Aurizon Mines Ltd. - Two new gold mineralization discoveries on the Joanna Project
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Aurizon Mines Ltd. - Two new gold mineralization discoveries on the Joanna
Project
Shares Listed: Toronto Stock Exchange - Ticker Symbol - ARZ
NYSE Amex: - Ticker Symbol - AZK
U.S. Registration: (File 001-31893)
VANCOUVER, June 1 /PRNewswire-FirstCall/ - Aurizon Mines Ltd. (TSX: ARZ; NYSE
Amex: AZK) is pleased to report the discovery of two new mineralized trends,
respectively north and south of the Heva-Hosco gold bearing trend, at its
Joanna project, located 20 kilometres east of Rouyn-Noranda, in north-western
Quebec.
Highlights include 6.8 grams of gold per tonne over 3 metres intersected
approximately 1 kilometre north of the Cadillac Fault mineralized system (the
"Joanna North"); and 3.0 grams of gold per tonne over 4.6 metres intersected
300 metres south of the Cadillac Fault, (the "Joanna South").
"The results of the recent drill program have validated our application of
geophysics and soil geochemistry in identifying targets with the discovery of
the Joanna North and South mineralized trends. These two areas were not
subject to historical drilling." said Elise Bourgault, project geologist.
"Both discoveries remain open on strike and down dip." she added.
Drilling program
----------------
Twenty-seven (27) holes totalling 9,130 metres were recently completed on
the following claim blocks, which form part of the Joanna Project:
--------------------------------------------------------
Claim Blocks Holes Metres (m)
--------------------------------------------------------
Original Joanna (Feifer option) 10 5,334
--------------------------------------------------------
Alexandria 15 3,415
--------------------------------------------------------
Original Joanna (Henriksen option) 2 381
--------------------------------------------------------
Joanna North
------------
This new mineralized trend is located 1 kilometre north of the Cadillac Fault,
on the western side of the property (see sketch attached). A mobile metal ion
(MMI) soil survey performed by Aurizon on a poorly defined magnetic contrast
lead to the identification of a 700 metre long, multi-element (arsenic, gold,
molybdenum, tungsten, antimony) anomaly.
Four (4) sections of two holes have been drilled using 200 metre spacing. The
western holes intersected a continuous 40 metre-wide fault trend associated
with sulphide halos. Gold anomalies that were encountered show a westward
progression from a few tenths of parts per billion ("ppb") to values in the
range of 0.1 to 10.0 grams of gold per tonne. The best result obtained was 6.8
grams of gold per tonne over 3 metres, including 10.0 grams of gold per tonne
over 1.5 metres, in hole JA-09-482 at the western limit of the drilling
pattern.
Mineralization is in the form of quartz veins stockwork with pyrite,
pyrrhotite, arsenopyrite and free gold associated in a biotite rich
sedimentary rock. This mineralization represents the first gold anomaly found
north of the Cadillac Fault within Aurizon's claim block and remains open to
the west.
Joanna South
------------
A new exploration target was developed on the Alexandria block, 300 metres
south of the Cadillac Fault, using induced polarization (IP) and magnetic
surveys previously performed by Alexandria Minerals.
Five (5) holes intersected 10 to 20 metres-wide gold concentrations with
values in the range of 0.1 to 0.2 grams of gold per tonne and one (1) hole
intersected higher grades with 3.0 grams of gold per tonne over 4.6 metres
including one sample at 9.0 grams of gold per tonne.
The mineralization of the higher grade intersection is composed of visible
gold inside a quartz vein with arsenopyrite, chalcopyrite and sphalerite in a
biotite sedimentary rock, locally sericitized. This mineralization is still
open to the west and east.
Heva-Hosco gold bearing trend
-----------------------------
In addition to the two new discoveries, two targets have been tested along
the Cadillac Fault. Drilling followed the down-dip extension of the Hosco
deposit and the eastern lateral extension of the trend.
Hosco dip extension
-------------------
Four (4) holes were completed to test a potential gold enrichment at depth
covering 500 metres of strike between a depth of 400 and 700 metres. Results
obtained from the down-dip program indicate continuity of the Hosco
mineralization in terms of grade and thickness. All holes returned multiple
intervals with a grade of approximately 1 gram of gold per tonne over a true
thickness varying from 10 to 50 metres. Despite a similar alteration signature
to the Hosco mineral resources, no increase in gold grades was experienced.
The best interval came from hole JA-09-467 with 2.0 grams of gold per tonne
over 14.3 metres. The highest individual assay came from hole JA-09-474 with
4.4 grams of gold per tonne over 1.4 metres.
Hosco eastern lateral extension
-------------------------------
Drilling was performed to test the eastern lateral extension between 0.5 to
2.0 kilometres from the proposed Hosco pit. Four (4) holes out of 10 have
intersected mineralization with values of between 1 and 2 grams of gold per
tonne over a true thickness of between 4 and 8 metres. The best individual
assay came from a fifth hole (JA-09-488), which returned 5.4 grams of gold per
tonne over 1.1 metres. Gold distribution, type of alteration and associated
quartz veining is different from the Hosco deposit. The grade and thickness of
the mineralization decreases to the east.
Pre-Feasibility Study
---------------------
Following completion of a major infill drill program on the Hosco deposit, an
updated mineral resource estimate as at December 31, 2008, was completed by
SGS Geostat Ltd., the results of which were announced on March 11, 2009.
Measured and indicated mineral resources on the Joanna project are currently
estimated at 33.8 million tonnes at 1.4 grams of gold per tonne for 1.53
million ounces of gold. A pre-feasibility study is currently in progress on
the Hosco block, incorporating the measured and indicated resources on the
Hosco (approximately 1.27 million ounces) together with the results of ongoing
metallurgical and geo-mechanical tests. It is anticipated that the study will
be completed by the end of the third quarter, 2009.
Outlook
During the next few months, exploration on the Joanna project will focus on
the development of a structural framework on both sides of the Cadillac Fault
to support drilling follow-up on the newly discovered trends.
Quality Control
Core assays are performed on core sawed in half, with standard fire assay
procedures and atomic absorption finition. Certified reference material,
duplicate and blanks are inserted in the sample sequence for quality control.
Assay checking on pulp and coarse reject are carried out on approximately 10%
of samples inside mineralized intervals. Additional information on Quality
Assurance and Quality control ("QA/QC"), can be found in the "Technical Report
- Resource modeling and Estimation update Joanna gold deposit" prepared by SGS
Geostat Ltd. dated April 7, 2009, which can be found under Aurizon's profile
on www.sedar.com. Exploration primary assaying was performed at ALS Chemex of
Val d'Or and check assays were carried out by Laboratoire d'Analyse
Bourlamaque of Val d'Or. ALS Chemex is a fully accredited laboratory under ISO
9001-2000 standards, and Laboratoire d'Analyse Bourlamaque is in the process
of obtaining ISO-9001-2000 certification.
Drill hole planning, implementation and the quality control program is
supervised by Martin Demers P.Geo., Exploration Manager, 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 Joanna Project area. Detailed results from
the additional holes drilled are reported in separate tables attached to this
news release. All other information previously released, together with all
technical reports on the Joanna Project are available on the Aurizon website.
Click here to view the sketch:
http://files.newswire.ca/734/SketchJoanna060109.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 http://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, timing of a pre-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", 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 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 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, grade or
recover 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 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 British Columbia corporation, the Company is subject to certain rules and
regulations issued by the British Columbia Securities Commission ("BC
Securities Commission"). The Company 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. Further, the Company describes mineral resources associated
with its properties utilizing terminology such as "indicated" or "inferred"
which terms are recognized by Canadian regulations but are not recognized by
the United States Securities and Exchange Commission ("SEC").
Cautionary Note to U.S. Investors Regarding Mineral Resources
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. The Company may use certain terms in this document, such as "mineral
resources", "indicated mineral resources" and "inferred mineral resources"
that are recognized and mandated by Canadian securities regulators but are not
recognized by the SEC.
This News Release may use the term "indicated" mineral 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 may also use the term "inferred" mineral 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. investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally mineable.
Joanna North
------------
-------------------------------------------------------------------------
Original Joanna
(Feifer option) Mineralized intersections
-------------------------------------------------------------------------
Length along
Hole E From To Gold grade the hole
(m) (m) (m) (g/t) (m)
-------------------------------------------------------------------------
JA-09-475 5405 N/S
-------------------------------------------------------------------------
JA-09-476 5141 N/S
-------------------------------------------------------------------------
JA-09-477 5172 N/S
-------------------------------------------------------------------------
JA-09-478 5435 N/S
-------------------------------------------------------------------------
JA-09-479 5869 N/S
-------------------------------------------------------------------------
JA-09-480 5857 N/S
-------------------------------------------------------------------------
Original Joanna
(Henriksen option) Mineralized intersections
-------------------------------------------------------------------------
Length along
Hole E From To Gold grade the hole
(m) (m) (m) (g/t) (m)
-------------------------------------------------------------------------
JA-09-481 4852 N/S
-------------------------------------------------------------------------
JA-09-482 4879 160.5 163.5 6.8 3.0
inc. 162.0-163.5 10.0 1.5
-------------------------------------------------------------------------
Joanna South
------------
-------------------------------------------------------------------------
Alexandria Mineralized intersections
-------------------------------------------------------------------------
Length along
Hole E From To Gold grade the hole
(m) (m) (m) (g/t) (m)
-------------------------------------------------------------------------
JA-09-485 11232 106.9 108.0 3.9 1.1
-------------------------------------------------------------------------
JA-09-490 10630 135.0 139.6 3.0 4.6
inc. 138.6-139.6 9.0 1.0
-------------------------------------------------------------------------
JA-09-491 10275 N/S
-------------------------------------------------------------------------
JA-09-492 10285 N/S
-------------------------------------------------------------------------
JA-09-493 10300 N/S
-------------------------------------------------------------------------
Note: N/S = No significant results
----------------------------------------------
Hosco Dip Extension
-------------------
-------------------------------------------------------------------------
Feifer Mineralized intersections
-------------------------------------------------------------------------
Length along True
Hole E From To Gold grade the hole width Zone
(m) (m) (m) (g/t) (m) (m)
-------------------------------------------------------------------------
JA-09-467 8402 468.0 481.5 1.1 13.5 12.9 N
481.5 496.5 2.0 15.0 14.3 N
496.5 519.0 1.0 22.5 21.5 N
589.50 593.90 1.0 4.4 4.2 S
598.50 604.50 1.3 6.0 5.8 S
619.50 623.00 1.4 3.5 3.4 S
-------------------------------------------------------------------------
JA-09-473 8100 559.5 562.5 1.3 3.0 2.4 N
574.5 594.0 1.1 19.5 16.0 N
597.3 604.5 1.7 7.2 5.9 N
612 620.8 1.0 8.8 7.3 N
667.5 670.0 1.6 2.5 2.1 S
685.5 703.5 1.2 18.0 15.0 S
718.5 735.0 1.1 16.5 13.8 S
-------------------------------------------------------------------------
JA-09-472 8000 714.7 732.4 1.0 17.7 15.7 N
831 834 1.9 3.0 2.7 S
-------------------------------------------------------------------------
JA-09-474 7868 745.5 771.8 1.0 26.3 23.1 N
780 784.25 1.4 4.3 3.8 S
1018.5 1020 4.4 1.5 1.4 S
-------------------------------------------------------------------------
Hosco East Lateral Extension
----------------------------
-------------------------------------------------------------------------
Alexandria Mineralized intersections
-------------------------------------------------------------------------
Length along True
Hole E From To Gold grade the hole width Zone
(m) (m) (m) (g/t) (m) (m)
-------------------------------------------------------------------------
JA-09-468 9800 N/S
-------------------------------------------------------------------------
JA-09-469 9900 118.5 126.0 2.1 7.5 7.3 S
inc. 5.6 1.5
205.5 207.0 4.5 1.5 1.5 S
-------------------------------------------------------------------------
JA-09-470 10100 54.0 55.5 2.7 1.5 1.5 S
102.0 109.5 1.6 7.5 7.3 S
119.0 121.0 2.4 2.0 1.9 S
-------------------------------------------------------------------------
JA-09-471 10200 108.9 117.0 1.0 8.1 7.9 S
inc. 3.8 1.5
-------------------------------------------------------------------------
JA-09-483 11448 118.5 120.0 2.2 1.5 1.4 S
126.0 129.0 1.5 3.0
155.9 157.0 2.8 1.1 1.0 S
-------------------------------------------------------------------------
JA-09-484 11213 N/S
-------------------------------------------------------------------------
JA-09-486 11030 58.5 61.5 1.5 3.0 S
92.0 95.0 1.2 3.0 2.8 S
-------------------------------------------------------------------------
JA-09-487 10400 N/S
-------------------------------------------------------------------------
JA-09-488 10830 118.3 119.3 5.4 1.1 0.9 S
-------------------------------------------------------------------------
JA-09-489 10630 105.0 108.0 1.4 3.0 S
114.0 118.5 1.5 4.5 4.2 S
131.5 133.5 1.0 2.0 1.9 S
-------------------------------------------------------------------------
SOURCE Aurizon Mines Ltd.
AURIZON MINES LTD., David Hall, President and C.E.O., Telephone: (604)
687-6600, Toll Free: 1-888-411-GOLD, Fax: (604) 687-3932; Michel Gilbert, Vice
President, Telephone: (819) 874-4511, Fax: (819) 874-3391; Web Site:
www.aurizon.com, Email: info@aurizon.com; or Renmark Financial Communications
Inc., 2080 Rene-Levesque Blvd. West, Montreal, QC, H3H 1R6, Barry Mire:
bmire@renmarkfinancial.com, Henri Perron: hperron@renmarkfinancial.com; Media:
Vanessa Napoli: vnapoli@renmarkfinancial.com, Tel: (514) 939-3989, Fax: (514)
939-3717
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