Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 22, 2011) – AuRo Resources Corp. (TSX VENTURE:ARU)(FRANKFURT:NXP3) is pleased to announce that it has been granted titles to three key properties by the Secretary of Mines, at its 14,077 hectare Arboledas Gold Project in Norte De Santander Department, Colombia. These key concessions granted comprise a total of 1,881 hectares and are located approximately 18 kilometers north of CB Gold’s (TSX VENTURE:CBJ) 800 hectare Vetas Gold Project in Santander, Colombia. The titles are 100% owned by AuRo’s Colombian subsidiary, Oro Barracuda, through contracts with the Colombian government, and are not option agreements with local vendors. The concessions are all below 3,200 metres in elevation.
The Arboledas Gold Project consists of five 100% owned titles, located in the departments of Norte de Santander and Santander. At Arboledas, gold has been identified in areas where active artisanal mining has been occurring. Small-scale miners are targeting north-east striking, oxidised, subvertical veins hosted in feldspar porphyry. These workings consist of 8 adits, in which oxidised quartz veins and clay structures up to 1 meter wide have been observed.
Exploration has been focused on structurally controlled, intrusive related epithermal gold and gold-silver mineralization. Gold mineralization is associated with a system of northeast to southwest trending fault systems. Several intrusive bodies have been identified at Arboledas that are closely related in age and composition to intrusives that host significant gold-silver mineralization in the region, including CB Gold Inc.’s (TSX VENTURE:CBJ) Vetas Project, Eco Oro Minerals’, (formerly Greystar) Angostura Project, AUX’s La Bodega and La Mascota deposits (formerly owned by Ventana Gold), and Galway’s California gold discoveries. These aforementioned discoveries are located approximately 12 kilometres south of the Arboledas Project.
The content of this news release has been reviewed by Mr. Ken Thorsen, P. Eng., who serves as the Qualified Person in accordance with National Instrument 43-101.
About AuRo Resources Corp.
AuRo Resources is a mineral exploration company with major land positions in Colombia’s leading gold camps. The Company holds property interests in three of the country’s most prolific gold regions in Antioquia, Tolima-Quindio, and Santander-Norte de Santander. AuRo shares trade on the TSX Venture Exchange under the symbol ARU. For further information please visit www.auroresources.com.
ON BEHALF OF THE BOARD
Mark Lawson, President & CEO
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 or accuracy of this release.
