AURIZON AND TYPHOON DRILL 112.50 GRAMS/TONNE OF GOLD OVER 6.0 METRES ON THE FAYOLLE PROJECT
September 29 2010 - 6:34PM
PR Newswire (Canada)
VANCOUVER, Sept. 29 /CNW/ -- Shares Listed: Toronto Stock Exchange
- Ticker Symbol - ARZ NYSE Amex - Ticker Symbol - AZK U.S.
Registration: (File 001-31893) News Release Issue No. 27 - 2010
VANCOUVER, Sept. 29 /CNW/ - Aurizon (TSX:ARZ; AMEX:AZK) ("Aurizon"
or the "Company") is pleased to announce results from the first
four holes from the exploration program on the Fayolle property in
north-western Quebec. The current drill program is the first phase
of a work program totalling $3.5 million to be spent by Aurizon
under the joint venture agreement announced on May 18th 2010. The
Fayolle property is 100% owned by Typhoon Exploration Inc.
("Typhoon") and Aurizon can earn a 50% interest, subject to an
underlying 2% net smelter royalty, by incurring expenditures of $10
million over four years. Aurizon can earn an additional 15%
interest for a total interest of 65% by either delivering a
feasibility study or spending an additional $15 million on the
project. The property is located on the Porcupine Destor Break, 10
kilometres north of Aurizon's Joanna project. A January 19, 2007
resource estimate report prepared for Typhoon dated February 21,
2007 titled "Mineral Resources Evaluation of the Fayolle Gold
Deposit 43-101 Technical Report" by Alain Carrier, M.Sc., P. Geo,
of InnovExplo Inc. (the "InnovExplo Report"), which is available on
SEDAR at www.sedar.com under Typhoon's profile, reported that the
Fayolle deposit extends down to 200 metres and hosts an inferred
resource of approximately 2,191,000 tonnes at a grade of 1.6 grams
per tonne for 113,000 ounces of gold, using a cut off grade of 0.5
grams per tonne According to the InnovExplo Report, the existing
resources are comprised of a combination of high-grade material and
low-grade disseminated pyrite. In planning the current program,
Aurizon developed a spatial model for grade distribution that has
identified high-grade zones trending perpendicular to the main
deformation corridor which is oriented NW-SE. The results of the
first four drill holes which were drilled at N250 appear to confirm
the new model with improved continuity between mineralized zones
compared to the previous program, where the holes were generally
drilled at N330 degrees. To date, 4,648 metres have been drilled in
fourteen holes as part of a 15,000 metre program aimed to test the
new grade model on the Fayolle deposit and to explore the entire
deformation corridor transecting the property along a strike length
of more than 2 kilometres. Drill results and associated geological
interpretations have been received for the first four holes
(FA-10-01 to FA-10-04, totalling 1,455 metres) which have been
drilled in the Fayolle deposit using a 50 metre spacing to test
geometry and grade consistency. The drill core was systematically
sampled. Assays and/ or verifications are still pending for the
remaining 10 holes drilled to date. The best result from the first
four holes was from hole FA-10-04 which returned 112.50 grams per
tonne of gold over 6.0 metres. This intersection is located within
the central portion of the deposit, within the inferred resource
envelope identified by the InnovExplo Report. The best results from
each of the first four holes are shown in the table below. It is
possible that the results shown in the table below, for holes
FA-10-01, FA-10-02 and FA-10-03, come from stacked parallel lenses
forming a 60 metre wide corridor down to a depth of 200 metres.
Mineralized zones appear to be cut perpendicular to their
orientation, enhancing the true width interpretation.
------------------------------------------------------------- Hole
From To Core length Grade number (metres) (metres) (metres)
(grams/tonne gold)
-------------------------------------------------------------
FA-10-04 61.0 67.0 6.0 112.50
-------------------------------------------------------------
FA-10-03 208.0 211.0 3.0 6.30
-------------------------------------------------------------
FA-10-02 250.0 252.0 2.0 5.72
-------------------------------------------------------------
FA-10-01 192.0 193.5 1.5 33.79
-------------------------------------------------------------
Mineralization is hosted by strongly sheared and brecciated
ultramafic rocks and dykes of varied but generally intermediate
composition. Alteration is strong, marked by a carbonate
replacement of ultramafic rocks and hematization of intrusions.
Gold is found as free grains, locally reaching a millimetre scale,
filling cracks and veinlets in both host rock types. Outlook The
current exploration program at Fayolle is aimed at expanding the
current resource laterally and down dip and at gaining enough
geological knowledge to explore efficiently the favourable
deformation corridor transecting the property. The current
exploration program includes two drill rigs operating for the
remainder of the year representing an estimated additional
investment of approximately $3.0 million. Quality Control and
Qualified Person Core assays are performed on core sawed in half,
with standard fire assay procedures and atomic absorption finish.
Certified reference material, duplicate and blanks are inserted in
the sample sequence for quality control. Primary assaying is
performed by ALS Chemex of Val d'Or. The rejects for all samples
returning (greater than)10 g/t Au are totally pulverized and
re-assayed. All drill core is oriented using Fordia's "Corientr"
tool to interpret geological structures, and the first three holes,
FA-10-01 to FA-10-03, were also surveyed every 3 metres using both
Flexit and Gyro instruments to compare deviations. Information of a
scientific or technical nature included in this release, other than
information derived from the InnovExplo Report, has been prepared
under the supervision of Martin Demers, P. Geo., Exploration
Manager of Aurizon and Qualified Person under NI 43-101. Readers
are cautioned that neither Aurizon nor any qualified person on
behalf of Aurizon has verified the data disclosed in the InnovExplo
Report or any of the sampling, analytical or test data underlying
the opinions and estimates set forth in the InnovExplo Report, and
assume no responsibility for such information. Additional
Information The attached sketch shows the drill holes announced in
this news release compared to previous drilling.
http://files.newswire.ca/734/Fayolleproject.pdf About Aurizon
Aurizon 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 Amex under the symbol "AZK". Additional information
on Aurizon and its properties is available on Aurizon's website at
www.aurizon.com. Technical information on drill holes from this new
release
---------------------------------------------------------------------
Hole ID Easting UTM Northing UTM Azimuth Dip Length (m)
---------------------------------------------------------------------
FA-10-01 662320.9 5367206.6 250 -50 423
---------------------------------------------------------------------
FA-10-02 662303.0 5367147.0 250 -50 411
---------------------------------------------------------------------
FA-10-03 662324.0 5367261.0 250 -50 396
---------------------------------------------------------------------
FA-10-04 662180.6 5367155.5 250 -50 225
---------------------------------------------------------------------
FORWARD LOOKING STATEMENTS AND INFORMATION This 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.
Specifically, this news release contains forward-looking
information with respect to future exploration work on the Fayolle
property. Forward-looking information contained in this news
release is based on certain assumptions that the Company believes
are reasonable, that the current price of and demand for gold will
be sustained or will improve. 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,
the risk that actual results of exploration activities will be
different than anticipated, that required supplies, equipment or
personnel will not be available or will not be available on a
timely basis or that the cost of labour, equipment or supplies 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 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 accidents, labour
disputes and other risks generally associated with exploration,
unanticipated delays in obtaining governmental approvals or
financing or in the completion of exploration 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 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 not to 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 U.S. READERS As 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 may
use 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. AURIZON
MINES LTD., David P. Hall, President and C.E.O., Telephone:
604-687-6600, Toll Free: 1-888-411-GOLD, Fax: 604-687-3932, Martin
Bergeron, Vice President, Operations, Telephone: 819-874-4511, Fax:
819-874-3391, Web Site: www.aurizon.com : Email: info@aurizon.com
Or Renmark Financial Communications Inc., 1550 Metcalfe, Suite 502,
Montreal, QC, H3A 1X6, Barry Mire: bmire@renmarkfinancial.com,
Maurice Dagenais: mdagenais@renmarkfinancial.com, Media: Lynn
Butler : lbutler@renmarkfinancial.com, Tel: (514) 939-3989, Fax:
(514) 939-3717
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