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.
TORONTO, ONTARIO–(Marketwire – Aug. 31, 2011) – Augen Gold Corp. (the “Company” or “Augen Gold”) (TSX VENTURE:GLD) is pleased to announce that it has filed a National Instrument 43-101 compliant technical report entitled “Technical Report on a Resource Estimate of the Jerome Mine Property”, dated effective July 18, 2011 (the “Jerome Report”) in connection with the NI 43-101 compliant Mineral Resource Estimate for the Company’s Jerome Mine previously announced on July 18, 2011. The Jerome Report is available on the Company’s website and on SEDAR at www.sedar.com.
About Augen Gold
Augen Gold is a gold exploration company with 23,685 hectares of staked and patented mining claims in the Southern Swayze Greenstone Belt, including the formerly producing Jerome Gold Mine. The claims cover a 45-kilometre long section of the Ridout Deformation Zone, believed to be the western extension of the Kirkland Lake/Larder Lake Break. The geological setting is comparable to the major gold camps of Timmins and Kirkland Lake, and the claims contain numerous gold showings that have received very little historical exploration. Augen Gold is the first company to have assembled such a coherent ground position. Augen Gold has performed a detailed airborne geophysical survey over the whole area. The correlation of many gold showings with geophysical features indicates excellent potential for the discovery of additional deposits. The Company’s objectives are to aggressively explore the gold showings that correlate with geophysical anomalies, continue resource definition at the Jerome Mine, and to expand its property portfolio with highly prospective mineral assets.
For more information on Augen Gold, visit our website at www.augengold.ca. Read our blog at www.augengold.wordpress.com, and follow us onwww.twitter.com (#augengoldcorp).
