QUEBEC - AURIZON MINES has received a positive feasibility study from its Casa Berardi gold project. The study, prepared by MET-CHEM CANADA, covers the mineral reserves above the 700-m level in the West mine area. Assuming a gold price of US$400/oz and a dollar exchange rate of 1.25, there are 867,900 oz of gold contained in reserves. Probable mineral reserves of the West mine are estimated at 4.36 million tonnes grading 6.2 g/t Au.
The study further indicates that Aurizon must spend $82.1 million over 18 months to get the West mine reserves into production. Another $34 million of sustaining capital costs will be needed during the 5.5 years of production. Cash costs per ounce are projected to be US$233 at a production rate of 150,000 oz/year.
Aurizon has also released the following new resource figures. For Zone 113 below 700 metres: indicated resources of 838,000 tonnes at 13.68 g/t Au. For the East mine crown pillar: 593,958 tonnes grading 4.22 g/t Au.
The Casa Berardi project is located 95 km north of La Sarre, Quebec. The deposits were previous mined, and the surface and underground infrastructure (including a 2,200-tonnes/day mill) is being rehabilitated.
Details of the feasibility study and an internal scoping study are available at www.Aurizon.com. The project is 100% owned by Vancouver-based Aurizon.