Virginia Gold Mines Inc.: Eleonore Project.QUEBEC CITY, Quebec -- Virginia Gold Mines Inc. ("Virginia") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :VIA) - DEEP DRILLING CONFIRMS ROBERTO TO A DEPTH OF 600 m AND YIELDS UP TO 11.8 g/t Au / 24.2 m - ROBERTO NORTH EXTENSION CONFIRMED BY STRIPPING - ROBERTO FW GRADES 4.49 g/t Au / 32.2 m TO A DEPTH OF 660 m. Virginia Gold Mines Inc. ("Virginia") (TSX:VIA) is pleased to announce new developments concerning the exploration program currently in progress on the Eleonore property (100% Virginia), located in the Opinacareservoir, James Bay James Bay, shallow southern arm of Hudson Bay, c.300 mi (480 km) long and 140 mi (230 km) wide, E central Canada, in Nunavut Territory between Ont. and Que. Numerous rivers flow into the bay; many of these have been developed for hydroelectric power in Quebec (see . In total seven (7) new holes (ELE-05-114 to ELE-05-120) tested the Roberto mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. system and have once againyielded very good results at depth. Furthermore, a recently initiated stripping program confirmed the extension of the Roberto zone on the north shore of the reservoir. Depth Extension New holes confirmed the continuity of the Roberto zone to a vertical depth of 600 m and crosscut very good intersections including 11.8 g/t Au / 24.2 m (ELE-05-117), 18.67 g/t Au / 7.25 m (ELE-05-116), 22.41 g/t Au / 2 m (ELE-05-115B) and 6.76 g/t Au / 9.5 m (ELE-05-114) (see longitudinal).Hole ELE-05-115B also intersected the Mid-Roberto zone, which graded 9.98 g/t Au / 6 m.The Mid-Roberto and Roberto zones are interpreted as being two subsidiary branches that can anastomose a·nas·to·mose v. 1. To join by anastomosis. 2. To be connected by anastomosis. to form one single zone. Hole ELE-05-116 also crosscut another mineralized intersection that graded 4.49 g/t Au / 32.2 m to a vertical depth of 660 m.This mineralized zone, located about a hundred metres in the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. of the Roberto zone, interpreted as being the Roberto FW zone, which had never reported such good results until now. The Roberto mineralized system remains totally open at depth. North Extension Mechanical stripping, recently initiated, also yielded very encouraging results, as the extension of the Roberto zone was confirmed on the north shore of the Opinaca reservoir in trench TR-52 (see surface plan).The zone is ENE- oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. and presents typical alterations and arsenopyrite arsenopyrite (är'sĭnōpī`rīt, ärsĕn`ō–) or mispickel (mĭs`pĭkəl), silver-white to steel-gray mineral with the metallic luster characteristic of a pyrite. mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. over a width of 5 to 6 m. A quartz vein (less than 1 m thick) showing several visible gold grains is present within the mineralized zone.The zone was tested by two channels, approximately 10 m apart, which graded 11.7 g/t Au / 5 m (including 53.66 g/t Au / 1 m) and 22.3 g/t Au / 4 m (including 84.36 g/t Au / 1 m).This new discovery is very significant and lengthens the known extension of the Roberto system by 100 m. New Peripheral Zones Holes also crosscut many other very significant auriferous au·rif·er·ous adj. Containing gold; gold-bearing. [From Latin aurifer, gold-bearing : aurum, gold + -fer, -fer. intersections approximately 400 m to the east of the Roberto system (see surface plan).Best results include 16.76 g/t Au / 5 m and 9.92 g/t Au / 3 m (ELE-05-114), 3.20 g/t Au / 20 m and 33.01 g/t Au / 1 m (ELE-05-115B), 465.75 g/t Au / 1.11 m and 44.29 g/t Au / 1 m (ELE-05-119), 20.8 g/t Au / 1 m (ELE-05-117) and 17.44 g/t Au / 1 m (ELE-05-116).Mineralization is typical of the Roberto style and consists in microcline-tourmaline alteration zones with disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. sulphides (Aspy-Po) and quartz veinlets.The exact geometry of these new peripheral zones and their relation with the Roberto mineralized system are not well defined but are being interpreted for now as a series of north-south-oriented, parallel zones. These results are very encouraging since the Roberto system is now traced over more than 1.3 km laterally and to a vertical depth of 600 m and remains totally open.Furthermore, new zones seem to emerge in the periphery periphery /pe·riph·ery/ (pe-rif´er-e) an outward surface or structure; the portion of a system outside the central region.periph´eral pe·riph·er·y n. 1. of the Roberto system, which indicates once again the very promising potential of the Eleonore property.In June, Virginia initiated an intensive drilling 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 See certification. 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 gra·vim·e·ter n. 1. An instrument used to measure specific gravity. 2. An instrument used to measure variations in a gravitational field. according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. 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 $36 million, debt free, and with approximately 45 million shares issued and outstanding.Virginia's shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (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: http://www2.ccnmatthews.com/database/fax/2000/TAB0714.pdf Maps related to the Eleonore Project are available on CCNMatthews' website at the following addresses: http://www2.ccnmatthews.com/database/fax/2000/ELE10714.jpg http://www2.ccnmatthews.com/database/fax/2000/ELE20714.JPG http://www2.ccnmatthews.com/database/fax/2000/ELE30714.JPG http://www2.ccnmatthews.com/database/fax/2000/ELE40714.JPG http://www2.ccnmatthews.com/database/fax/2000/ELE50714.JPG VIRGINIA GOLD MINES INC. (TSX:VIA) |
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