/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
ROUYN-NORANDA, QC, Nov. 23 /CNW Telbec/ - Visible Gold Mines Inc. (VGD:
TSX Venture Exchange) is pleased to announce that it is launching its diamond
drill program on its Hazeur gold property. The program will consist of
10 holes for a total of 2500 metres.
The Hazeur property is located approximately 25 kilometres south-west of
the city of Chibougamau. The property is easily accessible by the
Barrette-Chapais-South road and various other logging roads which are located
in this region.
The property is comprised of 147 mineral claims, covering a surface area
of 2,382 hectares. The property was acquired from Fieldex Exploration in July
2007 and all of the claims are in full force and effect.
Ten gold showings have been identified on the property. The gold
potential of the Coapatina metavolcanic-metasedimentary segment is evident by
the presence of the Joe Mann mine, operated by Campbell Resources, the
Philibert deposit and numerous gold showings that are dispersed along the
segment. The Joe Mann mine, located approximately 15 kilometres east of the
Hazeur property, has produced more than 1,000,000 ounces of gold and
22 million pounds of Copper since the 1950s. The Philibert deposit, located
less than one kilometre to the east of the Hazeur property, contains resources
from 1.4 Mt to 5.32 g/t. Au (MB-99-33: Government of Québec database).
Ongoing compilation, geophysical interpretation combined with 2006 and
recent field work have guided the drill hole target generation. The trenching
and stripping program, focused on the gold showings area, exposed widespread
quartz veining in a shear zone. Extensive detailed channel sampling has been
completed and returned value in gold up to 9.8 g/t (see gold value map on our
website at: http://www.visiblegoldmines.com/images/property/11939419947799.pdf
To date, the exploration program has met all its objectives. Diamond
drilling will be focused on discovering new mineralization over key sections
spread across the entire property.
The Hazeur exploration program is conducted under the supervision of Mr.
Laurent Hallé, P. Geo., Qualified Person as defined by National Instrument
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 outstandings, no debt
and cash liquidity representing $0.21/share. A major portion of the 2007-2008
exploration budget will be invested on the company's tier 1 Stadacona East
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, email@example.com; Website: