ROUYN-NORANDA, QC, Jan. 21, 2015 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce that its geological team and drill crews have been mobilized to Visible Gold Mines' 167 Project in the James Bay region in the Province of Québec and that the geological team has started to plan the 2015 winter diamond drill exploration program with the objective of testing certain recently identified targets. The 167 Project is wholly-owned by Visible Gold Mines.
These targets were generated by a 2014 airborne geophysical survey and Visible Gold Mines' modelling. The 2015 winter program will focus on drill testing targets that have the same or similar characteristics as the boulders found during the fall of 2014. Several targets with these characteristics are present within less than one kilometre along provincial road 167. The 2015 winter program is anticipated to continue through to the end of April 2015.
"After a successful 2014 exploration campaign we are very anxious to go back into the field and get the drill turning and I want to personally wish good luck to our hard working, dedicated team members and colleagues. The 2015 winter season will be a busy and event filled one for our crews and shareholders." said Martin Dallaire, President and Chief Executive Officer of Visible Gold Mines.
The diamond drill contract for the 2015 winter program has been awarded to Chibougamau Diamond Drilling Ltd. of Chibougamau, Québec.
A table outlining all the samples assay results from the numerous 2014 prospection program is now available on our website. See Visible Gold Mines' website at www.visiblegoldmines.com for interactive map and pictures.
Mr. Martin Dallaire, P.Eng., President and Chief Executive Officer of Visible Gold Mines, is the qualified person on the 167 Project exploration information presented in this press release under National Instrument 43-101 Standards of Disclosure for Mineral Projects, is responsible for the technical contents of this press release and has approved the disclosure of the technical information contained herein. The data verification was conducted by Jeannot Theberge, P.Geo. under the supervision of Martin Dallaire, P.Eng.
About 167 Project
In 2011, when the Québec Government launched its ambitious Plan Nord project to develop Québec's north, including the construction of a 243 kilometre-long all-season road that links Stornoway's Renard Diamond project to the provincial highway network, Visible Gold Mines' management decided to acquire the available mining rights along each side of the new road in order to have access to new outcrops and strippings generated by the road construction. Visible Gold Mines acquired claims by acquisition and staking and so the 167 Project was born. Out of the 140 kilometres of new road available for mining exploration (the first 102 kilometres are a planned provincial park), Visible Gold Mines owns more than 110 kilometres. The road has been completed since October 1, 2014 at a construction cost of approximately $350 million. The 167 Project is 100% owned by Visible Gold Mines and represents with recent acquisitions up to 61,178 hectares or 611 km2.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic corporation aggressively searching for the next important gold deposit in the province of Québec, an area consistently ranked as one of the world's best jurisdictions for mining and exploration.
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Visible Gold Mines, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of the 167 Project, or if any of them do so, what benefits Visible Gold Mines will derive. Forward-looking information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Visible Gold Mines' control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Financial Risk Management Objectives and Policies, and Financial Risks" in Visible Gold Mines' Annual Report for the fiscal year ended on July 31, 2014, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Visible Gold Mines does not intend, nor does Visible Gold Mines undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of theTSX 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: [email protected], Website: www.visiblegoldmines.com