Thursday, 19th July 2007 (2069 views)

Mineral exploration company Aura Gold has completed its acquisition of the Arapiraca project in Brazil.

Go-ahead for the project was given following a special meeting of company shareholders held on July 13th, when all resolutions presented at the meeting were approved by Aura Gold shareholders.

Drilling is currently underway on the Serrote da Laje deposit with two rigs currently on site and a third scheduled for arrival later this month.

"The company plans to drill approximately 20,000 metres of in-fill and step-out drilling at Serrote da Laje in 2007, leading up to an updated national instrument 43-101 resource calculation in the fourth quarter followed by a preliminary economic evaluation," a statement noted.

Earlier this year, Aura intersected 5.34 grammes per tonne of gold over 13 metres at its Cumaru Project located in Para State, north-central Brazil.

Aura noted that while total gold production from the area is undocumented, the sizeable extent of the old workings suggest the region was the source of a "significant" portion of the Cumaru district's historical 1.5 million ounces gold production.

 

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