AURIS AG
Auris AG completes current exploration phase on the Pangoy project in the Democratic Republic of the Congo
AURIS AG / Key word(s): Miscellaneous/Miscellaneous Basel, 7th December Auris AG completes current exploration phase on the Pangoy project in the Auris AG is pleased to announce that the first phase project appraisal has been successfully completed on the Pangoy project. Utilising satellite imagery, Auris is identifying further exploration targets which have been generated for the next phase of work; these have been developed from the high grade results taken from the first phase of exploration. The results of this exploration phase indicates that artisanal activity has taken place in the past and has increased markedly on the property throughout 2011. The Auris Pangoy gold property occupies a prime position within an area known to be the host of several world class gold deposits, and based on new indicators, Auris believes it has the potential of joining the group of companies with world class, multi million ounce gold deposits. (Please be advised) GEOLOGICAL PICTURES AND SCHEDULES ARE AVAILABLE ON OUR HOMEPAGE www.aurisag.ch The results to date have indicated that several high grade gold occurrences occur over the tenement area. (Please be advised) GEOLOGICAL PICTURES AND SCHEDULES ARE AVAILABLE ON OUR HOMEPAGE www.aurisag.ch Auris intends to systematically carry out regional exploration over the tenement area to locate and define new target areas. Auris has initiated follow up work on the previously delineated target clusters at Elota, Pangoy and Matale. All of these areas have reported significant gold occurrences and host many areas of past and current intense artisanal gold mining activity. During this latest phase of work the focus was on the Pangoy group of targets where previous exploration had noted several gold occurrences. Priority areas within the Pangoy group include Sun City, where several mineralised quartz veins have been located and mapped, as well as the area near the Pangoy town, where concentrated artisanal activity is currently taking place in open pits. Previous exploration had noted a series of large pits at Pangoy, now known as QV1, and during the most recent phase of exploration, a second set of gold bearing veins, notated as QV2, were being excavated by the artisanal workers. The latest discovery shows the gold bearing quartz veining (QV2) to be sub parallel to the Pangoy QV1. Hanging wall and footwall samples were taken from QV2 in an effort to determine the level of mineralisation within host rocks. The current research was based on previous exploration results in the Pangoy target area where chip samples at the Pangoy pit areas reported high grade gold values from mineralised quartz Remote sensing imagery is critical due to the nature of the location as well as the development of the project. By the application of various spectral analytical methods, Auris has been able to locate numerous areas for follow up investigation. A digital elevation map obtained by SRTM radar mapping has been essential to regional appraisal of the Pangoy project. The illustration, as indicated below, shows how Auris is utilising the satellite imagery for the Pangoy project area. (Please be advised) GEOLOGICAL PICTURES AND SCHEDULES ARE AVAILABLE ON OUR HOMEPAGE www.aurisag.ch All samples were selected from the mineralized quartz veins as well as hanging and footwall host rocks that have been exposed by the local artisan miners. The recent samples are currently in the laboratory for analysis. In previous work within the Pangoy area, other targets that produced significant gold results were: Tepe area where pit samples up to 25.3 g/t Gold were recorded. Sohuma where high grade alluvial samples were collected from drainage systems with visible, free, gold noted with grades up to 62.8 g/t recorded. Auris plans to soil sample the surrounding area in an effort to isolate the source of the gold and then to test any anomalies by trenching and drilling The artisanal gold production activity at Pangoy, Sun City, Tepe, Itembo, Makamanda, Liberation, Pretoria and Libaku will be trenched to delineate the mineralised quartz veins and thus establish potential drilling targets. Drilling is planned for 2012 and these results will create the establishment of a resource base for the area. In the image below, the orange colored pixels represent spectral wave band ratio’s designed to indicate iron oxides and clay minerals. A good illustration of this is shown by the comparison of the images from December 2010 and that of October 2011 which shows that the new area, Liberation, which is located south of Tepe, has become the focus of increased and intense, artisanal activity. These areas will be investigated by Auris in the next exploration phase. (Please be advised) GEOLOGICAL PICTURES AND SCHEDULES ARE AVAILABLE ON OUR HOMEPAGE www.aurisag.ch Auris will continue to evaluate the project by utilising satellite imagery and follow up field work by mapping and sampling. Auris believes that Pangoy has the potential to host high grade gold mineralisation and could lead to the development of multiple significant gold deposits. On behalf of the Board, Disclaimer End of Corporate News 08.12.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. 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149139 08.12.2011 |