Aurizon Mines Options Tres-Or's Advanced Duvay Gold Project, Quebec
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/27/11 -- Tres-Or Resources Ltd. ("Tres-Or") (TSX VENTURE: TRS) is pleased to announce the signing of an Option Agreement with Aurizon Mines Ltd. (TSX: ARZ)(NYSE Amex: AZK) ("Aurizon") on its advanced Duvay Gold Project, located in the Abitibi Greenstone Belt approximately 17 kilometres northeast of Amos, in Duverny township, Quebec. Aurizon can earn an initial 50% interest in the Duvay Gold Project, subject to underlying royalties, over a four year period under the following conditions:
Tres-Or will be the operator for the initial program. Upon earning a 50% interest, Aurizon will be the operator and have the option to acquire an additional 15% interest, for an aggregate of 65% interest, by delivering a pre-feasibility study on the property, or incurring additional expenditures of $13,000,000 within a three year period. Upon formation of a Joint Venture, Aurizon will make a resource payment related to Tres-Or's percentage interest in the gold contained in the Duvay property at that date, as calculated by an independent NI 43-101 compliant resource estimate as follows: $30 for each measured ounce; $25 for each indicated ounce; and $15 for each inferred ounce.
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 (). 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.
According to government reports, visible gold was discovered at Duvay in the late 1930's. Gold mineralization at Duvay 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.
Laura Lee Duffett, President and CEO of the Company, a qualified person by the standards of National Instrument 43-101, is overseeing the project and is responsible for the content in this news release.
On behalf of the Board of Directors,
Laura Lee Duffett, President and CEO
About Tres-Or Resources Ltd.:
Tres-Or Resources Ltd. (TSX VENTURE: TRS) is a Canadian resource company exploring gold and precious metals projects and diamond assets in Ontario and Quebec. The experienced team has proven success in exploration through to discovery and mine development. Additional information related to the Company is available at: .
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 news release.
Contacts:
Tres-Or Resources Ltd.
Dominic Spedaliere
Corporate Communications
604-688-8700
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Datum: 27.09.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 69954
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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