NUNAVUT - Ottawa-based Aura Resources has issued an update of the work done at the Greyhound gold property, a partnership of Aura and Agnico Eagle Mining (the operator and holder of an optioned 70% interest). The project is located 40 km north of Baker Lake, and 32 km south of Agnico's Meadowbank gold mine.
Agnico has completed surface mapping, induced polarization surveys, geochemical sampling, and a small drilling program. Work focused on two targets - the Northwest fold zone and the South Aura Lake area.
Seventy-four grab samples from the Northwest fold returned had detectable gold (>0.03 ppm) and four samples were above 0.5 ppm gold. Two drill holes were completed, and one returned a 1.5-metre interval of banded iron formation that assayed 0.175 g/t. And a similar interval in the adjacent intermediate tuff assayed 0.68 g/t gold.
The highest gold content in the South Aura Lake area came from near the southeast corner of the lake. The samples with the highest gold content were also those with the most arsenic. Aura says the combination of gold in the soil, arsenic, and lead form a distinct indication assemblage that requires further consideration to select the best drilling targets.
More information on the geology of the Greyhound property is available at www.AuraSilver.com.
This story first appeared on Canadian Mining Journal