Aurizon recorded a non-cash charge of approximately $2.7 million in 4Q98 in respect of the La Reyna Cu-Au property situated in Mexico and since then has focused their efforts in the Abitibi greenstone region at Sleeping Giant and Casa Berardi.
La Reyna Cu-Au project, Sinaloa. Total of 75 sq km that is JVed with Cambior. Main resource area comprised of two mineralized hills Cerro Pelon and Cerro Pelon Tunnel calculated to contain 29-33 million tonnes at 0.51% Cu and 0.4 g/t Au using a 0.25% Cu cutoff. A 3,300m exploration drilling program on outlying peripheral mineralized quartz-tourmaline breccia bodies began in October, 1996. At least 2,900m were completed on these areas following up 1995 anomalies of geophysical program. Only one hole was drilled within the previous resource area and it returned 51m of 0.73% Cu and 1.41 gpt Au at shallow depths. Aurizon feels this represents a centrally located, shallow high-grade area within known resource. So far Cambior has incurred US$1,493,000 in expenses exploring La Reyna. They are presently discussing alternatives for further work. In view of continuing low metal prices, Aurizon recorded a non-cash charge of approximately $2.7 million in 4Q98 in respect of the La Reyna copper-gold property situated in Mexico.
Private placement in La Esperanza Gold Explorations.
Press Release 15Jan99
MBD March, 1997
CSW 7Feb97
GCN #23 3Feb97
WWW info 6Dec96
CSW 25Oct96
CMH 1995-1996
Annual Report 1995
NMN 05/02/94
