Aura Silver Resources Inc. announces the results of a comprehensive report completed by L.E Reed Geophysical Consultant Inc. (“Reed”) which supports, from a geophysical standpoint, drill targets established geochemically by Activation Laboratories Ltd. (Actlabs) Spatiotemporal Geochemical Hydrocarbon (“SGH”) technology for the Aura Lake area as well as the Dingo prospect north-west of Aura Lake, both part of the Greyhound Project, NU.
As reported by Reed, “Correlations between the geochemistry and various geophysical data suggest support for the possible identification of gold and silver deposits at Aura Lake and a gold and copper deposit at Dingo”. This report may be accessed at the Company’s web-site (http://www.aurasilver.com/s/Home.asp) under the section Projects / Canada.
The potential sources of high-grade gold boulders (up to 28 g/t) and high-grade silver (up to 5,300 g/t) have been identified in close proximity to Aura Lake. The gold and copper targets at the Dingo prospect area north-west of Aura Lake are surface showings. New interpretation of geophysical data and SGH has refined the drill targets. This geophysical analysis has identified multiple structures/contacts with the use of three-dimensional inversion imagery of airborne VTEM EM and magnetic responses and ground Induced Polarization and Resistivity data. These structures/contacts at Aura Lake may have provided a pathway for fluids carrying mineralization and are interpreted to support the drill targets originally defined by geochemical analysis.
Robert Boaz CEO and President of Aura Silver states that, “The detailed geophysics analysis undertaken by Reed gives us further comfort that we are zeroing in on the source of high-grade surface gold, silver and copper mineralization. Despite the difficult market for all junior exploration companies we continue to enhance the value of our properties.”
During the fall of 2006, an airborne MEGATEM® geophysical survey was flown on the initial property by Fugro Airborne Surveys Corp. In 2007, further prospecting of MEGATEM anomalies took place. Samples collected in 2007 contained up to 2.4% zinc (Zn), 1.02% copper (Cu), 8.1% lead (Pb), 10g/t gold (Au) and 51 g/t silver (Ag) highlighting the potential for discovery of VMS (volcanogenic massive sulphide) ores.
During 2008, Fugro completed the flying of a GEOTEM® survey over the new Greyhound claim group. Results from this survey were utilized in an on-the-ground field program to complete geological mapping and sampling. Samples prospected during 2008 contained up to 4.1% Cu, 13.4% Zn, 8% Pb, 2,700 g/t Ag and 28g/t Au and to the northeast of Aura Lake a series of boulders contained up to 18.5% Zn and 9.2% Cu.
In late 2009, a high precision VTEM® helicopter borne electro-magnetic survey was completed.