Marc L'Heureux – Senior Technical Advisor and Guy Brunet – President, Chief Executive Officer and Director
Norvista Resources Corporation formed Aurvista when it purchased 25% of the Douay gold property from Société d’Exploration Minière Vior Inc. Aurvista purchased a further 25% interest in March 2011, and obtained the remaining 50% from Vior in August in exchange for 21,250,000 common shares.
“At that time we exchanged what was 50% of the company for 50% of the property. So our biggest shareholder now is Vior,” explains Guy Brunet, President, Chief Executive Officer and Director, Aurvista Gold Corporation. “They currently own 44%.”
Douay Gold Property
The Douay Property, located 60 km south of Matagami in northwestern Quebec, is Aurvista’s sole asset.
Mr. Brunet mentions the property is located along the Casa Berardi-Cameron deformation corridor. Nearby properties include, the Casa Berardi Mine owned by Aurizon, and the Vezza gold deposit owned by North American Palladium. Mr. Brunet adds, “And 50 kilometres to the south of our property there’s a mill and also the Sleeping Giant mine. Further to the northwest you also find the Detour deposit.”
The Douay deposit holds a total resource of 2 million ounces spread in 7 different deposits. “The most significant is the Porphyry deposit, which holds a near surface, large tonnage, low grade mineral resource of 1.1 million ounces at 1.1 g/t,” declares Mr. L'Heureux.
He continues, “We also have the Douay West deposit that hosts 150,000 ounces of gold at 7.5 g/t. This deposit is for an underground operation. We just completed the 2011 drill program a month ago. We drilled over 20,000 metres and now we are waiting for the results.”
“On the Douay West deposit, we have a net present value of $60 to $70 million at $1,300 an ounce,” exclaims Mr. L'Heureux.
Mr. L'Heureux also mentions a recent discovery, “There was a breakthrough and we just discovered a section of high-grade mineralization in one of the other deposits on the property.” According to Aurvista’s November 8, 2011, press release, the drill hole “returned a high grade intercept of 8.4 g/t Au over 6.8 m true width.”
Aurvista expects big returns in 2012. Mr. L'Heureux explains, “There are many other possibilities and targets on the property. Those 7 deposits are along a 6-kilometre long strike, and this is very unlikely that you find so much gold in so many clustered deposits in the Abitibi Greenstone Belt. So we’re confident that the next round of drilling, that is slated to begin in early January of 2012, will extend existing mineralization. We can easily bring the existing mineralization from 2 million ounces to 3 million ounces in 2012.”
“My background is financial,” says Mr. Brunet. “I was in the brokerage business for 30 years and always in and around the mining business.” Now I am in the mining business full time with some very strong partners.
“We have strong management. That’s always important,” continues Mr. Brunet. “On our board we have some very seasoned people.”
Directors at Aurvista include:
§ Gerald McCarvill, who is Chairman and Chief Executive Officer of Norvista Resources Corporation.
§ Edmund King, who served as Chairman and Chief Executive Officer of CIBC Wood Gundy for many years.
§ Brian Tobin, who has served as the Federal Minister of Industry for Canada, and as the Premier of Newfoundland and Labrador. He currently serves on a number of boards, including as Director and Chairman of Calvista Gold Corporation.
§ Rick Adams, who is a mining engineer, runs, Highvista Gold, in Mexico.
Mr. Brunet also mentions the members of the Technical committee who are: Marc L'Heureux, Vice-President, Exploration. “Marc is our senior technical advisor. Also, David Meyer who is V-P Corporate Development and Rick Adams are on our technical committee.” Between them they have a combined 50 years plus of experience in the field in various parts of the world.
Mr. Brunet states, “We currently have 48 million shares outstanding; fully-diluted, 55 million.” He continues, “Vior is our largest shareholder. They own 44%. Norvista is our parent company; they seeded us. They own 18%. Management owns 7%.” Between their major shareholders and brokerages, Mr. Brunet says, “I can make 10 phone calls and reach 98% of my shareholders.”
Mr. Brunet concludes, “We have a very exciting property. It’s complex and that’s why we’ll have to do more drilling. We have a market cap currently of $20 million with one deposit only that has a net present value of $60 to $70 million. And that gives you the rest of the property for basically nothing.” Our goal is to achieve a minimum number of ounces for an economic mine plan this season or next
For more information:
President and Chief Operating Officer
1200 McGill College, Suite 1240
Montreal, QC, Canada, H3B 4G7
Tel: +1 514-439-5712
Fax: +1 514-439-5716
Cell: +1 514-502-8658