Aurelian Signs Contract for Two Additional Drill Rigs for its Fruta Del Norte Epithermal Gold-Silver Target
Wednesday July 26, 2:24 pm ET
TORONTO, ONTARIO--(CCNMatthews - July 26, 2006) - Aurelian Resources Inc. (TSX VENTURE:ARU - News) today announced that it has signed a contract with Major Drilling Group International (Major) to provide two diamond drill rigs for the Fruta Del Norte (FDN) epithermal gold-silver target. The two rigs are capable of drilling to depths of 1000m, and will work along side the two diamond drill rigs currently on site.
The two rigs already on site continue to step out to the north at FDN, with holes CP-06-64 and 66 completed on line 600N, holes CP-06-65, 67 and 68 completed on line 700N, and hole CP-06-69 in progress on line 800N. Maps, cross sections, photos and full gold and silver assay data may be viewed at www.aurelian.ca.
As previously reported (PR July 6, 2006) hole CP-06-64 (Az. 86 degrees dip 60 degrees) on line 9583600N intersected intense epithermal veining and brecciation with occurrences of visible gold. Hole CP06-66 was drilled from the same location, but at a steeper angle (Az. 88 degrees dip 69 degrees). This hole intersected a broad zone of epithermal mineralization, including a zone of intense epithermal stockwork and brecciation in silicified volcanics. Several occurrences of visible gold have been observed, and detailed logging of this hole is in progress.
On line 9583700N, where hole CP-06-65 (Az. 93 degrees dip 60 degrees) intersected intense epithermal veining and brecciation with occurrences of visible gold (PR July 6, 2006), two additional holes have now been completed. Hole CP-06-67 (Az. 86 degrees dip 60 degrees) was drilled approximately 50m west of hole 65, and also intersected a broad zone of epithermal mineralization, including a zone of intense epithermal stockwork and brecciation in silicified volcanics. Detailed logging of this hole is in progress. Hole CP-06-68 (Az. 83 degrees dip 70 degrees) was drilled from the same drill platform as hole 67, and was designed to test the mineralization down-dip to the west. The hole encountered zones of intense silicification within the conglomerate unit before intersecting weak to moderate epithermal mineralization in what is interpreted as the western downdropped fault block (west of the main mineralized block). Detailed logging of this hole has not yet begun.
On line 9583800N, hole CP-06-69 (Az 90 degrees dip 60 degrees) is in progress and to date has intersected intense epithermal stockwork and brecciation in intensely silicified volcanics, with chalcedonic quartz with fine sulphides. Hole CP-06-69 marks the northernmost hole drilled to date in the FDN target.
"We now see strong epithermal mineralization over a strike length of approximately 700 metres of the FDN system with no signs of weakening as we continue drilling to the north." says Aurelian President & CEO Patrick F. N. Anderson. "With the addition of two more powerful diamond drill rigs, we can begin to test the target to the south and west where it also remains open."
To date, 20 holes have been completed in the FDN target, with results released for twelve of these holes. Results for the next batch of holes will be released when they are fully received and compiled.
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.
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
Source: Aurelian Resources Inc.
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