Auriga Gold Commences Preliminary Economic Assessment on the Maverick Gold Project, Flin Flon, Manitoba
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/25/11 -- Auriga Gold Corp. (TSX VENTURE: AIA) ("Auriga Gold" or the "Company") is pleased to announce that it has engaged A.C.A Howe International Limited ("Howe") to prepare a Preliminary Economic Assessment or "PEA" on the Company's Maverick Gold Project ("Maverick Project" or "Project"). The Maverick Project includes the past-producing Puffy Lake mine and mill located 65 kms northwest of Flin Flon, Manitoba. The Company recently announced a NI 43-101 initial mineral resource estimate on the Puffy Lake property identifying both near surface and underground mineral resources (see press release dated August 4, 2011). The PEA will assess the potential economic viability of the Maverick Project under various conventional mining practices and milling options based on the initial NI 43-101 mineral resource estimate. Specifically, Howe will assess the potential economic viability of an initial open pit mining operation utilizing the on-site Puffy Lake mill and other existing infrastructure. Auriga Gold expects the PEA to be completed in October 2011 and a positive result will provide the basis for the Company's plan to refurbish the Puffy Lake mill and commence test mining within the next year.
Howe is an international geological and mining consultancy that provides consulting, management and contracting services to the mining industry. The firm has been active worldwide since it was incorporated in 1960 and operates from offices in Toronto, Canada and London, England. Howe has provided expertise on over fifteen hundred projects for the minerals industry at many stages of development, ranging from mineral target selection and grass roots exploration for mining companies to reserve audits and feasibility studies for financial institutions.
About Auriga Gold
Auriga Gold is a Canadian mine development and exploration company focused on expanding gold resources and developing the combined Puffy Lake and Nokomis properties (the "Maverick Gold Project"). The Company plans to upgrade and expand the current mineral resources at the Maverick Gold Project and bring the Puffy Lake Mine back into production.
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. This press release is not and is not to be construed as an offer to buy or sell securities in the United States.
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:
Auriga Gold Corp.
Dr. Richard H. Sutcliffe
President and CEO
(416) 214-2785
Auriga Gold Corp.
Alison Tullis
Manager, Investor Relations
(416) 214-2785
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Datum: 25.08.2011 - 16:30 Uhr
Sprache: Deutsch
News-ID 59401
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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