Attention Business Editors:
Winter drilling confirms significant gold zone
TORONTO, May 14 /CNW/ - Viking Gold Exploration Inc. (VGC: TSX-V)
announces preliminary results from its twelve-hole in-fill winter drill
program on the Viking Yellowknife joint-venture property (60% Viking Gold
Exploration, and 40% Viking Yellowknife Gold Mines Ltd., a 78.8%-owned
subsidiary of Lakota Resources Inc.). The property is part of the Company's
Morris Lake gold exploration project located 70 km north of Yellowknife, NWT.
The program was designed to create a three dimensional view along
200�metres of strike length of a 1,500-metre-long geochemically anomalous
altered zone that is a favourable host for significant gold mineralization.
The drill pattern consisted of three holes from each of four drill sites
spaced 50 metres apart along strike.
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Au
Hole number From To Length (grams
(m) (m) (m) per tonne)
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V-08-14 100.60 101.10 0.50 1.6
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V-08-14 102.00 102.50 0.50 0.5
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V-08-16 183.88 184.16 0.28 4.2
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V-08-16 231.65 231.90 0.25 1.0
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V-08-18 179.75 180.00 0.25 13.2
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V-08-19 195.06 195.62 0.56 1.1
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V-08-19 224.66 226.08 1.42 3.9
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V-08-20 120.65 121.35 0.70 2.7
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V-08-20 127.10 127.50 0.40 4.2
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V-08-20 148.10 149.15 1.05 0.5
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V-08-23 134.62 135.10 0.48 0.6
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V-08-24 186.06 186.33 0.27 11.3
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V-08-25 215.04 215.35 0.31 4.5
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Assay results confirm the presence of noteworthy gold mineralization in a
zone of recently reinterpreted altered volcanic rock. Gold values greater than
0.5 grams per tonne (gpt) were intersected in six of the holes and values
greater than 0.1 gpt were intersected in all but two holes.
The program has validated the drill results obtained by Athona Mines in
1946 and by Canamax Resources in 1988-1989 in the vicinity of an inclined
exploration shaft sunk in 1947, and has extended the vertical depth of drilled
gold mineralization to 210 metres. The mineralized zone remains open down dip.
The core samples were analyzed by Acme Analytical Laboratories in
Vancouver by 37 element ICP-MS analysis. Samples assaying 0.5 gpt gold or more
are being reanalyzed by fire assay. The winter drilling program was carried
out under the direct supervision of Dr. Robert Ginn P.Eng., President and CEO
of Viking and the Qualified Person for the project.
Management is encouraged by the results of the winter campaign and are
planning a summer program to test a series of geochemical lake sediment
anomalies outlined in 2007 that are in the vicinity of untested ground
geophysical EM conductors outlined by Newmont Exploration in the early 1980s.
The Morris Lake project covers a very prospective, relatively unexplored
northeast-trending mineralized belt favourable for hosting significant gold
mineralization. The northeastern part of the project property includes the
southwestern continuation of the Ormsby Break, a geological feature on which
Tyhee Development has reportedly outlined 8.2 million tonnes grading 3.53 gpt
of gold. Immediately northeast of the Ormsby Zone is the site of the Discovery
Mine, which produced just over one million ounces of gold from one million
tons of ore between 1949 and 1969.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
%SEDAR: 00007999E
For further information: George Werniuk, Vice President, (416) 364-6244 ext
251 or visit our website at: www.vikinggold.ca
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Viking Gold Exploration Inc.
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CODE : VGC.V |
ISIN : CA9267661069 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Viking Gold Expl. est une société d’exploration minière d'or basée au Canada. Viking Gold Expl. détient divers projets d'exploration au Canada. Son principal projet en exploration est MORRIS LAKE GOLD au Canada. Viking Gold Expl. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 398 900 CA$ (305 837 US$, 272 837 €). La valeur de son action a atteint son plus haut niveau récent le 30 décembre 2004 à 0,77 CA$, et son plus bas niveau récent le 22 mars 2016 à 0,01 CA$. Viking Gold Expl. possède 79 780 000 actions en circulation. |