Investorideas.com newswire, commentary for mining sector

Friday, February 25, 2011

VISIBLE GOLD MINES ADDS (CDNX:VGD.V) A SECOND DRILL RIG IN NORANDA CADILLAC-LUCKY BREAK PROJECTS

ROUYN-NORANDA, QC - February 25, 2011 (Investorideas.com Mining stocks newswire) - Visible Gold Mines Inc. (CDNX:VGD.V) (Frankfurt: 3V4) is pleased to announce that it has received the drilling permits and will initiate a proposed 8,900 metres NQ-sized drilling campaign to its Cadillac-Lucky Break projects.
Martin Dallaire, President and CEO of Visible Gold Mines stated, "We are eager to initiate this drilling program and to test these highly prospective targets on the Cadillac fault."
InvestorIdeas.com Mining Newswire See map: http://www.visiblegoldmines.com/images/property/CadillacMiningLocationMap.pdf
Cadillac-Lucky Break projects
The properties comprising the Break projects were staked in 2002 by the founders of Cadillac Mining. Exploration to date has included a projectwide airborne geophysical survey, extensive lithogeochemical sampling and diamond drilling. All of the claims making up the Break projects are subject to a 1.5-per-cent net smelter return royalty on production greater than 100,000 ounces of gold, or its equivalent, in favour of the aforesaid Cadillac Mining founders and insiders. Visible Gold Mines has acquired an exclusive option to earn a 60-per-cent interest in 217 of Cadillac Mining's 228 claims in its Break projects, covering approximately 7,423 hectares, in Rouyn, Beauchastel and Dasserat townships, west of Rouyn-Noranda, Quebec.
Silidor Gold Mine project update
Ten diamond drill holes have been drilled to date on the Silidor Gold Mine project, representing an aggregate of 2,001 metres. Results from SI-10-01 to SI-11-04 will be communicated next week when the re-assayed samples results will be confirmed by the laboratory. Holes SI-11-06 to SI-11-10 are drilled and logged and the samples have been sent to the laboratory for assaying. Delays in the Silidor Gold Mine project drilling schedule have been encountered due to very cold weather during the month of January.
Qualified Person
This project is under the supervision of Robert Sansfa�on, geologist and Visible Gold Mines' vice-president exploration, a qualified person as per National Instrument 43-101.
Quality Assurance / Quality Control
Visible Gold Mines has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards, duplicata and blanks for each batch of samples. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses are performed by ALS Chemex, Val-d'Or, an accredited laboratory.
ABOUT VISIBLE GOLD MINES INC.
Visible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt in Canada. There are currently 47,451,179 common shares of Visible Gold Mines issued and outstanding. Visible Gold Mines has no debt and cash liquidity of approximately $9 million.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Post a Comment

Investorideas.com mining stocks newswire