21:01:32 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



AuRico Gold Inc
Symbol AUQ
Shares Issued 247,102,445
Close 2013-09-11 C$ 4.08
Market Cap C$ 1,008,177,976
Recent Sedar Documents

ORIGINAL: AuRico Gold Provides an Update on the 2013 El Chanate Exploration Program

2013-09-12 08:45 ET - News Release

TORONTO, Sept. 12, 2013 /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 objective of the 2013 program is to further delineate mineralization within the existing open pit and expand the known mineralization along the Chanate trend in order to potentially convert this mineralization into mineral resources.

El Chanate Exploration Program


Since May, two reverse circulation drills have completed 80 holes (19,175 metres) to date within the current open pit and in the three target areas located along trend of the open pit (Rono, North West Extension and Loma Prieta) (Figure 1).

The drilling program within the current open pit has intersected a new type of mineralization below the ultimate open pit floor, which is significantly higher in grade than the current reserve grade and is hosted within a strongly silicified siltstone adjacent to a fault structure. Drilling highlights include:

Hole IDFrom  (m)To  (m)Length (m)1Grade Au g/t
CHCI-775 160.5 214.5 54.0 2.56
CHCI-776 126.0 174.0 48.0 2.90
CHCI-799 246.0 252.0 6.0 7.60
CHCI-836 246.0 270.0 24.0 2.70
    1. Not true width

Outside the open pit, the drilling program is focused on three targeted areas along the Chanate Fault:

  • The North West Extension area, located 50 metres northwest of the ultimate open pit design (Figure 2), where 24 of 26 holes intersected grades that are equal to, or exceed, current cut-off grades;
  • The Rono target area, located 600 metres northwest of the ultimate open pit design (Figure 3), where 19 of 23 holes drilled in 2012 and 2013 intersected a broad zone of gold mineralization with grades that are equal to, or exceed, current cut-off grades; and
  • The Loma Prieta target area, located 1.2 kilometres southeast of the ultimate open pit (Figure 4), where 11 of 18 holes have intersected a quartz vein structure with grades that are equal to, or exceed, current cut-off grades.

Drilling highlights include:

Hole IDFrom  (m)To  (m)Length (m)1Grade Au g/tTarget
CHCI-769 186.0 223.5 37.5 0.94 NW Extension
CHCI-800 169.5 198.0 28.5 0.67 NW Extension
CHCI-760 174.0 192.0 18.0 0.88 Rono
CHCI-761 67.5 109.5 42.0 0.50 Rono
CHCI-766 130.5 181.5 51.0 0.33 Rono
CHCI-821 171.0 178.5 7.5 0.74 Rono
207.0 226.5 19.5 0.93 Rono
CHCI-815 60.0 79.5 19.5 0.78 Loma Prieta
CHCI-817 76.5 85.5 9.0 1.37 Loma Prieta
CHCI-818 79.5 88.5 9.0 0.58 Loma Prieta
CHCI-829 73.5 79.5 6.0 1.18 Loma Prieta
    1. Not true width


El Chanate Expanded Land Package


On June 28th AuRico completed an Option/Joint Venture agreement with Highvista Gold to explore approximately 11,600 hectares of claims located to the northwest of the open pit that provides access to an additional 15-20 km of the El Chanate Fault (Figure 5). The agreement grants AuRico the option to earn a 51% undivided interest in the El Chanate Extension by incurring an aggregate of $3 million in exploration expenditures over the next three years. The Company can earn a further 19% interest in the joint venture (bringing its aggregate interest to 70%) by funding the preparation of a feasibility or prefeasibility study on the property.

"The 2013 exploration program continues to report encouraging results from both the in-pit drilling program where intercepts reported grades significantly higher than reserve grades, as well as from the target areas that lie along the Chanate fault where the majority of holes were higher than current cut-off grades," stated Chris Rockingham, V.P. Exploration. He continued, "The results to date provide additional confidence in the potential for resource growth and mine life extension 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 the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") compliant Technical Reports filed on SEDAR (www.sedar.com) on November 27, 2009 for El Chanate. Gold analyses for the project were performed by an 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 certified reference materials (CRM's) and blanks in all its assay programs. 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 responsible for the overall supervision of the program at El Chanate.

About AuRico Gold

AuRico Gold is a leading Canadian gold producer with mines and projects in North America that have solid production growth and exploration potential. The Company is focused on its core operations including the Young-Davidson gold mine in northern Ontario and the El Chanate mine in Sonora State, Mexico. AuRico's project pipeline also includes development opportunities in Canada and Mexico. AuRico's head office is located in Toronto, Ontario, Canada.

Cautionary Statement

This press release contains forward-looking statements and forward-looking information as defined under Canadian and U.S. securities laws.  All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget" and similar expressions identify forward-looking statements. Forward-looking statements include information as to strategy, plans or future financial or operating performance, such as the Company's expansion plans, project timelines, production plans, projected cash flows or capital expenditures, cost estimates, projected exploration results, reserve and resource estimates and other statements that express management's expectations or estimates of future performance.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant 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: uncertainty of production and cost estimates; fluctuations in the price of gold and foreign exchange rates; the uncertainty of replacing depleted reserves; the risk that the Young-Davidson and El Chanate mine may not perform as planned; the risk that projects will not be developed accordingly to established budgets or timelines; changes in laws or regulations in Canada, Mexico and other jurisdictions in which the Company may carry on business; risks of obtaining necessary licenses, permits, authorizations or approvals for operations or projects such as Kemess; contests over title to properties; the speculative nature of mineral exploration and development; risks related to aboriginal title claims; compliance risks with respect to current and future environmental regulations; disruptions affecting operations; opportunities that may be pursued by the Company; employee relations; availability and costs of mining inputs and labor; the ability to secure capital to execute business plans; volatility of the Company's share price; any decision to declare dividends; the implementation and continued availability of the dividend reinvestment plan; the effect of future financings; litigation; risk of loss due to sabotage and civil disturbances; the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; risks arising from the absence of hedging; adequacy of internal control over financial reporting; changes in our credit rating; and the impact of inflation.

Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Such statements are based on a number of assumptions which may prove to be incorrect, including assumptions about: business and economic conditions; commodity prices and the price of key inputs such as labour, fuel and electricity; credit market conditions and conditions in financial markets generally; revenue and cash flow estimates, production levels, development schedules and the associated costs; our ability to procure equipment and supplies in sufficient quantities and on a timely basis; the timing of the receipt of permits and other approvals for our projects and operations; our ability to attract and retain skilled employees and contractors for our operations; the accuracy of our reserve and resource estimates; the impact of changes in currency exchange rates on our costs and results; interest rates; taxation; and our ongoing relations with our employees and business partners.

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.

Cautionary Note to U.S. Investors Concerning Measured, Indicated and Inferred Resources

This press release uses the terms "measured," "indicated" and "inferred" resources.  We advise investors that while those terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them.  "Inferred" resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category.  Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

Hole IDFrom (m)To (m)Interval(m)Grade Au g/tTarget
CHCI-759 No significant values RONO
CHCI-760 174.0 192.0 18.0 0.88 RONO
CHCI-761 67.5 109.5 42.0 0.50 RONO
CHCI-762 154.5 177.0 22.5 0.38 RONO
CHCI-763 No significant values RONO
CHCI-764 No significant values RONO
CHCI-765 67.5 127.5 60.0 0.35 RONO
CHCI-766 130.5 181.5 51.0 0.33 RONO
CHCI-767 157.5 174.0 16.5 0.52 RONO
CHCI-768 213.0 250.5 37.5 0.24 NORTH WEST EXTENSION
CHCI-769 186.0 223.5 37.5 0.94 NORTH WEST EXTENSION
CHCI-770 165.0 228.0 63.0 0.28 NORTH WEST EXTENSION
CHCI-771 No significant values NORTH WEST EXTENSION
CHCI-772 210.0 241.5 31.5 0.31 NORTH WEST EXTENSION
CHCI-773 31.5 64.5 33.0 1.15 PIT
  103.5 133.5 30.0 0.67  
  147.0 156.0 9.0 0.49  
CHCI-774 46.5 81.0 34.5 0.90 PIT
CHCI-775 160.5 214.5 54.0 2.56 PIT
CHCI-776 126.0 174.0 48.0 2.90 PIT
CHCI-777 85.5 118.5 33.0 1.26 PIT
CHCI-778 124.5 168.0 43.5 0.45 PIT
CHCI-779 114.0 139.5 25.5 1.37 PIT
CHCI-780 169.5 190.5 21.0 0.34 NORTH WEST EXTENSION
  208.5 225.0 16.5 0.42  
CHCI-781 81.0 91.5 10.5 0.63 NORTH WEST EXTENSION
  114.0 126.0 12.0 0.47  
  139.5 154.5 15.0 0.84  
CHCI-782 No significant values NORTH WEST EXTENSION
CHCI-783 NORTH WEST EXTENSION
CHCI-784 RONO
CHCI-785 195.0 223.5 28.5 0.77 RONO
CHCI-786 84.0 117.0 33.0 0.46 RONO
CHCI-787 No significant values RONO
CHCI-788 RONO
CHCI-789 RONO
CHCI-790 207.0 238.5 31.5 0.28 RONO
CHCI-791 No significant values RONO
CHCI-792 RONO
CHCI-793 51.0 105.0 54.0 0.19 RONO
CHCI-794 15.0 34.5 19.5 0.68 PIT
CHCI-795 No significant values NORTH WEST EXTENSION
CHCI-796 10.5 21.0 10.5 0.73 PIT
CHCI-797 No significant values NORTH WEST EXTENSION
CHCI-798 90.0 106.5 16.5 0.61 PIT
CHCI-799 246.0 252.0 6.0 7.60 PIT
CHCI-800 169.5 198.0 28.5 0.67 NORTH WEST EXTENSION
CHCI-801 No significant values PIT
CHCI-802 202.5 213.0 10.5 0.64 RONO
CHCI-803 87.0 105.0 18.0 0.72 PIT  
CHCI-804 94.5 111.0 16.5 2.24 PIT
CHCI-805 40.5 51.0 10.5 0.43 PIT
  73.5 88.5 15.0 0.29  
CHCI-806 192.0 214.5 22.5 0.61 PIT
CHCI-807 No significant values NORTH WEST EXTENSION
CHCI-808 SE OF PIT
CHCI-809 177.0 183.0 6.0 2.9 NORTH WEST EXTENSION
  192.0 220.5 28.5 0.27  
CHCI-810 No significant values SE OF PIT
CHCI-811 RONO
CHCI-812 SE OF PIT
CHCI-813 PIT
CHCI-814 LOMA PRIETA
CHCI-815 60.0 79.5 19.5 0.78 LOMA PRIETA
CHCI-816 No significant values RONO
CHCI-817 76.5 85.5 9.0 1.37 LOMA PRIETA
CHCI-818 79.5 88.5 9.0 0.58 LOMA PRIETA
CHCI-819 No significant values RONO
CHCI-820         LOMA PRIETA
CHCI-821 171.0 178.5 7.5 0.74 RONO
  207.0 226.5 19.5 0.93  
CHCI-822 No significant values LOMA PRIETA
CHCI-823 LOMA PRIETA
CHCI-824 RONO
CHCI-825 112.5 118.5 6.0 0.79 LOMA PRIETA
CHCI-826 No significant values RONO
CHCI-827         LOMA PRIETA
CHCI-828 127.5 136.5 9.0 0.36 RONO
CHCI-829 73.5 79.5 6.0 1.18 LOMA PRIETA
CHCI-830 189.0 196.5 7.5 0.7 RONO
CHCI-831 36.0 52.5 16.5 0.49 PIT
  61.5 87.0 25.5 1.6  
  228.0 235.5 7.5 0.6  
CHCI-832 No significant values PIT
CHCI-833 75.0 87.0 12.0 0.59 PIT
CHCI-834 246.0 256.5 10.5 1.67 PIT
CHCI-835 0.0 13.5 13.5 0.72 PIT
CHCI-836 13.5 22.5 9.0 4.00 PIT
  246.0 270.0 24.0 2.70  
CHCI-837 No significant values PIT
CHCI-838 157.5 183.0 25.5 0.49 PIT
CHCI-839 No significant values PIT
CHCI-840 SE OF PIT
CHCI-841 PIT
CHCI-842 SE OF PIT
CHCI-843 Assays pending SE OF PIT
CHCI-844 PIT
CHCI-845 SE OF PIT
CHCI-846 PIT
CHCI-847 PIT
CHCI-848 SE OF PIT
CHCI-849 LOMA PRIETA
CHCI-850 PIT
CHCI-851 PIT
CHCI-852 LOMA PRIETA
CHCI-853 NORTH WEST EXTENSION
CHCI-854 LOMA PRIETA
CHCI-855 LOMA PRIETA
CHCI-856 LOMA PRIETA
CHCI-857 LOMA PRIETA

Hole IDEastNorthElev.AZDIPDepthSectionTarget
CHCI-759 411137.50 3408353.00 485.92 33 -60 150.0 68 RONO
CHCI-760 411126.30 3408294.00 481.66 33 -60 300.0 67 RONO
CHCI-761 411151.60 3408277.00 483.70 33 -45 195.0 66 RONO
CHCI-762 411185.30 3408349.00 489.18 33 -60 240.0 66 RONO
CHCI-763 411213.90 3408309.00 494.06 33 -60 261.0 65 RONO
CHCI-764 411322.20 3408425.00 502.37 33 -55 85.5 64 RONO
CHCI-765 411250.60 3408318.00 499.04 33 -60 207.0 64 RONO
CHCI-766 411222.70 3408221.00 488.13 33 -50 210.0 63 RONO
CHCI-767 411347.20 3408082.00 488.42 33 -60 306.0 57 RONO
CHCI-768 411422.20 3408089.00 495.43 33 -60 283.5 55 NORTH WEST EXTENSION
CHCI-769 411513.51 3408061.36 485.66 33 -63 285.0 52 NORTH WEST EXTENSION
CHCI-770 411573.13 3408044.14 487.05 33 -60 250.5 50 NORTH WEST EXTENSION
CHCI-771 411676.82 3408152.03 491.03 33 -60 181.5 49 NORTH WEST EXTENSION
CHCI-772 411451.17 3408084.21 502.78 33 -60 294.0 54 NORTH WEST EXTENSION
CHCI-773 412767.95 3407526.96 437.44 33 -70 166.5 7 PIT
CHCI-774 412703.11 3407515.71 443.60 33 -60 250.5 9 PIT
CHCI-775 413058.06 3407422.69 469.71 20 -70 252.0 79 PIT
CHCI-776 413005.70 3407453.27 443.23 20 -70 240.0 81 PIT
CHCI-777 412803.02 3407465.73 442.92 33 -60 250.5 5 PIT
CHCI-778 412921.47 3407475.22 437.36 33 -67 258.0 2 PIT
CHCI-779 412889.32 3407476.75 437.31 33 -58 223.5 3 PIT
CHCI-780 411544.28 3407998.42 486.51 33 -60 289.5 50 NORTH WEST EXTENSION
CHCI-781 411551.04 3408119.92 487.29 33 -60 210.0 52 NORTH WEST EXTENSION
CHCI-782 411475.05 3407998.60 474.67 33 -62 304.5 52 NORTH WEST EXTENSION
CHCI-783 411435.59 3408153.85 495.48 33 -60 259.5 56 NORTH WEST EXTENSION
CHCI-784 411297.59 3408333.51 501.22 33 -50 199.5 63 RONO
CHCI-785 411099.24 3408297.56 481.18 33 -60 315.0 82 RONO
CHCI-786 411282.75 3408255.54 490.83 33 -60 211.5 62 RONO
CHCI-787 411109.47 3408365.50 482.39 33 -60 190.5 69 RONO
CHCI-788 411091.52 3408229.17 477.93 33 -60 382.5 67 RONO
CHCI-789 411220.35 3408268.35 500.09 33 -60 280.5 64 RONO
CHCI-790 411118.74 3408216.31 480.47 33 -60 270.0 66 RONO
CHCI-791 411361.51 3408156.29 492.76 33 -60 280.5 58 RONO
CHCI-792 411325.54 3408213.26 501.15 33 -60 271.5 60 RONO
CHCI-793 411247.89 3408353.72 505.05 33 -60 286.5 65 RONO
CHCI-794 413023.85 3407503.26 443.00 20 -65 193.5 81 PIT
CHCI-795 411485.18 3408235.94 488.65 33 -60 172.5 56 NORTH WEST EXTENSION
CHCI-796 413066.52 3407486.83 443.09 20 -65 216.0 79 PIT
CHCI-797 411490.87 3408138.35 496.97 33 -55 241.5 54 NORTH WEST EXTENSION
CHCI-798 412993.55 3407335.12 478.59 20 -60 306.0 80 PIT
CHCI-799 413082.47 3407314.24 497.29 20 -52 330.0 77 PIT
CHCI-800 411570.30 3408085.68 487.54 33 -60 300.0 51 NORTH WEST EXTENSION
CHCI-801 413039.85 3407286.66 496.46 20 -62 349.5 78 PIT
CHCI-802 411204.53 3408178.31 479.74 33 -60 241.5 63 RONO
CHCI-803 412971.79 3407360.37 478.57 20 -70 255.0 81 PIT
CHCI-804 413089.17 3407419.13 467.38 20 -55 222.0 78 PIT
CHCI-805 413239.58 3407396.36 498.36 20 -60 118.5 73 PIT
CHCI-806 413158.95 3407349.51 496.53 20 -53 253.5 75 PIT
CHCI-807 411620.02 3408119.13 489.00 33 -60 222.0 50 NORTH WEST EXTENSION
CHCI-808 413361.32 3407372.04 504.18 20 -60 166.5 69 SE OF PIT
CHCI-809 411537.10 3408025.50 485.95 33 -60 276.0 51 NORTH WEST EXTENSION
CHCI-810 413395.96 3407292.36 502.44 20 -60 190.5 67 SE OF PIT
CHCI-811 411055.95 3408234.30 480.75 33 -60 291.0 68 RONO
CHCI-812 413468.65 3407236.32 502.79 20 -60 288.0 64 SE OF PIT
CHCI-813 410987.63 3408355.25 482.40 33 -60 291.0 72 PIT
CHCI-814 413788.69 3406982.76 493.54 20 -60 196.5 51 LOMA PRIETA
CHCI-815 413789.96 3407065.49 495.95 20 -60 202.5 52 LOMA PRIETA
CHCI-816 411311.56 3408232.74 496.56 33 -60 252.0 61 RONO
CHCI-817 413872.30 3407013.90 495.08 20 -60 103.5 49 LOMA PRIETA
CHCI-818 413726.56 3407065.86 496.18 20 -60 178.5 54 LOMA PRIETA
CHCI-819 411142.53 3408472.89 486.92 33 -50 228.0 70 RONO  
CHCI-820 413758.22 3407053.22 490.19 20 -60 166.5 53 LOMA PRIETA
CHCI-821 411073.48 3408325.77 478.32 33 -60 252.0 69 RONO
CHCI-822 413872.30 3407113.76 499.03 20 -60 100.5 50 LOMA PRIETA
CHCI-823 413631.69 3407169.26 503.21 20 -60 277.5 58 LOMA PRIETA
CHCI-824 410931.39 3408387.99 475.62 33 -60 282.0 74 RONO
CHCI-825 414150.66 3406919.66 558.86 20 -60 172.5 39 LOMA PRIETA
CHCI-826 410924.01 3408479.34 486.12 33 -60 240.0 76 RONO
CHCI-827 414016.42 3407068.80 502.09 20 -60 91.5 45 LOMA PRIETA
CHCI-828 410961.69 3408663.29 491.72 33 -60 228.0 78 RONO
CHCI-829 413928.64 3407011.02 503.71 20 -60 160.5 47 LOMA PRIETA
CHCI-830 410875.28 3408519.93 487.23 33 -60 366.0 78 RONO
CHCI-831 411986.19 3407793.84 383.86 33 -65 247.5 37 PIT
CHCI-832 413092.62 3407419.31 467.29 20 -75 283.5 78 PIT
CHCI-833 413053.86 3407406.25 467.43 20 -75 270.0 79 PIT
CHCI-834 413008.38 3407372.67 467.19 20 -60 300.0 80 PIT
CHCI-835 412085.06 3407892.34 383.43 33 -48 145.5 33 PIT
CHCI-836 413110.15 3407301.02 494.13 20 -50 300.0 76 PIT
CHCI-837 413190.99 3407262.31 495.92 20 -60 318.0 73 PIT
CHCI-838 413192.76 3407358.00 496.82 20 -60 246.0 74 PIT
CHCI-839 413164.00 3407272.65 495.37 20 -55 348.0 74 PIT
CHCI-840 413427.24 3407212.72 539.16 20 -65 172.5 65 SE OF PIT
CHCI-841 412598.86 3407303.00 530.43 33 -75 390.0 8 PIT
CHCI-842 413425.19 3407306.85 540.74 20 -60 148.5 66 SE OF PIT
CHCI-843 413454.80 3407108.00 537.09 20 -60 190.5 63 SE OF PIT
CHCI-844 413249.80 3407338.00 536.37 20 -60 219.0 72 PIT
CHCI-845 413390.40 3407371.00 505.15 20 -60 180.0 66 SE OF PIT
CHCI-846 413296.70 3407380.00 500.84 20 -60 148.5 71 PIT
CHCI-847 413202.30 3407380.00 497.83 20 -55 186.0 74 PIT
CHCI-848 413571.50 3407252.00 505.57 20 -60 82.5 61 SE OF PIT
CHCI-849 413692.50 3407071.00 498.70 20 -60 139.5 55 LOMA PRIETA
CHCI-850 412733.20 3407514.00 437.30 33 -70 234.0 8 PIT
CHCI-851 411820.93 3407931.19 461.40 33 -60 216.0 41 PIT
CHCI-852 413808.01 3407025.14 495.00 20 -60 163.5 52 LOMA PRIETA
CHCI-853 411587.65 3407962.83 484.36 33 -60 258.0 48 NORTH WEST EXTENSION
CHCI-854 413841.53 3407118.81 498.90 20 -60 88.5 52 LOMA PRIETA
CHCI-855 413910.23 3407128.72 500.80 20 -60 82.5 49 LOMA PRIETA
CHCI-856 413979.58 3406972.56 517.84 20 -60 133.5 45 LOMA PRIETA
CHCI-857 413855.99 3406983.91 493.12 20 -60 169.5 47 LOMA PRIETA

 

SOURCE AuRico Gold Inc.

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