Aurelian Intersects 195.69 Metres Grading 5.97 g/t, and 81.40 Metres Grading 5.54 g/t of Gold in Drilling at the FDN Epithermal Gold-Silver Discovery
Thursday July 6, 2:56 pm ET
TORONTO, ONTARIO--(CCNMatthews - July 6, 2006) - Aurelian Resources Inc. (TSX VENTURE:ARU - News) today announced a 195.69 metre intercept grading 5.97 g/t of gold and 20.0 g/t Ag (including 63.45m @ 10.51g/t Au) in diamond drill hole CP-06-59 and an 81.40 metre intercept grading 5.54 g/t of gold and 8.0 g/t Ag (including 19.40m @ 10.25 g/t Au) in diamond drill hole CP-06-60 at its wholly-owned Condor Project in south-eastern Ecuador. The two intercepts are from the buried epithermal gold-silver discovery at Fruta Del Norte (FDN). Maps, cross sections, photos and full gold and silver assay data may be viewed at www.aurelian.ca.
"We now see strong epithermal mineralization over a strike length of approximately 600 metres of the FDN system and it remains open to the south, west and north." says Aurelian President & CEO Patrick F. N. Anderson. "We are improving infrastructure to the site and construction has begun on an all-weather road that will provide direct access to the FDN project."
Results are summarised in the tables below. Intervals containing high-grade assays have been re-calculated using a conservative 31.1 g/t Au top cut. Preliminary geostatistics indicate that a much higher top-cut would be used in resource modelling.
Uncut data
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Cross Drill Interval
section hole From (m) To (m) (m) Au g/t Ag g/t
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9583400N CP-06-59 307.35 308.35 1.00 0.51 1.6
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CP-06-59 330.40 331.40 1.00 0.74 3.2
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CP-06-59 337.40 533.09 (EOH) 195.69 5.97 20.0
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including 338.40 401.85 63.45 10.51 15.9
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and 433.85 462.15 28.30 13.65 54.4
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9583500N CP-06-60 178.30 259.70 81.40 5.54 8.0
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including 236.00 255.40 19.40 10.25 11.5
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CP-06-60 266.37 279.70 13.33 1.19 6.0
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CP-06-60 290.70 291.70 1.00 0.61 5.7
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CP-06-60 298.70 324.40 25.70 0.56 5.2
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CP-06-60 331.40 345.77 14.37 15.24 19.6
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including 333.40 336.50 3.10 64.71 55.1
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CP-06-60 389.08 390.08 1.00 0.66 9.1
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CP-06-60 421.15 421.80 0.65 0.54 30.3
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Note: intervals are calculated using a lower cut of 0.5 g/t Au and no
top cut, they include a maximum of 5m internal waste.
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Intervals with a top cut of 31.1g/t Au
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Cross Drill Interval
section hole From (m) To (m) (m) Au g/t Ag g/t
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9583400N CP-06-59 337.40 533.09 (EOH) 195.69 5.04 20.0
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9583500N CP-06-60 178.30 259.70 81.40 5.37 8.0
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CP-06-60 331.4 345.77 14.37 6.55 19.6
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Note: intervals are calculated using a lower cut of 0.5g/t Au and a top
cut of 31.1g/t Au, they include a maximum of 5m internal waste.
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Hole CP-06-59 is located on section 9583400N, collared 48m west of the previously released intercept from drill hole CP-06-58 (PR 21/06/2006). It was drilled with an azimuth of 90 degrees and a dip of 66 degrees at the collar, rising to 60 degrees by the end of hole. The hole intersected a large fault at the contact between the conglomerate and volcanics from 305m to 327m before encountering epithermal stock work veining and brecciation. Mineralization weakened significantly at 462m but continued to be anomalous to end of hole (533.09m). Visible gold was observed at 14 locations corresponding with high grade assays.
Hole CP-06-60 is located on section 9583500N, collared approximately 100m north of the previously released intercept from drill hole CP-06-57 (PR 06/06/2006). It was drilled with an azimuth of 90 degrees and a dip of 60 degrees at the collar, rising to 59 degrees by the end of hole (426.45m). The hole drilled into the top of the block of mineralized volcanics and intersected a zone of intense, banded and brecciated epithermal veining. The intercept contains two occurrences of visible gold.
Drill hole CP-06-62 has been completed 40 metres west of CP-06-60, intercepting epithermal stock work veining and brecciation with visible gold. On section 9583300, drill hole CP-06-61 was completed as a 50 metre step-out to the west of CP-06-56. The hole intersected conglomerate to 373m depth, before drilling through 4 metres of quartz sinter on the top of the volcanics on the block that is down-dropped to the west. At 427m the hole drilled through a fault and into epithermal stock work and breccia veining which weakened down hole after about 40m. No visible gold has been observed in this drill hole.
Further to the north, two additional drill holes have been completed on sections 9583600N (CP-06-64) and 9583700N (CP-06-65), with both holes intersecting intense epithermal veining and brecciation with visible gold. The top of the mineralization is rising closer to ground surface towards the north, coming within 130 metres of surface at section 9583700N. Strong epithermal mineralization has now been intersected over a strike length of approximately 600 metres, with gold-silver mineralization supported by assay data over approximately 400 metres of strike length.
A westward directed scissor hole, CP-06-63, has been completed on section 9583400N. The drill hole was drilled with an azimuth of 270 degrees and a dip of 63 degrees at the collar. The hole intersected strong epithermal veining and brecciation with visible gold, correlating with previously drilled holes CP-06-57, 58 and 59. The holes on this section confirm that the majority of veins dip moderately to steeply west. A vertical vein set has also been intersected. Aurelian will continue orienting the majority of its drill holes towards the east in order to cut the mineralized system at a high angle. There is still insufficient data to estimate a true width of the system.
The FDN target is interpreted as a low to intermediate sulphidation epithermal gold-silver system. The mineralization is within a pull-apart basin and buried by conglomerate that is dominantly post-mineralization. The system is characterized by multiphase quartz-carbonate-sulphide stock work veining and hydrothermal brecciation within intensely silicified andesitic volcanics.
Drilling is comprised of NQ and BTW diamond core. The samples are sawed half core and assayed at ALS Chemex's Vancouver Laboratory by 50g fire assay with an ICPAES or gravimetric finish. As part of quality-assurance, quality-control (QAQC) certified standards of known gold content are inserted every 20 samples, blanks at least every 20 samples and field or lab duplicates are taken every 25 samples. Standards, blanks and duplicates make up approximately 15% of the samples assayed. Half core samples have been retained on site for verification and reference purposes.
Stephen Leary, MAusIMM, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
About Aurelian:
Aurelian Resources Inc. is a publicly-listed (TSX-V:ARU - News) junior resource company engaged in the business of exploring, discovering and developing mineral wealth in Ecuador. The Condor Project properties are located in south-eastern Ecuador and consist of 38 mining concessions totalling approximately 95,000 hectares.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Patrick F. N. Anderson
Aurelian Resources Inc.
President & CEO
(416) 868-9100
(416) 868-1807 (FAX)
pfnanderson@aurelian.ca
www.aurelian.ca
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Source: Aurelian Resources Inc.
