Aura Silver Resources Inc. (“Aura Silver” or the “Company”) is pleased to announce that it has completed an extensive soil sampling survey on its 72% owned East Taviche property in Oaxaca Mexico. The purpose of this program is to enhance our knowledge of the geology and geochemical expression of the Company’s Higo Blanco jasperoid structure in order to expand the existing resource and find additional, buried precious metal targets. In addition, preliminary geological reconnaissance and rock sampling were conducted in the northern end of the East Taviche concession (East Taviche North) to assess the potential for the continuation of vein structures, some of which were previously identified on an adjacent property.
Over 151 soil samples were collected over the 6.5 kilometre by 1.7 kilometre Higo Blanco jasperoid complex which, some years earlier was found to contain high grade silver and low grade gold (<2.0 g/t) over wide intervals. Aura Silver intends to perform both organic and inorganic geochemical work to further enhance our current data base which contains extensive geophysical and geochemical results from past campaigns. The Company then plans to amalgamate all data sources in order to enhance our understanding of the sources of the silver and gold drill intercepts from previous campaigns.
At East Taviche North, several veins and vein swarms along with associated stock works have been identified and traced for approximately 1.2 km. These veins may represent the possible extension of a gold/silver resource from an adjacent property held by Arco Resources Corp. The veins generally consist of quartz-calcite with minor sulphides and range in width from 30 cm to over 2.5 m. The host rocks consist of andesite with minor outcroppings of volcanic sediments and some “islands” of limestone. Limited sampling has been done and assays are not yet available. Little is known about these veins as well as those of the adjacent concession. Several “historic” pits and at least one shaft with a good-sized waste dump, which was also sampled, were observed in the area. It is planned that more mapping, sampling and trenching be conducted in this area in the future.
Aura Silver CEO Robert Boaz states, “This recently completed program will add significant value to our exploration strategy as it enhances the knowledge we already have regarding our current 43-101 resource at Higo Blanco. The fact that we have identified a potential new silver / gold target at the East Taviche North property is positive since it seems to be an extension of an established resource just east of our property”.
Assaying of rock samples from this program will be completed by Activation Labs through their office in Zacatecas, Mexico. These rock samples will be analyzed for gold using a 30g fire assay with AA finish while silver will be analyzed using a four acid “near total” digestion multi-element package. The soil samples will be analyzed by Spatiotemporal Geochemical Hydrocarbons (SGH) at Activation Labs, Ancaster, Ontario offices.
Mr. Patrick Toth, B.Sc., P.Geo., a qualified person as defined by NI 43-101, conducted and supervised the sampling program and has reviewed and approved the contents of this press release.
Stock option grant
The Company also announces that it has granted stock options for a total of 3,900,000 common shares of the Company to officers, directors and consultants of the Company. These stock options are exercisable at $0.05 per stock option and expire on June 20, 2019. These stock options vest over an eighteen month period following the grant date and are governed by the terms and conditions of the Company’s stock option plan.
This stock option grant is subject to acceptance by the TSX Venture Exchange.
About Aura Silver
Aura Silver is a TSX Venture listed company engaged in the acquisition, exploration and development of precious metal prospects in Canada (100% owned Greyhound project) and in Oaxaca, Mexico (72% owned East Taviche project). Aura Silver has 101,680,844 common shares outstanding.
For further information regarding this press release contact: Robert Boaz, President and CEO at (905) 403-8010 or by e-mail at [email protected] Aura Silver’s web site is located at www.aurasilver.com.
This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, the private placement financing activities of the Company, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Aura Silver does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the 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.