Aura Resources Discovers New Base Metal - Gold Targets on Its Greyhound Property, Nunavut

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[{"type":"text","content":"Aura Resources Discovers New Base Metal - Gold Targets on Its Greyhound Property, NunavutOttawa, Ontario--(Newsfile Corp. - February 26, 2019) - Aura Resources Inc. (TSXV: AUU) (\"Aura\" or the \"Company\") announces a newly discovered base metal and gold target on the Greyhound project, a partnership with Agnico Eagle Mines Limited (\"Agnico Eagle\"). Agnico Eagle, the project operator, has completed an extensive set of induced polarization (\"IP\") geophysical surveys, including a previously untested area in the central part of the property (Figure 1). These new data, combined with Aura's earlier discovery of Zn-Cu-Ag-rich boulders (see table, Figure 1), a gold-rich vein system, field mapping and lithogeochemical sampling have enabled the identification of an excellent exploration target. Figure 1: Location of new IP results, alteration features, high-grade boulders and a gold-bearing vein system, Greyhound property, Whitehills Lake area, Nunavut. To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5717/43033_e28d9ae1345e088e_002full.jpgDuring the initial phase of exploration in 2006, Aura discovered a series of massive sulfide boulders, ranging from 50 cm to one metre in diameter, in a dry stream channel immediately adjacent to the all-weather road to the Meadowbank mine. Analytical data for these (see table, Figure1) illustrate their high base metal contents. Field examination determined that these were glacially transported from the east, based on the measurement of glacial striae and key soil geochemical indicators (see Aura PR #18-12, December 3, 2018). Given the fragility of these boulders, the transport distance is most probably approximately 2 kilometres. The recent IP survey in this area has identified three en echlon distinctly conductive areas (Figure 1). The footwall strata beneath these geophysical targets are strongly Na and Eu depleted, excellent indicators of a VMS-type hydrothermal discharge system. One outcrop to the west is Eu enriched, a possible indicator of hangingwall alteration. Outcrop in this area of the Archean Meadowbank Formation is sparse (see Geology, Half Way Hills and Whitehills Lake area, Nunavut; Zaleski, E.; Pehrsson, S.; Geological Survey of Canada, \"A\" Series Map 2069A, 2005). A sample from a distinctive quartz vein system immediately to the south ...

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