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Val-d'Or, Quebec--(Newsfile Corp. - August 24, 2021) - Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-d'Or Mining" or the "Company") has commissioned a 12-kilometre Surface InfiniTEM® XL (TDEM) survey over the Riviere Lois property. The 100%-owned property is located in the Abitibi Greenstone Belt and is prospective for base-metals (copper, zinc and silver) volcanogenic massive sulphide-hosted deposits.
The Company has allocated a total budget of approximately $75,000 for this program, which is scheduled to start during the coming week. The program will include the rehabilitation of the grid, the geophysical survey, and a follow-up data compilation with the preparation of a 3D geological model.
The program is intended to follow-up on anomalous copper and zinc values intersected by drilling during a previous program completed by Golden Valley Mines Ltd. The drill hole tested a 3-4 channel MEGATEM II anomaly with an offsetting moderate induced polarization (IP) anomaly.
The Company will report in more detail on the results following completion of the geophysical data processing and interpretation by the contractor, Abitibi Geophysics.
The Riviere Lois Prospect is located in northwestern Québec between the villages of Taschereau and Poularies. A number of researchers (Gibson, 1990, Lichtblau, 1989, Mortensen, 1993 & Mueller, 2001) have described the Central Noranda caldera (14.6 Moz gold, 2.2 Mt copper & 1.3 Mt zinc) to the south as being strikingly similar to the HMG complex, which formed over a 6-million-year time span (2703-2697Ma). It has a comparable stratigraphic thickness, and displays similar volcanic lithofacies and synvolcanic structures. Historically the largest concentration of base-metal mineralization discovered and exploited in the HMG complex are the Hunter Mine and Lyndhurst Mine to the west and east along strike respectively of the company's property.
The Hunter Mine reported production of 117,000 tonnes grading 0.99% Cu in 1957 and reserves of 127,000 t grading 1.06% Cu and 82,000 t of probable ore at 1.06% Cu in 1973.
The Lyndhurst Mine reported production of 156,362 t grading 1.93% Cu and 12.72 g/t Ag in 1957. Current reserves have been stated as 125,000 t at 1.75% Cu (source: SIGEOM - Metallic deposit Descriptions. Historical reserves are non-compliant with National Instrument (NI 43-101¹).
(1) Historical "resources" and/or "reserves" should not be relied upon as it is unlikely that they conform to current NI 43-101 criteria or to CIM Standards and Definitions, and they have not been verified by the Company in order to determine their relevance or reliability. They are included in this press release for illustrative purposes only and should not be disclosed or interpreted out of context.
Michael P. Rosatelli, P.Geo. (OGQ Special Authorization Permit; PGO #0855), the Vice President of Exploration of Val-d'Or Mining is the Qualified Person (as that term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) who approved the technical disclosures included in this news release.
About Val-d'Or Mining Corporation
Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in the early stages of exploration. The mineral interests are broad and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners with the technical expertise and financial capacity to conduct more advanced exploration projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
This news release contains certain statements that may be deemed "forward-looking statements." Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94227.