metres) and 103 reverse circulation holes (19,605 metres) having been completed to date. At the North West zone, five drill holes, over a 300 metre strike length, intersected intervals of 6 to 27 metres down hole with grades comparable to material currently being mined in the main open pit (reserve grade 0.65 g/t Au and resource grade of 0.42 g/t Au) as shown in the table below. Given that the boundary of this zone is within 50 metres of the ultimate El Chanate open pit outline, there is a high probability that additional drilling could upgrade confidence in the mineralization and convert it into mineral resources.
Drilling Highlights
Hole ID From (m) To (m) Length (m) Grade Au g/t
North West Zone
CHCI-731 183.0 192.0 9.0 0.31
210.0 217.5 7.5 0.26
CHCI-732 55.5 82.5 27.0 0.45
CHCI-733 24.0 34.5 10.5 0.91
CHCI-734 133.5 141.0 7.5 1.51
CHCI-735 97.5 103.5 6.0 2.07
CHCI-749 7.5 21.0 13.5 0.19
Rono
CHCI-740 76.5 135.0 58.5 0.27
CHCI-741 114.0 166.5 52.5 0.34
Loma Prieta
CHCI-705 46.5 54.0 7.5 0.92
CHCI-716 52.5 64.5 12.0 8.35
CHCI-717 58.5 66.0 7.5 3.60
88.5 93.0 4.5 6.52
CHCI-725 61.5 75.0 13.5 1.70
CHCI-727 48.0 54.0 6.0 4.52
CHCI-747 64.5 70.5 6.0 2.10
The Rono discovery is in the area of an historic working, six hundred metres northwest of the El Chanate ultimate pit outline. Hole CHCI-741 intersected 52.5 metres of 0.34 g/t gold including 24 metres of 0.49 g/t gold and 12 metres of 0.37 g/t gold. A second hole CHCI 740,120 metres along strike, intersected 0.27 g/t gold over 58.5 metres. This zone is open along strike in both directions.
"Rono" Area RC Holes Location: http://files.newswire.ca/975/Figure2Rono.pdf
A third zone of mineralization ("Loma Prieta") has been discovered approximately 1.2 kilometers southeast of the ultimate pit. Six holes (CHCI-705, 716, 717, 725, 727 and 747) intersected mineralization at less than 70 metres depth. The zone is somewhat atypical of El Chanate mineralization in that there is a higher grade portion, on occasion in excess of 10 g/t gold, rather than a broad zone of disseminated mineralization. Although the size of this zone is limited by drilling to the northwest and volcanic rocks immediately to the southeast, the discovery is encouraging in that the trend of this mineralization is the same as that of the main El Chanate deposit and is untested for three and a half kilometres along trend on the El Chanate concessions.
"Loma Prieta" Area RC Holes Location: http://files.newswire.ca/975/Figure3LomaPrieta.pdf
Chris Rockingham, V.P. Exploration commented "This is the first time that AuRico's exploration program at El Chanate has focused on understanding the potential for extending the open pit mineralization beyond the existing ore body. The new discoveries at El Chanate are directly on trend from the open pit and represent a strong indication of potential resource growth. This year's exploration program and the success based plan proposed for next year, will continue to focus on follow-up drilling in these areas and beyond, to further evaluate the significant exploration potential at El Chanate."
Quality Control - Analyses and Sample Location
Details of quality assurance/quality control procedures for sample analysis and drill hole survey methodology are reported in detail in the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Reports filed on SEDAR (http://www.sedar.com) on November 27, 2009 for El Chanate. Gold analyses for the project were performed by an independent, accredited commercial laboratory using standard fire assay procedures with an AA finish. The Company maintains a Quality Assurance - Quality Control program including the insertion of commercial control reference pulps and blanks in all its drill programs, along with a dedicated QA-QC person to monitor results. Sample lengths are not necessarily true widths.
Qualified Persons
The program design, implementation, quality assurance/quality control and interpretation of the results are under the control of AuRico's geological staff, which includes a number of individuals who are qualified persons as defined under NI 43-101. Christopher Rockingham, P. Geol., V.P. Exploration, is the qualified person responsible for the overall supervision of the program at El Chanate and has reviewed and approved the content of this news release.
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with a diversified portfolio of high quality mines and projects in North America that have significant production growth and exploration potential. Following the divestiture of Ocampo, the Company will be focused on its core operations including the Young-Davidson gold mine in northern Ontario which declared commercial production on September 1st, 2012 and the El Chanate mine in Sonora State.
AuRico's strong project pipeline also includes advanced development opportunities in Mexico and British Columbia. AuRico's head office is located in Toronto, Ontario, Canada.
Cautionary Statement
Certain information included in this news release constitutes forward-looking statements, including any information as to our projects, plans and future financial and operating performance. All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.
Such factors include, but are not limited to: changes to current estimates of mineral reserves and resources; fluctuations in the price of gold and silver; changes in foreign exchange rates (particularly the Canadian dollar, Mexican peso and U.S. dollar); the impact of inflation; changes in our credit rating; employee relations; litigation; disruptions affecting operations; availability of and increased costs associated with mining inputs and labor; development delays at the Young-Davidson mine; technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities; inherent risks associated with mining and mineral processing; the risk that the Young-Davidson, El Chanate and Ocampo mines and may not perform as planned; the ability to realize the perceived benefits from the acquisition of Capital Gold and Northgate and from the divestiture of the Stawell, Fosterville and El Cubo mines; uncertainty with the Company's ability to secure capital to execute its business plans; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title to properties; changes in national and local government legislation in Canada, Mexico and other jurisdictions in which the company does or may carry on business in the future; risk of loss due to sabotage and civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; business opportunities that may be pursued by, the company; and the ability of the company to successfully integrate acquisitions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this second quarter report are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Table of Assays
Hole ID From (m) To (m) Length (m) Grade Au g/t
CHCI-655 92.96 105.16 12.20 1.00
CHCI-657 208.79 222.50 13.71 0.39
CHCI-658 50.29 65.53 15.24 0.23
112.78 128.02 15.24 0.30
CHCI-659 105.16 111.25 6.09 0.45
143.26 166.12 22.86 0.42
202.69 220.98 18.29 0.62
CHCI-660 201.17 220.98 19.81 0.26
CHCI-661 76.20 106.68 30.48 0.73
CHCI-662 129.54 169.16 39.62 0.60
CHCI-663 35.05 53.34 18.29 0.27
62.48 68.58 6.10 1.08
106.68 121.92 15.24 0.43
CHCI-664 143.26 152.40 9.14 0.35
CHCI-665 77.72 85.34 7.62 0.43
143.26 163.06 19.80 0.76
170.69 187.45 16.76 1.57
CHCI-666 99.06 109.73 10.67 0.63
249.94 271.27 21.33 0.36
CHCI-667 103.63 124.97 21.34 0.30
161.54 187.45 25.91 0.22
208.79 237.74 28.95 0.26
CHCI-668 25.91 88.39 62.48 0.63
CHCI-669 51.82 57.91 6.09 0.51
65.53 89.92 24.39 0.57
128.02 143.26 15.24 0.54
CHCI-670 4.57 86.87 82.30 0.82
CHCI-671 140.21 153.92 13.71 0.30
163.07 187.45 24.38 0.76
195.07 207.26 12.19 1.26
CHCI-672 0.00 16.76 16.76 1.82
CHCI-673 13.72 24.38 10.66 0.42
167.64 202.69 35.05 0.22
CHCI-674 94.49 103.63 9.14 0.53
CHCI-676 56.39 67.06 10.67 1.06
91.44 115.82 24.38 0.73
CHCI-678 54.86 100.58 45.72 0.66
CHCI-681 152.40 170.69 18.29 0.30
CHCI-682 19.81 128.02 108.21 0.39
140.21 147.83 7.62 0.82
176.78 193.55 16.77 0.38
CHCI-683 143.26 173.74 30.48 3.74
CHCI-684 24.38 91.44 67.06 0.58
CHCI-685 9.14 48.77 39.63 0.35
CHCI-686 73.15 105.16 32.01 0.62
179.83 210.31 30.48 0.60
CHCI-687 1.52 30.48 28.96 0.72
70.10 94.49 24.39 0.49
CHCI-688 0.00 28.96 28.96 0.46
CHCI-689 3.05 13.72 10.67 0.69
28.96 36.58 7.62 0.30
48.77 56.39 7.62 1.10
67.06 85.34 18.28 0.56
124.97 137.16 12.19 0.33
CHCI-690 4.57 64.01 59.44 1.37
CHCI-691 36.58 42.67 6.09 0.39
50.29 109.73 59.44 0.55
CHCI-692 79.25 120.40 41.15 1.51
CHCI-693 138.68 170.69 32.01 0.37
179.83 190.50 10.67 0.33
242.32 252.98 10.66 0.31
265.18 278.89 13.71 0.32
CHCI-694 131.06 147.83 16.77 0.59
CHCI-695 0.00 16.76 16.76 0.51
21.34 96.01 74.67 0.26
134.11 173.74 39.63 0.23
CHCI-696 268.22 283.46 15.24 0.69
295.66 332.23 36.57 0.27
CHCI-697 4.57 44.20 39.63 0.37
51.82 57.91 6.09 0.71
64.01 100.58 36.57 0.69
161.54 179.83 18.29 0.32
CHCI-701 142.50 151.50 9.00 0.72
CHCI-702 39.00 43.50 4.50 2.36
CHCI-705 46.50 54.00 7.50 0.92
CHCI-714 67.50 75.00 7.50 0.45
CHCI-716 52.50 64.50 12.00 8.35
CHCI-717 58.50 66.00 7.50 3.60
88.50 93.00 4.50 6.52
CHCI-719 22.50 54.00 31.50 1.69
CHCI-720 3.00 7.50 4.50 1.89
73.50 90.00 16.50 5.96
157.50 180.00 22.50 0.83
CHCI-725 61.50 75.00 13.50 1.70
CHCI-727 48.00 54.00 6.00 4.52
CHCI-730 99.00 105.00 6.00 1.21
CHCI-731 183.00 192.00 9.00 0.31
210.00 217.50 7.50 0.26
CHCI-732 55.50 82.50 27.00 0.45
CHCI-733 24.00 34.50 10.50 0.91
CHCI-734 133.50 141.00 7.50 1.51
CHCI-735 97.50 103.50 6.00 2.07
CHCI-740 76.50 135.00 58.50 0.27
CHCI-741 114.00 166.50 52.50 0.34
CHCI-744 75.00 79.50 4.50 1.06
CHCI-747 64.50 70.50 6.00 2.10
CHCI-749 7.50 21.00 13.50 0.19
CHCI-750 ASSAYS PENDING
CHCI-751
CHCI-752
CHCI-753
CHCI-754
CHCI-755
CHCI-756
CHCI-757
CHCI-758
Holes not included in this table have no significant assay values
Table of Drill Collar Coordinates
HID EAST NORTH ELEVATION AZ DIP DEPTH SECTION
CHCI-655 412104.70 3407769.79 419.11 33 -75 249.94 30
CHCI-657 412791.05 3407379.35 504.08 0 -90 291.08 4
CHCI-658 411965.15 3407777.26 419.39 33 -65 181.36 34
CHCI-659 412592.23 3407470.43 496.58 0 -90 300.23 11
CHCI-660 412261.64 3407562.71 479.52 33 -80 281.94 22
CHCI-661 412659.07 3407561.58 473.16 33 -65 160.02 11
CHCI-662 412632.81 3407471.54 497.804 33 -65 323.09 10
CHCI-663 411906.808 3407848.32 412.04 0 -90 288.04 37
CHCI-664 411967.009 3407656.52 453.403 0 -90 367.28 32
CHCI-665 412829.221 3407481.45 494.367 33 -65 252.98 5
CHCI-666 412553.986 3407415.59 504.488 0 -90 367.28 11
CHCI-667 411900.086 3407668.9 461.182 33 -70 257.56 34
CHCI-668 412208.103 3407768.321 420.958 33 -55 129.54 27
CHCI-669 412223.013 3407724.076 427.776 33 -70 196.60 26
CHCI-670 412029.106 3407868.153 412.926 0 -90 135.64 34
CHCI-671 412241.524 3407657.106 468.544 33 -60 243.84 24
CHCI-672 412334.789 3407800.782 413.084 0 -90 120.40 24
CHCI-673 411914.311 3407723.030 425.995 0 -90 263.65 35
CHCI-674 412487.627 3407632.511 467.138 33 -70 199.64 17
CHCI-675 411177.324 3407783.901 483.152 33 -60 367.28 56
CHCI-676 412398.010 3407660.704 466.868 33 -60 187.45 20
CHCI-677 412978.078 3407711.373 511.337 213 -60 129.54 5
CHCI-678 412783.439 3407554.184 479.049 0 -90 176.78 7
CHCI-679 411002.022 3407887.763 495.899 33 -60 330.71 63
CHCI-680 412846.408 3407598.037 475.600 0 -90 121.92 6
CHCI-681 412660.851 3407406.366 497.051 33 -70 300.23 8
CHCI-682 412052.143 3407730.595 419.309 0 -90 278.89 31
CHCI-683 412848.205 3407419.488 506.827 0 -90 355.09 3
CHCI-684 412181.131 3407815.557 413.428 0 -90 156.97 29
CHCI-685 412148.546 3407833.132 413.403 33 -55 120.40 30
CHCI-686 412057.866 3407795.597 413.751 0 -90 210.31 32
CHCI-687 411972.645 3407842.266 413.163 33 -60 141.73 35
CHCI-688 412120.567 3407890.438 413.776 0 -90 120.40 32
CHCI-689 411949.136 3407848.818 413.225 33 -65 169.16 36
CHCI-690 412922.862 3407538.217 485.219 33 -55 120.40 3
CHCI-691 412262.761 3407735.984 425.564 33 -60 169.16 25
CHCI-692 412928.640 3407489.003 491.432 33 -60 120.40 2
CHCI-693 411794.572 3407720.849 471.346 0 -90 352.04 38
CHCI-694 412666.345 3407475.055 490.651 0 -90 303.28 9
CHCI-695 411936.743 3407766.147 419.625 0 -90 249.94 35
CHCI-696 412465.850 3407379.035 498.154 33 -75 373.38 13
CHCI-697 411886.586 3407762.556 419.419 0 -90 263.65 36
CHCI-698 411737.59 3407690.57 483.915 33 -75 324.61 29
CHCI-699 413448.59 3407363.44 505.767 20 -60 120.0 65
CHCI-700 413356.40 3407283.00 502.318 20 -60 219.0 68
CHCI-701 413424.823 3407216.27 502.25 0 -90 178.5 64
CHCI-702 413546.237 3407269.76 505.957 20 -60 156.0 60
CHCI-703 413551.067 3407200.16 503.99 0 -90 237.0 59
CHCI-704 413698.071 3407176.21 502.041 20 -60 175.5 54
CHCI-705 413857.404 3407082.76 497.755 20 -60 222.0 48
CHCI-706 413390.468 3407523.05 507.242 0 -90 291.0 69
CHCI-707 413596.195 3407951.17 526.755 0 -90 189.0 67
CHCI-708 413836.963 3407731.36 539.176 0 -90 288.0 56
CHCI-709 413825.574 3407351.98 503.961 0 -90 300.0 52
CHCI-710 414193.757 3407399.04 519.873 0 -90 228.0 40
CHCI-711 413513.557 3407276.75 504.171 20 -60 81.0 63
CHCI-712 413497.838 3407226.77 504.027 20 -60 150.0 63
CHCI-713 413444.276 3407247.83 503.352 20 -60 150.0 65
CHCI-714 413426.826 3407372.89 505.506 20 -60 102.0 67
CHCI-715 413833.615 3407092.43 497.752 20 -60 60.0 51
CHCI-716 413890.404 3407071.31 497.286 20 -60 102.0 49
CHCI-717 413845.793 3407045.39 496.407 20 -65 102.0 50
CHCI-718 413289.967 3407449.86 503.037 20 -60 70.5 72
CHCI-719 413191.463 3407504.63 486.475 20 -55 120.0 76
CHCI-720 413019.414 3407469.25 479.336 20 -65 180.0 81
CHCI-721 411156.131 3407043.45 479.642 0 -90 159.0 44
CHCI-722 411438.132 3406889.97 466.382 0 -90 183.0 33
CHCI-723 410827.753 3406784.11 497.273 0 -90 177.0 48
CHCI-724 411287.467 3406536.34 466.324 0 -90 172.5 31
CHCI-725 413877.387 3407042.43 496.211 20 -60 120.0 49
CHCI-726 413915.919 3407061.05 497.415 20 -60 90.0 48
CHCI-727 413901.317 3407100.09 498.078 20 -60 66.0 49
CHCI-728 414115.349 3407074.23 510.797 20 -60 162.0 42
CHCI-729 413784.583 3407104.56 496.884 20 -60 102.0 53
CHCI-730 413385.125 3407346.46 503.684 20 -60 141.0 68
CHCI-731 411623.904 3408056.34 488.428 33 -70 222.0 49
CHCI-732 411591.678 3408190.88 489.226 33 -60 132.0 52
CHCI-733 411554.285 3408293.94 490.987 33 -60 102.0 55
CHCI-734 411515.265 3408109.31 485.134 33 -60 213.0 53
CHCI-735 411457.555 3408244.72 491.623 33 -60 159.0 57
CHCI-736 411397.399 3408267 501.342 33 -60 171.0 59
CHCI-737 411289.831 3408374.21 495.588 33 -60 177.0 64
CHCI-738 411336.713 3408342.97 497.373 33 -60 168.0 62
CHCI-739 411291.573 3408425.58 494.807 33 -50 192.0 65
CHCI-740 411259.628 3408276.45 493.261 33 -60 186.0 63
CHCI-741 411161.831 3408351.31 486.697 33 -60 195.0 67
CHCI-742 411289.686 3408045.05 480.215 33 -90 201.0 58
CHCI-743 414023.799 3407006.4 519.238 20 -60 141.0 44
CHCI-744 413961.471 3407012.55 507.525 20 -60 159.0 46
CHCI-745 413888.855 3406990.81 497.737 20 -60 150.0 48
CHCI-746 413823.1 3406983.26 493.577 20 -65 201.0 50
CHCI-747 413818.184 3407051.74 496.11 20 -65 120.0 51
CHCI-748 413522.356 3407204.83 503.726 20 -60 126.0 64
CHCI-749 411656.073 3408174.51 492.183 33 -45 120.0 50
CHCI-750 411621.74 3408169.96 491.196 33 -60 153.0 51
CHCI-751 411636.558 3408245.15 489.834 33 -60 111.0 52
CHCI-752 411565.683 3408198.56 487.246 33 -60 150.0 53
CHCI-753 411576.002 3408265.31 491.335 33 -60 114.0 54
CHCI-754 411515.753 3408274.04 488.935 33 -60 111.0 56
CHCI-755 411519.301 3408232.67 487.292 33 -60 150.0 55
CHCI-756 411493.554 3408305.69 490.43 33 -60 132.0 57
CHCI-757 411201.264 3408412.11 490.422 33 -60 174.0 67
CHCI-758 411185.642 3408337.02 488.962 33 -60 228.0 66
PDF available at: http://stream1.newswire.ca/media/2012/10/22/20121022_C8833_DOC_EN_19606.pdf
PDF available at: http://stream1.newswire.ca/media/2012/10/22/20121022_C8833_DOC_EN_19607.pdf
PDF available at: http://stream1.newswire.ca/media/2012/10/22/20121022_C8833_DOC_EN_19608.pdf
For further information please visit the AuRico Gold website at http://www.auricogold.com or contact:
Chris Rockingham
Vice President, Exploration and Business Development
AuRico Gold Inc.
1-647-260-8880
Anne Day
Vice President, Investor Relations and Communications
AuRico Gold Inc.
1-647-260-8880
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