KIRKLAND LAKE, ON, April 26 /CNW/ - Vault Minerals Inc. (TSX-V: VMI)
("Vault" or "the Company") announces that Goldcorp Canada Ltd. intends to
proceed with a drill program on Vault's Lebel gold property, situated in the
Kirkland Lake mining camp, Ontario. The program, scheduled to commence in
May 2007, is a follow-up to a 2,786 m, regional-style drill program that was
completed in late 2006.
The 2006 drill campaign was successful in identifying multiple
fault/shear zones containing gold intercepts, alteration, mineralogy and
lithology analogous to the Kirkland Lake main deposit (24 M oz Au). Individual
systems within the 'Bidgood Fault Array' are now interpreted to extend up to
4 km in strike length across the property. Significant drill intercepts from
the program that require follow-up include: 16.3 g Au/t over 0.5 m, 6.9 g Au/t
over 1.0 m, 5.19 g Au/t over 1.0 m and 4.4 g Au/t over 2.8 m.
The scheduled 2,000 m drill program, to be managed by Vault,, is being
financed by Goldcorp Canada Ltd., a wholly-owned subsidiary of Goldcorp Inc.
(TSX:G, NYSE: GG). As previously reported, Goldcorp Canada Ltd. has an option
to earn an initial 60% interest in the Lebel gold property by spending
$2 million over a four-year period.
Percy Lake VMS Property
A HLEM ground geophysical survey was completed in March 2007 over two
separate, airborne EM targets as identified by a 1990 government airborne
survey. The ground survey successfully identified two separate conductive
zones with associated moderate to strong magnetic features. Vault intends to
conduct a geological field investigation, and possible IP survey, on the
target areas in early May 2007 prior to drilling these targets.
The technical content of this press release has been reviewed and
approved for disclosure by Daniel McCormack, P.Geo, who serves as Qualified
Person for the purposes of National Instrument 43-101 (Standards of Disclosure
for Mineral Projects).
Vault Minerals Inc. is a Canadian junior exploration company engaged in
gold and base metal exploration in Ontario. Its principal properties include
the Kirkland Lake and Lebel gold properties in Kirkland Lake and the Percy
Lake VMS base metal property north of Sault Ste. Marie. The Company's capital
consists of 28,051,093 issued and outstanding common shares which are listed
for trading on the TSX Venture Exchange under the symbol `VMI'.
On behalf of the Board of
VAULT MINERALS INC.
Joseph D. Horne
President & CEO
This Press Release may contain forward-looking statements that involve
inherent risks and uncertainties. Actual events or results could differ
materially from the Company's forward-looking statements and expectations, and
the Company disclaims any obligation to update these forward-looking
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
For further information:
For further information: please visit our website at
www.vaultminerals.com; or contact Joe Horne, President, or Dan McCormack,
P.Geo, Vice President at (705) 567 4511