Auryx Gold Releases Results of Exploration and Infill Drilling From Central and East Zones at the Otjikoto Gold Project in Namibia
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/01/11 -- Auryx Gold Corp. ("Auryx" or the "Company") (TSX: AYX)(NSX: AYX) is pleased to announce assay results from 34 diamond drill ("DD") and 7 reverse circulation ("RC") holes in the central and eastern region of the current modeled pit at the Otjikoto gold project in Namibia. These holes combine with previously drilled holes to define the Central shoot and East 1 Shoot. Please follow the link for the relative locations of the shoots and the drill holes reported below:
All holes drilled on the Central shoot are located "in-pit". Exploration holes (OT) have been drilled into waste blocks or exploration targets with the purpose of discovering new zones of mineralization or extending known zones, whereas infill drilling (TC holes) is done to convert the 43-101 resource estimate from inferred to indicated in certain regions. Highlights from the results include 4 m of 6.21 g/t Au, 17 m of 1.45 g/t Au, 23m of 1.57 g/t Au, 23m of 1.29 g/t Au and 33 m of 0.80 g/t Au.
Auryx's CEO, Mr. Searcy comments: "Drill results from the Central Shoot have been successful in extending the shoot downplunge to the south and could positively impact on the ultimate pit design. Drilling to the east in the East 1 Shoot and further along line 7200 demonstrate that the mineralization at Otjikoto is much more extensive than previously demonstrated. Ongoing work continues to improve the geologic model which should positively impact resource growth and the economic potential of Otjikoto."
Drill Results
Table 1: Otjikoto Drilling Results 1 November 2011 - Central Shoot
Table 2: Otjikoto Drilling Results 1 November 2011 - East 1 Shoot
Table 3: Otjikoto Drilling Results 1 November 2011 - Line 7200
Drilling is ongoing at Otjikoto with 5 DD rigs and 1 RC rig on site. Since taking over the project and as of 20 October, 2011, Auryx has drilled 192 DD holes for 46,700 m and 90 RC holes for 8,640 m at Otjikoto. As of today, results from 89 DD and 71 RC holes have been released. The location of all holes drilled at Otjikoto can be viewed on a drill hole map in plan view at:
.
Quality Assurance/Quality Control
Auryx's QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample. For a detailed description of QA/QC procedures please see the Auryx Gold press release dated 12 May 2011 or the NI 43-101 Technical Report by SRK Consulting (South Africa) Pty Ltd. dated 31 March 2010, available at .
About Auryx Gold Corp.
Auryx Gold Corp. (TSX: AYX)(NSX: AYX) is a Canadian, growth-focused resource company engaged in the acquisition and exploration of gold projects in Namibia. The Company is currently advancing the Otjikoto gold deposit, located 300 km north of Namibia's capital city, Windhoek. By virtue of its location, the Project benefits significantly from Namibia's well established infrastructure with paved highways, a railway, power grids, and the water grid all close by. Located in southwest Africa, Namibia is mining-friendly and lauded as one of the continent's most politically and socially stable jurisdictions. On October 11, 2011, Auryx announced the signing of a binding agreement with B2Gold Corp. to combine the two companies. The agreement is subject to the approval of Auryx shareholders, who are to vote at the Annual and Special Meeting to be held in December, 2011.
On behalf of the Board of Directors,
Tim Searcy, P.Geo., Chief Executive Officer
Cautionary Notes
Certain information set forth in this press release contains "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking information which is based on Auryx Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These risks and uncertainties include, but are not limited to: successful conversion of inferred mineral resource estimates to indicated mineral resource estimates based on drilling results, ability to successfully add resources "in-pit", successful growth of the resource along strike at Otjikoto; liabilities inherent in mine development and production; geological, mining and processing technical problems; Auryx Gold's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Auryx Gold undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
Qualified Person Statement.
Tim Searcy, PGeo, Auryx Gold's President, is a Qualified Person as defined under National Instrument 43-101. Mr. Searcy has reviewed and approved of all of the technical disclosure in this document.
Contacts:
Auryx Gold Corp.
Andisheh Beiki
Investor Relations
+1 (416) 361-2213 or Mobile: +1 (647) 968-1920
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Datum: 01.11.2011 - 12:00 Uhr
Sprache: Deutsch
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