Aura Silver Discovers New Precious Metal Target at Northeast
Greyhound Property, Nunavut
OTTAWA, ONTARIO -- (Marketwire) -- 11/26/12 -- Aura Silver Resources
Inc. (TSX VENTURE:AUU) ("Aura Silver" or the "Company") is pleased to
announce that it has identified an exceptionally strong and
newly-identified drill target for silver found at the northeast end
of its wholly-owned Greyhound project in Nunavut. The northeast
Greyhound claims were newly staked in the late summer of 2011. This
silver target has been defined through SGH geochemical analysis of
surface soils completed by Activation Laboratories Ltd. of Ancaster,
Ontario. The new target is some twenty kilometres from the previously
reported gold and silver targets close to Aura Lake (see press
release #12-03 of May 22, 2012 and press release #11-16 of December
13, 2011). During 2011, Aura Silver conducted its first prospecting
of the newer northeast claims and discovered multiple high-grade
surface rock samples and also completed an extensive soil sampling
grid over the northeast claims.
Aura Silver geologists continue to successfully employ the
deep-penetrating SGH organic geochemistry developed by Activation
Laboratories Ltd. to unravel and pin point anomalous trends across
the entire Greyhound project area. Actlab's SGH analysis detects the
organic decomposition products from bacteria and microbes that feed
directly on mineral or petroleum targets and provide a forensic
signature identifying the target buried at depth. SGH has been highly
successful in the analysis of surficial samples prospected over
potential mineral and petroleum targets. The analysis involves the
testing for 162 hydrocarbon compounds in the C5-C17 carbon series
range in a wide variety of sample types.
The observation of a specific set of hydrocarbon classes provides a
forensic signature of mineral identification related to the
hydrocarbons synthesized by bacteria that are in contact with the
mineral target at depth. The geochromatographic dispersion of the SGH
classes in the overburden has been successful in delineating mineral
targets found at over 700 metres in depth. SGH analysis has
experienced a high success rate in the past with over 900 exploration
targets interpreted for a range of major mining companies to junior
explorers in both the mining and petroleum industries.
The northeast Greyhound SGH analysis provided compelling results and
has defined a significant silver target (see Figure 1:
http://media3.marketwire.com/docs/Figure1_1126.pdf; which is also
available at the Company's website www.aurasilver.com under 'News').
This target resides where no previous drilling or detailed
prospecting has occurred. The target is quite broad (in the range of
500 square metres) indicating a moderate depth potential of several
hundred metres. The analysis also identified a gold target but this
did not bear the same high quality attributes of the more compelling
silver target. Dale Sutherland, Director of Research, Activation
Laboratories stated it's ".... difficult to imagine a better drill
target from a geochemistry standpoint".
Robert Boaz, CEO and President of Aura Silver states that, "in
addition to our drill ready gold and silver targets close to Aura
Lake in the southwest of the property we have now determined that
mineralization at Greyhound is much more widespread than previously
thought. This highlights the potential for the Greyhound project to
host multiple gold/silver targets across the strike length of the
Archean greenstone belt covered by our claims.". The Company is
currently in the process of renewing its licenses to allow for future
drilling programs to proceed.
Paul Pitman, 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 (100% owned Greyhound project) and in Oaxaca, Mexico. Aura
Silver has 101,680,844 common shares outstanding.
Aura Silver's web site is located at www.aurasilver.com.
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 including the uncertainty as to whether
further exploration will result in the target(s) being delineated as
a mineral resource, capital expenditures, operating costs, mineral
resources, recovery rates, grades and prices, estimated goals,
expansion and growth of the business and operations, the private
placement financing activities of the Company, plans and references
to the Company's future successes with its 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 www.sedar.com. 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.
President and CEO
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