Auriga Gold (AIA-V) gave delivered some eye-popping grades to the market from its on Maverick gold project in Manitoba, and the market responded accordingly.
The highlight results came out of hole A4-02 as it assayed 7.63 metres grading 9.22 grams gold. The hole also intercepted 1,830 grams gold over 0.5 metres
Other highlights included 5.20 metres grading 12.27 grams gold; 6.43 metres grading 5.10 grams gold gold, and 5.55 metres grading 9.55 grams gold out of three separate holes.
All of the intercepts occurred at depths of 63 metres or less and came out of the Nokomis deposit, which is 7-km northeast of the Puffy lake deposit. Puffy lake and its 1,000 tonne per day on-site mill are both owned by Auriga and are currently being pushed towards development.
The company says Nokomis is likely amenable to open pit mining and it displays consistently wider intercepts than the Puffy Lake deposit.
Also encouraging is the fact that, thus far, the deposit looks like it could be the beginnings of a regional size gold mineralized structure on the north boundary of the Flin Flon greenstone belt.
Auriga has just wrapped up a 19 hole program that drilled 1,300 metres at the deposit.
The company is currently in the midst of doing a feasibility on Puffy Lake Mine with the aim of bringing the mine back into production.
In Toronto on March 1 the company’s shares were up 16% or 4¢ to 30¢ on 617,550 shares traded.
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