VANCOUVER, BC (September 21, 2011) Clearlease Financial Reports Aurion Resources Ltd. (TSXV:AU.V) is pleased to report Sept 21, 2011 that it’s partner AuRico Gold Inc plans to begin a minimum 5000 metre drilling program on Aurion’s La Bandera gold project in Durango, Mexico, this fall.
La Bandera is the subject of an option and joint venture agreement whereby AuRico can earn an initial 51% interest by completing $5 million in exploration expenditures over 36 months, including a firm commitment to spend a minimum $1 million in the first 12 months. AuRico can earn an additional 19% by completing a minimum $7 million in additional expenditures or by completing a positive feasibility study within 5 years of earning 51% and forming a Joint Venture with Aurion. AuRico is the operator of the project.
AuRico has advised Aurion that it intends to begin drilling by early Nov 2011, subject to receipt of necessary drill permits, to test a series of targets, both in the northern zone where locally high-grade gold occurs in stringers associated with a felsic dome complex, and in the south where the major La Bandera structure cuts through felsic tuffs and felsic dome margins. The geologic setting is considered favourable as the association of gold with dome structures is common in the gold-silver deposits of Durango.
Since finalizing the joint venture agreement in March 2011, AuRico, as project operator, has conducted detailed mapping, sampling and target definition over the property, and equally important, they have executed and registered surface access agreements with 4 Ejidos which cover most of the property. The rapid progress made with the Ejidos is a result of the good relations Aurion had established with the local communities, and to AuRico’s strong community relations program in Mexico.
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