Aurizon Mines Ltd.: Marban's Phase Two Drill Program Results Highlight Wide Mineralized and High Grade Intervals
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/12/12 -- Aurizon Mines Ltd. (TSX: ARZ)(NYSE MKT: AZK)(NYSE Amex: AZK) is pleased to report additional results from the Phase Two drill program conducted under the terms of the Aurizon Mines Ltd. ("Aurizon") earn-in option on the Marban property, located in the Malartic gold camp, Abitibi region of Quebec. Previously released results from the Phase Two drill program were reported in Aurizon's news releases March 1 and April 26, 2012.
Results from 22 new drill holes and three (3) extensions of previous holes were obtained on the Marban gold deposit and are included in this release. The drill results are tabled on the following pages.
These new results highlight the presence of wide mineralised intervals, as well as smaller high grade intervals located mainly within the Western High Grade Zone ("WHGZ"), which is located immediately west of the former Marban Mine, from surface down to a depth of 250 metres.
Drilling highlights include:
-- The best results from the in-fill drill holes on the Western High Grade
Zone (WHGZ) returned the following results:
-- 5.13 grams of gold per tonne over 6.0 metres on section 3700 at a
vertical depth of 230 metres (MB-12-282)
-- 4.67 grams of gold per tonne over 13.0 metres on section 3675 at a
vertical depth of 140 metres (MB-12-284)
-- 7.28 grams of gold per tonne over 7.2 metres on section 3650 at a
vertical depth of 125 metres (MB-12-297)
-- 26.10 grams of gold per tonne over 1.2 metres and 39.50 grams of
gold per tonne over 1.0 metre on section 3650 at a vertical depth of
95 and 130 metres respectively (MB-12-297)
-- 24.60 grams of gold per tonne over 1.2 metres on section 3575 at a
vertical depth of 30 metres (MB-12-300)
-- 45.80 grams of gold per tonne over 1.0 metre on section 3800 at a
vertical depth of 75 metres (MB-12-306)
The 25 holes are distributed along a strike length of 950 metres with an average depth of 250 metres. Every hole returned one to four mineralized intervals with grades varying from 0.8 to 45.8 grams of gold per tonne over core length of 0.5 to 13 metres. As the core angle of mineralized structures varies slightly between 80 and 90 degrees, mineralized intervals are assumed to be true width.
The Phase Two program to date totals 90 holes and nine (9) extensions of previous holes for 34,656 metres drilled. An updated mineral resource estimate based on the Phase One drill results, as well as basic technical studies, including metallurgical test work, should be completed by the end of the second quarter, 2012.
Marban deposit drilling
The 2010-2012 drill programs have confirmed that mineralization extends between surface and an approximate depth of 250 metres, where previous mining operations took place. The programs also led to the discovery of the shallow area called the Western High Grade Zone and the identification of the Eastern Down Dip Zone. The Eastern Down Dip Zone is located below a vertical depth of 250 metres and remains open at depth and laterally.
Aurizon Option
Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010, between NioGold Mining Corporation ("NioGold") and Aurizon. The initial 50% interest can be earned by incurring expenditures of $20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold is the project operator during the initial earn-in period (see news release dated July 6, 2010).
Technical Information, Quality Control and Qualified Persons
Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled nearly perpendicular to the principal local structural orientation.
Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones, except for holes that traversed underground workings which were completed using BQ-size core. The core was sealed and delivered by the drilling contractor to NioGold's facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. The halved core samples were bagged, sealed and delivered to ALS Chemex in Val-d'Or, Quebec, an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50-gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 2 grams of gold per tonne by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 grams of gold per tonne are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
The drill program is conducted under the supervision of Yan Ducharme, M.Sc., P.Geo. (OGQ), NioGold's Vice president of Exploration and a qualified person as defined by National Instrument 43-101. This news release was prepared under the supervision of Martin Demers, P.Geo., Aurizon's General Manager, Exploration and a Qualified Person under National Instrument 43-101, based on information made available by NioGold and verified by personnel of Aurizon.
Drill results - Marban Deposit
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East- Nort- Hole Len- Grade
ing hing Length From To gth (g/t
Hole (m) (m) Azimuth Dip (m) (m) (m) (m) Au) Zones
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MB-12-274 4500 3941 N180 -59 480.0 57.6 67.2 9.6 0.99 2
degrees degrees 211.2 211.7 0.5 11.10 J
285.2 290.0 4.8 4.34 M
422.3 424.6 2.3 4.74 (i)
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MB-12-275 4350 3840 N180 -48 345.0 29.7 30.2 0.5 24.20 2
degrees degrees 48.3 59.3 11.0 0.81 E
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MB-12-278 4100 4220 N180 -56 512.0 35.1 41.5 6.4 0.87 (i)
degrees degrees 331.1 335.6 4.5 4.34 B
353.0 362.4 9.4 1.50 C2
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MB-12-279 3950 4030 N180 -45 314.0 249.1 257.0 7.9 0.56 T
degrees degrees
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MB-12-281 3725 4320 N180 -47 461.0 376.2 380.8 4.6 3.15 E
degrees degrees
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MB-12-282 3700 4230 N180 -48 401.0 112.8 113.7 0.9 4.57 (i)
degrees degrees 301.4 307.4 6.0 5.13 E
incl 301.4 302.5 1.1 16.35 E
313.2 314.4 1.2 8.55 D1
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MB-12-283 3725 4185 N180 -47 380.0 261.7 267.7 6.0 3.23 E
degrees degrees 274.5 280.1 5.6 3.02 D1
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MB-12-284 3675 4160 N180 -47 332.0 148.4 149.6 1.2 5.26 (i)
degrees degrees 185.6 198.6 13.0 4.67 2
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MB-12-285 3750 4100 N180 -46 312.0 151.4 152.5 1.1 12.40 2
degrees degrees 177.5 178.1 0.6 12.45 Z
189.4 190.3 0.9 4.24 (i)
226.5 227.5 1.0 7.69 E
263.2 264.7 1.5 4.82 A
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MB-12-287 3950 4245 N180 -45 485.0 162.2 163.4 1.2 39.10 (i)
degrees degrees 231.4 232.5 1.1 5.58 2
313.9 314.8 0.9 11.55 E
381.0 392.0 11.0 1.75 A
416.1 426.3 10.2 1.79 T
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MB-12-289 3850 4145 N180 -45 390.0 221.4 222.3 0.9 5.51 Z
degrees degrees
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MB-12-290 3850 4075 N180 -45 332.0 163.3 164.5 1.2 14.90 Z
degrees degrees 168.6 170.5 1.9 8.32 Z
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MB-12-294 3550 4135 N180 -51 270.0 58.2 59.4 1.2 3.27 (i)
degrees degrees
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MB-12-297 3650 4085 N180 -52 294.0 117.0 118.2 1.2 26.10 (i)
degrees degrees 151.6 158.8 7.2 7.28 2
164.0 165.0 1.0 39.50 Z
188.8 192.4 3.6 5.20 E
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MB-12-298 3550 4070 N180 -50 230.0 63.0 64.2 1.2 6.77 (i)
degrees degrees
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MB-12-300 3575 4000 N180 -51 284.0 34.2 35.4 1.2 24.60 2
degrees degrees
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MB-12-301 3625 4000 N180 -51 240.0 135.0 136.9 1.9 2.57 E
degrees degrees
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MB-12-302 3650 4025 N180 -51 246.0 153.2 157.5 4.3 1.19 E
degrees degrees
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MB-12-303 3650 3965 N180 -50 207.0 120.9 122.0 1.1 6.10 E
degrees degrees
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MB-12-304 3600 3895 N180 -51 201.0 53.8 65.4 11.6 1.25 E
degrees degrees
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MB-12-305 3675 4020 N180 -47 252.0 94.4 95.6 1.2 5.58 2
degrees degrees 160.2 162.6 2.4 5.43 E
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MB-12-306 3800 4035 N180 -49 273.0 98.7 99.7 1.0 45.80 (i)
degrees degrees
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MB-07-016ext 4550 3844 N180 -60 210.0 222.0 223.2 1.2 1.90 (i)
degrees degrees
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MB-08-055ext 4250 4210 N180 -63 390.0 437.2 447.9 10.7 2.04 C1
degrees degrees to 460.0 461.2 1.2 6.34 A
571.0
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MB-08-069ext 4050 4050 N180 -63 224.0 237.3 245.4 8.1 1.66 B
degrees degrees to 293.6 294.2 0.6 6.14 A
371.0
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Note: (i) The intersections which are not referenced under Zones are not
associated with any currently identified zones.
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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.
To view the image associated with this release, please visit the following link: http://media3.marketwire.com/docs/arz612i.pdf.
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 is based on information available to the Company 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 in this news release includes future exploration work, expected timing of an updated resource estimate on the Marban property, and future technical studies and test work. 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", "intents", "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.
Such forward-looking information is based on a number of assumptions, including but not limited to those set out in this news release and the Company's annual information form ("AIF") for its most recent year end filed on SEDAR. Such assumptions include those relating to US : Canadian dollar exchange rates, gold price per ounce, anticipated fuel prices, that the availability of experienced personnel and suppliers for the project, that equipment will be available when required and at estimated costs, that no unforeseen accident, fire ground instability, flooding, labour disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, that the results of exploration activities will be consistent with the Company's expectations, that the current price of and demand for gold will be sustained or will improve, that the supply of gold will remain stable, that the general business, political and economic conditions as well as those specific to the Company's operations will not change in a material adverse manner, and that financing will be available if and when needed on reasonable terms.
Forward-looking information is by nature uncertain and involves foreseeable and unforeseeable risks and other factors which may cause the actual outcomes, costs, timing and performance to be materially different from those anticipated by such information. Such risks and factors include, among others, the risk that any of the assumptions on which the forward-looking information is based prove to be incorrect or invalid, the risk of unexpected variations in grade, of failure of equipment, of accidents, labor disputes, unanticipated delays in obtaining results or governmental approvals or financing, or in the completion of exploration programs, including costs of labour, equipment and materials, of an undiscovered defect in title or other adverse claim, 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, and other risks generally associated with exploration, development and mining activities that may affect the reliability of the forward looking information herein, including those described in Aurizon's AIF and in Aurizon's Annual Report on Form 40-F ("40-F") filed with the United States Securities and Exchange Commission. The AIF and 40-F are available respectively on Sedar at www.sedar.com and on Edgar at www.sec.gov/. There may be factors in addition to those described herein or in the AIF or 40-F that cause actions, events or results not to be as anticipated, estimated or intended and 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. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.
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)
info@aurizon.com or jennifer.north@aurizon.com
www.aurizon.com