TSXV-listed Aurvista Gold Provides Update. Says Phase 1 Detailed Targeting Work Nearing Completion, Phase 2 Drilling Planned for Q4 2016; Shares Down Over 2% (CVE:AVA)


Aurvista Gold Corporation (AVA.V) shares moved lower after the company reported on the advancement of Phase 1 of the Detailed Targeting Program on the Douay Gold Project. To date, Aurvista has:completed the re-logging of 228 historic core drill holes totaling 74,580 meters from 27 of the planned 28 sections. These sections include non-mineralized segments and the 10 known gold zones.

There are 105 drill holes remaining to be re-logged for 23,830 meters. Some 98,410 meters in 333 drill holes are planned to be re-logged by the end of the Phase 1 campaign. The Company will also rely on drill core from past drill campaigns conducted by Aurvista from 2011 to 2015. The Phase 1 field portion of the Program is expected to be completed by the end of October with the final targets identified for the initial 4,000 meters Phase 2 core drilling campaign planned for mid-November. Shares were last down 2.4% at $0.205 apiece.

The stock decreased 14.29% or $0.03 on September 27, hitting $0.18. About 255,500 shares traded hands or 10.87% up from the average. Aurvista Gold Corp (CVE:AVA) has risen 6.00% since August 29, 2016 and is uptrending. It has underperformed by 5.93% the S&P500.

Aurvista Gold Corporation is a Canada exploration company. The company has a market cap of $17.08 million. The Firm is primarily involved in the acquisition, exploration and development of mining properties in Canada. It currently has negative earnings. The Company’s asset is Douay Gold Project , which has interest in approximately 250 contiguous claims totaling over 13,310 hectares; approximately 90% interest in over five contiguous claims totaling over 20 hectares, and approximately 75% interest in over 30 contiguous claims totaling approximately 1,190 hectares in over 290 claims totaling over 14,530 hectares located along a 20-kilometer segment of the Casa Berardi Deformation Zone in the prolific Abitibi Greenstone Belt of northern Quebec.

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