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 located 20
kilometres from Rouyn-Noranda, in north-western, Quebec.
"These drill results show consistency with the previous drilling
around Heva and provides further encouragement to pursue the
knowledge required to determine how the non-refractory
mineralization occurs at Heva, and what the potential for higher
grade refractory ore is at the Hosco West Extension," said George
Paspalas, Aurizon's President and CEO. "Our understanding has
increased to the point where we have divided Heva into three
different and distinct mineralized zones, and coupled with the high
grade resource potential at Fayolle, we are excited about the
overall potential for the project."
The focus of this phase of the drill program is Heva and the
area adjacent to the proposed Hosco pit, with the objective of
identifying additional resources at surface and evaluating
underground potential where higher grade trends are present. The
Heva Zone resource inventory is composed of 270,000 ounces at 1.9
grams of gold per tonne in the measured and indicated category and
421,000 ounces at 1.7 grams of gold per tonne in the inferred
category, using a cut-off grade of 0.5 grams of gold per tonne over
a minimum width of 5 metres; and 59,000 ounces at 2.8 grams of gold
per tonne below 300 metres, in the inferred category, using a
cut-off grade of 2.0 grams of gold per tonne (Reference: "Technical
Report Mineral Resources Estimation Joanna gold deposit Aurizon
Mines Ltd. - September 2011 Update", SGS Geostat Ltd., filed on
Sedar). Since this last resource estimation, 170 new holes have
been added.
This press release includes 26 new holes located along a 2.8
kilometre portion of the Cadillac Fault system. The results
received either extend or confirm the influence of high grade
trends previously identified (see Aurizon press release dated July
9, 2012).
Using a minimum cut-off parameter of 0.5 grams of gold per tonne
over 5 meters between surface and a vertical depth of 200 metres,
twelve (12) holes returned between one and five mineralized
intersections.
Using a cut-off grade of 3.0 grams of gold per tonne over a
minimum true thickness of 3 metres, fifteen (15) holes returned one
to two positive intervals down to a maximum depth of 400
metres.
Best results include the following:
----------------------------------------------------------------------------
Grade
(grams of
Section From To True width gold per
Zone/area Hole (metres) (metres) (metres) (metres) tonne)
----------------------------------------------------------------------------
Hosco West
Extension JA-12-1013 6950 243 249 5.2 6.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Heva East JA-12-1056 6400 293 296.9 3.0 6.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Heva JA-12-1046 5750 150 153.2 3.0 9.4
----------------------------------------------------------------------------
JA-12-1048 5675 129 145.5 15 7.5
----------------------------------------------------------------------------
incl. 138 143 4.6 20.8
----------------------------------------------------------------------------
incl. 138 139 0.9 98.0
----------------------------------------------------------------------------
Heva West JA-12-1045 4450 288 291.2 3.0 12.4
----------------------------------------------------------------------------
Hosco West (sections 7200 to 6650)
Hosco West corresponds to a 50 to 200 metre continuous gold
bearing alteration zone recognized along a strike length of 600
metres from section 7250 (corresponding to the West Hosco pit
limit) to section 6650.
Mineralization was intersected in six of seven holes with grades
varying between 3 and 6.5 grams of gold per tonne over an average
thickness of 4 metres. Mineralized intervals are located between
175 and 350 vertical meters. Actual drilling coverage indicates
open down dip and westward extensions.
Heva East (sections 6650 to 5750)
The transition along strike between the Hosco and Heva
mineralization is marked by a strongly altered and mineralized
intrusion located 35 metres south of the Cadillac Fault and
surrounded by a thick envelope of massive amphibolite.
In this environment, high grade gold mineralization is
associated to quartz veins stockworks with disseminated pyrite and
pyrrhotite inside the intrusion, in close proximity to the contact.
A mineralized envelope contour remains to be defined. Hole
JA-12-1056, located at 100 metres from the nearest information,
intersected 6.3 grams of gold per tonne over 3 metres at 300
vertical meters.
Heva (sections 5750 to 5000)
The 150 metre wide section of the Cadillac Fault, corresponding
to the eastern end of the Heva Zone, has been heavily tested as a
result of the high metal factors identified immediately west of the
area (see Aurizon press release dated August 11, 2011). In this
area, gold mineralization is enclosed inside a 10 to 75 metre thick
strongly silicified and veined envelope following the Cadillac
Fault.
Of 10 holes drilled to intersect the mineralization down to 200
vertical meters, 5 holes returned a mineralized interval showing
grades between 5.0 and 9.0 grams of gold per tonne over thicknesses
varying between 3 and 7 metres. The best result came from hole
JA-12-1048, with an average of 7.5 grams of gold per tonne over 15
metres including 98.0 grams per tonne over 0.9 metre.
Heva West (sections 5000 to 4200)
Five (5) holes have been drilled along the western extension of
the Heva deposit where positive results were recently reported (see
Aurizon press release dated July 9, 2012). Hole JA-12-1045 which is
located at the western limit of the mineralized area returned a
result of 12.4 grams of gold per tonne over 3.0 metres. The four
remaining holes, located west of JA-12-1045, returned intervals in
the range of 1.0 to 3.0 grams of gold per tonne over 3 to 5 metres.
Heva West mineralization is in the form of free visible gold in
veins and veinlets concentrated near the contact of a continuous
amphibolites unit.
Geology
The different gold bearing sectors are all located south of the
Cadillac Fault and range from the fault to a distance of 20 to 30
metres. Dip variations are common along strike, going from 50
degrees to 65 degrees north.
Unlike the Hosco zone, the Heva mineralization is characterized
by common free visible gold with varied pyrrhotite concentrations.
Arsenopyrite is sporadically observed in minute amounts. The
transition between the two types of mineralization is observed at
the limit of the Hosco West extension. Quartz veining, associated
with a diffuse silicification, can represent up to 50% of some
mineralized intervals.
An improved understanding of the distribution of a higher metal
factor (grade X thickness) is required, and different plunging
hypothesis are also being tested using 50 to 150 metre drill
spacing. On the geological side, more interpretation work is
planned to improve the drill strategy.
"Recent results confirm the consistency of each mineralized
sector by adding similar grades and thicknesses, which are
compatible with underground resource parameters. By extending the
drilling pattern, we expect to be able to link together mineralized
areas to generate a kilometric lateral continuity," said Martin
Demers, General Manager of Exploration.
Outlook
Three drill rigs are currently active on the property to
complete approximately 10,000 metres of drilling. The focus will be
to establish the connection between areas with better grades and
thicknesses in order to expand and improve the resource base.
It is expected that an in-pit resource update will be initiated
following this drilling program on Heva.
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. To view the sketch, please visit the following link:
http://media3.marketwire.com/docs/arz-0906-sketch.pdf. 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.
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, 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.
Hosco West Extension
----------------------------------------------------------------------------
From surface down to 200mtres : cut-off grade of 0.5 g/t over a minimum
width of 5 metres
----------------------------------------------------------------------------
Hole True
length width Grade
Hole E (m) From To (metres) (metres) (g/t Au)
----------------------------------------------------------------------------
JA-12-1013 6950 187.5 205.5 18.0 15.4 1.7
incl. 202.0 205.5 3.5 3.0 3.2
----------------------------------------------------------------------------
Hosco West Extension
----------------------------------------------------------------------------
Under 200 metres : cut-off grade of 3 g/t over a minimum width of 3 metres
----------------------------------------------------------------------------
Hole True
length width Grade
Hole E (m) From To (metres) (metres) (g/t Au)
----------------------------------------------------------------------------
JA-12-1013 6950 238.5 253.5 15.0 12.9 3.0
incl. 243.0 249.0 6.0 5.2 6.4
----------------------------------------------------------------------------
JA-12-1038 7100 300.0 304.5 4.5 3.9 3.2
----------------------------------------------------------------------------
JA-12-1039 7150 NS(i)
----------------------------------------------------------------------------
JA-12-1040 6900 304.5 307.8 3.3 3.0 3.6
336.0 344.0 8.0 3.0 5.5
----------------------------------------------------------------------------
JA-12-1057 6950 443.0 447.0 4.0 3.8 3.2
----------------------------------------------------------------------------
JA-12-1058 6850 398.0 402.0 4.0 3.9 5.0
----------------------------------------------------------------------------
JA-12-1059 6800 410.7 414.0 3.3 3.0 3.6
439.0 442.3 3.3 3.0 3.1
----------------------------------------------------------------------------
Heva East
----------------------------------------------------------------------------
Under 200 metres : cut-off grade of 3 g/t over a minimum width of 3 metres
----------------------------------------------------------------------------
Hole True
length width Grade
Hole E (m) From To (metres) (metres) (g/t Au)
----------------------------------------------------------------------------
JA-12-1051 6100 NS(i)
----------------------------------------------------------------------------
JA-12-1052 6100 NS(i)
----------------------------------------------------------------------------
JA-12-1056 6400 293.0 296.9 3.9 3.0 6.3
incl. 293.0 294.0 1.0 0.8 20.6
----------------------------------------------------------------------------
NS(i): No significant value
Heva
----------------------------------------------------------------------------
From surface down to 200 metres : cut-off grade of 0.5 g/t over a minimum
width of 5 metres
----------------------------------------------------------------------------
Hole True
length width Grade
Hole E (m) From To (metres) (metres) (g/t Au)
----------------------------------------------------------------------------
JA-12-1046 5750 133.2 146.0 12.8 12.2 1.4
133.2 136.4 3.2 3.0 2.8
150.0 165.2 15.2 14.4 2.9
incl. 150.0 153.2 3.2 3.0 9.4
incl. 152.0 153.0 1.0 1.0 19.9
158.0 161.2 3.2 3.0 3.0
----------------------------------------------------------------------------
JA-12-1047 5750 146.0 153.0 7.0 6.3 1.1
193.0 198.6 5.6 5.0 1.5
196.1 199.5 3.4 3.0 2.4
244.5 250.1 5.6 5.0 1.1
----------------------------------------------------------------------------
JA-12-1049 5675 136.4 178.5 42.1 34.5 1.3
----------------------------------------------------------------------------
JA-12-1048 5675 129.0 145.5 16.5 15.0 7.5
incl. 138.0 143.0 5.0 4.6 20.8
incl. 138.0 139.0 1.0 0.9 98.0
----------------------------------------------------------------------------
JA-12-1050 5675 153.2 191.0 37.9 28.7 2.0
156.0 161.0 5.0 3.8 7.6
incl. 156.0 158.0 2.0 1.5 13.6
167.0 171.0 4.0 3.0 3.0
217.5 224.1 6.6 5.0 1.0
----------------------------------------------------------------------------
JA-12-1066 5675 193.5 198.0 4.5 3.0 3.6
193.5 201.1 7.6 5.0 2.2
----------------------------------------------------------------------------
JA-12-1067 5650 111 122 11 8.40 3.2
142.5 168 25.5 19.80 1.2
incl. 146 149.87 3.87 3.00 3.0
----------------------------------------------------------------------------
JA-12-1068 5625 36.4 57.8 21.4 18.8 2.1
35.6 39.0 3.4 3.0 2.1
51.0 57.8 6.8 6.0 3.8
54.4 57.8 3.4 3.0 5.1
incl. 57.0 57.8 0.8 0.7 19.0
----------------------------------------------------------------------------
JA-12-1069 5600 NS
----------------------------------------------------------------------------
JA-12-1087 5675 49.5 54.8 5.3 5.0 1.1
61.5 91.6 30.1 28.6 2.6
73.5 81.0 7.5 7.1 6.6
incl. 75.0 76.5 1.5 1.4 20.2
179.2 184.5 5.3 5.0 1.4
181.3 184.5 3.2 3.0 2.2
----------------------------------------------------------------------------
JA-12-1089 5675 74.0 84.0 10.0 6.8 0.9
88.0 103.0 15.0 10.4 0.6
120.0 139.5 19.5 13.9 0.8
----------------------------------------------------------------------------
Heva West
----------------------------------------------------------------------------
From surface down to 200mtres : cut-off grade of 0.5 g/t over a minimum
width of 5 metres
----------------------------------------------------------------------------
Hole True
length width Grade
Hole E (m) From To (metres) (metres) (g/t Au)
----------------------------------------------------------------------------
JA-12-1042 4250 232.6 237.7 5.1 5.0 1.4
----------------------------------------------------------------------------
JA-12-1045 4447 22.5 27.8 5.3 5.0 1.5
incl. 22.5 25.7 3.2 3.0 2.1
39.0 46.5 7.5 7.1 1.5
----------------------------------------------------------------------------
Heva West
----------------------------------------------------------------------------
Under 200 metres : cut-off grade of 3 g/t over a minimum width of 3 metres
----------------------------------------------------------------------------
Hole True
length width Grade
Hole E (m) From To (metres) (metres) (g/t Au)
----------------------------------------------------------------------------
JA-12-1035 4450 NS(i)
----------------------------------------------------------------------------
JA-12-1041 4377 NS(i)
----------------------------------------------------------------------------
JA-12-1042 4250 NS(i)
----------------------------------------------------------------------------
JA-12-1044 4339 NS(i)
----------------------------------------------------------------------------
JA-12-1045 4447 288.0 291.2 3.2 3.0 12.4
incl. 289.5 290.0 0.5 0.5 77.9
----------------------------------------------------------------------------
NS(i): No significant value
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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