Visible Gold should have flown by the 10 cent mark today...Gold-bearing boulders bode well for Quebec explorer Visible Gold
24th September 2014
Updated 38 minutes ago
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TORONTO (miningweekly.com) – Four rusty and angular gold-bearing boulders found along a new all-weather road being built to Stornoway Diamond Corp’s Renard project, in north-western Quebec, were boding well for gold explorer Visible Gold Mines, who is on a mission to find the region’s next major gold mine.
The Quebec government in 2011 launched its ambitious ‘Plan Nord’ to develop infrastructure in the province’s far-laying reaches, which TSX-V- and Frankfurt-listed Visible saw as an opportunity to look for new gold projects near to the new infrastructure.
Since 2011, Visible had been staking claims all along the proposed 243 km-long all-season road that linked Stornoway's Renard project to the provincial highway network, in order to have access to new outcrops and strippings generated by the road construction, with one of the latest claims being called ‘167 Extension’.
It was on this property, located about 320 km north of Chibougamau city, in the James Bay region, where the company found what it believed could be the early start of a new significant find.
Visible said that it had sent samples from the four boulders for assays, which returned promising results. Among the results, sample 55130 returned grades of 7.28 g/t gold, 56.8 g/t silver, 2.23% copper and 2.99% zinc, while sample 55132 returned 38.76 g/t gold, 68.4 g/t silver, 2.05% copper and 0.02% zinc.
"These positive early indications underscore the potential of this entire area, which has clearly been under-explored and is now all-season accessible by vehicle.
“We keep reminding our geological team that the two last major discoveries in James Bay area, Goldcorp's Eleonore and Stornoway's Renard discoveries, were both discovered by boulder tracing in glaciated terrain,” Visible president and CEO Martin Dallaire said.
A recent prospecting and mapping fieldtrip also outlined another interesting area north of the discovery, along the construction road over a distance of 500 m. Visible reported that it had discovered several rusty and angular erratic boulders, which were mainly composed of alteration minerals with semi-massive to massive sulphides.
Samples from these boulders were sent for analysis.
The company said that after it had received the results, its geological team would review the results and establish an exploration programme in order to define the bedrock sources of these mineralised boulders. A gabbroic outcrop sample about 200 m north had returned 0.6 g/t of gold.
Edited by: Creamer Media Reporter
https://www.miningweekly.com/article/gold-bearing-boulders-bode-well-for-quebec-explorer-visible-gold-2014-09-24