NEWS: $VERT Summarizes 2022 Menard Exploration
Vertical Exploration summarizes 2022 Menard exploration
2023-01-04 10:38 ET - News Release
Mr. Peter Swistak reports
VERTICAL PROVIDES 2022 EXPLORATION PROGRAM SUMMARY FOR NEWLY ACQUIRED QUEBEC WOLLASTONITE PROPERTY
Vertical Exploration Inc. has provided a summary of the 2022 phase 1 exploration program undertaken on its recently acquired Menard-Peribonka wollastonite property in Quebec (see Vertical's March 23 and Sept. 8, 2022, news releases). The 2022 program's objective was to detect and define the presence of marble rock zones that could potentially host wollastonite mineralization.
Vertical contracted Magnor Exploration Inc. to conduct and complete the work program on the Menard property between May and September, 2022. The Menard property has an approximate surface area of 2,000 hectares (ha), and is located just north of Lac Saint-Jean in Saguenay, Que. The original historical work undertaken on the Menard property was carried out by Resources Orleans between 1990 and 1992. At that time, Orleans also owned Vertical's St-Onge wollastonite deposit, which is located 26 kilometres east of Menard property.
During the 2022 phase 1 program, extensive exploration work was carried out on numerous historical wollastonite occurrences that were primarily located in the northern part of the Menard property. From the 648 sites that were visited on the property during the 2022 program, more than 584 samples were taken for geochemical assay for trace elements and major oxide elements. These assayed samples are from grabbing/prospecting (256 samples), channelling (158 samples, 97.72 metres) and portable drilling (170 samples). More than 59 samples selected for prospecting contained wollastonite, varying from 5 to 67 per cent wollastonite, and these were from sites located primarily in the northern part of the property. Magnor undertook hand-made trenching to reopen the old trenches and complete the channelling work, and this work confirmed the presence of wollastonite-rich rock bands ranging from 5 to 71 per cent wollastonite over one metre to several metres in width (less than 3.3 m). The mineralized bands persist laterally for several dozen metres right up to 100 metres in length. Some areas in the northern part of the property were evaluated by 46 small bore (BQ) portable drill holes totalling 77.1 metres. The BQ holes were moderately dipped to intersect foliation and mineralization near a right angle to obtain true thicknesses of intersected mineralized intervals. Twenty of these BQ holes intersected wollastonite mineralization, ranging from 5 to 44 per cent wollastonite over hole lengths ranging from 0.30 metre to 5.08 metres. The wollastonite zones identified during the 2022 program can potentially measure up to 100 metres in width by several hundred meters in length. However, these zones are not homogeneous, and the wollastonite-bearing marble bands are most often intercalated with barren rock bands and/or crosscut by felsic intrusive dike and plug.
Over all, the company considers the 2022 Menard phase 1 exploration program to be a success. This is based on the fact that most of the historic wollastonite mineralization results attained by Orleans were confirmed in the field during the 2022 program, and additionally new wollastonite mineralized sites were found both in the northern part and in other parts of the Menard property. Orleans had originally identified a megawollastonite mineralized zone up to 300 metres wide by 2,000 metres long in the northern part of the property characterized by series of non-continuous outcrops with concentrations ranging from 5 to 40 per cent wollastonite. The 2022 program confirmed this wollastonite megazone by identifying 18 mineralized zones, of which 14 zones are in the northern block of the property.
Peter P. Swistak, president/chief executive officer of Vertical Exploration, commented: "The company is pleased to have completed the 2022 exploration program on our newly acquired Menard wollastonite property located near St-Onge, and we are especially encouraged by the strong wollastonite results achieved by our contractor Magnor. Vertical continues to believe that the Menard property is the most prospective remaining wollastonite property in Quebec outside of the company's flagship St-Onge property. Given the strong results encountered during the 2022 phase 1 work program, Vertical intends to follow Magnor's recommendation that we continue our exploration work and move forward with a phase 2 program in 2023 to better define the extent and thickness of the wollastonite mineralized zones identified on the highly prospective Menard property."
Qualified person
The technical information contained in this report has been reviewed and approved by Jean-Paul Barrette, Geo/PGeo, an independent project geologist for Magnor Exploration and consultant for Vertical Exploration. Mr. Barrette is the project geologist on the Menard-Peribonka wollastonite project. He is a member of the Ordre des Geologues du Quebec (OGQ) with the membership No. OGQ 619. Mr. Barrette has sufficient experience (38 years) relevant to the style of mineralization, the type of deposit under study and the activities being undertaken to qualify as a competent person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Vertical Exploration Inc.
Vertical Exploration's mission is to identify, acquire and advance high-potential mining prospects located in North America for the benefit of its stakeholders. The company's flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the province of Quebec.
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