Quebec - Duverny
In March 2010, the Company signed a letter of intent whereby Aurizon agreed to purchase 44 mineral claims in the Duverny Township in the Abitibi region of north-western Quebec. Aurizon may acquire 100% ownership in the 44 mineral claims, subject to underlying royalties, by making cash payments totalling $100,000 by the second anniversary of the agreement. As at December 31, 2011, Aurizon has made total cash payments of $70,000 in respect of the 44 mineral claims, and has also acquired mineral claims adjacent to the property by staking at a cost of $25,000. Including the mineral claims acquirement by staking, the Duverny property consists of a total of 144 mineral claims covering 6,200 hectares, 25 kilometres northeast of Amos, Quebec ( the “Duverny Property”). The Duverny Property covers part of a mafic volcanic belt associated with the Chicobi fault corridor. Gold mineralization indicators in this area have similarities to the Timmins context, such as carbonate saturation and the presence of extensive quartz vein systems associated with folded structures.
The Duverny property is located approximately 100 kilometres north of Val d’Or and is 100% owned by Aurizon comprising 44 claims, and representing an area of 6,202 hectares. Of the total claims, 16 claims have been purchased from a prospector and are subject to a 1.5% NSR.
A first phase of exploration activity during the third quarter, 2011, focused on drill target generation with the collection of 1,300 soil samples on a 200 metre-wide line spacing. The Duverny property has had very little exploration activity other than limited prospecting and drilling. A land package extending for 10 kilometres has been staked in the extension of a main showing area where historical drilling has confirmed grade and structural continuity. Work planned for the fourth quarter, 2011 included ground geophysical work on anomalies identified, followed by drill testing, representing expenditures of approximately $0.5 million.
Year End 2012 Update
During 2012, exploration expenditures totalling $1.1 million were incurred on the Duverny property.
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This page was last updated: April 19, 2013