AURIZON ANNOUNCES FURTHER DRILL RESULTS FROM THE FAYOLLE PROJECT
December 16 2010 - 7:00AM
PR Newswire (Canada)
VANCOUVER, Dec. 16 /CNW/ -- Shares Listed: Toronto Stock Exchange -
Ticker Symbol - ARZ NYSE Amex: - Ticker Symbol - AZK U.S.
Registration: (File 001-31893) News Release Issue No. 36 - 2010
VANCOUVER, Dec. 16 /CNW/ - Aurizon (TSX:ARZ; AMEX:AZK) ("Aurizon"
or "the Company") is pleased to announce a new series of drill
results from the exploration program on the Fayolle project located
20 kilometres north-east of Rouyn-Noranda, Québec and 10 kilometres
north of Aurizon's Joanna project. 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 18, 2010
with Typhoon Exploration Inc ("Typhoon"). The Fayolle property is
100% owned by Typhoon and Aurizon can earn a 50% interest, subject
to an underlying 2% net smelter royalty, by incurring expenditures
of $10 million, and subscribing for $2 million in common shares of
Typhoon. 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. Additional drill
results and associated geological interpretations have been
received for holes FA-10-12 to FA-10-21, which have been drilled in
the Fayolle deposit using a 25 to 50 metre spacing to confirm the
new geometrical interpretation and grade consistency. The first
eleven drill holes of this 2010 campaign were reported on September
29 and November 2, 2010. Assays and/or verifications are
still pending for an additional five holes (FA-10-22, FA-10-23,
FAX10-01 to FAX-10-03) that have been drilled to date. The
best results received are from hole FA-10-20, which returned 5.1
grams per tonne of gold over 10.5 metres in a zone of intense
brecciation with visible gold, and from hole FA-10-14, which
returned 10.8 grams per tonne of gold over 4.0 metres. The best
results from the ten drill holes reported in this news release are
shown in the table below. All of the results for holes
FA-10-12 to FA-10-21 are reported in a table at the end of this
news release. True widths are estimated to be approximately 75% of
core length. ________________________________________________ | | |
| | Grade | | Hole | From | To | Length |(grams/tonne| | Number
|(metres)|(metres)|(metres)| gold) |
|________|________|________|________|____________| |FA-10-20| 28.0
| 38.5 | 10.5 | 5.1 |
|________|________|________|________|____________| |FA-10-14| 270.0
| 274.0 | 4.0 | 10.8 |
|________|________|________|________|____________| |FA-10-13| 148.0
| 161.0 | 13.0 | 3.0 |
|________|________|________|________|____________| |FA-10-17| 118.0
| 119.7 | 1.7 | 6.4 |
|________|________|________|________|____________| |FA-10-21| 77.0
| 121.0 | 44.0 | 1.3 |
|________|________|________|________|____________| The intersection
from hole FA-10-20 is located in the western end of the Fayolle
deposit, approximately 30 metres west of drill hole FA-10-04,
which returned 112.0 grams per tonne of gold over
6.0 metres (see the attached map). This new intersection
appears to confirm the mineralization model, with multiple stacked
sub-vertical high-grade lenses striking NNW, hosted inside an
important deformation corridor trending E-W. These lenses are
stacked with a general 45° east-dipping rake (see the attached
cross-section). The new geological model has therefore allowed
prediction of new lenses west and upwards from the main Fayolle
deposit. Holes FA-10-20 and FA-10-21 both returned anomalous gold
assays at greater depth than the aforementioned lenses. The
anomalies may indicate the presence of mineralized lenses further
west. This would also be in accordance with the new geological
model. Mineralization is hosted by strongly brecciated, altered and
deformed ultramafic rocks and by dykes of varied composition, but
generally intermediate and bordered by breccias as described
above. The grade can generally be correlated with the
intensity of brecciation and quartz-carbonate flooding. Alteration
is characterized by carbonates and fuchsite in ultramafic rocks and
by hematite in dykes. Gold is mostly observed as free grains
up to a millimetre in size, as fracture-filling and veinlets in
both host rocks. Outlook To date, 9,098 metres have been drilled in
twenty-six holes as part of a 15,000 metre program of approximately
thirty nine (39) holes 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 2.5
kilometres. The same geological model applied on the Fayolle
deposit will be used to explore efficiently the rest of the
property. The current exploration program includes two drill rigs
operating at an estimated cost of approximately $3.0 million.
Correction In the news release dated November 2, 2010, the results
for hole FA 10-8 should have read as follows:
________________________________________________ | | | | | Grade |
| Hole | From | To | Length |(grams/tonne| | Number
|(metres)|(metres)|(metres)| Gold) |
|________|________|________|________|____________| |FA-10-08| 109.0
| 117.0 | 8.0 | 11.4 |
|________|________|________|________|____________| instead of
8.8 grams of gold per tonne over 11.0 metres from 109.0
to 120.0 metres. Quality Control and Qualified Person All drill
core is oriented using Fordia's "Corientr" tool to measure the
geological structures of the drill core. 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 10 g/t Au are
totally pulverized and re-assayed Information of a scientific or
technical nature included in this release has been prepared under
the supervision of Martin Demers, P. Geo., Exploration Manager of
Aurizon and Qualified Person under NI 43-101. Additional
information The attached sketch shows the position of the drill
holes and a schematic section of the Fayolle deposit
http://files.newswire.ca/734/SketchNR121610.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.
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. Hole ID E N Total From To Length Grade (mE) (mN) length
(m) (m) (m) (g/t Au) 89.0 90.2 1.2 0.6 FA-10-12 662297 5367091 330
176.0 179.0 3.0 0.5 FA-10-13 662348 5367137 343 113.0 121.0 8.0 0.5
148.0 161.0 13.0 3.0 including 152.1 154.0 1.9 9.9 209.0 210.0 1.0
3.7 215.0 216.0 1.0 4.5 131.0 132.0 1.0 1.1 224.0 235.0 11.0 0.5
FA-10-14 662473 5367155 453 259.0 260.0 1.0 4.2 270.0 274.0 4.0
10.8 246.0 247.0 1.0 1.1 FA-10-15 662440 5367170 501 271.0 272.0
1.0 1.1 FA-10-16 662403 5367236 462 251.7 263.1 11.4 0.4 FA-10-17
662371 5367305 444 118.0 119.7 1.7 6.4 FA-10-18 662290 5367302 312
No significant values FA-10-19 662218 5367276 420 No significant
values 28.0 38.5 10.5 5.1 51.0 55.0 4.0 1.9 FA-10-20 662131 5367164
240 85.0 90.0 5.0 1.7 171.0 175.0 4.0 1.3 FA-10-21 662152 5367121
306 77.0 121.0 44.0 1.3 including 94.0 98.0 4.0 3.9 162.5 163.3 0.8
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p/p table valign="top" cellspacing="0" border="0"tr valign="top"td
align="center" colspan="2"bAURIZON MINES LTD./b/td/tr tr
valign="top"td align="center"David Hall, President and C.E.O.br/
Telephone: (604) 687-6600br/ Toll Free: 1-888-411-GOLDbr/ Fax:
(604) 687-3932/td td align="center"Martin Bergeron, Vice President,
Operationsbr/ Telephone: (819) 874-4511br/ Fax: (819)
874-3391/td/tr tr valign="top"td align="center" colspan="2"Web
Site: a href="http://www.aurizon.com"www.aurizon.com/a Email: a
href="mailto:info@aurizon.com"info@aurizon.com/a/td/tr tr
valign="top"td align="center" colspan="2"or/td/tr tr valign="top"td
align="center" colspan="2"bRen/bbma/bbrk Financial Communications
Inc./bbr/ 1550 Metcalfe, Suite 502br/ Montreal, QC H3A
1X6br/ Barry Mire: a
href="mailto:bmire@renmarkfinancial.com"bmire@renmarkfinancial.com/abr/
Maurice Dagenais: a
href="mailto:mdagenais@renmarkfinancial.com"mdagenais@renmarkfinancial.com/abr/
Media: Lynn Butler: a
href="mailto:lbutler@renmarkfinancial.com"lbutler@renmarkfinancial.com/abr/
Tel: (514) 939-3989 Fax: (514) 939-3717/td/tr/table
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