Virginia Gold Mines hits significant gold at Corvet

Virginia Gold Mines (VIA-T) is on a roll. Gold grades are encouraging from its Corvet property in northern Quebec and major massive sulphides have been intersected on its Coulon property.

A drill program consisting of 21 holes (totalling 2,499 m) focused on two gold-bearing structures discovered in 2003 in the La Grande belt, located south of the LG-4 reservoir. Nine holes were drilled at the Marco zone, the best intersection being 5.12 grams gold per tonne over 13.4 metres (true width 8 metres). This intersection included a high grade 7.04 grams gold per tonne over 8 metres (true width 4.8 metres). Drilling has proved the continuity of the zone over a 200 metre lateral distance and to a depth of 130 metres. The zone consists of quartz veinlets and veins, associated alteration and up to 10% finely disseminated arsenopyrite, pyrite and pyrrhotite within a possible felsic dyke at its contact with basalt. The dip is 80-85 north. Apart from the 13.4-metre intersection, seven holes out of eight drilled intersected gold grades ranging from 1 to 10 grams per tonne over true widths of 0.6 to 17 metres.

The Marco zone is associated with a west-northwest oriented magnetic anomaly caused by disseminated and veinlet-style magnetite within a felsic rock that has intruded basalt. One hole was drilled into this anomaly 700 metres to the west of the zone; this resulted in an intersection with a high grade of 5.87 grams gold per tonne over 1.05 metres, or alternatively this intersection graded 1.32 grams gold per tonne over 7.75 metres.

Nine holes with a lateral coverage of 2.3 km tested the Contact zone. This zone is situated 2 km southwest of the Marco zone and can be traced by following a linear induced polarization anomaly.

The gold is associated with quartz feldspar porphyry dykes intersecting basalt and biotite schists. Less than 10% sulphide (disseminated arsenopyrite and pyrite) is associated with intense biotitic alteration as well as microcline and garnet. The best intersection graded 10.29 grams gold per tonne (cut) over 4.75 metres. 800 metres to the west of this a hole intersected a gold grade of 5.49 grams per tonne (cut) over 6 metres, that included 9.25 grams per tonne (cut) over 3.2 metres. Six of the remaining seven holes not mentioned above, resulted in intersections with a gold grade of 1-15 grams per tonne over 0.3-5.6 metres. Samples are being assayed at Laboratoire Expert in Rouyn-Noranda, with some re-assays at SGS Laboratory, Rouyn-Noranda. Reported values represent average grades calculated from data supplied by both labs.

In late April, Virginia Gold Mines also reported a base metal discovery in the Coulon volcanic belt. The property is 15 km north of the Trans-Taiga road and 25 km from Fontages airport. The massive-to-semi-massive sulphide is associated with a 300 metre-long electromagnetic anomaly in the upper part of an altered volcanic sequence. The Dom zone was tested with 8 holes totalling 1,058 metres. Highlighting the Dom drill results is a 19.5- metre intersection that graded 9.94% zinc, 2.12% lead, 96.38 grams silver per tonne and 0.73% copper; this included a grade of 15.39% zinc, 3.12% lead, 117.19 grams silver per tonne and 0.46% copper over 10.5 metres.