Mr. George Paspalas of Aurizon reports
AURIZON MINES LTD.: MARBAN'S PHASE TWO DRILL PROGRAM RESULTS HIGHLIGHT WIDE MINERALIZED AND HIGH GRADE INTERVALS
Aurizon Mines Ltd. and Niogold Mining Corp. have released additional results from the phase two drill program conducted under the terms of the Aurizon Mines 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 from March 1, 2012, and April 26, 2012.
Results from 22 new drill holes and three extensions of previous holes were obtained on the Marban gold deposit and are included in this release. The drill results are shown in the associated table.
These new results highlight the presence of wide mineralized 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 infill drill holes on the Western high-grade
zone (WHGZ) returned the following results:
- 5.13 grams of gold per tonne over six 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 one 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 one 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 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 testwork, 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 downdip zone. The Eastern downdip 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-per-cent interest the Marban block property under the terms of an option and joint venture agreement dated July 5, 2010, between Niogold Mining and Aurizon. The initial 50-per-cent interest can be earned by incurring expenditures of $20-million over three years, completing an updated National Instrument 43-101-compliant mineral resource estimate, and by making a resource payment for 50 per cent 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 mineralized 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 mineralized sections were sawed in half. Sample lengths vary between 0.5 and 1.5 metres. The halved core samples were bagged, sealed and delivered to ALS Chemex in Val d'Or, Que., 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 reassaying of samples returning values above two grams of gold per tonne by the fire assay method using a gravimetric finish. As well, pulps grading above 0.5 gram 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, MSc, PGeo (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, PGeo, 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
Hole length From To Length Grade
Hole (m) (m) (m) (m) (g/t Au)
MB-12-274 480.0 57.6 67.2 9.6 0.99
211.2 211.7 0.5 11.10
285.2 290.0 4.8 4.34
422.3 424.6 2.3 4.74
MB-12-275 345.0 29.7 30.2 0.5 24.20
48.3 59.3 11.0 0.81
MB-12-278 512.0 35.1 41.5 6.4 0.87
331.1 335.6 4.5 4.34
353.0 362.4 9.4 1.50
MB-12-279 314.0 249.1 257.0 7.9 0.56
MB-12-281 461.0 376.2 380.8 4.6 3.15
MB-12-282 401.0 112.8 113.7 0.9 4.57
301.4 307.4 6.0 5.13
incl 301.4 302.5 1.1 16.35
313.2 314.4 1.2 8.55
MB-12-283 380.0 261.7 267.7 6.0 3.23
274.5 280.1 5.6 3.02
MB-12-284 332.0 148.4 149.6 1.2 5.26
185.6 198.6 13.0 4.67
MB-12-285 312.0 151.4 152.5 1.1 12.40
177.5 178.1 0.6 12.45
189.4 190.3 0.9 4.24
226.5 227.5 1.0 7.69
263.2 264.7 1.5 4.82
MB-12-287 485.0 162.2 163.4 1.2 39.10
231.4 232.5 1.1 5.58
313.9 314.8 0.9 11.55
381.0 392.0 11.0 1.75
416.1 426.3 10.2 1.79
MB-12-289 390.0 221.4 222.3 0.9 5.51
MB-12-290 332.0 163.3 164.5 1.2 14.90
168.6 170.5 1.9 8.32
MB-12-294 270.0 58.2 59.4 1.2 3.27
MB-12-297 294.0 117.0 118.2 1.2 26.10
151.6 158.8 7.2 7.28
164.0 165.0 1.0 39.50
188.8 192.4 3.6 5.20
MB-12-298 230.0 63.0 64.2 1.2 6.77
MB-12-300 284.0 34.2 35.4 1.2 24.60
MB-12-301 240.0 135.0 136.9 1.9 2.57
MB-12-302 246.0 153.2 157.5 4.3 1.19
MB-12-303 207.0 120.9 122.0 1.1 6.10
MB-12-304 201.0 53.8 65.4 11.6 1.25
MB-12-305 252.0 94.4 95.6 1.2 5.58
160.2 162.6 2.4 5.43
MB-12-306 273.0 98.7 99.7 1.0 45.80
MB-07-016e 210.0 222.0 223.2 1.2 1.90
MB-08-055e 390.0 437.2 447.9 10.7 2.04
to 571 460.0 461.2 1.2 6.34
MB-08-069e 224.0 237.3 245.4 8.1 1.66
to 371 293.6 294.2 0.6 6.14
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