Aurvista’s Douay project gained a nearly $6-million private placement last month.
Following up on last summer’s airborne EM, Aurvista Gold TSXV:AVA plans to complete a ground survey on its Douay gold project by next month. The company describes the University of Toronto Electro-Magnetic system as “different from other EM systems in that it can detect good EM conductors in the presence of poorer ones…. UTEM sees both the freely decaying and directly driven part of the magnetic field. It is this second aspect that makes UTEM unique and so important in detecting and characterizing extremely conductive deposits such as massive sulphides.”
The survey will target three near-surface conductive bedrock anomalies surrounding the Abitibi project’s South porphyry. Last summer’s EM also found four anomalies proximal to the Casa Berardi deformation zone, northwest of the Adam Creek gold deposit.
Aurvista considers one of the current targets, anomaly E, most promising because of its location near the gold-bearing Main, South and Adam porphyries. “There are chlorite-sulphide bearing feeder pipes nearby as observed in drill holes DO-92-24 and DO-11-34, typically found in association with massive sulphide mineralization, yet to be found at Douay,” the company stated.
The other two targets, anomalies F and G, are larger “but are believed, based on nearby re-logged drill core from the Phase I program, to be related to sulphide mineralization.”
Last week the company announced it had chosen seven drill locations to update resources for four of the project’s zones. Eight zones were included in a 2012 resource estimate that used a 0.3 g/t cutoff and totalled:
-- indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces
-- inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces
In November the company closed a private placement of $5.99 million.
Of the 14,520-hectare project, Aurvista holds 100% of 13,310 hectares, 90% of 20 hectares and 75% of 1,190 hectares.