Aurizon Announces the Completion of the Marban Block Phase Two Drilling; New Zone Discovered Returns 19.21 Grams of Gold Per Tonne Over 5.6 Metres
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/15/12 -- Aurizon Mines Ltd. (TSX: ARZ)(NYSE MKT: AZK)(NYSE Amex: AZK) is pleased to report that the Phase Two exploration program on NioGold's Marban Block property, located in the Malartic gold camp of Quebec's Abitibi region, is now complete. The results from the final 31 drill holes conclude a successful program which identified a new high grade zone approximately 500 metres north of the Marban deposit and 350 metres south of the Norlartic deposit.
The best results from the new zone are:
-- 19.40 g/t Au over 1.2 metres on section 3600 at a vertical depth of 92
metres (MB-12-323)
-- 19.21 g/t Au over 5.6 metres on section 3600 at a vertical depth of 215
metres (MB-12-324)
This discovery occurred in the 13 exploration holes which were drilled outside the Marban deposit limits. Five (5) holes investigating the stratigraphy of the Marban deposit at depth between 400 and 800 metres, have revealed the continuity of the Marban system down to a vertical depth of 780 metres with one hole in particular, MB-12-322 (1.77 gold grams per tonne over 6.5 metres), which is approximately 450 metres from the deepest information on that section of the deposit. North of the Marban deposit, a group of five (5) holes intersected the Norlartic system, of which two (2) intersected high grade mineralization. In addition, a fence of three (3) holes was drilled between 400 and 800 metres south of the Marban deposit.
Results from a further 18 holes of the Phase Two program are distributed on a strike of 1,025 meters and include the Eastern Down Dip Zone ("EDDZ") and Western High Grade Zone ("WHGZ").
Drilling highlights include:
The best results from the EDDZ include:
-- 3.74 grams of gold per tonne over 6.4 metres on section 4700 at a
vertical depth of
245 metres (MB-12-317)
-- 4.51 grams of gold per tonne over 6.0 metres on section 4700 at a
vertical depth of
245 metres (MB-12-317)
In-fill drill holes on the WHGZ include the following highlights:
-- 19.35 grams of gold per tonne over 1.2 metres on section 3725 at a
vertical depth of 100 metres (MB-12-309)
-- 20.70 grams of gold per tonne over 0.7 metres and 14.65 grams of gold
per tonne over 1.2 metres on section 3675 at a vertical depth of 50
metres and 60 metres respectively (MB-12-312)
-- 1.31 grams of gold per tonne over 19.7 metres on section 3700 at a
vertical depth of 35 metres (MB-12-314)
-- 21.40 grams of gold per tonne over 0.9 metres on section 3850 at a
vertical depth of 30 metres
(MB-12-327)
The Phase Two program was completed on May 31, 2012, with a total of 34,658 metres distributed in 90 holes and 9 extensions of previous holes. The main target was the Marban deposit where in-fill drilling was performed mainly in the WHGZ but also along the deposit to increase the quality of the resource at shallow depth. Attempts at extending the deposit to depth and along strike were also successful as indicated by results obtained on the EDDZ. Thirteen holes were drilled of a more exploratory nature geological interpretation is in progress and will be completed shortly.
"The remaining results from the Phase Two program on the Marban Block are encouraging indicating that other structures surrounding Marban may have the potential to deliver high grade results combined with strong metal factors." said George Paspalas, Aurizon's President and CEO. "An important milestone will be achieved in the near future with the completion of a first resource estimate focusing on the Marban surface deposit."
Exploration Hole Results
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Hole
Easting Northing Length
Hole (m) (m) Azimuth Dip (m)
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Collar coordinates in the Marban grid
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MB-12-320 3600 4621 N180 -56 813.6
degrees degrees
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MB-12-321 4000 4635 N178 -62 1206.0
degrees degrees
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MB-12-322 4000 4750 N178 -67 1061.0
degrees degrees
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MB-12-323 3600 4867 N178 -54 909.0
degrees degrees
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MB-12-324 3600 4867 N178 -75 1035.0
degrees degrees
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Collar coordinates in the Norlartic grid
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MB-12-330 9+00 E 1+20 S N210 -50 254.0
degrees degrees
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MB-12-331 11+00 E 0+00 N210 -50 348.0
degrees degrees
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MB-12-332 11+00 E 1+50 S N210 -50 240.0
degrees degrees
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Grade
Hole From (m) To (m) Length (m) (g/t Au) Zones
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Collar coordinates in the Marban grid
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MB-12-320 19.3 38.6 19.3 1.03
incl 19.3 27.6 8.3 1.60
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MB-12-321 144.4 150.3 5.9 2.04
747.0 748.2 1.2 4.44
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MB-12-322 862.0 868.5 6.5 1.77
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MB-12-323 172.2 173.4 1.2 19.40 New dike
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MB-12-324 215.6 221.2 5.6 19.21 New dike
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Collar coordinates in the Norlartic grid
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MB-12-330 212.0 217.1 5.1 1.23
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MB-12-331 169.8 173.4 3.6 1.81 Norlartic
307.0 309.4 2.4 1.98
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MB-12-332 59.3 61.9 2.6 2.24 Norlartic
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Holes MB-12-333, 334, 335, 336, 337 do not contain intersections greater than or equal to 1 g/t.
Marban Deposit Results:
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Hole Hole
Easting Northing Length
(m) (m) Azimuth Dip (m)
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MB-12-307 3800 3975 N180 -47 228.0
degrees degrees
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MB-12-308 3800 3915 N180 -46 186.0
degrees degrees
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MB-12-309 3725 4050 N180 -47 281.0
degrees degrees
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MB-12-310 3750 4028 N180 -46 251.0
degrees degrees
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MB-12-311 3750 3905 N180 -46 167.0
degrees degrees
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MB-12-312 3675 3950 N180 -47 209.0
degrees degrees
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MB-12-313 3700 3925 N180 -45 182.0
degrees degrees
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MB-12-314 3700 3860 N180 -45 120.0
degrees degrees
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MB-12-315 3725 3910 N180 -47 170.0
degrees degrees
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MB-12-316 3900 3955 N180 -46 234.0
degrees degrees
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MB-12-317 4700 3983 N180 -55 522.0
degrees degrees
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MB-12-318 3850 3870 N180 -45 164.0
degrees degrees
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MB-12-319 4600 4000 N180 -57 557.0
degrees degrees
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MB-12-325 4050 3820 N180 -46 140.0
degrees degrees
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MB-12-326 4450 4127 N180 -78 693.0
degrees degrees
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MB-12-327 3850 4005 N180 -45 279.0
degrees degrees
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MB-12-328 4650 3925 N180 -55 480.0
degrees degrees
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MB-12-329 3900 4035 N180 -47 287.0
degrees degrees
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Hole From To Length Grade
(m) (m) (m) (g/t Au) Zones
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MB-12-307 143.7 146.0 2.3 3.08 D3
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MB-12-308 118.0 123.0 5.0 1.43 D3
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MB-12-309 128.8 130.0 1.2 5.89
134.2 135.4 1.2 19.35
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MB-12-310 131.4 132.6 1.2 8.06 2
190.6 193.0 2.4 4.24 D3
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MB-12-311 119.3 121.5 2.2 0.87
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MB-12-312 61.9 62.6 0.7 20.70 2
75.2 76.4 1.2 14.65
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MB-12-313 93.6 106.8 13.2 1.07 E
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MB-12-314 35.8 55.5 19.7 1.31 E
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MB-12-315 88.6 93.3 4.7 1.19 E
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MB-12-316 145.4 149.0 3.6 1.37
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MB-12-317 297.6 304.0 6.4 3.74
455.8 457.0 1.2 4.11
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MB-12-318 70.2 73.1 2.9 5.57
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MB-12-319 349.0 353.8 4.8 2.08 V
383.1 384.0 0.9 9.22 W
446.8 465.4 18.6 2.36
incl 446.8 452.8 6.0 4.51
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MB-12-325 40.2 41.4 1.2 8.32
87.4 88.2 0.8 7.32
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MB-12-326 193.5 196.3 2.8 3.47
226.6 227.2 0.6 5.52
532.7 533.8 1.1 9.77
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MB-12-327 42.7 43.6 0.9 21.40
180.5 181.3 0.8 7.75
190.3 194.6 4.3 2.13
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MB-12-328 278.0 280.1 2.1 4.07 M
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MB-12-329 58.0 59.2 1.2 12.85
96.5 97.3 0.8 10.55
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Overview of Marban property drilling
The 2010-2012 drill programs (Phase 1 and 2) totalled 84,911 metres (260 holes and 17 extensions). The Marban deposit received the bulk of the drilling with 68,861 metres (208 holes), among which 19,575 metres (74 holes) were in-filling at a 25x25 metres spacing pattern. The other holes were completing a 50x50 metres spacing pattern or making steps of 100 metres. The Norlartic deposit received 4,319 metres (21 holes) of in-fill drilling and 11,731 metres (31 holes) were drilled for exploring the Marban Block property mainly between the Norlartic and Marban deposits, as well as some other targets on the property.
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 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 remains the project operator during the initial earn-in period (see news release dated July 6, 2010).
Technical Info, QA/QC 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 near 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 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. Half 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 g/t Au by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 g/t Au are sent to Bourlamaque Assay Laboratories Ltd. in Val-d'Or for check assaying.
The drilling program is conducted under the supervision of Yan Ducharme, M.Sc., P. Geo. (OGQ), the NioGold Vice President of Exploration and a Qualified Person as defined by National Instrument 43-101. The news released 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.
Additional information
There is one sketch attached to this news release showing the Marban deposit drill hole locations and the longitudinal figures. To view the sketch, please click on the following link: http://media3.marketwire.com/docs/arz815.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.
Specifically, this news release contains forward-looking information with respect to future exploration work and the expected timing of an updated resource estimate on the Marban property. Forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, including the assumption that the current price of and demand for gold will be sustained or will improve. 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, the risk that actual results of exploration activities will be different than anticipated, 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, of accidents, labour disputes and other risks generally associated with exploration, unanticipated delays in obtaining governmental approvals or financing or in the completion of exploration 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 not to 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.
Contacts:
Aurizon Mines Ltd.
George Paspalas
President & CEO
604-687-6600 or Toll Free: 1-800-411-GOLD (4653)
Aurizon Mines Ltd.
Ian S. Walton
Executive Vice President & CFO
604-687-6600 or Toll Free: 1-800-411-GOLD (4653)
Aurizon Mines Ltd.
Investor Relations
604-687-6600 or Toll Free: 1-800-411-GOLD (4653)
jennifer.north@aurizon.com
Aurizon Mines Ltd.
604-687-6600 or Toll Free: 1-800-411-GOLD (4653)
604-687-3932
info@aurizon.com
www.aurizon.com