AURA SILVER RES0URCES INC.
TSX.V: AUU
Contact: Robert Boaz,
President and CEO
Phone: 905-403-8010
Corporate Office:
1128 Clapp Lane, P.O. Box 279
Manotick, ON, Canada K4M 1A3
Toll Free: 877-692-7704
Phone: 613-692-7704
Fax: 613-692-3234
Investor Relations: 905-403-8010
E-Mail: Boaz@aurasilver.com
or JMcNeice@bellnet.ca
Web Site: www.aurasilver.com
Shares Outstanding: 97.68 million
52 Week Trading Range:
Hi: C$0.59 Low: C$0.05
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Aura Silver Resources Inc. (TSX.V: AUU) -- www.aurasilver.com -- has identified distinct targets as possible source areas of the high-grade gold and high-grade silver surface samples found on its wholly-owned Greyhound Project in Nunavut, Canada in close proximity to its namesake Aura Lake.
Up to now, locating a bedrock source has eluded all of Aura Silver’s efforts by prospecting and conventional soil and geophysical methods.
Although multiple surface rock samples, ranging up to 5,300 g/t silver carrying little gold and up to 28 g/t gold with negligible silver, have been found on surface, drilling of structural, geophysical and geochemical targets has been unable to locate a source of these high grade samples.
While it was believed one possible cause could be due to glacial transport, Aura Silver’s geology team concluded it needed additional technical expertise to aid in pinpointing structural/geochemical targets which could host the high-grade mineralization.
The surface erratics are dispersed over a wide area to the east, south and south west of Aura Lake and conventional surface geochemistry extends for several kilometers southward.
“Our geology team has never lost faith in being able to track these erratics back to their source,” says CEO Robert Boaz. “The high-grades are simply too spectacular to walk away from.”
The difficulty in finding a source of the high-grade gold & silver through traditional geophysical and geochemical techniques prompted Aura Silver to employ an interpretative study referred to as Soil Gas Hydrocarbon (“SGH”) to unravel anomalous trends in the entire area and to pinpoint drill targets.
vSGH is a deep penetrating organic geochemistry, developed by Activation Laboratories Ltd. (“Actlabs”) of Ancaster, Ontario, that involves the analysis of surficial samples prospected over potential mineral or 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. Over 14 years of research, Actlabs has conducted over 800 SGH surveys with an 85% repeat client base, including some of the worlds’ largest mining companies.
The Aura Lake SGH analysis provides compelling results and has defined a separate gold and two separate silver targets. The targets identified reside to the east and south east of Aura Lake in areas where no previous drilling has occurred. These targets are sufficiently definitive to outline drill targets and have been rated by Actlabs as high-priority targets – with gold receiving the second highest rating of the gold pathfinder class maps and silver of the very highest confirmation level. The results also indicate that gold and silver samples originated from two different mineralizing systems with most samples being transported on a north to southerly path.
 The South Aura Lake Anomaly forms three discontinuous gold anomalies each striking east-westerly. The main anomaly covers the original gold showing where surface rock values of up to 28.2 g/t Au were previously discovered and is outlined by a co-incident induced polarization geophysical anomaly.
Soil values ranged from 22 ppb to 1,070 ppb Au (1.07 g/t Au). A second and larger anomaly has a strike length of 700m with soil values ranging from 35ppb to 1,450 ppb Au (1.45 g/t Au). One rock sample collected assayed 4.69 g/t Au and 59.4 g/t Ag. The third and most southerly anomaly covers a strike length of 300m with soil values from 24ppb to 481 ppb Au. A total of 17 drill holes or 2,648.6 meters tested a variety of geological, geochemical and geophysical targets. Initial results were not encouraging and no significant assay results were encountered.
The Dingo target, to the north and east of Aura Lake, is the second new area outlined by the 2011 soil survey. The quartz-vein body outcrops at the contact of mafic volcanic and a granodiorite intrusion over a continuous strike length of 1,700m.
A total of 295 soil samples were collected on 100m line spacings across the vein. Anomalous soils varied from 52 ppb to >2,000 ppb Au (> 2 g/t Au) with rock samples from outcrop from trace amounts up to 9.1 g/t Au and 96.6 g/t Ag (see table below). At the southern end, a copper stringer zone was found associated with the quartz vein which carried weaker precious metals values (0.89 g/t Au and 47.6 g/t Ag).
Investment Considerations
 “We are extremely excited about the SGH analysis as it is consistent with our belief that the source of high-grade surface samples from Aura Lake are nearby,” says Robert Boaz CEO and President of Aura Silver. “We feel SGH significantly augments our understanding of the Aura Lake area along with our previous geophysics and geochemical studies. Drilling of these targets is planned to commence in the spring of 2012.”
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