Visible Gold Mines (VGD-V) is drilling at its newly popular 167 Extension property in Quebec. 167 sits alongside a road that Stornoway Diamond (SWY-T) is building to connect its Renard diamond project to the rest of the highway. Road construction last year unearthed several strange-looking boulders, which sent Visible on a sampling spree. It found high-grade nuggets of up to 139 grams per tonne gold, and Mr. Dallaire's promotion of these samples has helped the stock up from 1.5 cents. He also managed to attract Rob McEwen and Ned Goodman as investors last fall. They are likely quite pleased, considering the $1.52-million private placement they subscribed to is now worth $8.18-million on paper. Mr. Dallaire owns 2.4 million shares, now worth $624,000, up from $36,000 in late 2013. To keep this up, however, Visible will need to drill some pleasing gold intersections. It should have its first assays within the next few weeks.
Mr. Dallaire has had exciting preassay results in the past. In September, 2012, he managed to double Visible's stock to 43 cents as the company "eagerly anticipated" the first assays from its Break gold property in Quebec. Mr. Dallaire was so sure of success that he even renamed the property, "Lucky Break." Days later, Break was not so lucky; all assays returned uneconomic.
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