VISIBLE GOLD MINES DRILLS INTO NEW MINERALIZED GOLD VEINS NEARLY 700 METRES FROM FORMER SILIDOR GOLD MINE

News Release Highlights: 

  • 23 holes totaling 5,750 m completed to date at Silidor, drilling still in progress
  • Hole #8 intersects 2 gold veins grading >5 g/t Au
  • First hole completed near Vantex Resources' Moriss Zone Discovery

ROUYN-NORANDA, QC, April 20 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to report initial drill results from its 100%-owned Silidor Gold property, located in the Rouyn-Noranda gold camp in the Abitibi region of Quebec. The Phase 1 program at Silidor is aimed at finding and defining new structures surrounding the former Silidor Mine acquired by Visible Gold Mines from Newmont Mining and IAMGOLD Corp. (see March 8, 2010, news release for details). Results for 10 of the first 23 holes have been received with each one intersecting mineralization including the discovery of two gold veins grading better than 5 g/t Au in SI-11-08 more than 665 metres southwest of the former mine.

The possibility of a series of shoots of gold mineralization is being investigated at this early stage of exploration at Silidor with drilling proceeding in a northeasterly direction toward the former mine where production ceased in 1997.

"This is the first time this area of the property has been drilled, so we are very encouraged with these initial results and the structures we are identifiying," explained Martin Dallaire, President and CEO of Visible Gold Mines. "Our crew is gaining a better understanding of Vein "E" which was discovered through some high-grade samples collected from our field program last summer.  We are eagerly anticipating additional assay results from Silidor."

Significant assay results for SI-10-01 through SI-11-10:

Hole No From (m) To (m) width (m) Au (g/t)
SI-10-01 46.40 46.68 0.28 8.11
89.35 89.65 0.30 17.5
SI-10-02 69.59 69.89 0.30 0.65
SI-11-03 67.65 68.17 0.52 2.05
112.70 113.20 0.50 5.35
SI-11-04 203.35 203.90 0.55 2.32
SI-11-05 55.20 55.85 0.65 2.98
105.05 108.00 2.95 2.11
SI-11-06 79.55 80.25 0.70 0.84
SI-11-07 100.60 101.20 0.60 4.33
SI-11-08 70.85 72.70 1.85 2.04
94.45 96.25 1.80 3.49
111.45 114.15 2.70 5.45
129.00 130.50 1.50 5.70
SI-11-09 107.83 109.15 1.32 0.90
SI-11-10 150.82 151.32 0.5 3.33

Cadillac Break and Joutel projects update
Visible Gold Mines is also pleased to report that it has completed the first of four holes planned within approximately 800 metres of Vantex Resources' Moriss Zone discovery at its Galloway Project, 30 kilometres west of Rouyn-Noranda in Dassarat Township. This drilling is the beginning of a 9,000 metres program on Visible Gold Mines' 7,400 hectare Cadillac Break Project optioned from Cadillac Mining in December of last year.

Meanwhile, the Company continues to review historical geological information regarding the Joutel Property, a former producer recently optioned from Agnico-Eagle Mines, in preparation for a major exploration program at Joutel.

Qualify Person
This news release was written by Martin Dallaire, P.Eng. President and Chief Executive Officer of Visible Gold Mines and approved by Robert Sansfaçon, P.Geo in his capacity as a qualified person (QP) under NI 43-101.  

Quality Control
Visible Gold Mines has implemented and adheres to a strict Quality Assurance/Quality Control for the present drill programs. It includes one mineralized gold standard, one duplicate and one blank for one batch of samples. Analyses are performed by ALS Chemex, Val-d'Or, or Techni-Lab, Ste-Germaine - Boulé, accredited laboratories.

About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively searching for the next important gold deposit in northwestern Quebec, an area consistently ranked as one of the world's best jurisdictions for mining and exploration. Visible Gold Mines is in the midst of a $6.5 million, 40,000 metres drill program covering strategic areas in the Rouyn-Noranda mining region. The Company has no debt and its current cash liquidity is approximately $7.5 million.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

 

SOURCE VISIBLE GOLD MINES INC.

For further information:

Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609, Fax: 819-762-0097
E-mail: mdallaire@visiblegoldmines.com
Website: www.visiblegoldmines.com

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VISIBLE GOLD MINES INC.

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