Vault Intersects 15.9 gAu/t over 1.0 m in First Drill Hole of Program at
Boundary Zone
KIRKLAND LAKE, ON,
"It is gratifying to see immediate progress in Vault's renewed effort to develop near-term gold resources since regaining control and direction of the property." noted
The Boundary Zone is hosted on one of nine major mineralized structures identified on Vault's 3,100-acre Lebel property situated in the prolific Kirkland Lake gold camp, where in excess of 24 million ounces of gold have been produced at a recovered grade of 16.1 gAu/t (0.47 oz/ton). The Boundary Zone consists of three, sub-parallel mineralized structures located 1,000 m east of the past-producing Bidgood Mine that historically produced 165,000 oz gold at a recovered grade of 9.2 gAu/t (0.27 oz/ton). These structures extend at least 200 m on surface along strike with minimal trenching or drilling having been carried out.
The intersection of 15.9 gAu/t over 1.0 m lies within a broader, lower grade mineralized zone that averages 2.4 gAu/t over 9.0 m or 1.7 gAu/t over 14.5 m. This first drill hole is a 30 m 'step-out' northeast of a recent trench on the Perreault Zone where chip sampling returned an average of 5.1 gAu/t across 3.0 m along an 18 m strike length, including one chipped line of 8.9 gAu/t over 3.2 m. As previously reported, individual higher grade assays within the trench include 42.5 gAu/t over 0.4 m, 41.2 gAu/t over 0.5 m and 16.9 gAu/t over 0.6 m. Strong mineralization was observed in the trench up to where it became covered by swamp.
The drill hole is the first of several proposed holes intended to define a higher grade, near-surface zone, as observed by surface trenching, and that may be included in a broad, lower grade open-pit scenario. The three zones are hosted within a porphyry unit with minor mudstone and wacke sequences. The anomalous gold zones are easily identified with up to 20% pyrite mineralization in penetrative fractures, 15 to 60% quartz-ankerite veining, and strong pervasive silica-chlorite-sericite alteration; all of which are strongly sheared.
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About Vault
Vault Minerals Inc. is a Canadian junior gold exploration company active in the world-renowned Kirkland Lake gold camp of northern Ontario. The Company's capital consists of 40,104,543 issued and outstanding common shares which are listed for trading on the TSX Venture Exchange under the symbol 'VMI'. For further information, please contact
On behalf of the Board of VAULT MINERALS INC. signed "Joseph D. Horne" --------------------------------- 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 statements.
"Neither 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 this release."
For further information: Joe Horne, President at (902) 402-8266 or visit www.vaultminerals.com
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