Auracle Resources Ltd. Releases Assay Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/22/12 -- Auracle Resources Ltd. (the "Company") (TSX VENTURE: AAL) is pleased to announce assay results from 5 holes of the nineteen-hole Phase One drilling program on the Mexican Hat gold project located near Pearce, Arizona, 125km southeast of Tucson.
Phase One consisted of both infill holes within the non-43-101 compliant resource area established by Placer Dome as well as step out holes to test areas exhibiting potential as defined by sampling, geophysical surveys and a structural study completed by Dr. Alan Miller, PhD, P.Geo.
Diamond drilling was employed for this phase to gain a better understanding of geological information with respect to alteration, structure and lithology for emplacement to gold mineralization. Gold mineralization was found to be primarily in extensively fractured volcanic rocks with abundant hematite/limonite alteration as well as areas of pervasive hematite/limonite alteration within the volcanic host rocks with less shearing.
Drilling conditions were difficult due to the fractured ground conditions and core recoveries were from 76% to 100%. Core loss was primarily within highly sheared and altered rocks. An example of this is in Hole MH 11-001 within the 13.2 meter intercept grading 2.155 g/t gold there were two intervals of 2.07 and 1.12 meters respectively with no core recovery.
Holes MH 11-001 to 003 were located within the Placer Dome historical 43-101 non-compliant resource area of the Mexican Hat Project while holes MH 11-004-019 were step out holes to identify further mineral potential.
Assays for holes MH 11-005 and 006 have yet to be completed and will be released upon completion. The Company is very pleased with the results to date and is awaiting further results from the Phase One program.
Follow up exploration on the extension of the EM anomalies by Company geological staff resulted in highly altered rocks with abundant hematite alteration within an area of historic workings some 2.5km south of the Mexican Hat Mountain. Crews are being dispatched to the area to conduct a bedrock sampling program in the area.
Plans are being formulated for the Phase Two drilling program using Reverse Circulation drilling for the infill drilling and diamond drilling for step out exploration.
Jerome Grant, M.Sc., P.Geo., is the qualified person and site manager and has overseen insertion of quality control standards and blanks into the core stream. The core is shipped by UPS to Loring Laboratories in Calgary, Alberta, for assay. Mr. Grant has approved the contents of this release.
Auracle would like to thank the field staff and service providers in Arizona as well as our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS,
Robin Forshaw, President & CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
Neither 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.
Contacts:
Auracle Resources Ltd.
Robin Forshaw
President & CEO
(001) 604-682-3131
(001)604-682-1816 (FAX)
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Datum: 23.01.2012 - 03:05 Uhr
Sprache: Deutsch
News-ID 106428
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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