UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-
16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2015
Commission File Number 001-31739
AuRico Gold Inc.
(Translation
of registrant's name into English)
110 Yonge Street, Suite 1601, Toronto, Ontario,
M5C 1T4
(Address of principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) o
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) o
DOCUMENTS FILED AS PART OF THIS FORM 6-K
See the Exhibit Index hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
AuRico Gold Inc. |
| |
|
| Date: February 19, 2015 |
By: /s/ Robert
Chausse
Robert Chausse
Executive Vice President & CFO |
| |
|
EXHIBIT INDEX
| Exhibit
|
|
Description |
| |
|
|
| 99.1 |
|
News Release dated February 19, 2015 - AuRico Reports 2014 Reserve & Resource Update |
Exhibit 99.1
AuRico Reports 2014 Reserve & Resource Update
Reserves Increase by 207,000 Ounces at Young-Davidson
Underground
Company-Wide Reserves and M&I Resources Increase by 15% to 10.4 Million Gold Ounces
TORONTO, Feb. 19, 2015 /CNW/ - AuRico Gold Inc. (TSX: AUQ)
(NYSE: AUQ), ("AuRico" or the "Company") today reported its updated Reserves and Resources, as at
December 31, 2014. (Detailed Mineral Reserve and Resource tables can be found at the end of this press release).
Mineral Reserves and Resources
Reserve Highlights
As at December 31, 2014, the Company is reporting:
| · | Reserves at the Young-Davidson underground mine increased by 207,000
ounces, or 6%, over 2013, as the Company was successful in replacing production and increasing reserves. |
| · | Reserves decreased by 37% at the El Chanate mine, due to both mining
depletion and a reduction in overall slope angles, while reserve grades increased by 5%. The reduction in planned slope angles
came after a thorough external geotechnical review of geotechnical drilling, mapping and slope performance. |
Gold Reserves by asset are summarized in the table below:
| |
| Proven and Probable Mineral Reserves1 |
| |
Gold ounces (000's) |
Gold grade (g/t) |
| 31-Dec-14 |
2014 |
2013 |
Change (%) |
2014 |
2013 |
Change (%) |
| |
Young-Davidson Underground |
3,763 |
3,556 |
6% |
2.74 |
2.81 |
(3%) |
| |
Young-Davidson Surface |
61 |
140 |
(57%) |
0.76 |
1.10 |
(31%) |
| Total Young-Davidson |
3,823 |
3,696 |
3% |
2.63 |
2.66 |
(1%) |
| Total El Chanate |
646 |
1,023 |
(37%) |
0.74 |
0.70 |
5% |
| Kemess Underground |
1,805 |
1,805 |
0% |
0.56 |
0.56 |
0% |
| AuRico Total |
6,274 |
6,524 |
(4%) |
1.13 |
1.07 |
6% |
| 1. Detailed Mineral Reserve and Mineral Resource tables follow at the end of this press release. |
In addition to gold reserves, the Company is also reporting
copper reserves of:
| · | 619 million pounds at the Kemess Underground Project at a reserve grade
of 0.28%, using a copper price of $3.00 per pound. |
"We remain encouraged with the quality of the underground
reserve base reported from our cornerstone Young-Davidson mine, which has increased over the prior year with a consistent grade
profile. This robust ore body is comprised of low cost, long life, high margin ounces and this asset is positioned for a long and
profitable mine life." stated Scott Perry, President and Chief Executive Officer. He continued, "Company-wide, we are
also reporting a significant increase in our resource base in Canada as a result of our successful drilling program at Kemess East,
as well as through our strategic joint venture on the promising Lynn Lake Project."
Resource Highlights
As at December 31, 2014 the Company is also reporting the
following Mineral Resources, which are in addition to reserves:
| · | Measured and Indicated gold resources of 4.1 million gold ounces at a
grade of 0.84 g/t, an increase of 1.6 million ounces, or 64%, primarily related to additional resources from the Kemess East and
Lynn Lake Projects; and |
| · | Inferred gold resources of 2.4 million gold ouncesat a grade of 0.52
g/t, an increase of 1.9 million ounces, or 409%, primarily related to additional inferred resources from the Kemess East and Lynn
Lake Projects. |
Gold mineral resources as at December 31, 2014 by asset are
summarized in the table below:
| |
| Gold Resources (in thousands of gold ounces)1 |
| |
Measured & Indicated |
|
Inferred |
| December 31, 2014 |
2014 |
|
2013 |
|
2014 |
|
2013 |
|
| |
Young-Davidson Underground |
1,430 |
|
1,484 |
|
320 |
|
323 |
|
| |
Young-Davidson Surface |
69 |
|
32 |
|
1 |
|
1 |
|
| Young-Davidson Total |
1,499 |
|
1,516 |
|
321 |
|
324 |
|
| El Chanate Total |
69 |
|
49 |
|
2 |
|
14 |
|
| |
Kemess Underground |
854 |
|
854 |
|
125 |
|
125 |
|
| |
Kemess East |
939 |
|
- |
|
1,424 |
|
- |
|
| Kemess Property Total |
1,793 |
|
854 |
|
1,549 |
|
125 |
|
| Lynn Lake Total (25%) |
657 |
|
- |
|
522 |
|
- |
|
| Orion Total (50%) |
65 |
|
65 |
|
10 |
|
10 |
|
| AuRico Total |
4,083 |
|
2,484 |
|
2,404 |
|
472 |
|
The Company is also reporting by-product mineral resources:
| · | Indicated by-product resources including: |
| · | 346 million pounds of copper from the Kemess Underground Project at a
grade of 0.24%; and |
| · | 504 million pounds of copper from the Kemess East Project at a grade
of 0.41%. |
| · | Inferred by-product resources including: |
| · | 46 million pounds of copper from the Kemess Underground Project at a
grade of 0.21%; and |
| · | 871 million pounds of copper from the Kemess East Project at a grade
of 0.34%. |
Chris Bostwick, Senior Vice President, Technical Services
for AuRico Gold Inc. has reviewed the scientific and technical information contained within this press release and serves as the
Qualified Person as defined by National Instrument 43-101.
Reserves and Resources (as of December 31, 2014)
| |
| Mineral Reserve Estimates - Gold |
| |
|
|
Tonnes |
Grade |
Ounces |
| |
|
Category |
(000's) |
(g/t) |
(000's) |
| Young-Davidson |
Surface |
Proven |
2,501 |
0.76 |
61 |
| |
Probable |
- |
- |
- |
| |
P&P |
2,501 |
0.76 |
61 |
| Underground |
Proven |
12,499 |
2.83 |
1,137 |
| |
Probable |
30,274 |
2.70 |
2,626 |
| |
P&P |
42,773 |
2.74 |
3,763 |
| Total Young-Davidson |
P&P |
45,273 |
2.63 |
3,823 |
| El Chanate |
|
Proven |
18,255 |
0.80 |
472 |
| |
Probable |
8,958 |
0.60 |
174 |
| Total El Chanate |
P&P |
27,213 |
0.74 |
646 |
| Kemess Underground |
|
Proven |
- |
- |
- |
| |
Probable |
100,373 |
0.56 |
1,805 |
| Total Kemess |
P&P |
100,373 |
0.56 |
1,805 |
| AuRico Total |
P&P |
172,860 |
1.13 |
6,274 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
| Mineral Resource Estimates - Gold |
| |
Category |
Tonnes |
Grade |
Ounces |
| |
(000's) |
(g/t) |
(000's) |
| Young-Davidson |
Surface |
Measured |
496 |
1.13 |
18 |
| Indicated |
1,242 |
1.28 |
51 |
| M&I |
1,739 |
1.24 |
69 |
| Underground |
Measured |
7,855 |
3.28 |
829 |
| Indicated |
6,090 |
3.07 |
601 |
| M&I |
13,946 |
3.19 |
1,430 |
| Total Young-Davidson |
M&I |
15,684 |
2.97 |
1,499 |
| Surface |
Inferred |
31 |
0.99 |
1 |
| Underground |
Inferred |
3,608 |
2.76 |
320 |
| Total Young-Davidson |
Inferred |
3,639 |
2.75 |
321 |
| El Chanate |
|
Measured |
923 |
0.58 |
17 |
| |
Indicated |
1,842 |
0.87 |
52 |
| Total El Chanate |
M&I |
2,764 |
0.77 |
69 |
| Inferred |
184 |
0.38 |
2 |
| Kemess Underground |
|
Measured |
- |
- |
- |
| |
Indicated |
65,432 |
0.41 |
854 |
| Total Kemess Underground |
M&I |
65,432 |
0.41 |
854 |
| Inferred |
9,969 |
0.39 |
125 |
| Kemess East |
|
Measured |
- |
- |
- |
| |
Indicated |
55,864 |
0.52 |
939 |
| Total Kemess East |
M&I |
55,864 |
0.52 |
939 |
| Inferred |
117,152 |
0.38 |
1,424 |
| Lynn Lake (25%) |
MacLellan |
Measured |
3,753 |
1.99 |
240 |
| Indicated |
4,344 |
1.75 |
244 |
| M&I |
8,096 |
1.86 |
484 |
| Inferred |
475 |
2.01 |
31 |
| Farley Lake |
Measured |
- |
- |
- |
| Indicated |
1,479 |
3.21 |
153 |
| M&I |
1,479 |
3.21 |
153 |
| Inferred |
1,091 |
2.87 |
101 |
| Burnt Timber |
Measured |
- |
- |
- |
| Indicated |
255 |
1.40 |
11 |
| M&I |
255 |
1.40 |
11 |
| Inferred |
5,860 |
1.04 |
195 |
| Linkwood |
Measured |
- |
- |
- |
| Indicated |
246 |
1.16 |
9 |
| M&I |
246 |
1.16 |
9 |
| Inferred |
5,251 |
1.16 |
196 |
| Total Lynn Lake |
M&I |
10,076 |
2.03 |
657 |
| Inferred |
12,676 |
1.28 |
522 |
| Orion (50%) |
|
Measured |
- |
- |
- |
| |
Indicated |
554 |
3.66 |
65 |
| Total Orion |
M&I |
554 |
3.65 |
65 |
| Inferred |
91 |
3.33 |
10 |
| AuRico Total |
|
M&I |
150,373 |
0.84 |
4,083 |
| |
Inferred |
143,711 |
0.52 |
2,404 |
| |
| Mineral Reserve and Resource Estimates - Copper and Silver |
| |
|
Grade |
Contained Metal |
| |
|
Tonnes |
Cu |
Ag |
Cu |
Ag |
| |
Category |
(000's) |
(%) |
(g/t) |
(000's) lbs |
(000's) oz |
| Kemess Underground |
Probable Reserves |
100,373 |
0.28 |
2.0 |
619,151 |
6,608 |
| Indicated Resources |
65,432 |
0.24 |
1.8 |
346,546 |
3,811 |
| Inferred Resources |
9,969 |
0.21 |
1.6 |
46,101 |
503 |
| Kemess East |
Indicated Resources |
55,864 |
0.41 |
2.0 |
503,663 |
3,601 |
| Inferred Resources |
117,152 |
0.34 |
1.8 |
871,407 |
6,739 |
| Orion (50%) |
Indicated Resources |
554 |
- |
309 |
- |
5,503 |
| Inferred Resources |
91 |
- |
95 |
- |
275 |
Notes to Mineral Reserve and Resource tables:
| · | Mineral Reserves and Resources have been stated as at December 31, 2014.
|
| · | Mineral Resources are exclusive of Mineral Reserves. Mineral Resources
that are not Mineral Reserves do not have demonstrated economic viability. |
| · | El Chanate and Young-Davidson assumed a gold price of $1,250 per ounce
for reserves and $1,450 per ounce for resources. |
| · | Kemess Underground assumed a gold price of $1,300 per ounce, a silver
price of $23.00 per ounce, and a copper price of $3.00 per pound for reserves. Kemess Underground assumed a $13.00 NSR cutoff for
resources. Kemess East assumed a $15.00 NSR cutoff for resources. |
| · | Lynn Lake assumed a gold price of $1,555 per ounce for resources. |
| · | Orion assumed a gold price of $850 per ounce and a silver price of $13.00
per ounce for resources. |
| · | Mineral Reserves assume the following cutoff grades and process recoveries:
|
| · | Young-Davidson - Surface: 0.50 gpt cutoff, 91% mill recovery |
| · | Young-Davidson - Underground: 1.90 gpt cutoff, 91% mill recovery |
| · | El Chanate: 0.15 gpt cutoff, 30%-65% leach recovery |
| · | Kemess Underground: $15 NSR cutoff, mill recovery of 72% for gold and
91% for copper |
| · | Mineral Resources and Mineral Reserves have been classified in accordance
with Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") "CIM Definition Standards - For Mineral Resources
and Mineral Reserves" adopted by the CIM Council in accordance with the requirements of National Instrument 43-101 Standards
of Disclosure for Mineral Projects ("NI 43-101"), as is required by Canadian securities regulatory authorities. In addition,
while the terms "Measured", "Indicated and "Inferred" Mineral Resources are required pursuant to NI 43-101,
the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC, and mineral resource
information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the
requirements of the SEC. Investors should understand that "Inferred" Mineral Resources have a great amount of uncertainty
as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not
to assume that any part or all of AuRico's Mineral Resources constitute or will be converted into Reserves. |
| · | Orion Mineral Resources are reflected on a 50% basis. Following
the completion of a joint venture agreement, Minera Frisco, S.A.B. de C.V. has a 50% interest in the Orion project. |
| · | Lynn Lake Mineral Resources are reflected on a 25% basis. AuRico acquired
a 25% interest in the Lynn Lake properties in November 2014. |
| · | Mineral Reserve and Resource tonnage and contained metal have been rounded
to reflect the accuracy of the estimate, and numbers may not add due to rounding. |
| · | The Company's normal data verification procedures have been used in collecting,
compiling, interpreting and processing the data used to estimate mineral reserves and mineral resources and data underlying the
information, opinion and outlook contained herein. Independent data verification has not been performed. |
| · | Mineral Resources were prepared under the supervision and review of Jeffrey
Volk, CPG, FAusIMM, the Director of Reserves and Resources, for AuRico Gold Inc. Mineral Reserves were prepared under the supervision
and review of Chris Bostwick, FAusIMM, the Senior Vice President Technical Services, for AuRico Gold Inc. Both Messrs Volk and
Bostwick are "Qualified Persons" as defined by National Instrument 43-101. |
About AuRico Gold
AuRico Gold is a leading Canadian gold producer with mines and projects in North America that have significant production growth
and exploration potential. The Company is focused on its core operations including the cornerstone Young-Davidson gold mine
in northern Ontario, and the El Chanate mine in Sonora State, Mexico. AuRico's project pipeline also includes the advanced development
Kemess Property in northern British Columbia and the Lynn Lake Gold Camp in northern Manitoba. The Company also has other exploration
opportunities in Canada and Mexico. AuRico's head office is located in Toronto, Ontario, Canada.
Cautionary Statement
This press release contains forward-looking statements and forward-looking information as defined under Canadian and U.S. securities
laws. All statements, other than statements of historical fact, are forward-looking statements. The words "expect",
"believe", "anticipate", "will", "intend", "estimate", "forecast",
"budget" and similar expressions identify forward-looking statements. Forward-looking statements include information
as to strategy, plans or future financial or operating performance, such as the Company's expansion plans, project timelines, production
plans, projected cash flows or capital expenditures, cost estimates, projected exploration results, reserve and resource estimates
and other statements that express management's expectations or estimates of future performance.
Forward-looking statements are necessarily based upon a number
of factors and assumptions that, while considered reasonable by management, are inherently subject to significant uncertainties
and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking
statements, including: uncertainty of production and cost estimates; fluctuations in the price of gold and foreign exchange rates;
the uncertainty of replacing depleted reserves; the risk that mining operations do not meet expectations; the risk that projects
will not be developed accordingly to budgets or timelines, changes in laws in Canada, Mexico and other jurisdictions in which the
Company may carry on business; risks of obtaining necessary licenses, permits or approvals for operations or projects; disputes
over title to properties; the speculative nature of mineral exploration and development; risks related to aboriginal title claims;
compliance risks with respect to current and future environmental regulations; disruptions affecting operations; opportunities
that may be pursued by the Company; employee relations; availability and costs of mining inputs and labor; the ability to secure
capital to execute business plans; volatility of the Company's share price; continuation of the dividend and dividend reinvestment
plan; the effect of future financings; litigation; risk of loss due to sabotage and civil disturbances; the values of assets and
liabilities based on projected future cash flows; risks arising from derivative instruments or the absence of hedging; adequacy
of internal control over financial reporting; changes in credit rating; and the impact of inflation. Actual results and developments
are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein.
Such statements are based on a number of assumptions which may prove to be incorrect, including assumptions about: business and
economic conditions; commodity prices and the price of key inputs such as labour, fuel and electricity; credit market conditions
and conditions in financial markets generally; revenue and cash flow estimates, production levels, development schedules and the
associated costs; ability to procure equipment and supplies and on a timely basis; the timing of the receipt of permits and other
approvals for projects and operations; the ability to attract and retain skilled employees and contractors for the operations;
the accuracy of reserve and resource estimates; the impact of changes in currency exchange rates on costs and results; interest
rates; taxation; and ongoing relations with employees and business partners. The Company disclaims any intention or obligation
to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as
required by applicable law.
Cautionary Note to U.S. Investors Concerning Measured,
Indicated and Inferred Resources
This press release uses the terms "measured," "indicated" and "inferred" resources. We advise
investors that while those terms are recognized and required by Canadian regulations, the United States Securities and Exchange
Commission does not recognize them. "Inferred" resources" have a great amount of uncertainty as to their existence
and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be
upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility
or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral
resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any
part of an inferred mineral resource exists, or is economically or legally mineable.
SOURCE AuRico Gold Inc.
%CIK: 0001078217
For further information:
please visit the AuRico Gold website at www.auricogold.com
or contact:
Scott Perry
President and Chief Executive Officer
AuRico Gold Inc.
1-647-260-8880
Anne Day
Vice President, Investor Relations and Communications
AuRico Gold Inc.
1-647-260-8880
CO: AuRico Gold Inc.
CNW 16:32e 19-FEB-15