Holy Phoque!Virginia Gold Mines Inc./Eleonore Project-Roberto: 20.66 g/t Au / 12.05 M to a
Depth of 550 M, Emergence of New Gold-Bearing Zones in Periphery
08:00 EDT Thursday, June 09, 2005
QUEBEC CITY, Quebec (Business Wire) -- Virginia Gold Mines Inc.(TSX:VIA)
("Virginia") is very pleased to announce new developments concerning its
exploration program currently in progress on the Eleonore property (100 %
Virginia), located in the Opinaca area, James Bay. In total fourteen (14) new
holes (ELE-05-100C to ELE-05-113) tested the Roberto mineralized system.
Furthermore, an exploration program testing other targets in periphery of the
Roberto system yielded very interesting results that revealed the emergence
of new gold-bearing zones on the property.
Depth Extension
The vertical continuity of the Roberto zone was extended by 160 m to a depth
of 550 m by hole ELE-05-113, which crosscut an intersection grading 20.66 g/
t Au / 12.05 m (see longitudinal). This intersection, the deepest one to date in
the Roberto zone, is of great importance to Virginia since it confirms the
persistence of high grades and good thicknesses at depth in the Roberto
zone. This is also confirmed by hole ELE-05-112, which crosscut the Roberto
zone to a vertical depth of 450 m with an intersection grading 12.74 g/t Au / 9
m. Hole ELE-05-105 also yielded very good results at depth, including 23.94
g/t Au / 3.25 m in the Mid-Roberto zone to a vertical depth of 430 m and 10.44
g/t Au / 2.25 m in the Roberto zone to a vertical depth of 475 m.
The Roberto Est zone was also confirmed to a depth of approximately 450 m
and returned good results, including 51.91 g/t Au / 2.4 m (ELE-05-113), 3.39
g/t Au / 5 m (ELE-05-102) and 5.28 g/t Au / 2 m (ELE-05-105) (see
longitudinal). Supplementary analysis also revealed the presence in hole
ELE-05-98 (previously announced) of the Roberto Est (FW) zone which
graded 13.98 g/t Au / 4 m to a vertical depth of 350 m.
The Roberto mineralized system remains totally open at depth.
Southeast Extension
Recent drilling prolonged the extension of the Roberto mineralized system by
50 m to the southeast, up to line 67+50E (see surface plan) and demonstrated
its vertical continuity to a depth of nearly 350 m (see longitudinals). Drilling
tested the Roberto Est and Mid-Roberto zones on a tighter pattern and further
confirmed the good continuity of these mineralized zones. The Roberto Est
zone yielded several good intersections, notably 4.3 g/t Au / 19 m (ELE-05-
100C); 6.04 g/t Au / 6.32 m (ELE-05-101); 6.73 g/t Au / 5 m (ELE-05-103); 5.67
g/t Au / 4.32 m (ELE-05-104); and 6.35 g/t Au / 5 m (ELE-05-106). The Mid-
Roberto zone also returned good results, including 14.08 g/t Au / 3.05 m and
11.51 g/t Au / 2 m (ELE-05-108); 6.19 g/t Au / 6 m (ELE-05-106) and 8.03 g/t
Au / 2.74 m (ELE-05-104). The mineralized system maintains all its strength
and remains open laterally and at depth.
Some holes targeting the southeast extension of the Roberto system also
intersected a new mineralized zone of the same type, about 100 m north of
the Roberto Est zone (see surface plan). This new zone, called zone Sud,
was traced laterally over a distance of 150 m and yielded results that included
4.85 g/t Au / 4 m (ELE-05-108), 3.10 g/t Au / 4 m (ELE-05-96) and 8.78 g/t Au /
0.62 m (ELE-05-99). The zone is open to the east and at depth.
Extension near the surface
Virginia took advantage of the spring thaw to complete the drilling pattern for
the Roberto zone near the surface. Holes ELE-05-109 and ELE-05-110 both
confirmed the Roberto zone at shallow depth with intersections grading 22.61
g/t Au / 2.1 m and 37.57 g/t Au / 2 m respectively (see longitudinal). Hole ELE-
05-111 did not crosscut Roberto but intersected Roberto Est (FW), which
graded 11.16 g/t Au / 1.4 m (see longitudinal).
Peripheral exploration
Simultaneously with the drill program on Roberto, Roberto Est and Mid-
Roberto, Virginia also conducted, in the Fall-2004-Winter-2005 period, a
program of mechanical stripping and drilling to test other geophysical,
geological and geochemical targets in the periphery of the Roberto system.
Although many of these targets were explained by barren sulphides, three
areas yielded very encouraging results that indicate the emergence of
additional gold-bearing zones on the property.
The most encouraging results come from the trench TR-20 area, located
approximately 800 m to the ENE of the Roberto system centre (see surface
plan). This trench, which had yielded up to 0.81 g/t Au / 37 m in channel
sampling in 2003, was prolonged in the fall of 2004 and a new channel
located in its north extension graded 6.47 g/t Au / 6 m. Mineralization consists
of finely disseminated sulphides (arsenopyrite-pyrrhotite), associated with
quartz- tourmaline-actinolite veins and veinlets in a very altered wacke.
Seven (7) holes testing the mineralization at shallow depth crosscut large
intersections very anomalous in gold and frequently including thinner
intervals but with higher grades: 0.75 g/t Au / 121 m (incl. 0.95 g/t Au / 68 m)
(ELR-04-04), 9.49 g/t Au / 3 m, 7.2 g/t Au / 1 m and 0.87 g/t Au / 58 m (ELR-04-
05), 3.08 g/t Au / 15 m (incl. 32.18 g/t Au / 1 m), 3.97 g/t Au / 4 m and 6.45 g/t
Au / 1 m (ELR-04-06), 0.85 g/t Au / 71 m (incl. 1.18 g/t Au / 37 m) and 1.1 g/t
Au / 11 m (ELR-04-07), 2.66 g/t Au / 5 m and 1.28 g/t Au / 94 m (incl. 80.54 g/t
Au / 1 m) (ELR-04-13), 0.98 g/t Au / 27 m and 0.86 g/t Au / 57 m (ELR-04-14)
and 0.70 g/t Au / 120 m (incl. 5.31 g/t Au / 3 m as well as 1.11 g/t Au / 23 m)
(ELR-04-18). This new gold-bearing area is open in all directions and hole
ELR-04-17, testing an IP anomaly 250 m NW of the TR-03-20 trench,
intersected two mineralized intervals grading 10.61 g/t Au / 1 m and 3.5 g/t Au
/ 2 m.
The second promising area is that of trench TR-11, about 500 m to the SE of
trench TR-20. This trench had returned 2.42 g/t Au / 5.25 m in channel
sampling in 2003. Hole ELR-04-08 that crosscut an intersection grading 4.01
g/t Au / 12 m, including 9.5 g/t Au / 4 m, is the only hole that tested this
mineralization, which is of the same type as trench 20. It remains open in all
directions.
A third area of interest was outlined by hole ELR-05-26 that was testing an IP
anomaly, 140 m to the west of the Roberto zone. This hole intersected a
mineralized zone of the Roberto type, which graded 1.3 g/t Au / 14 m,
including 3.05 g/t Au / 2 m.
These results are very encouraging, as the Roberto system is now traced
laterally over more than 1.2 km and to a vertical depth of 550 m and remains
totally open. Furthermore, work carried out in the periphery of the Roberto
system indicates the emergence of new gold-bearing zones with very
promising potential. Indeed, at least five new significant zones were outlined
around the Roberto system since the beginning of the drilling in the fall of
2004, notably the Veine zone (34.66 g/t Au / 6.6 m; 70.14 g/t Au / 1.8 m; news
release of December 13, 2004), the Mayapo zone (8.44 g/t Au / 8 m; 3,99 g/t
Au / 9 m; news release of March 16, 2005), the TR-20 area (6.47 g/t Au / 6 m;
3.08 g/t Au / 15 m; 9.49 g/t Au / 3 m), the TR-11 area (2.42 g/t Au / 5.25 m; 4.01
g/t Au / 12 m, including 9.5 g/t Au / 4 m) and the zone Sud (4.85 g/t Au / 4 m;
3.10 g/t Au / 4 m). The development of one or many of these new zones could
significantly increase the gold resources on the property. This is why, in June,
Virginia will initiate a significant drill program (three drills) and mechanical
stripping to accelerate the evaluation of the Roberto system and its peripheral
zones.
Work is carried out by the personnel of Services Techniques Geonordic Inc.,
under the supervision of Geological Engineer, Paul Archer. He is a qualified
person (as defined by National Instrument 43-101) and has more than 20
years of experience in exploration.
In 2004 Virginia set up an Analytical Quality Assurance Program to control
and assure the analytical quality of assays in its gold exploration. This
program includes the systematic addition of blank samples and certified
standards to each batch sample sent for analysis at commercial laboratories.
Blank samples are used to check for possible contamination in laboratories
while certified standards determine the analytical accuracy and precision.
Samples are sent for assaying to Laboratoire Expert Inc. in Rouyn-Noranda.
Samples are assayed by fire-assay followed by atomic absorption or
gravimetry according to industry standards. For each significant mineralized
intersection, 10% of the samples (1 to 2 per intersection) are quarter split and
the core is sent to a second certified laboratory. Furthermore, each pulp from
the quarter split is returned to the first laboratory for a second gold analysis in
order to cross check the analytical reproducibility.
Virginia Gold Mines Inc. is among the most active mining exploration
companies in Quebec with a working capital of over $30 million, debt free,
and with approximately 43 million shares issued and outstanding. Virginia's
shares trade on the Toronto Stock Exchange (TSX) under the symbol VIA.
Virginia concentrates its activities on its numerous properties that are spread
over the vast unexplored regions of northern Quebec.
Tables of drilling results are available on CCNMatthews' website at the
following address:
https://www2.ccnmatthews.com/database/fax/2000/roberto0609.doc
Maps related to the Eleonore Project are available on CCNMatthews' website
at the following addresses:
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https://www2.ccnmatthews.com/database/fax/2000/map10609.JPG
https://www2.ccnmatthews.com/database/fax/2000/map20609.jpg
https://www2.ccnmatthews.com/database/fax/2000/map30609.jpg
https://www2.ccnmatthews.com/database/fax/2000/map40609.jpg
VIRGINIA GOLD MINES INC. (TSX:VIA)
Virginia Gold Mines Inc.
Andre Gaumond
President
(800) 476-1853 or (418) 694-983
Fax: (418) 694-9120
OR
Virginia Gold Mines Inc.
Paul Archer
V.P. Exploration (QP)
(800) 476-1853 or (418) 694-983
Fax: (418) 694-9120
OR
Virginia Gold Mines Inc.
Amelie Laliberte
Investor Relations
(800) 476-1853 or (418) 694-983
Fax: (418) 694-9120
mines@virginia.qc.ca
www.virginia.qc.ca