Aurizon Mines Ltd. (TSX:ARZ)(NYSE MKT:AZK)(NYSE Amex:AZK) is
pleased to announce results from the ongoing 2012 exploration
program on the Heva and Hosco West Extension areas of the Joanna
property, located 20 kilometres from Rouyn-Noranda, in
north-western, Quebec.
This phase of the drill program focuses on the Heva area of the
Joanna property as well as the area immediately west of the
proposed Hosco pit. It includes 48 new holes. The Heva deposit
resource inventory includes 270,000 ounces at 1.9 grams of gold per
tonne in the measured and indicated mineral resource category and
421,000 ounces at 1.7 grams of gold per tonne in the inferred
mineral resource category using a cut off grade of 0.5 grams of
gold per tonne over a minimum width of 5 metres (see Aurizon news
release dated June 5, 2012).
The best results received to date are 55.4 grams of gold per
tonne over 3.0 metres in hole JA-12-994 at a vertical depth of 275
metres, and 10.2 grams of gold per tonne over 5.0 metres in hole
JA-12-1032 at a vertical depth of 400 metres (all results represent
true widths), and confirm the following:
-- Continuity of the mineralized system along a strike length of 2.5
kilometres westward from the Hosco proposed pit to the Heva area.
-- Distinct mineralogy between Hosco and Heva indicating a transition from
a higher to a lower arsenic concentration on the Heva side.
-- Higher grade mineralization at several locations along the property.
Twenty-four (24) of the forty-eight holes (48) returned between
one and five mineralized intersections, calculated with a minimum
cut off of 0.5 grams of gold per tonne over 5 meters above a
vertical depth of 200 metres. Eleven (11) holes returned one to
three positive intervals down to a maximum depth of 400 metres,
using a cut-off grade of 3 grams of gold per tonne 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).
----------------------------------------------------------------------------
Grade
(grams
True of gold
Section From To width per
Zone/area Hole (metres) (metres) (metres) (metres) tonne)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Hosco West Extension JA-12-1015 6,850 261 268 6 5.6
----------------------------------------------------------------------------
JA-12-1029 6,900 303 307.6 6.7 4.2
----------------------------------------------------------------------------
Inc. 305.9 307.6 1.6 14
----------------------------------------------------------------------------
Heva East JA-12-994 6,600 250 265.5 3 55.4
----------------------------------------------------------------------------
Inc. 262 263.5 1.3 115
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Heva West JA-12-1007 4,550 33.2 40.5 5 6.9
----------------------------------------------------------------------------
JA-12-1032 4,750 81 88 5 10.2
----------------------------------------------------------------------------
Hosco West Extension
The program continues to extend the shallow dipping
mineralization identified immediately west of the Hosco pit shell
(see Aurizon news release dated April 16, 2012) using a 50 metre
spacing between holes.
The drilling program has intersected, with sixteen (16)
additional holes, a mineralized structure south of the Cadillac
fault, composed of stacked metric layers that are characterized by
an increasing level of biotite-quartz-albite-sericite alteration
with minor quartz veining. Gold grades are visually correlated to
finely disseminated arsenopyrite and pyrrhotite concentrations.
The Hosco West Extension corresponds to wide continuous
alteration halos, dipping 55 degrees north, returning mineralized
intervals between 3 and 9 grams of gold per tonne over 3 to 9
metres when a cut off grade of 3 grams of gold per tonne is used
with a 3 metre minimum width. Mineralization is recognized along a
strike length of 600 metres from section 7,250 metres East
(corresponding to Hosco pit limit of the feasibility study released
June 5 2012) to section 6,650 metres. Drilling focused on following
the mineralization's lateral plunge with a limited vertical span of
about 150 metres. The down dip mineralization remains open below
300 metres and open laterally.
Heva East
The transition between the Hosco and Heva mineralization is
marked by a strongly altered and mineralized intrusion located 35
metres South of the Cadillac Fault. In this area, hole JA-12-994
returned 55.4 grams of gold per tonne over a width of 3 metres,
including 115 grams per tonne over 1.3 metres.
Mineralization is mainly composed of pyrite and pyrrhotite
disseminated in intrusion and associated to quartz-tourmaline veins
stockwork. Veins are developed near the contact with sediments with
free gold observed in association with sulphides.
Heva West
Eight (8) of thirteen (13) holes returned an average grade of 6
grams of gold per tonne over an average width of 4.3 metres in the
western extension of the Heva deposit. The drilled area covers 500
metres laterally between section 4,500 metres East and 5,000 metres
East, from surface down to 400 metres.
In contrast to the Heva area where multiple zone stacking is
observed, Heva West mineralization corresponds to only one
mineralized structure developed immediately south of the Cadillac
Fault, in a distinct massive amphibolite replacement zone dipping
60 degrees north. Gold mineralization is mostly related to less
than 5% of disseminated pyrrhotite. The discreet nature of
mineralization and the apparent lack of quartz veining had probably
prevented its identification from a historical sampling. This zone,
interpreted as a continuous panel, remains open down dip and
laterally.
"This series of drill results represents a positive test of the
Joanna down dip potential. The results that have been received to
date confirm the higher gold grade consistency and mineralization
continuity at Joanna. The improved understanding of the plunging
effect of mineralization along the fault, should increase the
expected success of our deep exploration program. Our objective is
to reproduce other historic discoveries along the Cadillac Fault
that have led to recently opened operating mines," said Martin
Demers, General Manager of Exploration.
Outlook
Four drills are currently active with the addition of a $4.2
million, 2012 second phase exploration program. Based on the
encouraging results obtained to date, deeper holes to follow the
continuity of the mineralization down dip to 600 metres will
commence shortly.
The reconnaissance drilling on the Heva deposit is nearing
completion. An in-pit resource update will be performed during the
year. In addition, the interpretation of the higher grade trends
show a well-defined plunge, and have the potential to move the
project toward a combination of surface and underground production
targets.
Quality Control and Qualified Persons
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 grams of
gold per tonne 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 titled, "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 available on the Aurizon website at
www.aurizon.com.
To view accompanying sketch, visit the following link:
http://media3.marketwire.com/docs/Issue18_Sketch.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 MKT 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 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.
Hosco West Extension
---------------------------------------------------------------------------
From surface down to 200 metres - cut-off grade of 0.5 g/t over minimum
width of 5 metres
---------------------------------------------------------------------------
Grade
(grams
Hole True per
length width tonne
Hole E (m) From To (metres) (metres) gold)
---------------------------------------------------------------------------
JA-12-982 7050 156.0 161.1 5.1 5.0 2.5
inc. 157.4 160.5 3.1 3.0 4.0
166.0 178.5 12.5 12.2 1.9
211.5 219.0 7.5 7.3 1.1
240.0 245.1 5.1 5.0 1.3
---------------------------------------------------------------------------
JA-12-1000 7099 NS
---------------------------------------------------------------------------
JA-12-1004 7050 NS
---------------------------------------------------------------------------
JA-12-1012 6951 172.5 178.1 5.6 5.0 1.1
184.5 190.0 5.5 5.0 1.0
201.0 204.2 3.2 3.0 4.7
---------------------------------------------------------------------------
JA-12-1014 6900 195.0 208.5 13.5 11.6 1.0
---------------------------------------------------------------------------
JA-12-1018 6800 NS
---------------------------------------------------------------------------
JA-12-1019 7150 256.0 264.0 8.0 7.7 1.3
---------------------------------------------------------------------------
JA-12-1026 7049 208.5 220.5 12.0 9.6 1.0
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Under 200 metres - cut-off grade of 3 g/t over a minimum width of 3 metres.
---------------------------------------------------------------------------
Grade
(grams
Hole True per
length width tonne
Hole E (m) From To (metres) (metres) gold)
---------------------------------------------------------------------------
JA-12-1001 7101 266.7 270.0 3.3 3.0 3.4
294.7 298.0 3.3 3.0 4.0
---------------------------------------------------------------------------
JA-12-1014 6900 261.0 268.0 7.0 6.0 5.6
262.0 264.0 2.0 1.7 10.0
---------------------------------------------------------------------------
JA-12-1015 6850 301.0 309.0 8.0 6.9 5.0
306.0 307.0 1.0 0.9 10.0
---------------------------------------------------------------------------
JA-12-1016 6849 NS
---------------------------------------------------------------------------
JA-12-1017 6800 258.4 262.0 3.6 3.0 3.2
321.9 325.5 3.6 3.0 4.7
---------------------------------------------------------------------------
JA-12-1019 7150 287.9 291.0 3.1 3.0 6.0
289.0 290.0 1.0 1.0 11.7
---------------------------------------------------------------------------
JA-12-1026 7049 289.0 292.7 3.7 3.0 3.5
---------------------------------------------------------------------------
JA-12-1027 7150 NS
---------------------------------------------------------------------------
JA-12-1028 6975 221.0 226.0 5.0 4.4 3.3
247.5 252.0 4.5 3.9 4.3
273.0 276.4 3.4 3.0 3.4
---------------------------------------------------------------------------
JA-12-1029 6900 303.0 307.6 4.6 4.2 6.7
305.9 307.6 1.7 1.6 14.0
---------------------------------------------------------------------------
JA-12-1036 6748 320.1 323.6 3.5 3.0 4.5
321.7 322.5 0.8 0.6 10.0
---------------------------------------------------------------------------
Heva East
---------------------------------------------------------------------------
From surface down to 200 metres - cut-off grade of 0.5 g/t over a minimum
width of 5 metres
---------------------------------------------------------------------------
Grade
(grams
Hole True per
length width tonne
Hole E (m) From To (metres) (metres) gold)
---------------------------------------------------------------------------
JA-12-948 6501 135.0 142.0 7.0 5.0 1.1
---------------------------------------------------------------------------
JA-12-959 5750 217.5 223.9 6.4 5.0 1.1
---------------------------------------------------------------------------
JA-12-971 6650 NS
---------------------------------------------------------------------------
JA-12-974 6300 NS
---------------------------------------------------------------------------
JA-12-985 5950 NS
---------------------------------------------------------------------------
JA-12-989 6149 NS
---------------------------------------------------------------------------
JA-12-990 6450 25.5 36.0 10.5 9.9 1.5
42.0 49.5 7.5 7.1 0.7
---------------------------------------------------------------------------
JA-12-992 6550 NS
---------------------------------------------------------------------------
JA-12-993 6551 119.2 125.1 5.9 5.0 3.2
inc. 123.0 124.0 1.0 0.8 11.8
154.6 160.5 5.9 5.0 1.1
180.1 186.0 5.9 5.0 1.0
198.0 203.9 5.9 5.0 1.5
219.0 228.0 9.0 7.6 0.6
---------------------------------------------------------------------------
JA-12-996 6100 NS
---------------------------------------------------------------------------
JA-12-997 5900 NS
---------------------------------------------------------------------------
JA-12-998 5900 24.7 30.0 5.3 5.0 1.5
26.3 29.5 3.2 3.0 2.4
62.2 67.5 5.3 5.0 0.9
---------------------------------------------------------------------------
JA-12-999 5800 144.0 156.0 12.0 11.3 0.7
172.5 178.5 6.0 5.7 3.0
---------------------------------------------------------------------------
JA-12-1005 6650 36.8 42.0 5.2 5.0 1.1
---------------------------------------------------------------------------
JA-12-1010 5701 126.0 132.0 6.0 5.8 1.0
---------------------------------------------------------------------------
JA-12-1011 5699 131.0 149.0 18.0 12.6 2.2
136.0 142.0 6.0 4.2 3.8
---------------------------------------------------------------------------
JA-12-1030 6700 NS
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Under 200 metres - cut-off grade of 3 g/t over a minimum width
of 3 metres.
---------------------------------------------------------------------------
Grade
(grams
Hole True per
length width tonne
Hole E (m) From To (metres) (metres) gold)
---------------------------------------------------------------------------
JA-12-959 5750 NS
---------------------------------------------------------------------------
JA-12-994 6602 250.5 265.5 15.0 13.3 12.9
inc. 260.8 264.2 3.4 3.0 55.4
inc. 262.0 263.5 1.5 1.3 115.0
---------------------------------------------------------------------------
JA-02-1037 6700 NS
---------------------------------------------------------------------------
Heva West
---------------------------------------------------------------------------
From surface down to 200 metres - cut-off grade of 0.5 g/t over a minimum
width of 5 metres
---------------------------------------------------------------------------
Grade
(grams
Hole True per
length width tonne
Hole E (m) From To (metres) (metres) gold)
---------------------------------------------------------------------------
JA-12-1006 4650 22.5 34.5 12.0 10.2 2.8
inc. 22.5 31.3 8.8 7.5 3.6
---------------------------------------------------------------------------
JA-12-1007 4557 33.2 40.5 7.3 5.0 6.9
inc. 37.5 38.0 0.5 0.3 98.1
46.5 53.8 7.3 5.0 1.4
---------------------------------------------------------------------------
JA-12-1008 4550 226.5 231.8 5.3 5.0 1.4
---------------------------------------------------------------------------
JA-12-1009 4650 36.8 42.0 5.2 5.0 1.6
192.8 198.0 5.2 5.0 0.9
---------------------------------------------------------------------------
JA-12-1020 4750 94.8 100.5 5.7 5.0 0.9
207.0 221.0 14.0 12.5 1.5
inc. 213.0 216.4 3.4 3.0 3.6
---------------------------------------------------------------------------
JA-12-1021 4750 85.5 91.5 6.0 5.6 1.8
---------------------------------------------------------------------------
JA-12-1022 4850 265.3 270.7 5.4 5.1 4.4
inc. 267.5 270.7 3.2 3.0 6.9
inc. 269.7 270.7 1.0 0.9 18.9
---------------------------------------------------------------------------
JA-12-1024 4950 156 161.43 5.43 5.0 5.6
inc. 156 157.5 1.5 1.38 17.6
---------------------------------------------------------------------------
JA-12-1031 4650 16.5 23.0 6.5 5.0 1.8
inc. 17.1 21.0 3.9 3.0 3.0
190.5 196.7 6.2 5.0 0.9
---------------------------------------------------------------------------
JA-12-1032 4750 81.0 88.0 7.0 5.0 10.2
inc. 84.0 85.0 1.0 0.7 47.7
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Under 200 metres, cut-off grade of 3 g/t over a minimum width of 3 metres.
---------------------------------------------------------------------------
Grade
(grams
Hole True per
length width tonne
Hole E (m) From To (metres) (metres) gold)
---------------------------------------------------------------------------
JA-12-1023 4850 NS
---------------------------------------------------------------------------
JA-12-1025 4950 NS
---------------------------------------------------------------------------
JA-12-1033 4753 476.3 480.0 3.7 3.0 9.7
inc. 478.0 479.0 1.1 0.9 23.4
---------------------------------------------------------------------------
U.S. Registration (File 001-31893)
News Release Issue No. 18 - 2012
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 Relations
604-687-6600 or Toll Free: 1-800-411-GOLD (4653) 604-687-3932
(FAX)jennifer.north@aurizon.com or info@aurizon.com
www.aurizon.com
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