Kennecott funds drill program by Valerie near Fish Lake

A drill program by Valerie Gold Resources (VSE) will begin shortly on the Mega-Gold property in the Taseko River region of southern British Columbia.

The property, just 1.5 miles from Taseko Mines’ Fish Lake copper-gold deposit, is considered prospective for both disseminated gold or copper-gold porphyry deposits.

The program will be managed by Valerie in consultation with Kennecott which holds an option to earn up to a 60% interest in the property. The major committed to fund a $170,000 program this year.

The main target is within an anomalous 3×2-mile area delineated by aeromagnetic surveys and consisting of three large Induced Polarization (IP) targets. The first and strongest target is in the middle of this area, and measures 4,300×3,000 ft. It is flanked by two weaker targets of similar size, one to the west and one to the southeast.

Four holes will be drilled to test the main target, and one in each of the two sub-targets. All six holes will be drilled 600-800 ft. in depth at an angle of 45 (subject to results).

Valerie recently expanded its land position in the Taseko River area by signing an option allowing it to earn a 60% interest in a property held by Sultan Minerals (VSE).

The new property, which is reported to have a number of untested gold anomalies, is at the south end of the Mega-Gold property and is not subject to the joint venture with Kennecott.