AURIZON OPTIONS MIDLAND EXPLORATION'S PATRIS GOLD PROPERTY
December 16 2010 - 9:00AM
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. 37 - 2010
VANCOUVER, Dec. 16 /CNW/ - Aurizon Mines Ltd. (TSX:ARZ; NYSE
Amex:AZK) ("Aurizon") is pleased to announce the signing of an
option agreement with Midland Exploration Inc. ("Midland") (TSX-V:
MD) on the Patris gold property, currently held 100% by
Midland. The property, which comprises 50 claims covering a
surface area of 22 square kilometres, is located in La Pause and
Clericy townships, 30 kilometres northeast of Rouyn-Noranda, and 7
kilometres from Aurizon's Joanna project, in the Abitibi region of
Quebec. Aurizon can acquire a 50% interest in the Patris gold
property during a four-year earn-in period under the following
conditions: -- Cash payments totalling $230,000, of which $40,000
is payable upon signing the agreement; -- Exploration expenditures
totalling $3,000,000, of which $600,000 is a firm commitment in the
first year. Midland will be the initial operator. Upon
acquiring a 50% interest, Aurizon will be the operator and have the
option to acquire an additional 10% interest by delivering a
pre-feasibility study on the property within a four-year period
during which it will make annual cash payments of $80,000 and
complete 40,000 metres of drilling.: "We are pleased to enter into
the option agreement with Midland." said David Hall, Aurizon's
Chief Executive Officer. "The Patris property is well situated in
the heart of the Abitibi gold camp, in the same area where Aurizon
is actively exploring the Joanna and Fayolle properties. This
represents a continuation of Aurizon's strategy to actively explore
an attractive portfolio of properties close to our production and
technical base." Recent exploration work by Midland on the Patris
property consisted of line cutting followed by ground-based
geophysical surveys, comprising a magnetic survey and an IP survey
totalling about 30 kilometres. The latter geophysical method
has the ability to detect even small amounts of mineralization,
often occurring as finely disseminated sulphides in country rocks,
which may contain gold. The newly defined targets mainly consist of
weak chargeability highs combined with higher resistivity values.
This type of IP anomaly is typical of strongly silicified zones and
mineralized felsic intrusive zones. These new anomalies are all
located proximal to the La Pause Fault (Destor-Porcupine South), in
both ultramafic rocks of the Malartic Group and sedimentary rocks
of the Kewagama Group. The Patris property has a very strong
potential for gold discoveries similar to deposits in the Cadillac
and Malartic gold mining camps, as it covers the faulted and folded
contact between sedimentary rocks of the Kewagama Group and mafic
to ultramafic volcanic rocks of the Malartic Group over more than 4
kilometres of strike length. Several new folded structures were
recently interpreted based on magnetic data, which represent
favourable sites for the injection of porphyry intrusions and
deposition of gold mineralization. Many gold showings occur near
this contact. Additional Information The attached sketch shows the
location of the Patris property. Information of a scientific or
technical nature in this news release has been reviewed by Martin
Demers, P. Geo, Manager, Exploration, a Qualified Person as defined
by National Instrument 43-101. 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 report 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
report is made as of the date of this report. 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 and the effects
thereof, the entering into of a final agreement with Midland, the
timing and amount of estimated exploration expenditures, plans and
budgets for and expected timing and results of exploration
activities, Forward-looking information can be identified by the
use of words such as "intends", or statements that certain actions,
events or results "would", "will" be taken, occur or be achieved.
The forward-looking information contained in this report 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 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 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. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/16/c5711.html
table cellspacing="0" valign="top" 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"bRenmark 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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