UPDATE 4-Hecla to buy Aurizon Mines to gain access to Quebec gold mine

Mon Mar 4, 2013 5:51pm EST
 
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* Hecla says the deal will expand gold production

* Offer price of C$4.75/shr is at 9 pct premium to Aurizon's Friday closing

* Combined company expected to have market value of about $1.64 bln

* Deal likely to close in second quarter of 2013

* Alamos says will not raise offer for Aurizon Mines

* Hecla shares rise 1 pct after market; Aurizon closes up 3 pct (Adds comments from Alamos statement, updates share movement)

By Bhaswati Mukhopadhyay

March 4 (Reuters) - U.S. silver miner Hecla Mining Co agreed to buy Aurizon Mines Ltd for about C$796 million ($774 million) to ramp up its gold production, topping an unsuccessful bid by the Canadian company's largest shareholder.

The deal will give Hecla control of Aurizon's Casa Berardi mine in Quebec, expected to add 125,000-130,000 ounces of gold this year.   Continued...