Aurvista significantly expands global resource at douay gold project
Thursday, Jul 05, 2012
Aurvista Gold Corp. ("Aurvista" or the "Corporation") (TSX VENTURE:AVA) is pleased to announce that it has received the Updated Mineral Resource Estimate from its independent consultant, Riverbend Geological Services Inc. ("Riverbend"), for its Douay Gold Project ("the Project").
The Updated Mineral Resource Estimate includes all drilling completed to the end of March 2012, and comprises results from 657 holes drilled on the Project since its discovery. The results of the Updated Mineral Resource Estimate show significant improvement in terms of upgrading the Resource category through the conversion of Inferred Resources into Indicated Resources and the expansion of the Project through the addition of new Indicated and Inferred Resources (for previous resource estimate please refer to the Technical Report dated March 15, 2011 and entitled, "Resource Update of the Douay Property and Preliminary Economic Assessment of the Douay West Mineral Deposit, Northern Abitibi, Quebec").
"We are very pleased to have been able to achieve our initial target and a major milestone of two million seven hundred and fifty thousand inferred ounces and two hundred and thirty thousand indicated ounces. The Corporation has also completed a revised NI 43-101 Resource Estimate in a timely manner incorporating all of our drilling to date" said Rick Adams, President and CEO of Aurvista. "The significant increase in resources generated at cut-off grades consistent with other projects in the region are indicative of what we consider to be the outstanding potential for an economic bulk tonnage deposit with the potential to add additional ounces along this substantial mineralized system. We believe the Douay Project now represents one of the largest undeveloped gold deposits in Quebec."