Auracle Resources Ltd. Announces 84.9 Meters at 1.76 g/t Gold
28.03.2012 | Marketwire
VANCOUVER, 03/27/12 - Auracle Resources Ltd. (the "Company") (TSX VENTURE: AAL) is pleased to announce that final assays from the Phase One diamond drill program on the Company's Mexican Hat gold project, located 110 km southeast of Tucson, Arizona.The program consisting of 19 drill holes was designed to test the Mexican Hat area covering the non 43-101 complaint resource area as defined by Placer Dome as well as possible mineralized extensions to the south and east.
Drilling conditions were difficult and core recovery was a challenge throughout the program. Results from diamond drilling as compared to historical reverse circulation drilling were lower in most areas and in one case 70% lower.
Assay results in and around the historic resource area as well as areas up to 150 meters east and up to 1000 meters south indicated the presence of gold mineralization. The potential for further mineralization remains open to the south and down dip as well as old workings up to 2.5 km south of the Mexican Hat.
Following the release of holes MH 001, 002 and 003 further sampling and assaying on these holes was carried out to possibly extend identified intercepts on these holes. The results are considered encouraging.
Drill Hole Assays
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Hole Grade
From To Intercept (gr/tonne)
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MH 11-001 56.1 121.3 70.1 1.16
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Incl. 81.38 92.96 11.58 1.75
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102.72 116.13 13.4 2.16
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MH 11-002 46.9 131.8 84.9 1.76
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Incl. 46.9 55.47 8.53 2.49
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83.26 106.38 20.12 4.19
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121.00 124.00 3.0 2.53
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MH 11-003 61.2 65.68 4.48 138.3
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100.8 142.3 41.5 0.51
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MH 11-04 16.12 38.10 21.98 0.41
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52.09 59.13 7.04 0.70
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143.56 151.18 7.62 1.34
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MH 11-05 57.3 87.9 32.2 0.535
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MH 11-06 22.3 37.8 15.5 0.766
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MH 11-07 15.4 20.42 5.18 13.4
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MH 11-08 28.2 32.0 3.8 0.95
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MH 11-09 47.9 62.7 14.8 1.62
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MH 11-14 29.3 67.4 38.1 0.56
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Incl. 29.3 43.1 13.8 1.18
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MH 11-18 6.1 8.8 2.7 3.97
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22.0 29.9 7.9 0.79
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40.5 46.0 5.5 0.96
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Holes MH 11-10, 11, 12, 13, 15, 16, 17 and 19 were drilled to the east of the resource area and encountered significant alteration but returned sporadic and generally low gold values. Further work will be required to determine if this has identified the eastern limit of gold mineralization.
The Company is satisfied with the results to date and planning is underway for the next phase of drilling, concentrating within and extending the historic resource area using reverse circulation drilling as well as extending the zone southwards.
Jerome Grant M.Sc., P.Geo., was the qualified person and site manager and has overseen insertion of quality control standards and blanks into the core stream. The core is shipped by UPS to Loring Laboratories in Calgary, Alberta for assay. George Nicholson, P.Geo., Director has approved the contents of this release.
Auracle would like to thank the field staff and service providers in Arizona as well as our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS,
Robin Forshaw
President & CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.
Neither 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.
Contacts:
Auracle Resources Ltd.
Robin Forshaw, President & CEO
(001)604-682-3131
(001)604-682-1816 (FAX)
www.auracleresources.com