Aurizon Mines Ltd. is an emerging gold producer, exploration, and development company. Trading on the American Stock Exchange (AMEX) and the Toronto Stock Exchange (TSX) with a market capitalization of $235.29 million, Aurizon is focusing on becoming an intermediate gold producer. The Company is working to achieve this end by exploring and developing large land positions in favorable geological trends that are close to infrastructure. They also look for land positions, which are in politically stable pro-mining regions.
Headquartered in Vancouver, British Columbia, Aurizon owns the Casa Berardi Mine Project as well as their Joanna Gold Project and their Kipawa Exploration Property. The Company’s combined property holdings cover over 300 square miles in the Abitibi area in the Canadian province of Quebec.
The Casa Berardi mine is their 100 percent owned gold mine project. Gold production at this site began in 2007. The company expects this site to produce approximately 160,000 to 165,000 ounces of gold on an annual basis. The Casa Berardi mine is a vein type deposit that extends for a five-kilometer strike length along the Casa Berardi Fault system in Quebec. This mine produced 159,500 recovered ounces of gold in 2007.
For 2008, Aurizon is investing $10.2 million in exploration related activities at Casa Berardi. This includes $6.1 million on underground development and infrastructure. It also includes $4.1 million on approximately 45,000 meters of surface and underground drilling.
The Company’s Joanna Gold Project in Quebec received a preliminary assessment report in the second quarter of 2008. Prepared by BBA Inc., the report concluded that the project is potentially feasible as a stand-alone open-pit mine operation. It also reported that additional work should proceed to advance the project to the pre-feasibility stage.
Aurizon’s Kipawa Gold-Uranium Property in Quebec is an early stage exploration project. It’s located roughly 100 kilometers south of Rouyn-Noranda, halfway between the Elliot Lake uranium camp and the Abitibi gold belt camp. For this year, exploration activities include drilling to follow up on the discoveries of gold, uranium, and rare earth elements made in 2007. With many gold targets defined from their 2007 exploration activity, Aurizon will perform drilling and trenching of more advanced targets when they receive the appropriate permits and approvals this year. Their gold exploration budget for this year is $500,000 at Kipawa.
Aurizon Mines Ltd. continues to see gold below the horizon. Their strategy is to develop their existing projects in Quebec to further Company profits. They also continue to work to increase their asset base through acquisitions to provide their shareholders quality return on investment.
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