Davidson Tisdale intercepts encouraging (June 10, 2004)

Vedron Gold (VG-T) has intersected significant gold on its Davidson Tisdale property in Timmins, Ont.

The latest drill results, from a program that took place in April and May, indicate the system is not simple, but it is definitely worth pursuing.

One hole intersected 9.8 metres grading 11.46 grams gold per tonne, 25 metres from the former mine workings. Farther down-hole there was a 9.3-metre intercept grading 5.18 grams gold per tonne.

One hole extended the strike of the Main zone a further 75 metres northeast, when it intersected 8.6 metres grading 7.56 grams gold at a down-hole depth of 168 metres.

Eight holes were drilled totalling 2,542 metres. Four of the holes failed to intersect significant gold, although two of the holes did intersect some quartz veining.

The property is underlain by mafic volcanic rocks which are locally faulted and sheared. The Main zone is a steeply dipping quartz-sericite-carbonate alteration zone. Gold is associated with relatively flat-lying vein systems. In the past the Main zone was developed with a ramp to the 168-metre level.

Another drill program, carried out in November and December, resulted in bonanza grades in a couple of holes. One hole intersected 3.4 metres averaging 341.1 grams gold per tonne, including a 1.2-metre section grading 962.4 grams gold. Another hole intersected 4.6 metres grading 197.34 grams gold per tonne, and 40 metres down-hole of that, 3.4 metres grading 121.15 grams gold.

In 1985 Getty mined an underground bulk sample from between the fourth and fifth levels; 97 metres of crosscutting and 53 metres of raises were completed. During 1986 and 1987, further mining was carried out, focusing mainly on the fourth level. Total production, from minimal mining in 1918 and production by Getty in the 1980s, was 57,571 tonnes averaging 6.15 grams gold per tonne.

A resource estimate in 2003, split the resource into three zones namely the upper, lower and S. With a 4-gram-per-tonne cutoff, the total measured resource for the three zones was 338,346 tonnes grading 7.09 grams gold per tonne.

In early 2003 Vedron acquired the option to earn 50% of the 650-hectare property in Tisdale township from Northcott Gold, which has since changed its name to Laurion Gold (LAG-V). The property is about 8 km northeast of the actual developed part of Timmins. Vedron is committed to spend $5 million over five years to earn its 50%.