Drilling of grassroots exploration targets at the Auclair property in the Eastmain greenstone belt of northern Quebec has turned up more gold for Virginia Gold Mines (VIA-M).
The new zone, on the eastern limb of a fold being explored by Virginia, is in an 80-Metre-wide layer of iron formation and grades 2.1 grams gold per ton over a 25-Metre core length. The intersection is at a vertical depth of 50 metres.
The prospect is 5 km east of another zone, which returned a number of assays exceeding 10 grams gold, and is in a stratigraphic unit similar to several of Virginia’s other showings on the property. The iron formation host rock has been traced over a total strike length of 25 km.
Virginia also announced that it has dealt to Boreal Exploration (BOR-M) an option to earn a 25% interest in the Kogaluk and Dupire properties in the Ungava region. The projects are a joint venture among Virginia, Cominco (CLT-T) and Quebec government-owned Soquem. Kogaluk is known to host four gold prospects, three of which have been drilled.
Virginia and Soquem, which jointly manage the projects, plan to carry out an additional 1,000 metres of drilling on Kogaluk and Dupire, as well as perform geophysical surveys.
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