Business
Aura Announces New Corporate Strategy, Share Consolidation and Name Change
Ottawa, Ontario--(Newsfile Corp. - October 24, 2018) - Aura Silver Resources (TSXV: AUU) ("Aur...
About this update from West Point Gold Corp.
[{"type":"text","content":"Aura Announces New Corporate Strategy, Share Consolidation and Name ChangeOttawa, Ontario--(Newsfile Corp. - October 24, 2018) - Aura Silver Resources (TSXV: AUU) (\"Aura\" or the \"Company\") announces that it is in the process of implementing a new corporate strategy which is intended to address both the internal and external challenges to Aura's ability to create value for its shareholders. Aura believes that both of its historical projects, Greyhound in Nunavut, Canada and Taviche in Oaxaca, Mexico are projects of merit. The Greyhound project is being explored by Agnico Eagle via a joint venture which has now been in place for over four years. Agnico Eagle's infrastructure at their Meadowbank mine, located 32 km north of Greyhound, allows for methodical exploration using their in-house knowledge in addition to significant cost advantages that, owing to the short exploration season and logistical challenges of operating in the north, would be difficult for any other company to achieve. A summary of the 2018 exploration program undertaken by Agnico Eagle is expected shortly. Robert Johansing, President and CEO of Aura, stated, \"Both Aura and Agnico Eagle remain committed to the Greyhound project and we are pleased that Agnico Eagle continues to invest in this prospective venture. While Aura continues to hold its interest in the Greyhound project the emphasis of our new corporate strategy is to add new projects where Aura will be able to have direct input and control over exploration programs and their advancement\".Aura's Taviche project, in Oaxaca, Mexico, is another solid exploration project. The Company continues to believe that deeper drilling is required and that the currently identified gold and silver mineralization is a distal manifestation of a larger, primary target. Over the past several years, Aura has dedicated significant financial resources to maintain its land position and corporate status in Mexico but has not been able to advance the exploration program required at Taviche due to funding limitations. Aura is now aggressively pursuing a joint venture partner for the Taviche project to ensure that Aura can benefit from its achievements and investment in past exploration programs at Taviche. Aura anticipates providing an update on joint venture developments when arrangements are finalized.Upon recently acceptin...