Aurizon Mines Ltd. (TSX:ARZ)(NYSE Amex:AZK) is pleased to announce
results from the first series of holes from the 2012 exploration
drilling program on the Heva and Hosco Zones of the Joanna Project,
located 20 kilometres from Rouyn-Noranda, in north-western,
Quebec.
"We have always believed that the Joanna property had
significant exploration potential in addition to the approximately
2.5 million gold resource ounces found at Hosco, which is currently
the basis for the Joanna feasibility study," said George Paspalas,
President and Chief Executive Officer. "We embarked on a drill
program late last year to commence testing some of this potential,
with the strategic intent of understanding the full development
potential of the property, whilst we were completing the Joanna
feasibility, which is on target for completion at the end of the
second quarter 2012. The results to date are very encouraging, and
whilst they are early stage, there are two key elements here that
will be our focus for future drilling of the property. Firstly, we
appear to be finding higher grade mineralization at Hosco, and
secondly, initial metallurgical test work of the Heva
mineralization indicates that it is non-refractory."
The best results received to date from thirty six (36) holes are
7 grams of gold per tonne over 9.4 metres in hole JA-11-970 and 3.5
grams per tonne over 21.6 metres in holes JA-11-981 which includes
an interval of 9.4 grams of gold per tonne over 5.8 metres. Both
holes are located respectively at 100 and 200 metres from the
actual in pit resources of the Hosco Zone.
Fifty eight (58) new holes totalling 16,348 metres have been
completed to date on the program targeting the Heva Zone area and
western extension of the Hosco deposit between surface and a depth
of 200 metres, which corresponds to a 2.5 kilometre strike length
along the Cadillac Fault. The objective of the program was to test
the continuity of the near surface mineralized system westward from
the Hosco deposit using an initial 100 metre spacing.
Thirty three (33) of the thirty six holes (36) returned between
one and six mineralized intersections, calculated with minimum cut
off parameters of 0.5 grams per tonne gold over 5 meters. Of these,
eight (8) holes returned at least one drill interval with a grade
of more than 3 grams per tonne gold over a minimum thickness of 3
metres.
The best results from the 2012 drilling program are shown below
by area: (See sketch attached for location)
----------------------------------------------------------------------------
Section From To True width Grade
Zone/area Hole (m) (m) (m) (m) (g/t)
----------------------------------------------------------------------------
Hosco West
Extension JA-11-970 6,985 248.0 258.0 9.4 7.0
----------------------------------------------------------------------------
JA-11-981 7,100 199.5 222.0 21.6 3.5
----------------------------------------------------------------------------
Including 7,100 214.5 220.5 5.8 9.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Heva East JA-11-995 6,150 79.5 84.7 5.0 10.1
----------------------------------------------------------------------------
Including 80.7 81.4 0.7 65.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Heva JA-11-938 5,600 139.5 167.5 19.6 2.3
----------------------------------------------------------------------------
including 5,600 142.5 149.0 4.6 7.7
----------------------------------------------------------------------------
Including 5,600 142.5 144.0 1.0 27.6
----------------------------------------------------------------------------
----------------------------------------------------------------------------
JA-11-956 5,650 54.0 70.5 15.8 1.8
----------------------------------------------------------------------------
Including 5,650 54.0 57.1 3.0 6.2
----------------------------------------------------------------------------
Mineralized intervals are calculated using a minimum cut off
grade of 2 grams per tonne gold over 3 metres.
Hosco West Extension
Seven (7) holes were drilled following the immediate western
extension of the Hosco pit shell as defined in the 2011 resources
update (see Aurizon news release dated June 13, 2011). Five (5)
holes have intersected a stacking of multiple zones related to the
Hosco deposit, inside a 100 metre thick envelope following a gentle
plunge (25-30 degrees ) to the west along a 250 metre strike length
from section 7,250 metres East (corresponding to Hosco pit limit)
to section 7,000 metres East.
A combined metal factor (grade x width) from 10 to 97 was
achieved in holes JA-11-970, 980, 981, 1002 and 1003 with two to
six distinct mineralized intervals returning grades between 0.6 to
9.0 grams of gold per tonne over 5 to 35 metres in true widths.
Results obtained from these holes confirm a strong lateral
continuity of a wide low grade mineralized system. The best results
are from higher grade lenses and have returned 7.0 grams of gold
per tonne over 9.4 metres and 9.4 grams of gold per tonne over 5.8
metres, both in true thickness, respectively, in holes JA-11-970
and 981. In those particular cases, gold grade is directly related
to sulphide enrichment and quartz veining increasing volume.
At the Hosco Zone, mineralization is related to parallel, and
more typically, an East-West quartz vein system embedded in
biotite-quartz and locally white mica altered fine grains
sediments. The two prominent sulphide minerals that are present are
arsenopyrite and pyrrhotite. Higher gold values are related to free
visible gold in quartz.
Heva East
Approximately 1 kilometre westward from the Hosco West area, a
series of 22 holes have been drilled along a 950 metre portion of
the Cadillac Fault covering a previous inferred resource outline
(See Aurizon press release dated June 13, 2011). The drill hole
spacing varied between 50 and 100 metres and one or two holes per
section have been drilled.
The best result was obtained in hole JA-11-995 which returned
10.1 grams of gold per tonne over 5 metres (true thickness) in a
quartz vein in contact with the Cadillac Fault, which includes a
high grade 0.7 metre sample of 65.8 grams of gold per tonne. Ten
holes (10) included one (1) or two (2) mineralized intervals with
grades in the range of 0.6 to 2.3 grams of gold per tonne over
thicknesses of 5 to 14 metres. Every hole contains or has
consistent mineralization and is located inside a 500 metre wide
envelope, from section 6,000 metres East to 6,500 metres East, at a
mid distance between Hosco West and the Heva Zone.
A westerly moderate plunge can be extrapolated when JA-07-36
results drilled down dip at a depth of 350 metres are correlated
with near surface mineralization. The results obtained (see Aurizon
press release dated June 13, 2011) in this previous hole correspond
to 3.2 grams per tonne over 9.2 metres included in a broader
interval of 2.4 grams of gold per tonne over 14.2 metres.
At this location, gold mineralization is associated with
amphibolites replacement in sediments and a strong presence of
pyrrhotite on both sides of the Cadillac Fault.
Heva Zone
A series of eight (8) holes targeting the eastern extension of
the Heva deposit have been drilled down to 250 metres of vertical
depth, on three 50 metre widely spaced sections.
The best results obtained from holes JA-11-938 and JA-11-956
returned 7.0 grams of gold per tonne over 4.6 metres (true
thickness) and 6.2 grams of gold per tonne over 3 metres (true
thickness) respectively, and are correlated to the main mineralized
structure located 100 to 150 metres laterally eastward from mined
out stopes. Two other holes, JA-11-937 and JA-11-957, returned
mineralized intervals of 3 grams of gold per tonne over 3 metres in
two different lenses. This area was drilled by the previous owner,
however, with discontinuous sampling, it was generally restrained
to quartz veins.
Generally, every hole cut a stacking of 1 to 6 lenses having
mineralized intervals of 0.6 grams of gold per tonne over variable
thicknesses from 5 to 21.6 metres. A cumulative metal factor (grade
X thickness) for each hole varies between 12 and 65.
The lenses stacking form the core of the Heva Zone, composed of
a 60 - 65 degree north dipping envelope showing thicknesses of
between 30 and 60 metres. In the former mine area, the main lenses
(Zone P, P2 and PF) are located on the footwall contact of the
Cadillac Fault, and up to 30 metres from this contact. The
mineralization takes the form of a network of centimetric to metric
grey quartz veins within biotite-tourmaline altered wacke and
argilite. Sulphides, mostly pyrrhotite, are rare, representing
generally less than 1% over sampled core length and are
disseminated in veins and host rocks. Locally, gold is remobilized
inside the chlorite schist of the Cadillac Fault.
Other yet to be defined lenses (Zone S, ISO, and AMPO) are
developed in amphibolitized conglomerates between 70 to 110 metres
from the fault zone footwall.
"This series of drill results marks a turning point in our
exploration," said Martin Demers, General Manager of Exploration.
"Most of the drilling work performed on the property since 2007 has
focused on defining low grade surface resources in the Hosco Zone
area. The current program supports the hypothesis that higher grade
mineralization with continuity and metal factors that may support
an underground mining operation, could be developed along the
Joanna portion of the Cadillac Fault."
Metallurgy
Three composite 40 to 46 kilogram samples were sent to SGS
Minerals Services for metallurgical testing. These samples have
been prepared with assays rejects coming from the Heva zone. The
grades of the three samples, based on assays results, were 1.78,
3.89 and 1.44 grams of gold per tonne, respectively. Initial whole
cyanidation testing showed gold recoveries ranging from 93% to 99%
after 48 hours of leach time. Another series of tests were
performed with gravity separation done before cyanidation. Gold
rich concentrates showed gravity recoveries of 47%, 58% and 62% for
the three samples.
Outlook
Two drills are currently active as part of a $3.4 million 2012
exploration program. Based on the encouraging results obtained to
date, deeper holes to follow the continuity of the mineralization
down dip to 400 metres, has commenced with the addition of two more
drills.
The reconnaissance drilling on the Heva deposit is nearing
completion. An in-pit resource update will be performed during the
year. Alternatively, the interpretation of the higher grade trends
showing a defined plunge, has the potential to move the project
toward a combination of surface and underground targets, and
another phase of exploration drilling will be initiated.
Quality Control
Core assays are performed on core sawed in half, with standard
ALS Chemex preparation and fire assay on 30 gram preparation
followed by atomic absorption finish. All assays above 10 g/t are
replicated on the same pulp preparation using a gravity finish.
Certified reference material, duplicate and blanks are inserted in
the sample sequence for quality control and controlled at assay's
reception. Assay checking on pulp and coarse rejects are carried
out on approximately 15% of samples. For additional information on
Quality Assurance and Quality control, refer to the current
technical report on the property entitled, "NI 43-101 Technical
Report Mineral Resource Estimation Joanna Gold Project, Rouyn
Noranda, Quebec, Aurizon Mines Ltd. September 2011 Updated", filed
on SEDAR at www.sedar.com. Primary assaying is performed by ALS
Chemex and check assays were carried out by Laboratoire d'Analyse
Bourlamaque of Val d'Or.
Drill hole planning, implementation and the quality control
program is supervised by Martin Demers P.Geo., General Manager of
Exploration, a qualified person as defined by National Instrument
43-101. Mr. Demers is also responsible for the scientific and
technical information in this news release.
Additional Information
One sketch is attached showing the Heva area of the Joanna
property. Detailed results from the additional holes are reported
in the tables attached. All other information previously released
on the Joanna Project is also available on the Aurizon website at
www.aurizon.com.
To view the sketch, please visit the following link:
http://media3.marketwire.com/docs/aurizon-Joanna-Heva-Hosco-041612.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 with respect to estimated mineral resources, anticipated
effect of the completed drill results on the Joanna project, the
interpretation of those results, the timing of a feasibility study,
and timing and expectations of future work programs. 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", "has the potential" 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, labor 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 the Company's website at www.aurizon.com and 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.
Heva Zone intersections with values greater than 0.5g/t over 5 metres
----------------------------------------------------------------------------
Hole
Length True width Grade
Hole E (m) From To (m) (m) (g/t Au)
----------------------------------------------------------------------------
JA-11-937 5601 106.5 124.5 18.0 16.3 0.8
147.0 160.5 13.5 12.3 1.0
214.5 220.0 5.5 5.0 2.0
----------------------------------------------------------------------------
JA-11-938 5601 139.5 167.5 28.0 19.6 2.3
142.5 144.0 1.5 1.0 27.6
175.5 206.0 30.5 21.6 0.9
----------------------------------------------------------------------------
JA-11-939 5599 23.2 33.0 9.8 9.3 1.1
195.7 201.0 5.3 5.0 2.2
----------------------------------------------------------------------------
JA-11-955 5600 66.0 88.0 22.0 20.8 0.9
----------------------------------------------------------------------------
JA-11-956 5651 54.0 70.5 16.5 15.8 1.8
54.8 56.0 1.2 1.1 14.7
79.5 86.0 6.5 6.2 2.1
----------------------------------------------------------------------------
JA-11-957 5652 126.8 148.0 21.2 20.3 1.5
161.0 172.0 11.0 10.6 0.6
180.8 186.0 5.2 5.0 2.4
----------------------------------------------------------------------------
JA-11-958 5748 94.5 109.5 15.0 14.2 1.2
126.0 136.5 10.5 10.0 1.0
----------------------------------------------------------------------------
JA-11-959 5750 217.5 223.9 6.4 5.0 1.1
246.0 252.4 6.4 5.0 1.3
----------------------------------------------------------------------------
Heva Zone intersections with values greater than 3 g/t over 3 metres
----------------------------------------------------------------------------
Hole
Length True width Grade
Hole E (m) From To (m) (m) (g/t Au)
----------------------------------------------------------------------------
JA-11-937 5601 214.5 217.8 3.3 3.0 3.1
----------------------------------------------------------------------------
JA-11-938 5601 142.5 149.0 6.5 4.6 7.7
----------------------------------------------------------------------------
JA-11-956 5651 54.0 57.1 3.1 3.0 6.2
----------------------------------------------------------------------------
JA-11-957 5652 129.0 133.0 4.0 3.8 3.2
182.9 186.0 3.1 3.0 3.7
----------------------------------------------------------------------------
Heva East intersections with values greater than 0.5 g/t over 5 metres
----------------------------------------------------------------------------
Hole
Length True width Grade
Hole E (m) From To (m) (m) (g/t Au)
----------------------------------------------------------------------------
JA-11-947 6500 42.0 49.0 7.0 5.9 1.2
174.2 180.0 5.8 5.0 2.3
----------------------------------------------------------------------------
JA-11-948 6500 135.0 142.0 7.0 5.0 1.1
164.0 171.0 7.0 5.0 0.6
----------------------------------------------------------------------------
JA-11-949 6500 83.0 88.5 5.5 5.0 1.8
110.2 120.0 9.8 8.9 1.3
----------------------------------------------------------------------------
JA-11-963 6300 129.0 142.5 13.5 10.3 1.0
----------------------------------------------------------------------------
JA-11-964 6700 64.5 76.5 12.0 11.3 1.1
----------------------------------------------------------------------------
JA-12-967 5850 60.6 69.0 8.5 8.0 1.7
----------------------------------------------------------------------------
JA-12-969 5950 72.0 79.5 7.5 7.1 1.3
----------------------------------------------------------------------------
JA-12-978 6000 143.1 148.5 5.4 5.0 1.4
----------------------------------------------------------------------------
JA-12-979 6000 159.0 169.5 10.5 7.5 0.7
----------------------------------------------------------------------------
JA-12-986 6050 151.5 166.5 15.0 14.2 0.9
----------------------------------------------------------------------------
JA-12-988 6200 75.7 81.0 5.3 5.0 1.5
----------------------------------------------------------------------------
JA-12-991 6350 198.0 203.8 5.8 5.0 1.0
237.0 244.5 7.5 6.5 1.3
----------------------------------------------------------------------------
JA-12-995 6150 79.5 84.7 5.2 5.0 10.1
80.7 81.4 0.7 0.7 65.8
----------------------------------------------------------------------------
Holes JA-11-965, 966, 968, 971, 972, 975, 976, 977 and 987 returned no
significant values
Hosco West Extension intersections with values greater than 0.5 g/t over 5
metres
----------------------------------------------------------------------------
Hole
Length True width Grade
Hole E (m) From To (m) (m) (g/t Au)
----------------------------------------------------------------------------
JA-12-1002 7150 38.5 46.5 8.0 7.0 0.9
56.5 62.2 5.7 5.0 2.9
incl. 58.7 59.2 0.5 0.4 27.4
----------------------------------------------------------------------------
JA-12-1003 7050 182.5 192.0 9.5 8.5 1.3
204.5 210.0 5.6 5.0 1.8
220.0 226.0 6.0 5.4 1.1
231.8 246.4 14.6 13.1 1.3
267.5 273.3 5.8 5.2 1.2
----------------------------------------------------------------------------
JA-12-980 7150 169.5 192.0 22.5 21.8 1.4
198.0 234.0 36.0 34.9 1.4
241.5 252.0 10.5 10.2 0.8
----------------------------------------------------------------------------
JA-12-981 7100 169.5 178.5 9.0 8.7 1.4
199.5 222.0 22.5 21.6 3.5
incl. 216.0 219.0 3.0 2.8 12.4
243.8 249.0 5.2 5.0 2.1
----------------------------------------------------------------------------
JA-12-983 7200 NS
----------------------------------------------------------------------------
JA-12-984 7000 160.7 165.8 5.2 5.0 1.7
----------------------------------------------------------------------------
JA-12-970 6985 195.0 210.0 15.0 14.1 0.9
248.0 258.0 10.0 9.4 7.0
incl. 249.0 250.0 1.0 0.9 16.7
----------------------------------------------------------------------------
Hosco West Extension intersections with values greater than 3 g/t over 3
metres
----------------------------------------------------------------------------
Hole
Length True width Grade
Hole E (m) From To (m) (m) (g/t Au)
----------------------------------------------------------------------------
JA-12-980 7150 201.0 205.5 4.5 4.4 4.6
----------------------------------------------------------------------------
JA-12-1001 7150 57 60.4 3.4 3.0 4.8
----------------------------------------------------------------------------
JA-12-981 7100 214.5 220.5 6.0 5.8 9.4
----------------------------------------------------------------------------
JA-12-970 6985 248.0 258.0 10.0 9.4 7.0
----------------------------------------------------------------------------
U.S. Registration (File 001-31893)
Contacts: Aurizon Mines Ltd. George Paspalas President & CEO
604-687-6600 Aurizon Mines Ltd. Martin Bergeron Vice President
Operations 819-874-4511 Aurizon Mines Ltd. Investor
Relationsjennifer.north@aurizon.com Aurizon Mines Ltd. 604-687-6600
or Toll Free: 1-800-411-GOLD (4653) 604-687-3932
(FAX)info@aurizon.com www.aurizon.com
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