(Reuters) - Canada’s Aurizon Mines ARZ.TO said it has found two new high-grade gold zones at its Marban Block property in the Abitibi region of Quebec.
“The discovery of these two new gold zones is significant as it demonstrates that there is a higher grade gold distribution around the Marban deposit,” said Martin Demers, exploration manager for Aurizon.
The gold miner, which has exploration activities at Joanna Fayolle and Marban properties, said the best results from the new high-grade western zone include 906.2 grams of gold per tonne.
The Marban Block property is a joint venture between Aurizon and NioGold Mining Corp NOX.V. Aurizon can earn up to a 65 percent interest in the property under the terms of an option.
The Marban Block, which includes the Gold Hawk and First Canadian properties, consists of 42 mining claims, according to Aurizon’s website. It covers 976 hectares in the heart of the Malartic gold mining camp in the Abitibi region.
A resource estimate will be completed on the Marban property by the year end, Aurizon said in a statement.
The results are part of a C$20 million drilling program spread over three years.
Shares of Aurizon, which competes with Alamos Gold Inc (AGI.TO) and Centerra Gold (CG.TO), closed at C$6.69 on Friday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Sayantani Ghosh)