The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Aurizon Mines Ltd.: New Drill Results Expand the Heva Area and the Hosco West Extension and Include 55.4 Grams of Gold per Tonne Over 3.0 Metres

Monday, July 09, 2012

Aurizon Mines Ltd.: New Drill Results Expand the Heva Area and the Hosco West Extension and Include 55.4 Grams of Gold per Tonne Over 3.0 Metres07:30 EDT Monday, July 09, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2012) - Aurizon Mines Ltd. (TSX:ARZ)(NYSE MKT:AZK)(NYSE Amex:AZK) is pleased to announce results from the ongoing 2012 exploration program on the Heva and Hosco West Extension areas of the Joanna property, located 20 kilometres from Rouyn-Noranda, in north-western, Quebec.This phase of the drill program focuses on the Heva area of the Joanna property as well as the area immediately west of the proposed Hosco pit. It includes 48 new holes. The Heva deposit resource inventory includes 270,000 ounces at 1.9 grams of gold per tonne in the measured and indicated mineral resource category and 421,000 ounces at 1.7 grams of gold per tonne in the inferred mineral resource category using a cut off grade of 0.5 grams of gold per tonne over a minimum width of 5 metres (see Aurizon news release dated June 5, 2012).The best results received to date are 55.4 grams of gold per tonne over 3.0 metres in hole JA-12-994 at a vertical depth of 275 metres, and 10.2 grams of gold per tonne over 5.0 metres in hole JA-12-1032 at a vertical depth of 400 metres (all results represent true widths), and confirm the following:Continuity of the mineralized system along a strike length of 2.5 kilometres westward from the Hosco proposed pit to the Heva area.Distinct mineralogy between Hosco and Heva indicating a transition from a higher to a lower arsenic concentration on the Heva side.Higher grade mineralization at several locations along the property.Twenty-four (24) of the forty-eight holes (48) returned between one and five mineralized intersections, calculated with a minimum cut off of 0.5 grams of gold per tonne over 5 meters above a vertical depth of 200 metres. Eleven (11) holes returned one to three positive intervals down to a maximum depth of 400 metres, using a cut-off grade of 3 grams of gold per tonne over a minimum thickness of 3 metres.The best results from the 2012 drilling program are shown below by area: (See sketch attached for location).Zone/areaHoleSection (metres)From (metres)To (metres)True width (metres)Grade (grams of gold per tonne)Hosco West ExtensionJA-12-10156,85026126865.6JA-12-10296,900303307.66.74.2Inc.305.9307.61.614Heva EastJA-12-9946,600250265.5355.4Inc.262263.51.3115Heva WestJA-12-10074,55033.240.556.9JA-12-10324,7508188510.2Hosco West ExtensionThe program continues to extend the shallow dipping mineralization identified immediately west of the Hosco pit shell (see Aurizon news release dated April 16, 2012) using a 50 metre spacing between holes.The drilling program has intersected, with sixteen (16) additional holes, a mineralized structure south of the Cadillac fault, composed of stacked metric layers that are characterized by an increasing level of biotite-quartz-albite-sericite alteration with minor quartz veining. Gold grades are visually correlated to finely disseminated arsenopyrite and pyrrhotite concentrations.The Hosco West Extension corresponds to wide continuous alteration halos, dipping 55 degrees north, returning mineralized intervals between 3 and 9 grams of gold per tonne over 3 to 9 metres when a cut off grade of 3 grams of gold per tonne is used with a 3 metre minimum width. Mineralization is recognized along a strike length of 600 metres from section 7,250 metres East (corresponding to Hosco pit limit of the feasibility study released June 5 2012) to section 6,650 metres. Drilling focused on following the mineralization's lateral plunge with a limited vertical span of about 150 metres. The down dip mineralization remains open below 300 metres and open laterally.Heva EastThe transition between the Hosco and Heva mineralization is marked by a strongly altered and mineralized intrusion located 35 metres South of the Cadillac Fault. In this area, hole JA-12-994 returned 55.4 grams of gold per tonne over a width of 3 metres, including 115 grams per tonne over 1.3 metres.Mineralization is mainly composed of pyrite and pyrrhotite disseminated in intrusion and associated to quartz-tourmaline veins stockwork. Veins are developed near the contact with sediments with free gold observed in association with sulphides.Heva WestEight (8) of thirteen (13) holes returned an average grade of 6 grams of gold per tonne over an average width of 4.3 metres in the western extension of the Heva deposit. The drilled area covers 500 metres laterally between section 4,500 metres East and 5,000 metres East, from surface down to 400 metres.In contrast to the Heva area where multiple zone stacking is observed, Heva West mineralization corresponds to only one mineralized structure developed immediately south of the Cadillac Fault, in a distinct massive amphibolite replacement zone dipping 60 degrees north. Gold mineralization is mostly related to <5% of disseminated pyrrhotite. The discreet nature of mineralization and the apparent lack of quartz veining had probably prevented its identification from a historical sampling. This zone, interpreted as a continuous panel, remains open down dip and laterally."This series of drill results represents a positive test of the Joanna down dip potential. The results that have been received to date confirm the higher gold grade consistency and mineralization continuity at Joanna. The improved understanding of the plunging effect of mineralization along the fault, should increase the expected success of our deep exploration program. Our objective is to reproduce other historic discoveries along the Cadillac Fault that have led to recently opened operating mines," said Martin Demers, General Manager of Exploration.OutlookFour drills are currently active with the addition of a $4.2 million, 2012 second phase exploration program. Based on the encouraging results obtained to date, deeper holes to follow the continuity of the mineralization down dip to 600 metres will commence shortly.The reconnaissance drilling on the Heva deposit is nearing completion. An in-pit resource update will be performed during the year. In addition, the interpretation of the higher grade trends show a well-defined plunge, and have the potential to move the project toward a combination of surface and underground production targets.Quality Control and Qualified PersonsCore assays are performed on core sawed in half, with standard ALS Chemex preparation and fire assay on 30-gram preparation followed by atomic absorption finish. All assays above 10 grams of gold per tonne are replicated on the same pulp preparation using a gravity finish. Certified reference material, duplicate and blanks are inserted in the sample sequence for quality control and controlled at assay's reception. Assay checking on pulp and coarse rejects are carried out on approximately 15% of samples. For additional information on Quality Assurance and Quality control, refer to the current technical report on the property titled, "NI 43-101 Technical Report Mineral Resource Estimation Joanna Gold Project, Rouyn Noranda, Quebec, Aurizon Mines Ltd. September 2011 Updated", filed on Sedar at www.sedar.com. Primary assaying is performed by ALS Chemex and check assays were carried out by Laboratoire d'Analyse Bourlamaque of Val d'Or.Drill hole planning, implementation and the quality control program is supervised by Martin Demers P.Geo., General Manager of Exploration, a qualified person as defined by National Instrument 43-101. Mr. Demers is also responsible for the scientific and technical information in this news release.Additional InformationOne sketch is attached showing the Heva area of the Joanna property. Detailed results from the additional holes are reported in the tables attached. All other information previously released on the Joanna Project is available on the Aurizon website at www.aurizon.com.To view accompanying sketch, visit the following link: http://media3.marketwire.com/docs/Issue18_Sketch.pdfAbout AurizonAurizon is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most favourable mining jurisdictions and prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the NYSE MKT under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at www.aurizon.com.FORWARD LOOKING STATEMENTS AND INFORMATIONThis news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to estimated mineral resources, anticipated effect of the completed drill results on the Joanna project, the interpretation of those results, the timing and expectations of future work programs. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", "has the potential" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved.The forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, including, with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based, as set out in this news release and the technical report for the property, that the current price of and demand for gold will be sustained or will improve, the supply of gold will remain stable, that the general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms and that the Company will not experience any material accident, labor dispute, or failure of plant or equipment.However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, conclusions of economic evaluations, the risk that actual results of exploration activities will be different than anticipated, that cost of labour, equipment or materials will increase more than expected, that the future price of gold will decline, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected; that changes in project parameters as plans continue to be refined may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labour disputes and other risks generally associated with mining, unanticipated delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors and other risks more fully described in Aurizon's Annual Information Form filed with the securities commission of all of the provinces and territories of Canada and in Aurizon's Annual Report on Form 40-F filed with the United States Securities and Exchange Commission, which are available on the Company's website at www.aurizon.com and on Sedar at www.sedar.com and on Edgar at www.sec.gov/. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.CAUTIONARY NOTE TO US READERSAs a Canadian reporting issuer, the Company is subject to rules, policies and regulations issued by Canadian regulatory authorities and is required to provide detailed information regarding its properties including mineralization, drilling, sampling and analysis, security of samples and mineral resource and mineral reserve estimates. In addition, as a Canadian reporting issuer, the Company is required to describe mineral resources associated with its properties utilizing Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions of "indicated" or "inferred", which categories of resources are recognized by Canadian regulations but are not recognized by the United States Securities and Exchange Commission ("SEC").The SEC allows mining companies, in their filings with the SEC to disclose only those mineral deposits they can economically and legally extract or produce. Accordingly, information contained in this News Release regarding our mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations of the Commission thereunder.In particular, this News Release uses the term "indicated" resources. U.S. readers are cautioned that while that term is recognized and required by Canadian regulations, the SEC does not recognize it. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into mineral reserves.This News Release also uses the term "inferred" resources. U.S readers are cautioned that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral 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 pre-feasibility studies, except in rare cases. U.S. readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.Hosco West ExtensionFrom surface down to 200 metres - cut-off grade of 0.5 g/t over minimum width of 5 metresHoleE (m)FromToHole length (metres)True width (metres)Grade (grams per tonne gold)JA-12-9827050156.0161.15.15.02.5inc.157.4160.53.13.04.0166.0178.512.512.21.9211.5219.07.57.31.1240.0245.15.15.01.3JA-12-10007099NSJA-12-10047050NSJA-12-10126951172.5178.15.65.01.1184.5190.05.55.01.0201.0204.23.23.04.7JA-12-10146900195.0208.513.511.61.0JA-12-10186800NSJA-12-10197150256.0264.08.07.71.3JA-12-10267049208.5220.512.09.61.0Under 200 metres - cut-off grade of 3 g/t over a minimum width of 3 metres.HoleE (m)FromToHole length (metres)True width (metres)Grade (grams per tonne gold)JA-12-10017101266.7270.03.33.03.4294.7298.03.33.04.0JA-12-10146900261.0268.07.06.05.6262.0264.02.01.710.0JA-12-10156850301.0309.08.06.95.0306.0307.01.00.910.0JA-12-10166849NSJA-12-10176800258.4262.03.63.03.2321.9325.53.63.04.7JA-12-10197150287.9291.03.13.06.0289.0290.01.01.011.7JA-12-10267049289.0292.73.73.03.5JA-12-10277150NSJA-12-10286975221.0226.05.04.43.3247.5252.04.53.94.3273.0276.43.43.03.4JA-12-10296900303.0307.64.64.26.7305.9307.61.71.614.0JA-12-10366748320.1323.63.53.04.5321.7322.50.80.610.0Heva EastFrom surface down to 200 metres - cut-off grade of 0.5 g/t over a minimum width of 5 metresHoleE (m)FromToHole length (metres)True width (metres)Grade (grams per tonne gold)JA-12-9486501135.0142.07.05.01.1JA-12-9595750217.5223.96.45.01.1JA-12-9716650NSJA-12-9746300NSJA-12-9855950NSJA-12-9896149NSJA-12-990645025.536.010.59.91.542.049.57.57.10.7JA-12-9926550NSJA-12-9936551119.2125.15.95.03.2inc.123.0124.01.00.811.8154.6160.55.95.01.1180.1186.05.95.01.0198.0203.95.95.01.5219.0228.09.07.60.6JA-12-9966100NSJA-12-9975900NSJA-12-998590024.730.05.35.01.526.329.53.23.02.462.267.55.35.00.9JA-12-9995800144.0156.012.011.30.7172.5178.56.05.73.0JA-12-1005665036.842.05.25.01.1JA-12-10105701126.0132.06.05.81.0JA-12-10115699131.0149.018.012.62.2136.0142.06.04.23.8JA-12-10306700NSUnder 200 metres - cut-off grade of 3 g/t over a minimum width of 3 metres.HoleE (m)FromToHole length (metres)True width (metres)Grade (grams per tonne gold)JA-12-9595750NSJA-12-9946602250.5265.515.013.312.9inc.260.8264.23.43.055.4inc.262.0263.51.51.3115.0JA-02-10376700NSHeva WestFrom surface down to 200 metres - cut-off grade of 0.5 g/t over a minimum width of 5 metresHoleE (m)FromToHole length (metres)True width (metres)Grade (grams per tonne gold)JA-12-1006465022.534.512.010.22.8inc.22.531.38.87.53.6JA-12-1007455733.240.57.35.06.9inc.37.538.00.50.398.146.553.87.35.01.4JA-12-10084550226.5231.85.35.01.4JA-12-1009465036.842.05.25.01.6192.8198.05.25.00.9JA-12-1020475094.8100.55.75.00.9207.0221.014.012.51.5inc.213.0216.43.43.03.6JA-12-1021475085.591.56.05.61.8JA-12-10224850265.3270.75.45.14.4inc.267.5270.73.23.06.9inc.269.7270.71.00.918.9JA-12-10244950156161.435.435.05.6inc.156157.51.51.3817.6JA-12-1031465016.523.06.55.01.8inc.17.121.03.93.03.0190.5196.76.25.00.9JA-12-1032475081.088.07.05.010.2inc.84.085.01.00.747.7Under 200 metres, cut-off grade of 3 g/t over a minimum width of 3 metres.HoleE (m)FromToHole length (metres)True width (metres)Grade (grams per tonne gold)JA-12-10234850NSJA-12-10254950NSJA-12-10334753476.3480.03.73.09.7inc.478.0479.01.10.923.4U.S. Registration (File 001-31893)News Release Issue No. 18 - 2012FOR FURTHER INFORMATION PLEASE CONTACT: George PaspalasAurizon Mines Ltd.President & CEO604-687-6600ORMartin BergeronAurizon Mines Ltd.Vice President Operations819-874-4511ORInvestor RelationsAurizon Mines Ltd.604-687-6600 or Toll Free: 1-800-411-GOLD (4653)604-687-3932 (FAX)jennifer.north@aurizon.com or info@aurizon.comwww.aurizon.com