Aurizon Mns Ltd buy Vassago

Aurizon Mines

Aurizon Strategy

Build an experienced team and strong foundation to become an intermediate gold producer with an attractive pipeline of exploration and development projects in mining friendly, politically stable jurisdictions.

Aurizon's Assets

In addition to Casa Berardi, Aurizon owns the Joanna Gold Project and the Kipawa Exploration Properties. Aurizon has entered into earn-in joint venture agreements on the Fayolle, Marban, Opinaca, Wildcat, and Duverny. Aurizon's combined property holdings cover in excess of 300 square miles of prospective geology in the Abitibi area of Quebec.

• Casa Berardi - Gold - Casa Berardi entered its sixth year of commercial operations in 2012.  Record gold production from Aurizon's 100% owned Casa Berardi mine for the year ended December 31, 2011, totalled 163,845 ounces from the  processing of 698,123 tonnes at an average grade of 8.0 grams of gold per tonne.  Recoveries for the year averaged 91.3%.  Actual gold production was in line with the Company's 2011 guidance of approximately 165,000 ounces and cash costs per ounce are US$537, also in line with the Company's guidance of US$535 per ounce.  Based upon first half results and a review of the mine plan for the balance of 2012, Casa Berardi production guidance for the full year has been lowered to approximately 150,000 ounces, compared to previous guidance of 155,000 - 160,000 ounces of gold.  Total cash costs for the full year of 2012 are now estimated at approximately US$645 per ounce, assuming a Canadian dollar exchange rate at parity against the US dollar for the balance of the year, compared to previous guidance of US$600 per ounce and exchange rates at parity.
• Joanna - Gold - Advanced exploration, final feasibility study completed.
• Marban Property - Gold - Joint Venture with Niogold Mining Corporation. The first phase of the Program (August 2010 to August 2011) consisted of 50,253 metres of diamond drilling (170 holes, 8 extensions) at a total cost of C$6 million. In 2012, a $4.9 million second phase program is now complete and included a total of 34,658 metres distributed in 90 holes and 9 extensions of previous holes.  The updated mineral resource estimate and basic technical studies are nearing completion and undergoing final review.
• Fayolle Property - Gold - Early stage exploration - Joint Venture with Typhoon Exploration Inc.  The 2011 drill program included a total of 42,384 metres in 120 holes at a cost totalling $5.7 million, with the drilling divided evenly between deposit expansion (21,988 metres) and property wide exploration (20,396 metres).  In 2012, a $1.2 million drill program will include 7,000 metres of drilling with the objective of testing the lateral and down-dip extensions of the mineralized system. 
• Opinaca-Wildcat Property - Early stage exploration - Aurizon signed option agreements with Azimut Exploration Inc. (“Azimut”) and Everton Resources (“Everton”) in September 2010 on the Opinaca and Wildcat properties which comprises groups of claims blocks controlled by Azimut and Everton and cover 56,791 hectares.  The property is situated in the James Bay area, 350 kilometres north of Matagami, Quebec and borders the Eleonore project owned by Goldcorp.
• Duverny - Gold Mineralization - Early stage exploration with an initial exploration program underway. Aurizon may earn a 100% interest in 44 mineral claims covering 2,100 hectares, 25 kilometres northeast of Amos, Quebec, subject to underlying royalties.  The Duverny Property covers part of a mafic volcanic belt associated with the Chicobi fault corridor.  Gold mineralization in this area is characterized by a strong carbonate alteration and the presence of an extensive veins system.
• Duvay - Agreement with Tres-Or Resources Ltd. - Early stage exploration - The Duvay property is comprised of 132 mineral claims covering 4,999 hectares and is adjacent to the Duverny project located in the Chicobi deformation system in an area characterized by a higher density of felsic intrusions.  Historical trenching and bulk sampling had identified an extensive quartz vein network presenting a potential for large targets.
• Patris - Early stage exploration - Aurizon signed an option agreement with Midland Exploration Inc. in December 2010 to increase the number of accretive opportunities near the Joanna project for a strategic regional approach. 
• Kipawa - Gold/Rare Earth - Delivering strong rare earth elements (REE) results, the Company farmed out the REE rare earth discovery to Forum Uranium Corp in July, 2011. The Kipawa gold project covers an area of 240 km² located in the Temiscamingue region, about 100 kilometres south of Rouyn-Noranda.  This project was initially identified by Aurizon for its gold potential, however delivered strong rare earth elements results, culminating with the discovery in 2010 of boulder trains which returned between 1.3 and 16.7% REE, including up to 57% of Heavy Rare Earths elements originating from the western limb of the Kipawa alkaline complex.