/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
ROUYN-NORANDA, QC, July 17 /CNW Telbec/ - Visible Gold Mines Inc.
(VGD: TSX Venture Exchange) is pleased to announce that it has commenced
diamond drilling on its Stadacona East gold property in Rouyn-Noranda,
The property is located in the centre of Rouyn Township in northwestern
Quebec. The two past producers, the "Horne Mine" (59.3 Mt at 5.88 g/t Au, 2.2%
Cu, 13 g/t Ag) and the Stadacona Gold Mine (466,282 ounces Au), are situated
approximately 1.0 km north and 400 m west, respectively, from northern and
western boundaries of the Stadacona East property.
The actual drilling program will be composed of 5 holes of approximately
1,000 metres each. The first objective is to prove the extension of the gold
mineralized zone in depth and the second objective is to get information from
this deep area, which has never been explored.
The Stadacona East property has been explored intermittently since 1920.
Exploration work was accelerated after the gold discovery at the Stadacona
Mine, located approximately 500m west of the property. The property is
underlain by mafic to felsic metavolcanic rocks of the very important Blake
River Group. Two economically significant structures host gold mineralization
on the Stadacona East property (see the 43-101 technical report on our
About Visible Gold Mines Inc.
Visible Gold Mines is a company focused on gold in the prolific Abitibi
Gold Belt in Quebec. The Company has 25,369,929 shares outstanding, no debt
and cash liquidity of $4.0 millions representing $0.16 per share.
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond the ability Visible Gold Mines to control or predict, which could cause
actual events or results to differ materially from those anticipated in such
forward-looking statements, including risks disclosed in filings with the
Canadian securities regulators made by Visible Gold Mines. Accordingly,
readers should not place undue reliance on forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Martin Dallaire, President and CEO, (819)
762-0609, Fax: (819) 762-0097, firstname.lastname@example.org;