Dec 16 2010
Aurizon (TSX:ARZ; AMEX:AZK) has announced a new series of drill results from the exploration program on the Fayolle project located 20 kilometres north-east of Rouyn-Noranda, Québec and 10 kilometres north of Aurizon's Joanna project.
The current drill program is the first phase of a work program totalling $3.5 million to be spent by Aurizon under the joint venture agreement announced on May 18, 2010 with Typhoon Exploration Inc ("Typhoon"). The Fayolle property is 100% owned by Typhoon and Aurizon can earn a 50% interest, subject to an underlying 2% net smelter royalty, by incurring expenditures of $10 million, and subscribing for $2 million in common shares of Typhoon. Aurizon can earn an additional 15% interest for a total interest of 65% by either delivering a feasibility study or spending an additional $15 million on the project.
Additional drill results and associated geological interpretations have been received for holes FA-10-12 to FA-10-21, which have been drilled in the Fayolle deposit using a 25 to 50 metre spacing to confirm the new geometrical interpretation and grade consistency. The first eleven drill holes of this 2010 campaign were reported on September 29 and November 2, 2010. Assays and/or verifications are still pending for an additional five holes (FA-10-22, FA-10-23, FAX10-01 to FAX-10-03) that have been drilled to date.
The best results received are from hole FA-10-20, which returned 5.1 grams per tonne of gold over 10.5 metres in a zone of intense brecciation with visible gold, and from hole FA-10-14, which returned 10.8 grams per tonne of gold over 4.0 metres. All of the results for holes FA-10-12 to FA-10-21 are reported. True widths are estimated to be approximately 75% of core length.
The intersection from hole FA-10-20 is located in the western end of the Fayolle deposit, approximately 30 metres west of drill hole FA-10-04, which returned 112.0 grams per tonne of gold over 6.0 metres. This new intersection appears to confirm the mineralization model, with multiple stacked sub-vertical high-grade lenses striking NNW, hosted inside an important deformation corridor trending E-W. These lenses are stacked with a general 45° east-dipping rake. The new geological model has therefore allowed prediction of new lenses west and upwards from the main Fayolle deposit.
Holes FA-10-20 and FA-10-21 both returned anomalous gold assays at greater depth than the aforementioned lenses. The anomalies may indicate the presence of mineralized lenses further west. This would also be in accordance with the new geological model.
Mineralization is hosted by strongly brecciated, altered and deformed ultramafic rocks and by dykes of varied composition, but generally intermediate and bordered by breccias as described above. The grade can generally be correlated with the intensity of brecciation and quartz-carbonate flooding. Alteration is characterized by carbonates and fuchsite in ultramafic rocks and by hematite in dykes. Gold is mostly observed as free grains up to a millimetre in size, as fracture-filling and veinlets in both host rocks.
Outlook
To date, 9,098 metres have been drilled in twenty-six holes as part of a 15,000 metre program of approximately thirty nine (39) holes aimed to test the new grade model on the Fayolle deposit and to explore the entire deformation corridor transecting the property along a strike length of more than 2.5 kilometres. The same geological model applied on the Fayolle deposit will be used to explore efficiently the rest of the property. The current exploration program includes two drill rigs operating at an estimated cost of approximately $3.0 million.
Quality Control and Qualified Person
All drill core is oriented using Fordia's "Corientr" tool to measure the geological structures of the drill core. Core assays are performed on core sawed in half, with standard fire assay procedures and atomic absorption finish. Certified reference material, duplicate and blanks are inserted in the sample sequence for quality control. Primary assaying is performed by ALS Chemex of Val d'Or. The rejects for all samples returning >10 g/t Au are totally pulverized and re-assayed
Information of a scientific or technical nature included in this release has been prepared under the supervision of Martin Demers, P. Geo., Exploration Manager of Aurizon and Qualified Person under NI 43-101.
Source: Aurizon Mines Ltd.