AndhraNews.net
Home » Business News » 2011 » June » June 16, 2011

AuRo Resources (TSXV:ARU) Poised to Succeed in Colombia with Properties, Financing and Geological Team in Place - Video Highlights of Resourcexinvestor Report Posted on InvestmentPitch.com


June 16, 2011 - London

Vancouver, British Columbia, June 16, 2011 - AuRo Resources (TSXV:ARU) was featured in a report issued by Resourcexinvestor.com.Nathan Pearson, publisher of ResourceXinvestor believes the company's large land position in Colombia, South America combined with a new geological team indicates serious potential for this exciting junior company.

 

InvestmentPitch.com has posted a "video news alert" about AuRo Resources, including highlights from this report. If this link is not enabled, please visit www.investmentpitch.com and enter "AuRo" in the search box.

 

The company recently closed on an agreement to acquire all of the issued and outstanding shares of White Gold Corporation, an arm's length privately owned Alberta corporation engaged in gold exploration in Colombia.

 

White Gold has nearly 70,000 hectares, located in two major gold regions of Colombia, with the 20,000 hectare Surata Gold Project located approximately 10 to 25 kilometres from Ventana Gold's 3.5 million ounce (inferred) La Bodega gold project and Greystar's Angostura gold project. Initial samples from Surata include sulphide bearing quartz veins with assays up to 3.06 grams per tonne gold.

 

Their 14,000 hectare Arboledas Gold Project is located about 18 kilometres north of the La Bodega and Angostura deposits, and has had gold identified in areas exposed by landslides and active artisanal mining.
Small-scale miners are working north-east striking oxidised, subvertical veins hosted in feldspar porphyry. Workings consist of eight adits which are targeting oxidised quartz veins and clay structures up to one metre wide.

 

Their 31,000 hectare La Colosa Gold Projects (Tolima and Quindio) are located south, east and west of AngloGold Ashanti's La Colosa gold discovery, which reported resources of 12.3 million ounces, making it the largest new gold discovery in Columbia. White Gold's closest group of concessions are approximately twelve kilometres from AngloGold's La Colosa deposit.

 

Mark Lawson, President & CEO stated, "This is a very important transaction as the combined AuRo Resources & White Gold now possess the 3rd largest land package in Colombia, of the public comparables. These are contiguous concessions in 2 of the most prolific areas in Colombia which is extremely opportune as Ingeominas (the Colombian Institute of Geology & Mining) is not currently accepting any more concession applications."

 

Prior to this transaction, AuRo's property portfolio already included the 848 hectare, drill-ready El Tesoro project, located about 20 kilometres from B2Gold's 2.4 million ounce Gramalote Gold deposit. The project is comprised of 15 tunnels, or small scale mines, within the concession and has an elevation of less than 1,000 metres above sea level, therefore unaffected by the regulations that restrict mining above the 3,200 metre level. With the property now drill-ready, AuRo has commissioned Colombia Perfotec to begin drilling on Tesoro in late June.

 

In April, they added a 90% interest in the Argentina Mine, which is contiguous to the company's flagship El Tesoro project. The Argentina mine has historically produced small quantities of gold, ranging from 1.5 to 8.5 grams per tonne gold. Recent grab samples from this property returned results including 110 grams per tonne and 240 grams per tonne gold.

 

With an extensive portfolio of properties, and approximately $2.5 million in gross proceeds from a recent non-brokered private placement, the company put the final piece in place by acquiring the services of Colombia based GeoXplore to manage all exploration activities in Colombia.

 

The principals of GeoXplore have extensive backgrounds in Colombia, having worked on projects such as AngloGold Ashanti's La Colosa and B2Gold's Gramalote discoveries.

 

For a copy of Nathan Pearson's report, please visit www.resourcexinvestor.com. For a more information on AuRo Resources, please visit their website or phone 604-893-8838.

 

CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com





This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: InvestmentPitch via Thomson Reuters ONE

HUG#1524112

GlobeNewswire

Comment on this story

Share