Using a cutoff of 0.35 grams per tonne, the in-pit resource shows a measured category with 8.65 million tonnes grading 1.72 g/t gold for 479,000 gold ounces, an indicated category with 12.05 million tonnes grading 1.48 g/t for 574,000 gold ounces, and an inferred category with 3.78 million tonnes grading 1.6 g/t for 194,000 gold ounces.
Using a cutoff of 2 g/t, the underground resource shows a measured category with 360,000 tonnes grading 3.03 g/t for 35,000 gold ounces, an indicated category with 620,000 tonnes grading 2.7 g/t for 53,000 gold ounces, and an inferred category with 800,000 tonnes grading 2.68 g/t for 69,000 gold ounces.
Using those cutoff grades, the combined in-pit and underground resource shows a measured and indicated total of 21.67 million tonnes grading 1.64 g/t for 1.14 million gold ounces, and an inferred total of 4.58 million tonnes grading 1.79 g/t for 263,000 gold ounces.
Aurizon President/CEO George Paspalas remarked, “This resource estimate primarily reflects Phase One drilling on the Marban Deposit and confirms Aurizon’s rationale of entering into the earn-in with Niogold on the Marban Property. The continuity of gold mineralization in the first 250 vertical metres has now been confirmed and the good metallurgy and moderate rock hardness positions the deposit well for potential development. Our next step will be to incorporate the Phase Two data into the resource model.”
Aurizon may earn up to a 65% interest in the Marban Block Property under its option and joint venture agreement with NioGold. Aurizon may earn the initial 50% by spending $20 million over three years, updating the resource estimate and paying for 50% of the total gold ounces defined by the resource estimate. NioGold acts as project operator during the initial earn-in period.
Aurizon Mines Ltd
or Martin Bergeron
VP of Operations
or Jennifer North
NioGold Mining Corp
Michael A. Iverson
or Dale Paruk
by Greg Klein