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http://www.marketwire.com/press-release/auro-resources-engages-colombian-based-exploration-group-tsx-venture-aru-1524853.htm
June 09, 2011 09:00 ET
AuRo Resources Engages Colombian Based Exploration Group
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2011) - AuRo Resources Corp. (TSX VENTURE:ARU) (the "Company") is pleased to announce that it has engaged Geoámerica Geological and Geophysical Services Ltda., to manage all of the Company's exploration activities in Colombia. Geoámerica will operate under the supervision and technical direction of GeoXplore Services S.A.S. The term of the contract is for a duration of 18 months.
GeoXplore is founded by 4 individuals, including Felipe Rodriguez Nova, Msc, Carolina Acosta, Mauricio Valencia, and Jose Cepeda. During their tenure with AngloGold Ashanti Colombia S.A., they were an integral part of the exploration team that dually discovered the 12.3 million ounce La Colosa porphyry gold deposit, and the 2.4 million ounce Gramalote gold deposit.
Mark Lawson, President & CEO of the Company, stated, "We are truly fortunate to retain a team of this exceptional caliber. They have a proven track record of multiple, multi-million ounce discoveries in Colombia and given that this team spent numerous years working in two of the key areas where AuRo has projects, we believe they will rapidly help us identify the best exploration targets going forward."
Overview of GeoXplore
GeoXplore Services S.A.S. is a Colombian based exploration services company comprised of 5 geologists; Mr. Felipe Rodriguez, Msc who spent 7 years working for AngloGold Ashanti in Colombia, and worked at La Colosa, Gramalote and other projects; Ms. Carolina Acosta whose specialty is structural geology and GIS and spent the last 5 years working for AngloGold Ashanti in Colombia; Mr. Mauricio Valencia (Structural Geologist specialist), and Jose Cepeda with wide experience in project management and project evaluation, they both were also senior geologists with AngloGold Ashanti in Colombia. Mr. Milton Obando has recently joined GeoXplore and will be 100% dedicated to the AuRo projects in Colombia. Mr. Obando also spent the last 7 years working for AngloGold Ashanti in Colombia and during his tenure also worked at La Colosa and Gramalote.
ON BEHALF OF THE BOARD
Mark Lawson, President & CEO
clarity : 
http://resourcexinvestor.com/news.php?id=8012
Colombia’s Goldrush Focuses on Auro Resources
By Nathan Pearson and Claire O’Connor
May, 26th
On the gold rich ground of mining friendly Colombia, Auro Resources Corp. (TSX-V: ARU) is expanding its already impressive strategic land package. Contiguous to the company’s flagship and drill ready property, El Tesoro, Auro’s recently acquired Argentina mine brings significant potential and diversity to the company’s combined land package. Auro has also entered into a binding letter of intent to acquire all of the issued and outstanding securities of White Gold Corp., an engagement that will amass to a large and diverse portfolio of approximately 70,000 hectares in the prolific mining district of Antioquia, Columbia. Once White Gold shareholder and exchange approval have taken place this deal will be closed.
Auro’s Tesoro
In the Northeast of the Antioquia Department - part of the Antioquia Gold District and approximately 20 kilometers from B2 Gold's (TSX-V: BTO) 2.4 million ounce Gramalote Gold Deposit - lies Auro’s flagship property, El Tesoro. The project is comprised of 15 tunnels, or small scale mines, within the concession and has an elevation of less than 1,000 meters above sea level, therefore unaffected by Law 1382 of 2010 restricting mining above 3200. Directly accessible from Medellin by highways and fully paved roads, and with power lines running through the property, El Tesoro boasts excellent infrastructure.
El Tesoro is an intrusion related bulk tonnage exploration target. The property is underlain by Jurassic diorite to quartz diorite of the Segovia Batholith bounded on the west and east margins by the north striking, regionally significant Palestina and Nus-Bagra faults. Reconnaissance mapping to date has identified gold mineralization focused along at least 3 structural orientations. These include West, West Northwest and Southwest striking veins. The property is now drill-ready.
Colombia’s Argentina
In a bid to expand its Tesoro based land package, Auro recently acquired the Argentina mine. As disclosed in a press release issued April 20th 2011, Auro Resources Corp. has entered into a letter of intent with Minerales Del Puerto, an arm’s length party, to acquire a 90% ownership interest in the Argentina mine, which is within the municipality of Puerto Berrio, Colombia.
Contiguous to the El Tesoro property, the Argentina mine is also within an elevation of less than 1,000 meters and unaffected by Law 1382. It is also extremely close to the Autopista 62, a major highway, and all necessary infrastructure.
The Argentina mine has historically produced small quantities of gold, ranging from 1.5 to 8.5 grams per tonne gold, and is dually proximal to the Palestina and Nus fault, an inactive right-lateral wrench fault more than 350 kilometers long. Recent grab samples taken and analyzed by SGS Medellin S.A. have returned results including 110.0 grams per tonne gold and 240.0 grams per tonne gold.
Pursuant to the letter of intent, Auro has agreed to pay Minerales an aggregate amount not to exceed $500,000 over 2 years and issue common shares in the capital of the company, such shares not to exceed 1.5 million common shares. The final terms of the acquisition will be contained in the definitive agreement to be entered into by the Auro and Minerales, subject to final, and ongoing legal and technical due diligence.
White Gold Ambition
Never shy of ambition, Auro has also entered into an agreement to acquire all of the issued and outstanding shares of White Gold Corp., an arm’s length private Alberta corporation engaged in gold exploration in Colombia.
Through its wholly-owned Colombian subsidiary, Oro Barracuda SAS., White Gold has solicited nearly 70,000 hectares in Colombia for mineral exploration. The concessions are a combination of concession titles and applications, located in two major gold regions of Colombia, covering parts of five departments, including nearby the California-Vetas gold-silver mining district, host to Greystar Resources Ltd.'s (TSX-V: GSL) multi-million ounce Angostura gold-silver deposit, and Ventana Gold Corp.'s (TSX-V: VEN) 3.5 million ounce La Bodega gold discovery.
The balance of properties are located in the departments of Tolima and Quindio in three distinct blocks near the La Colosa project, a 12.3 million ounce gold deposit discovered by AngloGold Ashanti Ltd. La Colosa is one of the largest new gold discoveries in South America.
Auro Management
At the head of the Auro Resources Corp. team stands President and CEO Mark Lawson. Lawson was an investment banker with Morgan Stanley in New York from 2005 until 2008 where he was involved in the execution of over $6 billion worth of mergers and acquisitions, $8 billion worth of debt offerings and $500 million of equity financings. He was also a Director of a boutique corporate finance firm in Toronto from 2003 to 2004 and a director of several TSX listed companies. Lawson received his Bachelor of Arts in Statistical Sciences from The University of Western Ontario and his MBA from The Richard Ivey School of Business, University of Western Ontario.
VP of Exploration, and a man who surely has his work cut out casting off Auro’s ambitious bow line, is Ken Thorson. Thorson boasts over 40 years experience in mining, including 15 years as a student and field geologist with Selection Trust, 3 years with Saskatchewan Mining and Development Corporation (Cameco), 21 years with Teck Corporation and eight years as a consultant. During this period, he was directly involved at the field level with the discovery of 3 ore bodies and at the management level with the discovery and development of three additional ore bodies. Prior to 2002, he worked in senior exploration management at Teck, including a 2 year period managing its world wide exploration as President of Teck Exploration Ltd. He has been involved in exploration projects for base metals, precious metals, diamonds and uranium in the Americas, Australia and Asia. Mr. Thorsen is a Professional Engineer registered in Ontario and British Columbia and is a long standing member of the Canadian Institute of Mining, the Mining Association of British Columbia and the Prospectors and Developers Association of Canada.
Mario Concha, Director, was formerly the President of Georgia Pacific's Chemical Division where he oversaw the international operations of the $700 million company. He also served as President of the International Division of GS Industries and helped lead a team that formed GS Industries out of a leveraged buyout of an Armco Steel division with over $1 billion in revenues. Concha held a variety of management positions for Occidental Chemical and Union Carbide and has been named one of the "50 Most Important Hispanics in Technology & Business" by Hispanic Engineer for past 3 years. He holds a degree in Chemical Engineering from Cornell University.
Serious Potential
An impressive band of brothers to accompany an impressive band of land, Auro Resources Corp. is slowly but surely making its mark on the coveted land of Central Colombia. In the past decade price of gold has jumped from $300 an ounce to more than $1,400 and is still hovering at record highs. For Auro to have a sizeable steak in some of the richest, gold riddled land in the world, at this historical stage in the metal’s monetary history, indicates serious potential for this exciting junior company. Follow their journey at www.auroresources.com.
For more information on Auro http://www.gorillaenergy.net/au.html
Subscribe today at http://www.resourceinvestor.com/subscribe.php
© 2010 ResourcexInvestor.
Press Release Source: CB Gold Inc. On Tuesday May 31, 2011, 10:03 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/31/11) - CB Gold Inc. (TSX-V:CBJ - News) ("CB Gold" or the "Company") is pleased to provide summary results from its drilling and geophysics program at its Vetas Gold Project, District of Santander, Colombia ("Vetas Gold Project"), located 10km South of the La Bodega and La Mascota deposits formerly owned by Ventana Gold. Drilling of the epithermal vein targets continues to intercept multiple high-grade veins of mineable thickness, including the following four high-grade veins at the Real Minera Vein System:
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From To Length Au Ag AuEq
HoleID (m) (m) (m) (g/t) (g/t) (g/t)
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RM-DDH11-015 139.05 141.73 2.68 5.48 30.82 6.02
and 162.20 164.40 2.20 5.05 25.13 5.49
RM-DDH11-016 133.30 135.30 2.00 4.81 2.81 4.86
RM-DDH11-017 134.65 143.93 9.28 11.62 2.45 11.66
including 134.65 139.87 5.22 20.50 4.17 20.57
including 135.63 136.60 0.97 109.00 15.05 109.26
AuEq calculated using the 12 month trailing average for Au and Ag through
March 1, 2011 (US$1268/oz Au and US$22.28/oz Ag). Using ratio of US$Au:US$Ag
(56.9), assuming 100% recovery of both metals and no NSR the AuEq formula
is: AuEq = Au g/t + (Ag g/t / 56.9).
These drillholes have extended the known distribution of high-grade veins to an area measuring 500 metres by 650 metres on the margins of a porphyritic intrusion in the eastern portion of the Vetas Gold Project (Drillhole location map at www.cbgoldinc.com). Several intercepts contained cm-scale aggregates of visible gold. The zone of high-grade veins remains open to the west, north and south with the vertical extent tested to a depth of only 250m.
Drilling results to date (see previous releases and above for holes 15-17) have repeatedly confirmed and delineated the presence of multiple high-grade veins, as well as strongly mineralized stockwork zones and porphyry dikes. Results are still pending for an additional 14 holes, which contain comparably encouraging visual indications of mineralization. The Company expects to drill up to an additional 20,000m this year and is adding a third drill rig to the programme.
Further drilling will focus on extending the known high grade veins further west, as well as adding to the north and south extensions of the El Dorado Vein System. Four holes have now been completed from the first platform at El Dorado, all intercepting the main vein as well as additional veins and alteration zones above and below it, and extending the depth to 350m.
Geophysical Survey Results
The Company has received the final results of the Induced Polarisation (IP) geophysical survey undertaken at the Vetas Gold Project in March and April 2011. Combined with exploration work to date including known drill results and underground sampling, the following interpretations have been used in assessing the results:
-- Chargeability highs indicate the presence of sulphide mineralization,
such as pyrite, which is associated with precious metals in the Vetas
Gold Project; and
-- Resistivity lows also indicate the potential for precious metals, being
associated with known areas of high-grade precious metal veins
Plan sections at 130m, 200m and 300m depth (Results for the chargeability, resistivity and magnetic responses are shown in the series of slides at www.cbgoldinc.com), and confirm the above interpretations - there are numerous anomalies showing chargeability highs and resistivity lows in which high grade mineralisation has been intercepted by drilling and underground mapping. A significant anomaly of combined intense chargeability high and resistivity low is present in the central properties of the Vetas Gold Project (all 100% owned by the Company) and another similar significant anomaly has been discovered in the south in an area for which the company has already signed an acquisition agreement.
The geophysics results clearly support the case for the extension of the El Dorado Veins Zone and the east-west extension of the Real Minera Vein Zone, plus several additional targets including a new and potentially significant target to the south. The geophysics interpretation is well supported by the existing results and geological understanding and gives the Company good confidence in selecting its next phase of drill targets.
Interpretation of the geophysics results was conducted by ARCE Geofisicos, the survey contractor and CB Gold's geological staff.
Fabio Capponi, Chief Executive Officer, noted, "We are very pleased that the geophysical survey is confirming our geological model and helping us target new areas of high potential - in particular the discovery of another significant anomaly in the south of the Project and with the potential to be a similar size to the known area of high grade mineralisation. The results also confirm and clarify our existing targets, and has indicated several areas for drilling which had previously been lower priority targets. The success of this survey and our on-going drilling results also confirms our decision to ramp up our exploration program with a third drill rig."
Vetas Gold Project - Geochemistry:
All the samples taken by CB Gold at its Vetas Gold Project were analyzed by ALS Chemex in Lima, Peru. The Company has a standard QA/QC program which includes blank, certified reference material and duplicate samples. The QA/QC program has been reviewed by Cumbrex Exploraciones SAC, an independent consultant specialising in QA/QC work.
The scientific and technical information on which this news release has been based was reviewed by Ms. Dorinda Bair CPG Senior Geologist of SRK Consulting and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About CB Gold Inc.
CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold Project consists of a number of existing mines (operations currently suspended) and exploration concessions, and its exploration and development activities are not affected by the proposed Regional Natural Park Paramo de Santurban.
The securities of CB Gold described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
think people will realize just how important of a find this is, since we are the first people to be drilling into vetas. The fact that this is an entirely new system not only confirms that we have a lot of gold because of existing mines on the property, but that we may have much more in the ground because we will keep on discovering new systems such as this with modern means of mining.
looks like the share price will fly today, looking at the bids when the stock starts trading again
I cant believe it, but every single hole is hitting gold! not only that but its all high grade gold, some with great intercepts such as
20 m @ 1.38 g/t Au and 1.02 g/t Ag in a dacitic porphyry stock with potassic alteration
16 m @ 1.88 g/t Au and 13.98 g/t Ag in a diortic porphyry dike with potassic alteration
and its also a massive new discovery thats never been done in that region, which is vetas.
we have silver in every hole as well, which greatly enhances our ability to make this a very profitable mine. Some say silver has a long way to run yet this year
we also have a fair bit of copper and molybdenum as well, so its a little pot pourri, which also gives us a more viable project in the future.
with a planned 15000-20000 additional drilling programs because the results are so good, we should expect plenty of interesting developments for cb gold this year
We have news that will be shortly released as well, as the ceo stated that we'd be done with our initial geochemical any day now. The result of this geochemical survey could seriously affect the share price in a positive direction should it be great and set the tone for ongoing appreciation and support in the following months.