Hello Matt:
Looks like Aurizon has more than reached the 1.0 million ounce mark according to this press release made after the market closed last night. Part of the press release is attached here but the full press release including data tables can be seen at aurizon.com.
Midas
Aurizon Mines Ltd. is pleased to announce that, following completion of a major exploration program, it has calculated gold resources at its 100% owned Casa Berardi project, in northwestern Quebec. Measured and indicated resources total 6.9 million tonnes at a grade of 7.41 grams per tonne for 1,648,000 ounces of gold. In addition, inferred resources total 2.25 million tonnes at a grade of 9.18 grams per tonne for 665,000 ounces of gold.
The undiluted resource estimate has been calculated by Aurizon technical staff and audited by Dessau-Soprin Inc. Data from over 76,000 metres of surface and underground drilling combined with existing information prior to the acquisition by Aurizon have been compiled. A cut-off grade of 3.0 grams per tonne has been applied.
The Casa Berardi project covers an area of 14,000 hectares along a 43 kilometre section of the Casa Berardi fault. The East and West Mines are approximately 5 kilometres apart in the centre part of the Casa Berardi property. Total production from the East Mine and West Mine from 1988 to 1997 was 3.75 million tonnes at an average grade of 6.7 grams per tonne, or 690,000 recovered ounces. Both mines are accessible from surface by ramp and are connected by an underground rail drift. Existing infrastructure at Casa Berardi includes a 2200 tonne per day mill (with expanding capacities to 2,800 tonnes per day), a tailings pond, and an extensive fleet of mining equipment. Aurizon holds a 100% interest in the Casa Berardi project, subject to a 2% to 4% gold indexed net smelter return royalty to a maximum of $10,000,000.
The objective of the original 50,000 metre drill program was to explore an area within a one kilometre radius of the West
mine to delineate a mineral resource of approximately one million ounces of gold.
Underground drilling tested extensions of existing mineralized zones, in particular the Lower Inter and 111 Zones. Surface drilling explored the area east and west and at depth of the existing zones. Due to the encouraging results of the newly discovered Zone 113, the program was extended to 76,582 metres.
All drill holes were surveyed. Drill cores were logged and split on site. Samples were prepared from half core then
transported to Techni-Lab at Sainte-Germaine-de-Boule for assaying by standard fire assay with atomic absorption finish. All the samples used for the resources calculation went through a checking process at ITS Bondar Clegg in Val-d?Or using standard fire assay with gravimetric finish. A quality control program using duplicates, standards and blanks has been systematically followed on a day by day basis and checked on site by Aurizon?s staff. Techni-Lab is registered to ISO Guide
25 Standard while ITS Bondar Clegg is registered to ISO 9002 Standard.
All of the encountered mineralized lenses included in the measured and indicated resources are located south of the steeply dipping Casa Berardi Break within deformed volcano-sedimentary sequences. In the 113 Zone, gold mineralization is mainly developed as quartz-carbonate veining varying in width from 4 to 20 metres (averaging 9 metres). The vein systems are hosted in gold bearing disseminated and fracture filling pyrite and arsenopyrite mineralized walls forming a corridor with a width of up to 65 metres. In the Lower Inter Zone, gold mineralization is mainly encountered in the lower part (averaging 20 metres) of a quartz-carbonate veins system varying in width from 2 to 85 metres.
For the other mineralized lenses, the gold bearing sections are usually restricted to quartz veining (111, Northwest and Inter zones) and to fracture filling pyrite and arsenopyrite (Southwest zone).
In all resource estimations, the Canadian Institute of Mining and Metallurgy Ad Hoc Committee Report on "Mineral
Resource/Reserve Classification, Sept. 1996" was closely followed. The following criteria have been used for various
categories of resources:
Measured: Measured resources are defined as mineralized zones evaluated through drifts, X-cuts, sublevels and/or raises and where the mineralized lenses have been exposed in three dimensions. It also includes zones where the drilling pattern is tight up to 25 x 25 m and the diamond drill holes show consistent grade and thickness of the zones. In such areas, an influence of 15 m vertical from a development heading on longitudinal sections or 15 m along the dip in vertical sections is given to the measured blocks.
Indicated: Where geological continuity and consistency in grade of a mineralized zone has been established by sufficient amount of diamond drill holes. An influence of up to 60 m in all directions from a positive diamond drill hole on the longitudinal section or 60 m along the dip on vertical section is assigned to the blocks in this category, if a good level of confidence exists for the continuity of the mineralized zone.
Inferred: This category includes mineralized zones where drilling information is not sufficient to justify economic
evaluation. The blocks in this category have been given a maximum influence of 60 m in all directions on the longitudinal as well as vertical sections.
The geological interpretations and correlation of lenses are done on 1:500 scale vertical sections which are at 12.5, 20 or 25 m intervals. The following methods are employed for area calculations of the ore blocks: a) vertical sections for the Zones of the West and East Mines.
b) vertical longitudinal sections for the 113 and 118 Zones.
A minimum horizontal width of 2.5 m, a half way influence between the holes, a cut-off grade of 3.0 g/t Au and a density of 2.77 t/m3 have been used as parameters for resource calculations. The maximum cutting factor of each zone is calculated separately by statistical methods and varies from 18.4 to 44.3 g/t Au. In the case of the Lower Inter and 113 zones, maximum cutting factors of 31.0 g/t Au and 44.3 g/t Au were used respectively.
In addition, detailed engineering and metallurgical studies are well advanced on the project and an internal feasibility study will possibly be completed before the end of the year.
Aurizon is a Canadian-based gold mining company with operations and exploration activities in the Abitibi region of north-western Qu‚bec, one of the world's most prolific gold and base metal regions. Aurizon operates and owns fifty percent (50%) of the Beaufor Mine and owns fifty percent (50%) of the Sleeping Giant Mine and one hundred percent (100%) of the Casa Berardi property, all of which are located in the Abitibi region. Aurizon shares trade on the Toronto and Montreal stock exchanges under the trading symbol "ARZ". |
