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Aura Minerals Provides Exploration Update and Plans for 2023
ROAD TOWN, British Virgin Islands, July 18, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) is plea
About this update from Aura Minerals Inc.
[{"type":"text","content":" ROAD TOWN, British Virgin Islands, July 18, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) (“Aura” or the “Company”) is pleased to provide an update on exploration activities to date and advancement plans across its portfolio in 2023. Readers are encouraged to read the Company’s most recent Annual Information Form dated March 30, 2023 (the “2022 AIF”), which is available on www.sedar.com and the Company’s website, which includes current mineral resources and mineral reserves (“MRMR”). Highlights: Evolving Exploration Strategy to Support Future Growth Since 2018, Aura’s exploration strategy has focused on replacing depleted ounces across its core operating assets and increase LOM, while expanding production. During this time, combined proven and probable mineral reserves increased by 59% and combined measured and indicated mineral resources have increased by 194% as result of investment in exploration increasing from about US$8 million in 2018 to US$22 million in 2022, taking advantage of over 650,000 hectares of under-explored mining rights across its portfolio. In 2022, Aura’s exploration initiatives played an increasing role in its capital allocation strategy, forming a solid basis for future growth including: 123,895 meters drilled across greenfield and brownfield projects. Increased mineral reserves and mineral resources, with over 100% conversion of inferred mineral resources into measured and indicated mineral resources. New targets identified both surrounding mine workings and regionally across the portfolio, through soil sampling, mapping, and geophysics. Important mineral rights acquisitions at EPP Mines to potentially expand the mineral footprint, and at Matupá to test the regional potential. New projects were added to the exploration pipeline including the Borborema Project (located in Rio Grande do Norte, NE Brazil), and Serra da Estrela Copper Project in the prolific Carajás region, to support future growth in mineral resources and mineral reserves and new discoveries. 2023 Objectives With a strong foundation and increased confidence in the exploration pipeline as result of successful exploration programs particularly especially in the last 2 years, Aura has increased its exploration budget for 2023 to between US$22 million and US$26 million and is planning an additional 110,000 ...