VANCOUVER, Oct. 27 /CNW/ -- Shares Listed: Toronto Stock Exchange -
Ticker Symbol - ARZ NYSE Amex: - Ticker Symbol - AZK U.S.
Registration: (File 001-31893) News Release Issue No. 29 - 2010
VANCOUVER, Oct. 27 /CNW/ - Aurizon Mines Ltd. (TSX: ARZ; NYSE Amex:
AZK) is pleased to report that an updated mineral resource estimate
has been completed for the Principal Area at its Casa Berardi Mine,
in north-western Québec. The updated mineral resource estimate was
prepared by Scott Wilson Roscoe Postle Associates Inc ("Scott
Wilson RPA") in collaboration with Aurizon's personnel. The updated
mineral resource estimate integrates the results of the 2009-2010
infill drill program that was completed last winter in the
Principal Area. It will be included in the Pre-feasibility study of
an open pit mining operation for the area that is currently in
progress. The updated mineral resource estimate for the Principal
Area includes the following: - A 94% increase (335,000 ounces) of
in-pit measured and indicated mineral resources to 5,345,000 tonnes
at an average grade of 4.02 grams of gold per tonne or 690,000
ounces of gold (cut-off grade: 0.86 g/t) when compared to the
previous estimate as at December 31, 2009. - A decrease of 6%
(-10,000 ounces) in underground measured and indicated mineral
resources outside the pit shell to 719,000 tonnes at an average
grade of 6.99 grams of gold per tonne or 162,000 ounces of gold
(cut-off grade of 4.0 g/t) when compared to the previous estimate
as at December 31, 2009. The objectives of the infill drill program
were to increase the quantity and improve the quality of the
mineral resources previously defined in the Principal Area. "The
measured and indicated mineral resources have been substantially
increased in the Principal Area," said Martin Bergeron, P.Eng.,
Vice-President of Operations. "This will have a very positive
impact on the Pre-feasibility study that is expected to be
completed before the end of this year," he added. Table: Principal
Area - Mineral Resources
-------------------------------------------------------------------------
Grade Cut- August 31, 2010 off ----------------------------------
(Gold g/t) Category Tonnes Grade Gold (t) (g/t) (oz)
--------------------------------------------------------------
Measured 163,000 6.85 36,000 0.86 Indicated 5,182,000 3.93 654,000
------------------------------------------------ In-Pit M + I
5,345,000 4.02 690,000 Inferred 1,366,000 2.96 130,000
--------------------------------------------------------------
Measured 95,000 6.80 21,000 4.0 Indicated 624,000 7.02 141,000
------------------------------------------------ Underground M + I
719,000 6.99 162,000 Inferred 446,000 6.60 95,000
--------------------------------------------------------------
Measured 258,000 6.83 57,000 Total In-Pit + Indicated 5,807,000
4.26 795,000 ------------------------------------------------
Underground M + I 6,064,000 4.37 852,000 Inferred 1,812,000 3.86
225,000
--------------------------------------------------------------
Table: Principal Area - Mineral Resources
-------------------------------------------------------------------------
Grade Cut- December 31, 2009 off ----------------------------------
(Gold g/t) Category Gain/Loss Tonnes Grade Gold (oz) (t) (g/t) (oz)
-------------------------------------------------------------------------
Measured 0 0.00 0 36,000 0.86 Indicated 1,785,000 6.19 355,000
299,000 -----------------------------------------------------------
In-Pit M + I 1,785,000 6.19 355,000 355,000 Inferred 841,000 5.97
161,000 (31,000)
-------------------------------------------------------------------------
Measured 0 0.00 0 21,000 4.0 Indicated 837,000 6.38 172,000
(31,000)
-----------------------------------------------------------
Underground M + I 837,000 6.38 172,000 (10,000) Inferred 836,000
5.97 161,000 (66,000)
-------------------------------------------------------------------------
Measured 0 0.00 0 57,000 Total In-Pit + Indicated 2,622,000 6.25
527,000 268,000
-----------------------------------------------------------
Underground M + I 2,622,000 6.25 527,000 325,000 Inferred 1,678,000
5.97 322,000 (97,000)
-------------------------------------------------------------------------
The mineral resource estimate has been calculated using the
Canadian Institute of Mining, Metallurgy and Petroleum ("CIM")
Definitions Standards for mineral resources in accordance with
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects. The mineral resource estimates were estimated based on
the following geological and resource modeling parameters: - A
total of 38 lenses were interpreted on vertical cross-sections by
Casa Berardi geology personnel over a vertical distance of 500
metres from surface, and over an east west distance of 950 metres.
In general, the drill hole spacing is sufficiently dense to
confidently interpret the quartz vein systems. - A 3D wireframe was
created using a minimum grade of 0.5 grams of gold per tonne and a
minimum horizontal width of 3 metres. - Grade capping factors were
applied to raw assays prior to compositing and ranged from 15 to 75
grams of gold per tonne. - Two metre composites were created inside
each 3D solid, along drill holes and block grades were estimated by
inverse distance interpolation with a search sphere of a 50 metre
radius. - Block volumes were converted to tonnages using a density
determined for each lense or group of lenses ranging from 2.69 to
2.95 tonnes per cubic metre. - Mineral resource classification is
guided by drill hole spacing, variogram range, and proximity to
development that confirms the continuity of mineralisation.
Classification also takes into consideration the distance of drill
hole composites to block centres; measured resources are up to a
maximum of 15 metre mean distance of composites to block centres;
indicated resources are from 15 to 25 metres maximum mean distance;
and inferred resources are from 25 to 50 metres maximum mean
distance of composites to block centres. - Scott Wilson RPA has
evaluated the open pit potential by carrying out a preliminary open
pit optimization with Whittle software. - The change in the August
31, 2010 mineral resources in comparison to the December 31, 2009
mineral resources is explained by: - Additional drilling. - A lower
cut-off used for geological interpretation. - A higher gold price
US$850/oz for Whittle pit optimization in 2010 compared to
US$750/oz in 2009. Geology Gold mineralization occurs within
multiple lenses located on both sides of the Casa Berardi break and
dips slightly to the South. Mineralization is found in veins,
stockworks and sulphide rich replacement zones in a
volcanic-sedimentary bearing environment. The zones extend for more
than 825 metres along the entire length of the Principal Area
deposit. Outlook The updated resource block model for the Principal
Area will be used in the Pre-feasibility study of an open pit
mining operation, currently in progress by BBA inc., Montreal,
Quebec, and expected to be completed by the end of the year.
Additional surface and underground drilling will be conducted
during the winter to test the extensions of the zones which remain
open in all directions. The 600 metre extension of the underground
exploration drift at the 550 metre level has recently been
completed which will provide an access to verify the continuity
between the Principal Area and the 118, 120 and 123 Zones. Quality
Control and Qualified Person Information on data verification,
Quality Assurance and Quality Control ("QA/QC"), can be found in
the 'Technical Report on the Casa Berardi Mine', dated February 9,
2009, which can be found under Aurizon's profile on www.sedar.com.
Information of a scientific or technical nature in this news
release has been prepared by or under the supervision of Sylvain
Picard, P. Eng., Principal Production Geologist of the Company.
Mineral resource estimates were prepared by Bernard Salmon, ing.,
General Manager - Quebec of Scott Wilson RPA, a "qualified person"
as defined by National Instrument 43-101. Additional Information A
sketch is attached showing the updated resource outline for the
Principal Area at the Casa Berardi Mine. All other information
previously released on Casa Berardi Mine is also available on
Aurizon's website at www.aurizon.com.
http://files.newswire.ca/734/Sketch_NR102710.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. 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.
Forward-looking information includes, but is not limited to,
statements regarding an updated mineral resource estimate for the
Principal Area at the Company's Casa Berardi Mine, the effects of
and timing of a pre-feasibility study on the Principal Area, timing
and expectations of future drilling and work programs, strategic
plans and expected outcomes. 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", 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, labour 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 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 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 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. AURIZON
MINES LTD.: David 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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