Aurizon Mines Ltd. ("Aurizon") (TSX:ARZ)(NYSE Amex:AZK) is pleased
to report that a $5 million, second phase program has been
initiated on the Marban Block property, located in the Malartic
gold camp, Abitibi region of Quebec.
"We see the second phase of this program as a positive step and
look forward to another successful drilling program at Marban,"
said George Paspalas, Aurizon's President and CEO. "Our vision is
growth, therefore, having properties at various stages of
development, such as Marban, compliments our flagship Casa Berardi
Mine and Joanna project, and provides a strong development
pipeline."
The first phase of the program commenced on August 30, 2010, and
was completed on August 9, 2011. The program consisted of 50,253
metres of diamond drilling (170 holes, 8 extensions) at a total
cost of C$6 million. Drilling was distributed between the Marban
(41,270 metres) and Norlartic (4,319 metres) deposits and
exploration drill hole fences between the two deposits (4,664
metres). Highlights include the identification of two new gold
zones surrounding the former Marban mine named the 'High Grade
Western Zone' and 'Eastern Down Dip Zone' (see news release dated
September 19, 2011). Results for 33 holes remain to be
released.
The $5 million second phase program will include 34,000 metres
of diamond drilling on the Marban deposit, updated resource
estimates and basic technical studies. Drilling and technical work
is expected to commence in November 2011 and will continue through
to the second quarter of 2012.
Marban drilling
The objectives of the second phase program are:
1. Improving the quality of the Marban near surface resources
The most recent drill results demonstrated that there is a
higher grade gold distribution around the Marban deposit in
distinct zones. Different areas of the deposit have been identified
for delineation above -250 metre vertical depth using a 25 or 50
metre drill hole spacing. The objective is to improve the quality
of the known resources and to increase the potential to find more
mineralized corridors within a pit shell to help decrease the
stripping ratio.
2. Developing a mineral inventory below -250 metre vertical depth
This objective targets the identification of new gold resources
inside the Marban structural zone. Preliminary interpolation on the
Eastern Down dip Zone indicates a strong potential to identify gold
resources between a vertical depth of -350 and -600 metres. The
mineralised structure is considered open laterally and downdip.
New holes and wedging from previous holes are planned at
vertical depths of -300 metres to -1,000 metres to test the
consistency and extension of the Eastern Down Dip Zone at an
average drill hole spacing of 50 metres.
Technical program
A total of C$460,000 in engineering work and updated resource
modelling and estimates are planned on the Marban and Norlartic
deposits. Engineering studies, which will take into account near
surface in-pit mineralisation and include preliminary metallurgical
tests and a baseline environmental study, are expected to be
completed by mid 2012.
"Results obtained with the first phase program confirm that gold
distribution indicators, such as ounces per vertical metre are
comparable to other major deposits in the Abitibi belt and create a
strong incentive to accelerate the exploration of the Marban
deposit," said Martin Demers, P.Geo., Aurizon's Manager of
Exploration.
Technical Info, QA/QC and Qualified Persons
Information of a scientific or technical nature in this news
release has been reviewed by Martin Demers, P.Geo, Manager of
Exploration and a "qualified person" under National Instrument
43-101 solely for the purpose of determining that it accurately
reflects information reported in the news release.
Aurizon Option
Aurizon can earn up to a 65% interest in the Marban Block
property under the terms of an option and joint venture agreement
dated July 5, 2010 between NioGold and Aurizon. The initial 50%
interest can be earned by incurring expenditures of C$20 million
over three years, completing an updated NI 43-101 compliant mineral
resource estimate, and by making a resource payment equal to the
sum of C$30 (or C$40 if the price of gold is then above US$1,560)
multiplied by 50% of the number of total gold ounces in the
Measured and Indicated resource categories plus C$20 (or C$30 if
the price of gold is then above US$1,560) multiplied by 50% of the
number of total gold ounces in the Inferred resource category,
based on the updated resource estimate. NioGold is the project
operator during the initial earn-in period (see news release dated
July 6, 2010).
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 Marban
Block 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.
U.S. Registration (File 001-31893)
Contacts: Aurizon Mines Ltd. George Paspalas President & CEO
604-687-6600 Aurizon Mines Ltd. Martin Bergeron VP Operations
819-874-4511 Aurizon Mines Ltd. Jennifer North Investor Relations
604-687-6600 or Toll Free: 1-800-411-GOLD (4653) 604-687-3932
(FAX)info@aurizon.comwww.aurizon.com Renmark Financial
Communications Inc. Barry Mire
514-939-3989bmire@renmarkfinancial.com Renmark Financial
Communications Inc. Matthew Planche
514-939-3989mplanche@renmarkfinancial.com Renmark Financial
Communications Inc. Guy Hurd Media 514-939-3989 514-939-3717
(FAX)ghurd@renmarkfinancial.com
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