Mining News: Northern Neighbors: Porphyry potential tapped at Aura’s Greyhound

Aura Silver Resources Inc. Nov. 24 reported results of an eight-hole drill program completed at its Greyhound property in Nunavut. The program was funded and operated by Agnico Eagle Mines Ltd., which entered into an option agreement on the property in 2014. The 2015 drilling focused on the Aura Lake and Dingo areas of the Greyhound property. Hole GHD15-017, drilled east of Aura Lake, cut more than 25 meters of a stockwork zone of quartz-carbonate veining hosted within mafic volcanics, indicating a porphyry system. The bottom 1.5 meters of the 195-meter hole assayed 6.41 grams per metric ton gold. Aura said this hole will be deepened in the 2016 drill program to determine the extent of gold mineralization at deeper levels. In its final report, Agnico has recommended an induced polarization survey to be carried out to the east and north of GHD15-017 in 2016 to confirm the extent and strength of this stockwork zone. Hole GHD15-012, drilled in the Dingo area, cut 3.31 g/t gold over 2.7 meters. This interval corresponds to a medium grained intermediate intrusive, which is weakly foliated. Grab samples collected in the Dingo area returned up to 14.6 g/t gold in one sample associated with a quartz vein within mafic volcanic rocks. A 2.9 g/t gold sample also was assayed and is associated with an intrusive rock carrying 5 percent chalcopyrite and pyrite which is consistent with a previously discovered copper target at the south end of Dingo. Greyhound is located some 50 kilometers (30 miles) south of Agnico Eagle’s Meadowbank Mine.

- Shane Lasley