OCT 2011 NEWSLETTER
TRES-OR HIGHLIGHT OF THE WEEK:
AURIZON MINES LTD & TRES-OR RESOURCES LTD MEET ON SITE AT THE ADVANCED DUVAY GOLD PROJECT TO PLAN EXPLORATION WORK PROGRAMS WITH EST. BUDGET OF $2,500,000 (Phase 1) � Tres-Or is the Project Operator.
See up to date footage of exploration and field work taking place on Duvay gold project now: http://www.youtube.com/watch?v=2o5sI-5Fe6s (CLICK LINK)
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COMPANY GOAL: To discover multi-million ounce gold deposits in Quebec
Why the Duvay Gold Project?
Tres-Or has consolidated a strategic land position covering 132 claims (approximately 5,000 hectares) surrounding its advanced Duvay gold property in a promising part of the Abitibi belt (see Tres-Or Duvay Gold Project Map). Tres-Or has an agreement to earn a 100% interest in the Duvay gold property, and holds a 100% interest in the Duvay Nord, East Mac and East Mac Sud properties, subject to underlying royalties, collectively the Duvay Gold Project.
The project is in an under-explored area of the Abitibi Greenstone Belt with multiple gold occurrences on the properties. Visible gold was discovered at Duvay in the late 1930�s. Gold mineralization is associated with a northwest trending shear zone and intersecting northeast faults. The property hosts large zones of intense carbonate alteration with quartz stockworks. Native gold occurs on the property as well as disseminated pyrite, chalcopyrite, sphalerite and minor galena.
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QUICK FACTS ABOUT THE DUVAY GOLD PROJECT
- Advanced gold project, staged exploration underway for establishment of NI 43-101 compliant gold resource estimate.
- Tres-Or Resources Ltd. has signed an option agreement with Aurizon Mines Ltd. for the development of its Duvay Gold project. Pursuant to the agreement, Aurizon has the option to acquire up to 65% interest in the Duvay project (see Sept 26, 2011 news release).
- Tres-Or has a strategic land package in a promising part of the Abitibi belt including a 100% option on the Duvay property and 100% interest in over 4,900 hectares of claims
- Visible gold showings & historic drill samples of up to 402 g/t Au.
- Detailed structural mapping, sampling & high resolution ground magnetic survey confirms gold mineralization occurs over an 800 m in strike length at the Duvay main shear zone
- Completed 13 holes (1233 metres) of drilling targeting major shear zones and fault structures identified by Tres-Or�s recent mapping and sampling programs
- Bulk testing program to account for coarse gold is underway. Fifteen (15) bulk test pits are permitted and designed to yield at least 10 tonnes of finely broken rock to process on site for coarse gold and a sulphide concentrate for assay.
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Auizon Mines Ltd. options Tres-Or Resources Ltd. Advanced Duvay Gold Project
(Left to right Jason Sutherland Aurizon legal, Julie Kemp Aurizon Corporate Secretary, David Hall Aurizon Chairman, Laura Lee Duffett President & Director Tres-Or and David Cowan Director & Corporate Secretary Tres-Or) Sept 26, 2011.
Terms of Sept 26, 2011 transaction with Aurizon
- Cash payments totaling $1,500,000;
- Incurring exploration expenditures totaling $6,500,000, of which $2,500,000 incurred within 18 months is a firm commitment.
- Tres-Or will be the operator. Upon Aurizon earning 50% Aurizon will be the operator and have the option to acquire an additional 15% interest for a total of 65% interest by producing a pre-feasibilty study on the property, or incurring additional expenditures of $13,000,000 over three years
- On formation of a JV, Aurizon will make a resource payment related to Tres-Or�s percentage interest in the gold contained at Duvay as calculated by a 43-101 compliant resource estimate as follows: $30 for each measured ounce; $25 for each indicated ounce; and $15 for each inferred ounce.
Who is Aurizon Mines Ltd.?
Aurizon is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most favorable mining jurisdictions and prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the NYSE Amex under the symbol "AZK". Current share price is $5.70 per share, with approximately 1 billion market capitalization. Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this newsletter.