AZK, ORFG, - DrStockPick.com Stock Report! - Aurizon Mines, Orofino Gold

Written By: admin on July 6, 2010

azk AZK, Aurizon Mines Ltd.

AZK is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world’s most favourable mining jurisdictions and prolific gold and base metal regions, and by increasing its asset base through accretive transactions.

** AZK reported the signing of an option and joint venture agreement with Niogold Mining Corporation (”Niogold”) on the Marban Block property, located in the Malartic gold camp in the Abitibi region, Quebec, pursuant to which:

AZK can earn a 50% interest in the Marban Block, subject to underlying royalties, by:

- incurring expenditures of C$20 million over three years, of which C$5.0 million is a firm commitment to be spent in the first year;

- completing an updated NI 43-101 compliant mineral resource estimate;

- making a resource payment equal to the sum of C$30 (or C$40 if the price of gold is then above US$1,560) multiplied by 50% of the number of total gold ounces in the Measured and Indicated resource categories plus C$20 (or C$30 if the price of gold is then above US $1,560) multiplied by 50% of the number of total gold ounces in the Inferred resource category, based on the updated resource estimate.

AZK can earn an additional 10% interest, for an aggregate of 60% interest, by delivering a feasibility study;

AZK can earn an additional 5%, for an aggregate 65% interest, by arranging project financing for capital expenditures estimated by the feasibility study to place the project into commercial production;

NioGold will be operator during the initial earn-in period and AZK will provide input on exploration programs and will become operator after the initial 50% interest has been earned.

The Marban Block includes the Gold Hawk, First Canadian, Norlartic and Marban properties and consists of forty-two (42) mining claims and three (3) mining concessions covering 976 hectares in the heart of the Malartic gold mining camp, Abitibi region, Quebec.

More about AZK at www.aurizon.com

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orfg ORFG, Orofino Gold Corp., ORFG.PK

Colombia is Latin America’s fifth largest producer of gold.

ORFG has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.

At the ORFG’s Senderos de Oro project, government recorded Gold production from the area has been significant with production records between 1987 to present of over 1,300,000 ounces. All production has been Artisanal (small miners) in nature and production continues to this day.

With the frequent occurrence of the very high grade gold vein systems in the central area of ORFG’s Senderos de Oro project and with several small scale grinding and amalgamation mills in-place ORFG is planning to design a central processing and recovery facility that is modular in design (each additional module added creates 10,000 ounces of annual production) and will be capable of processing enough high grade material to produce up to 120,000 ounces of gold annually while ORFG continues to explore further the Primary Porphyry Target which is the bulk minable gold/copper porphyry systems.

ORFG has reviewed several engineering and design firms with gold production facilities design and operational experience and is currently creating a short list prior to engaging the design team.

ORFG intends to continue the relationships currently enjoyed with all government agencies, the local communities, as well as current production teams and will involve these groups in all major processing and production planning decisions.

More about ORFG at www.orofinogold.com

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Tags: AMEX: AZK, Aurizon, Aurizon Mines, AZK, orfg, orfg.pk, Orofino Gold, OTC: ORFG, PINKSHEETS: ORFG