Aurizon, Ezekiel await Val d’Or drill results

The property is underlain by a western extension of the base metal horizon being explored by partners Aur Resources (TSE) and Societe Miniere Louvem (TSE) in Louvicourt Twp.

Two drills are at work on the Aurizon property as part of a $551,000 phase-one program being funded by Ezekiel Explorations (VSE). The latter company can earn a 49% interest in the project. Both juniors are members of the Vancouver-based Hughes-Lang group of companies. There are about 2.6 million shares of Ezekiel issued and outstanding.

Aurizon and Ezekiel launched their drill program at Connell Corner immediately following news of Aur’s discovery earlier this year. At present, four drills are turning on the Aur-Louvem property where a 2,000-ft deep polymetallic deposit was discovered in June, and has since been cut by more than 20 holes.

In a recent report to shareholders, Aurizon said, “Preliminary results (at Connell Corner) have been encouraging. Copper, gold, and zinc mineralization has been identified from key stratigraphic horizons.”

Encouraging results released so far include hole 89-4 which intersected 3.24% copper and minor gold over 6.4 ft. That hole was drilled about 180 ft away from 89-2 which intersected 3.31% copper over 11.8 ft. Both results came from sulphide accumulations within a chloritic stringer zone. The company considers them important because they may represent part of a “feeder system” to a larger sulphide deposit. Down-hole P.E.M. surveys indicate good off-hole conductors in the vicinity of holes 89-4 and 89-7, the company reports. Narrow zones of chalcopyrite mineralization within tuffaceous rocks were also intersected in hole 89-8.

Previous work on the 16-claim Connell Corner prospect identified two separate copper-bearing zones containing 750,000 tonnes of material grading 1.6% copper, as well as a copper-gold stringer horizon within a chloritic alteration zone. Very little of the past exploration work tested the property below depths of 400 ft. On the adjoining Aur-Louvem property, a major copper-zinc-gold deposit is being outlined at depths below 2,000 ft.

Aurizon recently reported a third- quarter loss of $4.49 million or 20 cents per share on revenue of $11.76 million. Comparative figures a year earlier are not available since 1989 is the first fiscal year of the company, as well as its first full year of mining operations.

Despite weak bullion prices and a strong Canadian dollar, Aurizon’s Sleeping Giant mine, north of Amos, Que., managed to provide cash flow of $498,045 for the 9-month period ended Sept 30. Gold production totalled 21,945 oz from tonnage of 105,041 tonnes at an average grade of 6.87 g gold (0.20 oz) per tonne. The actual gold production exceeded the budgeted amount by 3,662 oz due to better than expected ore grades and greater ore throughput.

Through a program of forward sales, the company was able to realize a gold price of $393(US) per oz.

An exploration program at Sleeping Giant, consisting of underground diamond drilling, drifting and raising from the 145-m level, has revealed several new veins west of the current mine workings. The most promising of these veins (No 20) yielded an average grade from chip samples of 8.79 g gold per tonne across 1.5 metres. The vein is reported to have a strike length of 150 metres.

In addition to the recently discovered No 20 vein, exploration drifting is also proving up additional ore on the 415-m and 355-m levels. The new ore will be included in mining reserve estimates at year-end. No direct exploration was conducted on the company’s Beaufor property during the third quarter. Undiluted geological reserves for Beaufor are estimated at 309,000 tonnes grading 8.9 g gold (0.26 oz) per tonne.

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