Good evening Graham,
The following press release tells you why VLG has been soft lately:
VALERIE GOLD RESOURCES LTD.
1610 - 777 Dunsmuir Street, PO Box 10435
Vancouver, BC V7Y 1K4 Canada
langmining.com
April 2, 1998 Ticker Symbol: VLG-vse
SEC 12g3-2(b) exemption 83-3339
Standard and Poors Listing
NEWS RELEASE
The diamond drilling program that commenced under TVX Gold's management in February, 1998 on Valerie Gold's Mamatla Concession has now been completed. Eleven holes were drilled for a total of 1,861 metres and the majority of the assays have been received.
In the Manto America area, five diamond drill holes (763 metres) were completed within a broad gold/silver geochemical anomaly. An additional hole was drilled at the Bridge Zone, 1.5 kilometres west of Manto America. The drill holes cut moderately to strongly silicified andesitic flows and tuffs which contained 3 to 15% fine to medium grained disseminated and fracture controlled pyrite with traces of galena and sphalerite. The drill holes returned significant widths of remarkably consistent anomalous gold and silver mineralization including:
DDH# From
metres To
metres Length
metres Au (gold)
g/t Ag (silver) g/t
MA98-01 121.0 230.0 109.0 0.09 1.23
MA98-03 0.0 138.0 138.0 0.24 2.04
MA98-04 0.6 117.0 116.4 0.15 1.37
BZ98-01 1.5 26.8 25.3 0.10 1.24
All of the holes drilled at Manto America ended in mineralization and the sheer volume of mineralization encountered in the Manto America area suggests the area was host to a major mineralizing event.
The remainder of the holes were drilled on a number of targets throughout the property. Although not all of the assays have been received for these holes, no significant mineralization was observed during the logging process.
The geochemical anomaly and mineralization drilled at Manto America is spatially confined to a 1.0 x 0.5 kilometre potassium anomaly identified during an airborne Dighem survey. Three additional distinct potassium anomalies, one being 2.0 x 1.0 kilometres in size, have been identified along strike of Manto America. These anomalies are now being investigated by geochemical sampling to determine if they contain economic concentrations of gold and silver which would warrant further drilling.
"Frank A. Lang, President"
For further information please contact
the Investor Services Department of the Lang Mining Group
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
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Frank Lang likes to keep CA$H around, just in case something does come up. With time and considering the very depressed prices of most commodities at this time, he may be right. Someone may need a lot of money to complete a project somewhere and VLG will be in a position to conduct a better bargain. In any case, that is the theory behind it.
In the meantime, all we can do is keep accumulating at this level.
Good Luck and have a very nice day.
Pierre |
