Aura Silver Resources Inc. is pleased to report that drilling has resumed on our Greyhound property located in Nunavut Canada.
Agnico Eagle Mines Limited has begun a program to follow up on results just east of Aura Lake where mineralization of 6.41 g/t gold (check assay resulted in 7.4 g/t gold) was intersected over 1.5 metres at the bottom of a drill hole at a vertical depth of approximately 137 metres (please see November 24, 2015 press release). This gold intercept lies within an altered zone composed of quartz-stock work of 15 metres of core length. In addition, two drill holes to the northeast of Aura Lake and to the north of our Dingo project will determine the potential of a 15.0 gram per tonne gold sample taken from a quartz vein structure on surface.
In accordance with the terms of the existing option agreement, Agnico Eagle will cover all costs of this drilling and associated work. This will finalize the earn in agreement that requires a total of $1,750,000 to be spent on the property by May 31, 2017, at which point Agnico Eagle will acquire 51% of the Greyhound property. The current program is anticipated to comprise approximately 1,500 metres of drilling within 8-10 drill holes at a total exploration cost of about one-half million dollars.
Mr. Paul Pitman, B.Sc., P.Geo. is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release regarding the Greyhound project.