Quebec City-based Virginia Gold Mines (VIA-M) has discovered a new zone of gold mineralization at its Auclair property, in the James Bay area of northern Quebec.
The zone is hosted in iron formation and is similar to mineralization at the Musselwhite gold mine operated by Placer Dome in northern Ontario.
Virginia has drilled both sides of the structure, with the best intersection returning 5 metres grading 4.41 grams gold per tonne (16.5 ft. of 0.13 oz.), which includes 3 metres of 6.03 grams (9.9 ft. of 0.18 oz.). The iron formation was intersected 80 metres below surface.
Virginia also reports that surface sampling of the Butterfly showing, 100 metres south of the new discovery, returned values of 1.51 grams over 9 metres (0.04 oz. over 29.7 ft.) and 3.16 grams over 4 metres (0.09 oz. over 13.2 ft.). The company intends to test the extension of the two structures to determine if they join up to become one larger structure.
The Auclair property covers a regional fold within iron formation, which covers a target area of about 150 sq. km. Virginia intends to drill-test the core and the eastern side of the regional fold.
The junior company has other exploration projects in the region, some of which have been optioned to majors. It also is part of a mining syndicate which staked more than 2,000 claims in the Sept-Iles region, where a government geologist discovered a nickel-copper showing last year.
Virginia plans to spend at least $3.5 million exploring its 30 Quebec properties this year, not including work financed by its major partners.
Be the first to comment on "Virginia discovers zone at Auclair"