Stocks & Investing
Stocks and Investing
Stocks and Investing
Fri, June 25, 2010
Thu, June 24, 2010 Auric Mining Announces Results of Dog Lake Geophysical Survey
WILMINGTON, DE--(Marketwire - June 24, 2010) - Auric Mining Corp. (
The survey confirmed a number of gold showings on the shoreline of Dog Lake, located a few hundred meters to the west of the property boundary. In the past there has been considerable ground geophysics and drilling conducted in this area. The magnetic maps show the presence of narrow magnetic linear features striking from a North to East trend and appear to occupy all of the three major rock types. At least ten diabase dykes have been interpreted from the second derivative pattern and almost all are certain to belong to the Matachewn-Hearts swarm that is prevalent in the area. In the southeast corner a lateral displacement of three dykes are interpreted as a fault.
One of the more significant features of the magnetic maps is the presence of narrow magnetic linear features striking from North to East. These are illustrated on the interpretation maps and appear to occupy all three major rock types. The OGS map shows several major faults or deformation zones in the general area and with the same strike direction. It is proposed that these magnetic linears could be related to them. They could represent fracture elements in a broad deformation zone and since they stretch into the gold showings to the west are of considerable interest now as possible channels of mineralization.
Based on the conclusions and recommendations of the VLF-EM survey, possible new exploration targets have been identified and further exploration recommended. An exploration program has been adopted and will be carried out in the coming months.
Auric Mining Corp. plans to do another similar survey in the near future using additional technology to better define these results before a full field exploration program commences this summer.
About Auric Mining Corp.:
Auric Mining Company (Auric or the Company) is doing business as an investment company in mining and natural resources projects. The Company focuses its resources in investing with on-going projects to establish immediate cash-flow for the company and provides profitability for its shareholders. Auric has researched through different databases of natural resources companies that are public and have substantial findings already proven. Auric will invest in these companies in exchange for shares and revenue sharing. We are constantly seeking acquisition opportunities with significant exploration upside in the form of entire companies or packages of assets that provide an undeniable chance of hosting base and precious metal mineralization. Unparalleled instinct for successful mineral projects, field-oriented management style and a flat organizational structure, our ability to concentrate financial assets, human resources and field efforts, provides timely decisions and a continued focus on the most prospective targets with sovereign agility and promptitude than ever before. The company is currently focused on developing its properties in the Wawa area of the Sault Ste. Marie Mining District in Ontario. In addition to its prolific history for gold mining, Wawa has shown promising signs of concentrated kimberlitic indicators, a favorable geological formation for diamond exploration. The company has a number of claims strategically located in this historic mining district. We have taken significant effort to assure our shareholders and potential investors that the properties we explore deserve investment of time, effort and financial commitment necessary to establish successful mineral production in the future. For more information visit the company's website at [ www.auricminingcorp.com ].
Forward-looking Statement:
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 -- forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at Auric Mining's stage of development. All such forward looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
