Attention Business/Financial Editors:
VIRGINIA GOLD MINES INC. - OPINACA PROJECT: IDENTIFICATION OF A KILOMETRIC GOLD-BEARING STRUCTURE
QUEBEC, Feb. 5 /CNW/ - Virginia Gold Mines Inc. (''Virginia'') is pleased
to publish the results of its most recent exploration work on its Opinaca
property (100% Virginia), located south of Opinaca Reservoir within the
volcanic belt of Eastmain, James Bay, Qu‚bec.
Exploration work led to the discovery of a series of significant gold
showings spread over 10 kilometres along a major regional contact between
volcanics and sediments. Among them: Renard, Contact, Chino and Chino Est
showings which are all contained in the same unit of mafic to felsic,
volcanics that lie south of the border of the sediment-volcanic regional
contact. The mineralization consists of arsenopyrite disseminations, pyrite
and chalcopyrite associated with a system of sheared and folded veinlets and
quartz veins of centimetric to metric width. The mineralization has been
laterally followed over 400 metres on the Contact showing. Sampling performed
on these four showings has returned the following results:
------------------------------------------------------------------------
SHOWING GRAB SAMPLES CHANNEL SAMPLES
(g/t Au) (g/t Au)
------------------------------------------------------------------------
Renard 3.8 (x)
------------------------------------------------------------------------
Contact 9.47 (x); 6.51; 11.38; 43.75 2.90 / 1.2 m
6.20; 4.63; 4.87; 14.59 2.13 / 4 m
9.05; 4.53; 5.62; 14.30; including: 5.25 / 1 m
6.0; 9.47 4.83 / 1 m
1.10 / 8 m
------------------------------------------------------------------------
Chino 5.07; 5.80 5.81 / 9 m
4.41 / 4 m
7.94 / 4 m
including: 24.69 / 1 m
1.80 / 2 m
------------------------------------------------------------------------
Chino Est 6.75; 5.50; 4.23 1.85 / 1 m
1.27 / 2 m
------------------------------------------------------------------------
(x) already published
Two other similar showings grading 2.96 g/t and 3.91 g/t Au have been
discovered in a second mixed volcanic belt located southeast of the Chino and
Chino Est showings. Moreover, the BB showing located 5 kilometres further
east has returned up to 5.53 g/t Au in grab samples in a sericite-pyritic
schist within the sediments. The presence of these showings confirm the
excellent potential of the property.
An important exploration campaign will be undertaken in 1998 in order to
evaluate in more details the gold potential of the property.
Virginia Gold Mines is among the most active mining exploration companies
in Qu‚bec, Canada, with more than $15 million in cash, approximately 25
million shares issued and outstanding, and is debt free. The company
concentrates its activities in the vast unexplored regions of northern Qu‚bec.
Virginia owns more than 30 properties covering 4,000 square kilometres.
Well, the last time i contact the company, was at the beginning of February and they wanted partnership agreements with others company for the development of theirs proprieties. No big news to come from the Lac St-Jean. So with time I think they will find something.
my e-mail is lucric@globetrotter.qc.ca
Luc Richard |
