Visible Gold Mines identifies over 40 high-priority diamond drill targets along its 167 Project in the James Bay region, Québec
13 Jan, 2015, 15:16 ET
ROUYN-NORANDA, QC, Jan. 13, 2015 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce that the interpretation of the airborne survey completed in December 2014 has been successfully completed. Hundreds of discrete electromagnetic (EM) conductors have been outlined and combined to generate 41 high-priority drilling targets along the new 167 road.
The Mag/TDEM geophysical survey consisted of a data acquisition program for a total of 3,955 linear kilometres on two different survey blocks at 100-metre line spacing. The south block (km 107) and north block (km 150) represent respectively an area of 122 km2 and 245 km2.
Of the 41 targets outlined, 35 are spatially associated with strongly magnetic rocks, a setting analogous to the numerous high-grade boulders discovered during the previous exploration programs. Over 1,790 anomalous EM responses (or picks) were identified by the survey with each anomaly typically comprised of several picks. (see map on the Visible Gold Mines' website at: http://www.visiblegoldmines.com/images/property/7_NaNiskPrsopectair_Dec2014_MagTDEM.jpg and http://www.visiblegoldmines.com/images/property/7_AashukinAeroMagDec2014A0.jpg).
"Given the conductive and magnetic nature of the angular mineralized boulders found, our exploration team is very satisfied with the numerous targets generated. None of the 41 prospective areas have been historically drilled and the diamond drilling program is definitely our next step and will be initiated early next week" stated Martin Dallaire, President and Chief Executive Officer of Visible Gold Mines.
Mr. Martin Dallaire, P.Eng., President and Chief Executive Officer of Visible Gold Mines, is the qualified person on the 167 exploration project 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.
About Plan Nord 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.
Neither the 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 the release.
SOURCE Visible Gold Mines Inc.
For further information: please contact: Martin Dallaire, President and Chief Executive Officer, Telephone: 819-762-0609, Fax: 819-762-0097, E-mail: [email protected]; Website: www.visiblegoldmines.com
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