Virginia Mines Inc VGMNF

RE: RE: Partners and update

[greenandgold]

Interesting, I didn't know about the plans for the Eleonore mill. I still think VGQ has to increase the gold resources at Lemoyne and other properties to make the deposits worthy of a major's investment. VGQ is not going to become a gold producer! They're trying to sell deposits and there are plenty of sub-million ounce reserves on the market that haven't been taken over. 500,000 ounces is not large enough to attract serious attention.

I do agree that VGQ has the best chance of anyone in the region to find a big gold deposit. These guys have an amazing track record.

I think their hopes (and the majority of their drilling money) lie with Coulon in the near future. They and their former partner Breakwater have probably invested over 40 million dollars in the property.  I crunched the #'s and it's a big discovery. The current indicated and inferred resources say there's 1.15 billion pounds of zinc, 394 million pounds of copper, 73 million pounds of lead, 16.7 million ounces of silver, and 80,000 ounces of gold at Coulon. If it can be mined economically there's billions of value there at current metals prices.

There are 5 or 6 lenses of mineralization and they'd like to find 5 or 10 more lenses, which would make this a really big mine. VGQ owns 100% of the property and they have a good chance to sell it if base metal prices continue to advance.