More on coulon NR, maybe this is why BWR is moving agaisnt the trend?? BWR has 50%:
Virginia Mines Inc (C-VGQ) - News Release
Virginia drills 34.01 g/t Ag over 15.95 m at Coulon
2007-06-07 09:07 ET - News Release
Shares issued 26,425,698
VGQ Close 2007-06-07 C$ 6.00
Mr. Andre Gaumond reports
VIRGINIA MINES INC.-COULON PROJECT: DRILLING CONFIRMS THE EXTENSIONS OF SEVERAL LENSES. THE MINERALIZED SYSTEM IS NOW TRACED OVER MORE THAN 14 KM ALONG STRIKE
Virginia Mines Inc. has provided the first results of its exploration program currently in progress on its Coulon property (100 per cent Virginia), located 15 kilometres north of the Fontanges Airport, Quebec Middle North. Breakwater Resources Ltd. has the option to acquire a 50-per-cent interest in the Coulon property in exchange for payments totalling $180,000 and $6.5-million in exploration work.
The Coulon project lies within a little explored Archean volcanic belt with geological characteristics typical of belts most fertile in volcanogenic massive sulphide deposits. Five polymetallic massive sulphide lenses were discovered to date, which returned values reaching up to 15.39 per cent Zn, 3.12 per cent Pb, 117 grams per tonne (g/t) Ag and 0.46 per cent Cu over 10.5 metres (lens 16-17), 8.96 per cent Zn, 1.76 per cent Cu, 50.2 g/t Ag, 0.46 per cent Pb and 0.16 g/t Au over 16.14 m (lens 9-25), 12.65 per cent Zn, 1.36 per cent Cu, 1.54 per cent Pb, 125 g/t Ag and 0.3 g/t Au over 4.70 m (lens 08), 3.05 per cent Zn, 1.54 per cent Cu, 21.55 g/t Ag, 0.21 g/t Au over 11 m (lens 44) and 4.58 per cent Zn, 1.37 per cent Pb, 57.14 g/t Ag and 0.6 per cent Cu over 3.5 m (lens 43) (see news in Stockwatch on April 29, 2004; Nov. 15, 2004; and Dec. 19, 2006).
The exploration program undertaken in the winter of 2007 consists of diamond drilling and ground (InfiniTEM) and borehole pulse-EM geophysical surveys. This work program confirmed the extension at depth of lenses 9-25 and 44 and lateral extensions of lens 43, and defined many other interesting targets on the property.
Extensions of lens 9-25
Three holes tested the lateral and depth extensions of lens 9-25. All holes intersected massive to semi-massive sulphide zones over several metres in thickness. On Section 18+25 N, hole CN-07-53B crosscut an intersection grading 1.26 per cent Cu, 0.36 per cent Zn, 16.14 g/t Ag, 0.10 g/t Au over 29.75 m, including 2.87 per cent Cu, 0.24 per cent Zn, 34.24 g/t Ag, 0.32 g/t Au over 4.75 m, to a vertical depth of 315 m. On the same section, hole CN-07-60 intercepted, to a vertical depth of 430 m (115 m under hole CN-07-53B), a mineralized zone grading 1.92 per cent Cu, 1.90 per cent Zn, 34.01 g/t Ag, 0.10 g/t Au over 15.95 m, including 3.20 per cent Cu, 0.71 per cent Zn, 58.74 g/t Ag, 0.16 g/t Au over 7.20 m and 10.18 per cent Zn, 0.99 per cent Cu, 15.7 g/t Ag over 2.3 m. On Section 19+75 N, hole CN-07-57 intercepted a massive sulphide zone that returned 1.03 per cent Cu, 8.02 per cent Zn, 34.08 g/t Ag, 0.22 g/t Au over 5.9 m, to a vertical depth of 430 m. Mineralized intervals of holes CN-07-60 and CN-07-57 represent the deepest intersections obtained to date in lens 9-25. They are located 75 m away on both sides of Section 19+00 N where hole CN-06-38 returned, in the fall of 2006, an intersection grading 8.96 per cent Zn, 1.76 per cent Cu, 50.2 g/t Ag, 0.46 per cent Pb and 0.16 g/t Au over 16.14 m to a vertical depth of 365 m. Lens 9-25 has a general north-south orientation with a steep dip (85 degrees) toward the west and is now confirmed over 200 m laterally and over nearly 300 m vertically and remains totally open at depth. Additional drilling is currently in progress on this lens.
Extensions of lens 44
Three holes tested the extensions of lens 44 vertically, under, and on both sides of hole CN-06-44, which returned, in the fall of 2006, an intersection grading 3.08 per cent Zn, 1.53 per cent Cu, 22 g/t Ag, 0.21 g/t Au over 11 m to a vertical depth of 170 m. These three new holes all have intersected massive to semi-massive sulphide zones over plurimetric thicknesses. Hole CN-07-45 intercepted 40 m under hole CN-06-44, a mineralized interval grading 1.64 per cent Cu, 2.10 per cent Zn, 21.4 g/t Ag, 0.29 g/t Au over 7.15 m.
Hole CN-07-65, located 50 m north of holes 44 and 45, also intercepted three main mineralized zones that returned the following values: 2.05 per cent Cu, 1.66 per cent Zn, 23.81 g/t Ag, 0.28 g/t Au over 3.10 m (291.0 to 294.1 m), 1.72 per cent Cu, 0.25 per cent Zn, 21.63 g/t Ag, 0,27 g/t Au over three m (323.0 to 326 m) and 0.87 per cent Cu, 0.32 per cent Zn, 12.96 g/t Ag, 0.13 g/t Au over 13.65 m (329.35 to 343 m), including 1.22 per cent Cu, 0.60 per cent Zn, 16.74 g/t Ag, 0.16 g/t Au over five m (338 to 343 m). Furthermore, a zone of disseminated sulphides within a unit of rhyolite graded 0.44 per cent Cu, 1.05 per cent Zn, 10.62 g/t Ag, 0.14 g/t Au over seven m (350 to 357 m). These mineralized intervals are located at vertical depths of 240 to 300 m under surface.
Lens 44 is oriented north-south and has a subvertical dip. It is now confirmed over a lateral distance of 130 m and to a vertical depth of over 300 m and remains totally open. It is also the object of additional drilling.
Lens 43
Four holes tested the lateral extension of lens 43 over a 100 m distance. Holes CN-07-59, 64 and 66 were drilled on a section located 50 m southwest of discovery hole CN-06-43, which returned 4.58 per cent Zn, 1.37 per cent Pb, 57.14 g/t Ag and 0.6 per cent Cu over 3.5 m in the fall of 2006. The two deepest holes on this new section confirmed the extension of lens 43. Hole CN-07-59 crosscut an intersection grading 0.58 per cent Cu, 2.8 per cent Zn, 0.21 per cent Pb and 20.02 g/t Ag over 3.70 m to a vertical depth of 130 m. Hole CN-07-66 intersected a similar sulphide zone grading 0.24 per cent Cu, 1.76 per cent Zn, 0.97 per cent Pb and 62,1 g/t Ag over a length of 0.9 m, to a vertical depth of 165 m. The shallowest hole on this section, hole CN-07-64, traversed the horizon of lens 43, to a vertical depth of 45 m but did not intersect any mineralization. On another section located 100 m southwest of hole 43, hole CN-07-62B confirmed the extension of the lens 43 mineralization with a sulphide intersection of 1.10 m grading 2.36 per cent Cu, 3.43 per cent Zn, 27 g/t Ag, 0.13 g/t Au, to a vertical depth of 160 m.
Lens 43 is northeast-southwest oriented and seems to have a variable dip toward the northwest. The mineralization is now confirmed over a lateral distance of 100 m and down to a vertical depth of 165 m. It remains open in all directions and strong InfiniTEM and borehole "off-hole" EM anomalies seem to indicate significant extension and will be soon tested.
Jessica sector
Hole CN-07-46 was testing the depth extension of Jessica surface showing (up to 1.85 per cent Zn; 0.46 per cent Cu; 42.3 g/t Ag; 0.23 g/t Au in selected samples) as well as a borehole Pulse EM off-hole anomaly. The hole crosscut, at a vertical depth of 300 m, an intense alteration zone (muscovite-phlogopite-sericite-anthophyllite) with disseminated to stringer-type to locally semi-massive sulphides within felsic volcanics.
This alteration zone returned 0.11 per cent Cu, 0.09 per cent Zn, 22.06 g/t Ag, 0.06 g/t Au over 39.4 m, including 1.40 per cent Zn and 28.40 g/t Ag over 1.20 m in its portion richer in sulphides. This alteration zone and the values obtained are very similar to the alteration zones developed immediately next to the massive sulphide lenses already known on the property. The hole will soon be the object of a Pulse-EM survey and other holes are planned to test this very promising sector, located 1.6 kilometres south of lenses 9-25 and 44.
Regional targets
About 10 holes tested diverse geophysical and geological targets on the vast Coulon property. Holes CN-07-50, 52 and 55 intercepted exhalite horizons with disseminated sulphides, which returned anomalous values in zinc, silver and lead over metric thicknesses. Hole CN-07-56 crosscut a biotite-garnet alteration zone of about 10 m thick with sulphide disseminations. Assays are pending. Hole CN-07-58 intersected a zone of disseminated chalcopyrite (1 to 3 per cent Cpy), which graded 0.64 per cent Cu, three g/t Ag over two m. These two interesting holes are located about 14 km along strike to the west of lenses 9-25 and 44, confirming again the excellent potential of the property.
Virginia is very much encouraged by these first results of the current work program. Nine of the 10 holes testing lenses 9-25, 43 and 44 have intersected semi-massive to massive sulphide mineralization. The extensions of lenses 9-25 and 44 are confirmed to vertical depths of 430 m and 300 m respectively and remain totally open at depth. Despite more modest results obtained, lens 43 was nevertheless confirmed over 100 m and to a depth of 165 m. It remains totally open and is associated with very promising geophysical anomalies. Drilling at Jessica and on regional targets has also produced encouraging results that will require follow-up work. Following these very positive results and because of the numerous untested anomalies and the extent of the mineralized system, Virginia intends to carry on with the drilling program through all the summer of 2007 and will also conduct surface geological work.
Drilling assays obtained to date are reported in the attached table and several plans, sections and photos are also available on the company's website.
Work is carried out by the personnel of Virginia Mines, under the supervision of Paul Archer, geological engineer. He is a qualified person (as defined by National Instrument 43-101) and has more than 25 years of experience in exploration.
RESULTS OF THE WINTER 2007 DRILL PROGRAM
True Cu Zn Pb Ag Au
Hole From To Length thickness % % % g/t g/t
Main grid
9-25 lens
CN-07-53B 377.75 407.50 29.75 18.00 1.26 0.36 0.01 16.14 0.10
incl. 402.75 407.50 4.75 3.00 2.87 0.24 0.02 34.24 0.32
CN-07-57 527.30 533.20 5.90 4.00 1.03 8.02 0.16 34.08 0.22
CN-07-60 539.00 554.95 15.95 12.00 1.92 1.90 0.04 34.01 0.10
incl. 539.80 547.00 7.20 5.40 3.20 0.71 0.08 58.74 0.16
and 552.70 555.00 2.30 1.80 0.99 10.18 0.01 15.70 0.04
44 lens
CN-07-45 274.65 281.80 7.15 6.20 1.64 2.10 0.03 21.40 0.29
CN-07-63 358.20 360.90 2.70 2.30 0.97 2.84 0.02 15.33 0.23
369.00 375.60 6.60 5.60 0.93 1.20 0.02 14.59 0.21
381.20 393.00 11.80 10.00 1.44 0.22 0.03 22.20 0.33
421.00 432.30 11.30 9.60 1.93 0.54 0.03 29.97 0.63
CN-07-65 291.00 294.10 3.10 2.70 2.05 1.66 0.10 23.81 0.28
323.00 326.00 3.00 2.60 1.72 0.25 0.05 21.63 0.27
329.35 343.00 13.65 11.85 0.87 0.32 0.03 12.96 0.13
incl. 338.00 343.00 5.00 4.35 1.22 0.60 0.02 16.74 0.16
350.00 357.00 7.00 6.10 0.44 1.05 0.10 10.62 0.14
CN-07-59 161.05 164.75 3.70 3.00 0.58 2.80 0.21 20.02 0.03
CN-07-61 in progress
CN-07-62B 192.00 193.10 1.10 0.90 2.36 3.43 0.13 27.00 0.13
CN-07-64 nsa
CN-07-66 204.55 205.45 0.90 0.70 0.24 1.76 0.97 62.10 0.06
Jessica area
CN-07-46 361.30 400.70 39.40 - 0.11 0.09 22.06 0.06
incl. 364.00 364.20 1.20 - 0.05 1.40 0.30 28.40 0.03
CN-07-47 nsa
CN-07-48 nsa
CN-07-49 nsa
CN-07-50 183.40 184.40 1.00 - 0.01 0.48 0.12 9.20 -
CN-07-51 nsa
CN-07-52 135.00 136.00 1.00 - 0.03 0.26 0.70 1.10 -
CN-07-54 nsa
CN-07-55 174.80 175.80 1.00 - - 0.77 - - -
177.80 178.80 1.00 - - 1.65 - 1.40 -
CN-07-56 assays pending
CN-07-58 64.00 66.00 2.00 - 0.64 0.01 - 3.00 -
We seek Safe Harbor. |
