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Valgold Resources ltd.

Publié le 05 mars 2010

Reports Final Results Of 2009 Drilling On Garrison Project, Ontario

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Thursday, March 04, 2010 www.valgold.com
Ticker Symbol: VAL - TSX Venture Exchange
SEC 12g3-2(b) exemption 82-3339

Valgold Reports Final Results Of 2009 Drilling On Garrison Project, Ontario

ValGold Resources Ltd. ("ValGold" or the "Company") is pleased to announce results from the last three drill holes of the 2009 diamond drill program on its 100%-owned Garrison gold property located in north eastern Ontario. Northern Gold Mining Limited ("Northern Gold", TSX-V: NGM) is the operator of the exploration program and is in the first year of an option agreement under which it is earning its interest in the Garrison gold property from ValGold. For more information on the option agreement, please see ValGold's news release dated September 14, 2009.

During 2009, eleven diamond drill holes totalling 2,333 metres ("m") were completed as a first step towards developing a resource calculation for the Garrcon shaft zones. The drill program involved step out and infill drilling on a minimum spacing of 25 to 30m. Multiple occurrences of visible gold were observed as fine disseminations in ten of the eleven holes drilled.

To date, the Garrcon shaft zones have been drilled over a strike length of 195m (640 feet), but the zones could continue for 500m (1600 feet) on strike as indicated by drilling by previous operators in 1987. The shaft zones have also been successfully tested to vertical depths beyond 200m (650 feet) in C-06-07 by ValGold, where 3.48 g/t Au was intersected over 13.5m at a down-hole depth of 275.5m.

The following table highlights the gold zone intersections in the holes: GAR-09-03A, -09 and -10:

HOLE ID FROM
(m)
TO
(m)
LENGTH
(m)
GRADE
(g/t)
ZONE
GAR-09-03A 36.0 64.0 28.0 1.01 Shaft B
Including 46.0 58.0 12.0 1.60  
including 56.0 56.5 0.5 8.50 *  
GAR-09-03A 93.0 94.0 1.0 1.13  
GAR-09-03A 129.0 130.0 1.0 1.60 Shaft C
GAR-09-03A 142.0 143.0 1.0 1.05 Shaft C
GAR-09-03A 159.5 161.5 2.0 3.03 * South Zone
GAR-09-09 35.0 36.0 1.0 2.36  
GAR-09-09 82.0 83.0 1.0 1.04 North B
GAR-09-09 103.0 132.0 29.0 4.90 North A+DZ
Including 112.0 132.0 20.0 6.74 North A+DZ
Including 112.0 117.0 5.0 14.67  
Including 115.5 116.5 1.0 33.22g *  
and 131.0 132.0 1.0 14.33  
GAR-09-10 18.0 19.0 1.0 0.90  
GAR-09-10 62.0 63.0 1.0 0.98  
GAR-09-10 70.0 71.0 1.0 2.29  
Note: All widths are down-hole thickness; *-visible gold observed in sample interval


GAR-09-03A was designed to test the Shaft zones east of the Garrcon shaft. GAR-09-09 was designed to test the north zones. GAR-09-10 was far removed from the other ten drill holes and was testing possible extensions of the Garrcon shaft zones east of the Garrcon shaft.

GAR-09-03A was drilled south and collared 100m (330 feet) east of the Garrcon shaft. This hole was advanced 10m in front of GAR-09-03 which finished in mine workings on the 73m level. Multiple occurrences of visible gold were noted in the shaft zones.

GAR-09-09 was drilled north and was designed to test the north zones 30m above GAR-09-01. A broad high grade interval was intersected in the north A and DZ including one sample with visible gold. This high grade interval correlates with a 22.0m intersection in GAR-09-01 which graded 4.21 grams per tonne gold ("g/t Au").

GAR-09-10 was drilled south and collared 500m east of the Garrcon shaft. This hole was designed to test possible extensions of the Garrcon shaft zones along strike. Several low grade sections were intersected which roughly correlate with the Garrcon shaft zones.

Northern Gold reported in a news release dated March 4th 2010 that with the results from the 2009 drill program it is defining targets for Phase II drilling on the Garrison gold property.

For further information on ValGold and its portfolio of exploration projects and joint ventures, visit the Company's website at www.valgold.com.

Stephen J. Wilkinson
President and Chief Executive Officer
ValGold Resources Ltd.

Tel: (604) 687-4622 Fax: (604) 687-4212
Email: info@valgold.com

No regulatory authority has approved or disapproved the information contained in this news release.


This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.valgold.com.

 

Valgold Resources ltd.

EXPLORATEUR
CODE : VAL.V
ISIN : CA9191472070
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Valgold Res. est une société d’exploration minière d'or basée au Canada.

Valgold Res. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont TOWER MOUNTAIN, GARRISON et GARRISON - JONPOL / MONETA au Canada.

Valgold Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 4,8 millions CA$ (3,7 millions US$, 3,1 millions €).

La valeur de son action a atteint son plus haut niveau récent le 06 juin 1997 à 9,50 CA$, et son plus bas niveau récent le 04 mars 2016 à 0,01 CA$.

Valgold Res. possède 38 250 407 actions en circulation.

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Financements de Valgold Resources ltd.
04/05/2011Completes Non-Brokered Private Placement Financing
28/04/2011Announces Increase in Non-Brokered Financing
13/04/2011Reports $1.8 Million Non-Brokered Financing
25/07/2008Completes Non-Brokered Private Placement Financing
26/06/2008Announces Non-Brokered Private Placement Financing
Attributions d'options de Valgold Resources ltd.
08/04/2011(angl) Grant of 50,000 options to IR provider
14/05/2010Grants Stock Options and Reprices Consolidated Options
Nominations de Valgold Resources ltd.
16/01/2015Announces Appointment of New Director and Director Resignati...
22/06/2012Announces New Directors
Projets de Valgold Resources ltd.
23/01/2013(Tower Mountain)Revises Agreement on Tower Mountain Gold Property, Ontario
19/09/2012(Tower Mountain)and Revolver Enter Option Agreement to Advance Tower Mountai...
12/10/2011Releases MBK Project Media Coverage
22/09/2011to Acquire Past Producing Gold-Silver Mine and Surrounding R...
16/08/2011in Negotiations for a Property Acquisition in Central Europe
27/05/2011(Tower Mountain)Commences Phase 2 Drill Program on Tower Mountain Gold Prope...
16/05/2011(Garrison)and Northern Gold Close Garrison Property Sale
12/05/2011(Tower Mountain)Reports Further Assay Results from the Tower Mountain Gold P...
08/04/2011(Tower Mountain)Reports First Results of 2011 Drill Program on the Tower Mou...
07/04/2011(Garrison)Northern Gold and Valgold Announce Agreement to Consolidate ...
31/03/2011(Garrison)Reports Six Additional Drill Holes for Garrison Gold Project...
01/03/2011(Garrison)Reports Strong Wide Intersections At Garrison Gold Project, ...
24/02/2011(Garrison)Reports Metallurgical Tests Indicate High Gold Recoveries fo...
22/02/2011(Garrison)Reports Further Infill Drill Results at Garrison Gold Projec...
05/03/2010(Garrison)Reports Final Results Of 2009 Drilling On Garrison Project, ...
23/02/2010(Garrison)Reports Additional Drill Results For The Garrcon Area, Garri...
29/01/2010(Garrison)& Northern Gold Issue Update on Drilling on Garrison Project...
15/09/2009(Garrison - Jonpol / Moneta)& Northern Gold Sign Option Agreement On Garrison Gold Prope...
25/08/2008(Tower Mountain)Completes Acquisition of Tower Mountain Property
21/05/2008(Garrison - Jonpol / Moneta) Files Technical Report For Its Garrison Gold Property, Onta...
08/04/2008(Garrison - Jonpol / Moneta) Reports Initial Resource Estimate For Its Garrison Gold Pro...
19/03/2008(Los Patos) Receives Positive Initial Gold Mineral Resource Estimate Fo...
Communiqués de Presse de Valgold Resources ltd.
16/01/2015ValGold Announces Appointment of New Director and Director R...
04/12/2014ValGold closes secured convertible financing
12/11/2014ValGold Arranges Non-Brokered Secured Convertible Financing
24/07/2013Announces Annual General & Special Meeting Results
05/06/2013Provides Update And Announces Advance Notice Policy
24/09/2012Grants Stock Options
07/08/2012has Relocated!
26/01/2012Raises Funds for Ukraine Venture from Partial Disposal of No...
30/11/2011Launches its New Corporate Website
25/07/2011(Tower Mountain)Announces Additional Positive Drill Results from the Tower M...
22/06/2011(Tower Mountain)Announces Further Positive Drill Results from the Tower Moun...
08/04/2011Reports On Annual General Meeting; Appointment Of Investor R...
22/04/2010Shareholder Update April 2010
13/04/2010Completes Oversubscribed Financing
03/03/2010Completes Restructuring And Subscription Receipts Offering
04/02/2010Reports On Annual And Special Meeting
28/01/2009Status Report
07/01/2009Default Status Report
28/05/2008for our Shareholder's and Supporters
31/03/2008Defines Gold Targets In NW Guyana
17/03/2008 Discovers New Copper/Nickel/Platinum/Palladium Target In Gu...
09/01/2008 Hiring
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