Rouyn-Noranda, Québec, Canada - November 4, 2014 - Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to announce the discovery of numerous rusty and angular boulders located in the middle section of its new project called "167 EXTENSION". The project's south boundaries are located approximately 320 kilometres north of Chibougamau city in the James Bay region in the heart of Plan Nord territory. The 167 EXTENSION project is 100% owned by Visible Gold Mines and represents up to 400 square kilometres.
In 2011 when the Québec Government launched its ambitious Plan Nord project to develop Québec's north, including the construction of a 243 kilometre-long all-season road that links Stornoway's Renard Diamond project to the provincial highway network, Visible Gold Mines' management decided to acquire the available mining rights along and each side of the new road in order to have access to new outcrops and strippings generated by the road construction. Visible Gold Mines kept adding claims since by acquisition and staking and so the project 167 EXTENSION was born. Out of the 140 kilometres of new road available for mining exploration (the first 102 kilometres is a projected provincial park), Visible Gold Mines owns over 100 kilometres.
A number of high grade boulders were initially found at KM105 along the 20km long EAST-WEST volcanic belt but three more boulders were discovered a little further north, this entire area is now known as KM107. Furthermore the exploration team discovered another area of interest near KM147 along the road at the junction of the Opinaca and Opatica provinces. See Visible Gold Mines website at www.visiblegoldmines.com for interactive map and pictures.
A table outlining the results follows:
Sample no. Au (g/t) Ag (g/t) Cu (%) Zn (%)
KM147
55860 142.5 22.2 0.61 0.02
55863 0.84 8.00 0.04 0.01
55876 0.97 7.3 0.13 -
55921 24.7 14.6 0.22 0.01
KM107
55856 9.1 14.7 0.30 -
55857 29.8 15.6 0.06 0.02
55858 10.3 10.6 0.13 -
55130 7.28 56.80 2.23 2.99
55131 36.21 29.00 0.20 -
55132 38.76 68.40 2.05 0.02
55133 8.00 18.60 0.16 -
Note: Results from samples 55130, 55131, 55132, 55133 were previously disclosed in a press release September 24, 2014.
A recent prospecting and mapping fieldtrip in the second week of October also outlined another interesting area north of the discovery along the construction road over a distance of 800 meters. Dozens of rusty and angular erratic boulders were discovered. The boulders are primarily composed of alteration minerals with semi-massive to massive sulphides. Samples from these boulders were sent for analysis and results will be released as they become available. Following the receipt of all sample results, the Visible Gold Mines geological team will review the results and establish an exploration program in order to define the bedrock sources of these mineralized boulders.
Qualified Persons
Mr. Martin Dallaire, P.Eng., President and Chief Executive Officer of Visible Gold Mines, is the qualified person on the 167 EXTENSION exploration project information presented in this press release under National Instrument 43-101 Standards of Disclosure for Mineral Projects, is responsible for the technical contents of this press release and has approved the disclosure of the technical information contained herein. The data verification was conducted by Jeannot Theberge, P.Geo. under the supervision of Martin Dallaire, P.Eng.
Quality Control
Visible Gold Mines has implemented and adheres to a strict Quality Assurance/Quality Control for the current exploration programs. It includes one mineralized gold standard, one duplicate and one blank for each batch of samples. Analyses are performed by ALS Chemex, Val-d'Or, Québec, or Techni-Lab, Ste-Germaine-Boulé, Québec, both accredited laboratories.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic corporation aggressively searching for the next important gold deposit in the province of Québec, an area consistently ranked as one of the world's best jurisdictions for mining and exploration.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
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For further information, please contact:
Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609,
Fax: 819-762-0097
E-mail: [email protected]
Website: www.visiblegoldmines.com