Davidson Tisdale intercepts encouraging (June 21, 2004)

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

The latest drill results, from a program in April and May, indicate the system is not simple but 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, a 9.3-metre intercept graded 5.18 grams gold.

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 totalling 2,542 metres were drilled. Half of these failed to return significant gold, though two intersected 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, 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 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, mostly 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. At a cutoff of 4 grams per tonne, the total measured resource for the three zones was estimated to be 338,346 tonnes grading 7.09 grams gold per tonne.

In early 2003, Vedron acquired an option to acquire half of the 650-hectare property from Northcott Gold, which has since changed its name to Laurion Gold (LAG-V). To do so, Vedron must spend $5 million on the project over five years.