The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
AUU: TSX-V
President and CEO: Robert Boaz
Chairman: Jeffrey Klenda
Vice President, Exploration: Eric Craigie
Formed in 2003, Aura Silver Resources Inc. is a Canadian exploration company engaged in the discovery of precious metal deposits with a focus on silver.
The Company has concentrated its search on precious metal districts in North America.
Aura Silver has two active projects in North America, one in Oaxaca, Mexico and one located in an under-explored Archean greenstone belt in Nunavut, Canada.
Aura Silver's Greyhound property is a high-grade silver and base metal prospect in the Churchill region of Nunavut.
The company has staked 23,000 hectares, giving it a strategic land position.
Past sampling of near outcrop has returned silver values of 47 and 99 ounces per ton.
Several strong airborne conductors were discovered following an airborne survey in 2006.
Results of this work indicate that the potential to discover a volcanogenic massive sulphide (VMS) precious metal enriched deposit is excellent as is an orogenic vein or iron formation hosted gold deposit.
Results of the airborne geophysical survey have been processed and integrated with geochemical data to yield a new interpretation of the geophysical data, which indicates distinct conductors that are coincident with previously described geochemical anomalies and high-grade assays.
Given the aerial extent of the geophysical targets, associated banded iron formation and the presence of high-grade surface samples, Aura Silver's geologists believe that a target could be fairly shallow and of significant size.
The next phase of exploration will entail helicopter-borne geophysics in order to define drill targets.
An initial phase of drilling is planned for early spring 2010.
There will also be a focus on further prospecting of the northern part of the property, where significant conductive responses may indicate a separate mineralized system.
Cash and short-term deposits: C$465,000 (at Aug. 26, 2009)
Working capital: C$271,340 (at June 30, 2009, plus C$330,985 in stock option proceeds)
Market capitalization: C$13.3 million
1128 Clapp Lane, P.O. Box 279
Manotick, ON Canada K4M 1A3
Tel: 905-403-8010 Fax: 613-692-3234
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