Morgain Minerals (TSX-V: MGM) $0.30 and Aurogin
Resources (TSX-V: AUQ) $0.28 are set to merge subject to a shareholder vote in
early July. The merger is valued at equal with each company's shareholders
receiving 1 new for 2 old shares. Find below news from Aurogin which will be
part of the "new" Morgain.
Aurogin Resources Begins Lone Mountain, Nevada Drill Program
News Release
Aurogin Resources Ltd. has
commenced an exploration drill program at its Lone Mountain property in Eureka
in Nevada.
The Lone Mountain property, consisting of 88 unpatented load
mining claims, is located 25 kilometres northwest of Eureka on the prolific
Battle Mountain-Cortez gold trend. The area has produced approximately 23
million ounces of gold over the past 30 years, making it the second most productive belt in Nevada after the Carlin district.
During 2006, Aurogin completed controlled source
audio-magnetotelluric (CSAMT) surveying, mapping and surface geochemical sampling, and acquired gravity and airborne magnetic data covering the property.
A major west-northwest-trending fault structure, generally coincident with a
geochemical anomaly previously identified on the property, was outlined. This
high-angle structure, which is similar to the one to the southeast associated
with Barrick Gold's Archimedes deposit, is considered to be favourable for gold
mineralization.
Permitting and environmental bonding for 12 exploration
drill holes ranging from 150 to 200 metres in depth were finalized on Nov. 9,
2006. On April 17, 2007, the company signed a contract to drill five holes of
200 metres each for a total of 1,000 metres. Neil Gow, PGeo, is the qualified
person on this property.
Dale
Paruk
Coal Harbor Communications Inc.
Suite 701, 555 Jervis Street
Vancouver BC V6E 4N1
Tel: 1+ (604) 662-4505
 
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Aurogin Resources Ltd.
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EXPLORATEUR |
CODE : AUQ.V |
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Aurogin Res. est une société de production minière basée au Canada. Aurogin Res. détient divers projets d'exploration au Canada et au Guatemala. Ses principaux projets en exploration sont WEMINDJI et BATCHA au Canada et BRIDGE ZONE et LAS MINAS au Guatemala. Aurogin Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 16,1 millions CA$ (17,2 millions US$, 12,6 millions €). La valeur de son action a atteint son plus bas niveau récent le 27 juin 2003 à 0,03 CA$, et son plus haut niveau récent le 21 avril 2006 à 0,61 CA$. Aurogin Res. possède 64 334 721 actions en circulation. |