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 Heva and Hosco West Extension areas, Duverny and the Kipawa Exploration Properties. Aurizon has entered into earn-in joint venture agreements on the Fayolle, Marban, Opinaca, Wildcat. 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 seventh year of commercial operations in 2013. Gold production from Aurizon's 100% owned Casa Berardi mine for the year ended December 31, 2012, totalled 136,848 ounces from the processing of 693,859 tonnes at an average grade of 6.8 grams of gold per tonne. Recoveries for the year averaged 90.6%.
Heva/Hosco West Extension - Gold - Advanced exploration, final feasibility study completed on the Hosco deposit.
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 have been completed. Based on a cut-off grade of 0.35 grams of gold per tonne and a high value capping of 25 grams of gold per tonne, the updated In-pit mineral resources are estimated at 20,700,000 tonnes at 1.58 grams of gold per tonne or 1,053,000 ounces of gold in the measured and indicated category and at 3,780,000 tonnes at 1.60 grams of gold per tonne or 194,000 ounces of gold in the inferred category. The resources, outside of the pit shell and using a cut-off grade of 2.0 grams of gold per tonne, are estimated at 980,000 tonnes at 2.82 grams of gold per tonne or 89,000 ounces of gold in the measured and indicated category plus 800,000 tonnes at 2.68 grams of gold per tonne or 69,000 ounces of gold in the inferred category.
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. The updated mineral resource estimate has been completed and is estimated at 1,814,000 tonnes at 2.7 grams of gold per tonne, or 156,000 ounces of gold at a minimum cut-off grade of 0.8 grams of gold per tonne. All of the updated mineral resources are in the indicated mineral resource category.
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.
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 km^²located 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.
Experienced management team

Aurizon's Projects - Description and History

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Casa Berardi Mine - Quebec

The Casa Berardi mine is situated 95 kilometres north of La Sarre, Quebec and straddles a 37 kilometre section of the Casa Berardi fault. Between 1988 and 1997, approximately 690,000 ounces of gold were produced from two underground mines, approximately 5 kilometres apart, in the central portion of the property. Aurizon acquired a 100% interest in the property in 1998 and conducted deep exploration drilling in the area of the West Mine, which was successful in discovering several new gold zones. Of particular importance was the discovery of Zone 113, in the West mine area, which contains high grade gold mineralization in quartz veins and forms the core of the current mining operation.

From 2004 to 2006, Aurizon developed new underground infrastructure, constructed surface facilities, and rehabilitated the milling facility and fleet of mining equipment, resulting in the commencement of production in November, 2006. Since then to December 31, 2012, Casa Berardi has produced 937,100 ounces of gold, and cumulatively has produced 1.2 million ounces of gold.

Pursuant to the terms of a joint venture option agreement with Lake Shore Gold Corp. ("Lake Shore") executed August 30, 2007, Lake Shore has earned an undivided 50% interest in certain claims surrounding the Casa Berardi Mine (the "Casa Berardi Exploration Property") by incurring exploration expenditures of $5 million. If an indicated mineral resource of at least 500,000 ounces of gold at a minimum grade of 6.0 grams of gold per tonne (or economic equivalent thereof) is established, the area containing the resource plus a one kilometre radius srrounding the outer perimeter of the resource may be transferred to a specific property joint venture, in which Aurizon and Lake Shore would each have a 50% interest. Aurizon shall then have the right to earn an additional 10% interest in the specific property joint venture, in which Aurizon and Lake Shore would each have a 50% interest. Aurizon shall then have the right to earn an additonal 10% interest in the specific property by funding the costs of a feasibility study, at which time Aurizon will become the operator. Any ore produced from the Casa Berardi Exploration Property would be processed at Aurizon's 100% owned Casa Berardi milling facility. The optioned ground covers an area of 11,594 hectares along a 30 kilometre section of the Casa Berardi fault.

Apart from the approximate two kilometre area explored by Aurizon to a depth of 1,000 metres, the large land position has not been systematically explored to depth and, accordingly, holds significant exploration potential.

Heva and Hosco West Extension Areas - Quebec

The Heva and Hosco West Extension areas are at the advanced stage of exploration and are located along the Cadillac Break, 20 km east of Rouyn-Noranda, Quebec just off Highway 117 and two kilometers north-east of the Rouyn-Noranda airport . The Rouyn-Noranda mining district is well known for its base metal deposits associated with volcanic rocks and several gold deposits in the immediate vicinity of the Cadillac Break (fault) have been defined over the years.

The property comprises 155 claims and is divided into six sectors based on different ownership agreements. There are currently two major deposits identified to date, the Hosco deposit and the Heva deposit. Both deposits are accessible via gravel roads less than one kilometre from Highway 117.

The Hosco and Heva deposits are finely disseminated sulphide deposits with minor quartz veining located within a sedimentary basin on both sides of a branch of the Larder Lake Cadillac fault. The gold is associated with sulphides, primarily arsenopyrite. The mineralized corridor extends along a 2,200 metre east-west trend and can be followed down to a depth of 400 metres.

Following the optioning of the Joanna project in 2006, Aurizon carried out surface diamond drilling which resulted in the identification of large mineralized zones. Aurizon then evaluated the potential to mine lower grade and higher tonnage material with different mining methods including by open pit. This study was followed by infill drilling with the objective of confirming the grade and continuity of the new mineral resources.

The Hosco mineralization follows multiple distinct zones dipping between 50 and 60 degrees to the north with a western plunge. Mineralization is restricted to a 100 to 190 metre wide lower grade halo of 0.5 to 2.0 grams of gold per tonne. Mineralized zones along this corridor plunge to the west, and are usually narrower and less continuous in the western block and wider and more continuous in the eastern block.

Marban Property – Quebec

The Marban Block property is located in the Malartic gold camp in the Abitibi region, Quebec. The Marban Block includes the Gold Hawk, First Canadian, Norlartic and Marban properties and consists of forty-two (42) mining claims and three (3) mining concessions covering 976 hectares in the heart of the Malartic gold mining camp, Abitibi region, Quebec.

Fayolle Property - Quebec

The Fayolle Project is located 10 kilometres north of Aurizon's Joanna Project in Quebec. The property comprises 39 mining claims 100% owned by Typhoon covering 1,373 hectares across the Porcupine-Destor Break, one of the most productive gold bearing structures of the Abitibi Belt.

Duverny Property - Quebec

The Duverny property is centered on a mafic volcanic belt associated with the Chicobi fault corridor. In the targeted sector, the indicators of gold mineralization proximity present similarities with the Timmins context, such as carbonate saturation and the presence of extensive quartz vein systems associated with folded structures.

Opinaca - Wildcat Properties - Quebec

The Opinaca and Wildcat properties 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.

Kipawa Gold Property - Quebec

The Kipawa gold project is an early stage exploration project located approximately 100 kilometres south of Rouyn-Noranda, halfway between the Elliot Lake camp and the Abitibi gold belt camp, and was initially acquired on the basis of a Government regional stream sediment survey. The project consists of three non-contiguous claim blocks totalling 1,485 claims.

Exploration programs performed in 2007 to 2009 included regional till sampling, prospecting, geophysics, soil geochemistry, and limited diamond drilling. These programs lead to the discovery of gold and rare earth elements (REE) mineralization. Mineralization occurs along the contact between a syenite intrusive and altered hosted rocks.

An initial drill program intersected a broad rare earth mineralized envelope within a minimum true thickness averaging 61 to 104 metres.

Company History

Aurizon was incorporated on April 8, 1988 as "343318 B.C. Ltd.", by filing a memorandum and articles with the Registrar of Companies under the Company Act (British Columbia). On August 10, 1988, the name of the Company was changed to "Aurizon Mines Ltd." in its English form and "Mines Aurizon Ltee." in its French form. Pursuant to a statutory plan of arrangement Aurizon acquired all of the assets and assumed all of the liabilities of two predecessor companies, D'Or Val Mines Ltd. and Perron Gold Mines Ltd., effective as at August 24, 1988.

The Company has no material subsidiaries.

Past Three Year History

During the past three years, the Company’s principal focus and its major capital and exploration spending programs have been on the Casa Berardi Gold Mine and on the Heva-Hosco (Joanna) Properties. Both of these projects are located in the Abitibi region of north-western Quebec. Over this three year period, the Company has invested $153.9 million in exploration, development and capital expenditures at the Casa Berardi Gold Mine, and $33.2 million at the Heva-Hosco (Joanna) Properties. In 2012, the Company also actively explored several of its exploration-stage Quebec mineral properties by spending $12.4 million.

Gold production from the Casa Berardi Gold Mine totaled 136,848 ounces of gold in 2012, compared to 163,845 ounces in 2011, and 141,116 ounces in 2010. It is estimated that the Casa Berardi Gold Mine will produce between 125,000-130,000 ounces of gold in 2013. The decrease in projected gold production for 2013 is attributable to the constrained operational flexibility of the mine whilst the Company installs the required infrastructure to commence mining new areas east of the production shaft, including shaft sinking and lateral development out to the 118 and 123 Zones.

In June, 2012, Aurizon received a positive feasibility study for the Hosco deposit of the Heva-Hosco (Joanna) Properties. However, in order to pursue exploration of the Heva deposit and the Hosco West Extension areas of the project, which, if successful, could lead to a staged and, perhaps, more financially beneficial development strategy, the Company decided to defer development and permitting of the Hosco deposit.

Since 2010, the Company has acquired options entitling it to earn interests in several early stage mineral exploration projects in Quebec.

The head office and registered and records office address of Aurizon
is located at Suite 1120, Cathedral Place, 925 W. Georgia Street, Vancouver,
British Columbia, V6C 3L2, Canada.

This page was last updated: April 19, 2013