Business
AuRico Reports the Addition of Over 1 Million Ounces of Proven and Probable Reserves at Young-Davidson and the Discovery of Over 1.4 Million Ounces of Measured and Indicated Resources Across its Operating Mines.
Proven and Probable Reserves Increase to 8.6 Million Gold Eq. Ounces Company-wide TOR...
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\n\n\nProven and Probable Reserves Increase to 8.6 Million Gold Eq. Ounces\n Company-wide\n\n\nTORONTO, March 5, 2012 /CNW/ - AuRico Gold Inc. (TSX:AUQ) (NYSE: AUQ), (\"AuRico\" or \"AuRico Gold\" or\n the \"Company\")  today reported its updated Reserves and Resources, as at December 31st, 2011, which includes a 217% increase to Proven and Probable reserves,\n and a 758% increase in Measured and Indicated resources. The\n significant growth in resource inventory has been driven both by the\n strategic acquisitions of Capital Gold Corporation (April 2011) and\n Northgate Minerals Corporation (October 2011) as well as additions and\n discoveries of new mineralization at AuRico's North American\n properties.\n\n\nConsolidated Highlights \n\n\n\n\n\nProven and Probable reserves of 8.63 million gold equivalent ounces(1),an increase of 5.9 million gold equivalent ounces after depletion, or an\n increase of 217% over 2010. Average reserve grades in the North\n American Division increased by 7%. Key new additions at the mine sites\n include:\nThe addition of 1.55 million gold equivalent ounces prior to depletion\n of 549 thousand gold equivalent ounces, including:\nThe addition of 1.01 million ounces to Proven and Probable reserves at\n Young-Davidson, and\n\n\nThe addition of 456 thousand gold equivalent ounces at Ocampo prior to\n mining depletion of 177 thousand gold equivalent ounces\n\n\n\n\nMeasured and Indicated resources of 6.36 million gold equivalent ounces, an increase of 5.4 million gold equivalent ounces, or an increase of\n 758% over 2010. Average grades in the North American Division increased\n by 15%. Key new additions at the mine sites include:\nThe addition of 1.13 million gold equivalent ounces company-wide,\n including\n\n\n407 thousand gold ounces at Young-Davidson,\n\n\n264 thousand gold equivalent ounces at Guadalupe y Calvo,\n\n\n259 thousand gold ounces at Fosterville,\n\n\n120 thousand gold equivalent ounces at Ocampo,\n\n\n81 thousand gold equivalent ounces at El Cubo\n\n\n\nInferred Resources of 5.1 million gold equivalent ounces, an addition of 417 thousand gold equivalent ounces, or an increase of\n 9% over 2010\n\nDrilling discovery cost for all reserve and resource categories at the\n four key North American operations was less than $8 per gold equivalent\n ounce\n\n\n\"Through acquisiti...