Shares in Virginia Gold Mines (VIA-T) jumped more than 10% in early trading in Toronto on Nov. 8, after the company reported the best ever intersection from the Roberto zone on its lonore gold project in Quebec.
Hole 151 B on the Roberto zone yielded 22.6 grams gold per tonne over a true thickness of 12 metres, beginning at a depth of 802.4 metres. The hole also contained a 26-metre interval from the Mid-Roberto zone (from 687.2 metres) running 4.3 grams gold and a 3.5-metre section (from 668.3 metres) of the Roberto Est zone averaging 2.1 grams.
The hole is among the latest batch of 11 that tested the Roberto mineralized system. Six other nearby holes generally returned 1.4-14.5 grams gold over intervals between 0.75 and 40 metres.
Meanwhile, drilling on the northern extension of the system (comprising the Roberto Est and Zone Biotite) was highlighted by a 1-metre segment (from 529.7 metres) of the Roberto-Est zone averaging 49.8 grams gold. The remaining results generally run around 1.6-3.6 grams over intervals of 3-8 metres.
At the southeast end of the system, hole 150 returned the best result from the Roberto Est zone, with a 8.7-metre interval (from 303 metres) grading 11.2 grams gold. The hole also contained 1.85 metres (from 328.5 m) of Mid-Roberto mineralization averaging 14.5 grams gold.
Virginia says the Roberto Est and Mid-Roberto zones exhibits good continuity in the southeast, with both open laterally and at depth.
In all, the company says that the latest round of drilling has traced the Roberto system over 1.9 km to a vertical depth of 900 metres (up from the previous 720 metres). It remains open in all directions.
Shares in Virginia were 54 higher at $7.10 in late afternoon trading in Toronto following the news on Nov. 8.
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