The main mineralized zone, which occurs in an area of significant outcrop exposure, has been recognized over a strike length of 3.3 km and a width of 50 to 200 meters, and is open in all directions.
This zone, named as the Augossan Zone, was identified during an initial exploration program conducted on the property this summer.
This program was funded by Aurizon under the terms of an option agreement with Azimut Exploration announced on May 26, 2010.
Grab samples returned gold grades up to 23.3 g/t Au, silver grades up to 90.0 g/t Ag, copper grades up to 2.56% Cu and tungsten grades up to 0.93% W. Significant values in bismuth (up to 0.13% Bi), molybdenum (up to 0.11% Mo) and rubidium (up to 0.18% Rb) were also obtained.
The Augossan Zone and several other significant prospects represent porphyry-type mineralization.
The Rex South property is located approximately 45 km southeast of the Hudson Bay shoreline and the community of Puvirnituq. The property is 58 km long by 20 km wide in a NW-SE direction.
It comprises 1,822 claims covering a surface area of 794 sq km, including 143 claims for which registration is pending from the Ministry of Natural Resources and Wildlife of Quebec.
Aurizon can acquire an initial 50% interest in the project by performing $5m in exploration work over a 5-year period, and an additional 15% interest upon delivery of a bankable feasibility study.
Rex South is located in the Archean Minto Subprovince. The mineralized areas on the property – the Augossan Zone, the Fluo Zone, and the Le Breuil-N, Larissa and Kumo prospects – are considered porphyry-type targets associated with granitic intrusions, dykes and their surrounding host rocks.
