Ndablama delivers further high grade gold intercepts from phase three drilling programme

TSX : AUE
AIM : AUE

TORONTO, July 11, 2013 /CNW/ - Aureus Mining Inc. (TSX: AUE / AIM: AUE) ("Aureus Mining" or the "Company") is pleased to announce the results from its eighteen hole, phase three diamond drilling programme at the Ndablama gold target ("Ndablama"). Ndablama is located within the Company's 100% owned, Bea Mountain Mining licence in Liberia, and is situated approximately 40 km north-east of Aureus' flagship New Liberty Gold project.

Highlights

  • Results received from 18 diamond drill holes (2,327m in total) which form the phase three programme primarily designed to test grade, width and geological continuity of the  Main Zone ("MZ") at the Ndablama gold target

  • Significant new results, mainly from shallow intercepts, include:
    • 16.7 g/t over 11.0m from 108.0m
    • 4.1 g/t over 43.0m from 78.0m
    • 9.7 g/t over 14.0m from 78.0m
    • 4.3 g/t over 27.0m from 70.0m
    • 2.6 g/t over 18m from 89m
    • 2.5 g/t over 18m from 52m
    • 2.4 g/t over 17m from 68.0m
    • 2.3 g/t over 15.0m from 83.0m
    • 5.5 g/t over 12.0m from 51.0m
    • 3.4 g/t over 9.0m from 67.0m
    • 2.2 g/t over 10m from 66.0m
  • The MZ has a very shallow westerly dip and has so far only been drilled to a maximum vertical depth of 130 metres below surface

  • Current drilling at MZ has highlighted the presence of multiple, closely spaced, zones which when combined show broad mineralised envelopes of 20 to 80 metres

  • Current and historical drilling and trenching has outlined a total of approximately one kilometre of continuous gold mineralisation in three north trending zones which dip shallowly to the West
    • The MZ has been defined for 500 metres and down dip for 150 metres and is open in all directions. Multiple mineralised intervals have been intersected with widths of three to over 40 metres

    • The South East Zone ("SEZ") is outlined over 200 metres and hosts thin zones of three to ten metres which can be traced down dip for up to 100 metres and are still open to the west

    • The North Zone ("NZ") is outlined over 300 metres and hosts multiple zones of three to ten metres down to depths of 60 metres
  • Resources will be defined for Competent person sign off in Q4, 2013 and follow up work will be defined once resource potential has been assessed
     
  • The Ndablama target is located within a distinct 13km belt of gold in soil anomalies which straddle the geological contact between metamorphosed volcanic rocks and a regional granite batholith. Six gold targets have been subject to follow up exploration programmes and drilling has been undertaken at three of these: Gondoja, Ndablama and Leopard Rock. To date, less than 15% of the potential strike length has been drill tested


Commenting on the Ndablama results, David Reading, President and Chief Executive Officer of Aureus Mining, said:

"These results are excellent and not only highlight the potential for wide, high grade zones, but also, with the shallow dip, present considerable opportunity to increase the size of this deposit with further drilling. Ndablama forms part of a 13km gold belt and we believe we have located a new goldfield situated only 40 kilometres from the New Liberty Project."

Drilling improves our understanding of the geometry and grade of the Main Zone and highlights the potential for wide, shallow dipping, gold mineralised bodies.

Ndablama Background

The Ndablama gold target is located within the Company's 457 km2, 100% owned, Bea Mountain Mining licence in Liberia, and is situated approximately 40 kilometres north-east of Aureus' flagship New Liberty Gold project. Historically 36 diamond drill holes covering 6,012 metres and 63 trenches for 3,967 metres have been completed at the dablama gold target.

Drilling and trench results to date have outlined multiple gold intercepts associated with three mineralised zones referred to as the NZ, MZ and SEZ. In each zone the mineralised system strikes in a Northerly direction and dips westwards at shallow angles ranging between 30 and 45 degrees. The NZ is outlined over 300 metres and hosts multiple zones of three to ten metres down to depths of 60 metres. The MZ has been defined for 500 metres and down dip for 150 metres and is open in all directions. Multiple mineralised intervals have been intersected with widths of three to over 40 metres. The SEZcan be followed for 200 metres and hosts thin zones of three to ten metres which can be traced down dip for up to 100 metres and are still open to the west

A phase three drilling programme was recently completed at Ndablama for 18 diamond drill holes and 2,327 metres. The phase three programme was primarily designed to test the down dip extension of the MZ over the 500 metres of strike. Phase three drilling also included three holes in the SEZ and some infill holes in the MZ. The Phase 3 drilling has outlined multiple gold intercepts and these results are presented in table one below:

Table 1: Ndablama Phase Three Drill Results

           
Borehole Values are Reported from North to South.
Borehole ID     From (m)       To (m)      Intersection
   Length (m)
        Au
        (g/t)
       Mineralised zone   
NDD048                                   65                   78                          13                2.0 Main
and 104 109 5 5.4 Main
NDD045 78 92 14 9.7 Main
including 84 92 8 16.5 Main
NDD046 63 74 11 0.5 Main
and 119 120 1 1.3 Main
NDD040 71 84 13 0.6 Main
and 99 101 2 1.9 Main
NDD043 12 15 3 0.7 Main
and 28 32 4 0.5 Main
NDD044 62 75 13 1.0 Main
and 83 98 15 2.3 Main
including 86 93 7 4.3 Main
and 116 120 4 2.1 Main
NDD037 13 16 3 3.1 Main
and 61 68 7 1.2 Main
NDD039 57 59 2 1.1 Main
and 67 80 13 2.4 Main
including 67 76 9 3.4 Main
and 89 107 18 2.6 Main
including 95 100 5 4.8 Main
NDD054 52 70 18 2.5 Main
including 52 56 4 8.5 Main
and 78 121 43 4.1 Main
including 78 90 12 9.0 Main
NDD047 41 46 5 0.7 Main
and 51 63 12 5.5 Main
including 70 97 27 4.3 Main
NDD042 68 85 17 2.4 Main
including 70 77 7 4.5 Main
and 92 97 5 1.0 Main
and 108 119 11 16.7 Main
and 142 146 4 4.4 Main
NDD041 35 40 5 1.0 Main
and 44 49 5 0.9 Main
NDD050 77 81 4 3.2 Main
and 94 103 9 1.6 Main
including 99 103 4 3.4 Main
NDD038 57 60 3 1.8 Main
and 72 79 7 0.9 Main
NDD049 83 88 5 0.6 Main
NDD051 85 88 3 2.0 South Eastern
NDD052 66 76 10 2.2 South Eastern
and 93 95 2 1.3 South Eastern
NDD053 59 61 2 0.6 South Eastern
and 94 100 6 3.4 South Eastern
Assay grade data is un-cut
           

The following highlights are noted from the drilling results:

  • The diamond drilling cores outline a meta-volcanic package of ultramafic and mafic rocks. The mafic package consists of Amphibolite Schists and Gneisses which envelope a series of Ultramafic Schists. The Ultramafic rocks have been subdivided into magnetite rich and magnetite poor zones. The ultramafic and mafic rocks are located close to the contact with a large granitic batholith to the East. The Metavolcanic sequence has been intruded by granitic sills
  • Gold intercepts occur at the contact between the mafic and ultramafic rocks, within altered ultramafics and in association with brecciated granitic intrusives. Gold mineralisation is associated with shearing, breccia's, disseminated sulphides and hydrothermal alteration. Pyrrhotite is the dominant sulphide mineral and occurs as disseminations throughout the mineralised zone. Alteration is consistently defined by silicification, Magnetite destruction, Phlogopite and Chlorite
  • Phase three results show wider zones and higher grades than those reported in phases one and two and this is related to the intensity of deformation. In the east and closer to the granite contact the deformation is more intense and the highly sheared rocks display weaker mineralisation. As the drilling moves away from this contact and down dip the strain intensity decreases and in these less deformed areas the mineralisation is broader and the grade improves
  • Alteration and shearing within the MZ are associated with multiple gold intercepts in each borehole. The closely spaced gold intercepts define a broad mineralised envelope of between 20 and 80 metres in true width
  • Three holes (NDD051-53) were drilled into the SEZ and intercepted thin zones (3 to 10m) at vertical depths of 50 metres below the surface. Deformation is more intense at these depths within the SEZ

Previous drilling and trenching from the phase one and two programmes at Ndablama were reported in the Company's press release of September 10, 2012 and included 36 diamond drill holes covering 6,012 metres and 63 trenches for 3,967 metres. Highlights from these historical drilling and trenching programmes are presented in tables 2 and 3 below. For a summary of all results from phases one and two the Company refers the reader to the September 10, 2012 press release

Table 2: Significant Ndablama Phases One and Two Drill Results

                           
Borehole Values are Reported from North to South.                  
Borehole ID  From (m)                  To (m)                  Intersection
           Length (m)
             Au g/t                  Mineralized Zone
NDD025           16            35                       19         1.1                 Northern
including 18 22 4 3.5                 Northern
and 39 45 6 1.8                 Northern
NDD14 4 12 8 1.1                 Northern
NDD018 35 38.7 3.7 2.0                 Northern
NDD10 26 43 17 1.2                 Main
and 65 73 8 1.3                 Main
NDD020 49 62 13 1.4                 Main
including 57 60 3 2.9                 Main
and 82.2 87.2 5 2.1                 Main
NDD12 24 38 14 2.9                 Main
NDD016 49.5 60.5 11 7.1                 Main
NDD06 64 69 5 2.6                 Main
and 90 99 9 1.6                 Main
NDD07 16 22 6 1.8                 Main
and 26 44 18 1.3                 Main
NDD017 53 65.8 12.8 1.2                 Main
and 67.6 72 4.4 2.3                 Main
NDD11 17 20 3 4.2                 Main
and 29 32 3 5.4                 Main
and
NDD02
40
14
50
30
10
16
2.8
2.4
                Main
Main
and 38 54 16 1.2                 Main
and 64 67 3 8.7                 Main
NDD027 32 47 15 1.6                 Main
NDD01 2 9 7 1.4                 Main
and 49 53 4 1.4                 Main
and 56 60 4 2.8                 Main
NDD029 23 28 5 1.2                 Main
and 42 45 3 4.3                 Main
and 47 51 4 1.9                 Main
NDD03 20 28 8 6.0                 Main
and 45 49 4 1.9                 Main
NDD030 23.7 27 3.3 4.8                 Main
NDD031 12.6 14 1.4 4.7                 Main
NDD033 13.3 15 1.7 2.1                 South Eastern
and 28 32 4 3.2                 South Eastern
NDD035 42 47 5 2.0                 South Eastern
NDD036 30.8 33 2.2 7.6                 South Eastern
and 41 43 2 1.5                 South Eastern
NDD09 31 41 10 2.3                 South Eastern
Assay grade data is un-cut                          
                           

Table 3: Significant Ndablama Trench Results

         
Trench Values are Reported from North to South.                                       
Trench ID From (m)       To (m)        Intersection
Length (m)
Au g/t
NT30 15 17 2 9.4
NT29 115 148 33 0.8
and 122 134 12 1.3
NT62 30 39 9 2.1
NT17 68 150 82 2.1
including 132 147 15 4.8
NT43 76 87 11 3.8
and 116 124 8 1.3
NT21 12 20 8 1.0
and 38 45 7 1.1
NT16 60 67 7 1.0
NT13 0 12 12 2.3
and 34 89 55 2.2
and 113 121 8 1.2
NT7 0 24 24 1.8
NT3 0 44 44 1.0
including 36 43 7 1.8
NT1 0 70 70 1.4
including 4 12 8 5.2
NT2 16 86 70 1.1
NT48 38 45 7 2.3
NT9 56 88 32 1.1
NT36 60 70 10 2.0
NT32 137 147 10 7.8
NT10 36 55 19 1.5
Assay grade data is un-cut
         

Exploration work at Ndablama has now stopped due to the onset of the rainy season. Geological and grade modelling will be undertaken to determine Resources and assess the potential of the Ndablama target. This work will be evaluated by an independent Qualified person in Q4, 2013.

The following diagrams illustrate the location, geology and mineralisation of the Ndablama Gold Target in plan view and in section.

http://aureus-mining.com/wp-content/uploads/2013/07/Location-of-Ndablama-Target.png
http://aureus-mining.com/wp-content/uploads/2013/07/BEA_NDA_TRN_2_A.png
http://aureus-mining.com/wp-content/uploads/2013/07/BEA_NDA_DRL_5_B.png
http://aureus-mining.com/wp-content/uploads/2013/07/Section_44.png
http://aureus-mining.com/wp-content/uploads/2013/07/Section_39.png
http://aureus-mining.com/wp-content/uploads/2013/07/Section_54.png
http://aureus-mining.com/wp-content/uploads/2013/07/Section_42.png

Ndablama is situated within a thirteen kilometre gold corridor with multiple gold targets.

A 13km by 2km geochemistry survey has demarcated a continuous zone of gold in soil anomalies with values up to 6 g/t. This work has outlined multiple targets which require follow up trenching and drilling programmes. To date work has been undertaken at six targets which include Ndablama, Gondoja, Leopard Rock, Ndablama North, Koinja and Gbalidee. Previously results have been published from reconnaissance drilling programmes undertaken at Leopard Rock and Gondoja. As with Ndablama the drilling confirmed that the soil anomalies are associated with bedrock mineralisation and that the geology and style of mineralisation is very similar to that observed at Ndablama. To date less than 15% of the gold corridor has been drill tested. Highlights of the previous and historical drill results at Gondoja and Leopard Rock are presented in tables 4 and 5 below:

Table 4: Significant Gondoja Drill Results

         
Borehole Values are Reported from North to South.
Borehole ID            From (m)         To (m)             Intersection  
         Length (m)
         Au g/t    
GD-4                   74          110                     30        3.9
GDD010 72.8 75.8 3 14.8
GDD003 58.7 63 4.3 3.6
and 87 90 3 2.9
GDD001 62 65 3 2.2
and 90 96 6 11.7
GDD002 15.2 27 11.8 1.3
Assay grade data is un-cut
Note: GD1-GD5 are historical boreholes
         

Table 5: Significant Leopard Rock Drill Results

         
Borehole Values are Reported from North to South        

Borehole ID        From (m)       To (m)        Intersection           
Length (m) 

Au g/t  
LDD001 2        22      20 1.9
and 52 61 9 1.9
including 56 59 3 5.0
LDD004 79 83 4 5.5
and 87 91 4 17.6
LDD005 2 10 8 1.0
and 42 44 2 10.4
LDD006 24 35 11 1.7
and 39 43 4 1.1
and 56 59 3 9.5
LDD007 26.6 33 6.4 1.0
LDD009 107 113 6 9.4
including 107 111 4 13.9
LDD011 116.5 126 9.5 1.3
LDD014 15 25.3 10.3 1.0
and 35 39 4 4.8
LDD016 93.2 95.2 2 4.4
LDD019 40.8 50 9.2 1.4
LDD020 57 64 7 1.0
LDD024 0 11.5 11.5 1.0
LDD026 67 77 10 2.8
Assay grade data is un-cut.
         

The airborne geophysical data covering the gold corridor clearly demonstrates that the hook shaped zone of gold anomalism is related to the contact zone between the Ndablama granite batholith and the Meta-volcanic sequences. This contact zone has been deformed and where it has been drill tested demonstrates the presence of gold mineralisation, shearing and hydrothermal alteration. In the Ndablama to Leopard rock area the Metavolcanic sequences locate within an interpreted pressure shadow occurring at the apex of the Ndablama granite. From Ndablama North to Gondoja, a distance of seven kilometres, the gold in soil anomalies are associated with a NE trending linear shear zone at the contact between the granite batholith and the Meta-volcanic sequences.

The following diagrams illustrate the gold in soil results, geology and geophysics within in the Gold corridor:  

http://aureus-mining.com/wp-content/uploads/2013/07/NDD_Soils.png
http://aureus-mining.com/wp-content/uploads/2013/07/Total-Count-Interpretation-With-Soils-Anomalies.png

Qualified Person
The Company's Qualified Person responsible for preparing this release is David Reading, who holds a MSc in Economic Geology from University of Waterloo, Canada and is a Fellow of the Institute of Materials, Minerals and Mining. David Reading is the President and CEO of Aureus Mining Inc. and consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

Assay and sampling information are taken from the Company's database as prepared on New Liberty site by the project geologists. Drill core is split on site and sent under custody to SGS Laboratory in in Monrovia where pulps are prepared and analysed by fire assay with an atomic absorption finish. Quality control and quality assurance procedures include the regular and methodical implementation of field duplicates, blank samples, standards and laboratory repeats as well as the regular and specific programmes of re-assaying and umpire laboratory assaying. 

About Aureus Mining Inc.

The Company's assets include the New Liberty gold deposit in Liberia (the "New Liberty Gold Project" or the "Project"), which has an estimated proven and probable reserve of 924,000 ounces of gold grading 3.4 g/t and an estimated measured and indicated mineral resource of 1,143,000 ounces of gold grading 3.63 g/t and an estimated inferred mineral resource of 593,000 ounces of gold grading 3.2 g/t. A Definitive Feasibility Study has been completed on the Project and construction has commenced with initial earthworks. The Project is expected to have an 8 year mine life and annual production of 119,000 ounces for the first 6 years of production. The Company has financed the Project's equity funding requirement and has mandated two banks for the remaining debt balance.

The New Liberty Gold Project is located within the 100% owned Bea Mountain mining licence, which covers 457 km² and has a 25 year, renewable, mineral development agreement. The Bea Mountain mining license also hosts the proximal gold targets of Ndablama, Gondoja and Weaju, which are the focus of exploration programs during 2013. The contiguous Archaen Gold exploration licence, which covers 89 km², is also a focus of exploration for 2013, with Leopard Rock being the main target.

The Company also has gold exploration permits in Cameroon.

Forward-looking Statements

This press release contains certain forward-looking information. All information, other than information regarding historical fact, that addresses activities, events or developments that Aureus Mining believes, expects or anticipates will or may occur in the future is forward-looking information. Forward-looking information contained in this press release includes, but may not be limited to, the future plans and objectives of Aureus Mining and their anticipated future growth, mineral resource estimates and the anticipated exploration and development activities of Aureus Mining. The foregoing and any other forward-looking information contained in this press release reflects the current expectations, assumptions or beliefs of Aureus Mining based on information currently available to Aureus Mining. With respect to the forward-looking information contained in this press release, Aureus Mining has made assumptions regarding, among other things: general business, economic and mining industry conditions; and it has also been assumed that no material adverse change in the price of precious and/or base metals occurs, no unusual geological or technical problems occur and no significant events occur outside of the normal course of Aureus Mining's respective business.

Such forward-looking information is subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including: risks normally incidental to exploration and development of mineral properties; uncertainties in the interpretation of results from drilling and test work; the possibility that future exploration, development or mining results will not be consistent with expectations; uncertainty of mineral resources estimates; adverse changes in precious and/or base metal prices; and future unforeseen liabilities and other factors including, but not limited to, those listed under "Risk Factors" in the Preliminary Prospectus of Aureus Mining Inc. dated April 20, 2011 a copy of which is available on SEDAR at www.sedar.com, and in the Aureus Mining Admission Document, a copy of which is available at www.aureus-mining.com.

Any mineral resource figures referred to in this press release are estimates and no assurances can be given that the indicated levels of minerals will be produced. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While Aureus Mining believes that the mineral resource estimates in respect of their respective properties are well established, by their nature mineral resource estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such mineral resource estimates are inaccurate or are reduced in the future, this could have a material adverse impact on Aureus Mining, as applicable. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration.

Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable law, Aureus Mining disclaims any obligation to update or modify such forward-looking information, either as a result of new information, future events or for any other reason.

SOURCE: Aureus Mining Inc.

For further information:

Aureus Mining Inc.
David Reading / Jeremy Cave
Tel: +44(0) 20 7257 2930

Buchanan
Bobby Morse / Gordon Poole
Tel: +44(0) 20 7466 5000

RBC Capital Markets (Nominated Adviser and Joint Broker)
Martin Eales / Richard Hughes
Tel: +44(0) 20 7653 4000

GMP Securities Europe LLP (Joint Broker)
Richard Greenfield / Alexandra Carse
Tel: +44(0) 20 7647 2800

Profil de l'entreprise

Aureus Mining Inc.

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