An exploration program is under way at the wholly owned Permit 936 property of Virginia Gold Mines (ME) in the Labrador Trough area of northern Quebec.
The company’s newest property acquisition is adjacent to the company’s Sagar III and Romanet properties which host a number of showings. Permit 936 is 50 sq. km in size and covers more than 10 km of a fault hosting gold, uranium, copper and zinc mineralization.
President Andre Gaumond says that Permit 936 hosts the highest geochemical gold (120 ppb) anomalies encountered in the Labrador Trough, and that the anomalies appear to be associated with the fault.
The work program is aimed at finding the source of the high gold anomalies. Gaumond says the Mistamisk boulder field, hosting gold and uranium credits, is about 2 km from Permit 936.
Meanwhile, Gaumond says Virginia Gold has negotiated an agreement with a partner concerning the Sagar III and Romanet properties and that his company will shortly be announcing development plans for the two projects.
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