Visible Gold (TSX: V.VGD, Stock Forum) was happy to update that exploration activities at its 167 project located approximately 320 kilometres north of Chibougamau city in the James Bay region smack in the middle of Plan Nord territory were moving along nicely.
According to the news release, the drill program is still currently underway by Chibougamau Diamond Drilling of Chibougamau, Quebec, with six of the eleven holes drilled so far having logged cores.
No results have been received yet from the drilled holes, but the company noted that it will communicate them in a timely fashion.
Company President and CEO, Martin Dallaire, commented on the progress, “While this project is still in its early days and despite the fact that each hole is very far from each other, it is interesting to note that sulphide mineralization was encountered in six exploration holes so far.”
Visible Gold was in the news recently when the Rouyn-Noranda, Quebec-based company offered another diamond drilling update in the first half of February.
Shares rose 11.76% on the news to $0.19 per share.
Currently there are 80.1m outstanding shares with a market cap of $15.2 million.