Verneuil final assay results
26 Junio 2012 - 7:30AM
PR Newswire (Canada)
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. WIRE SERVICES TORONTO, June 26, 2012 /CNW/ - Viking Gold
Exploration Inc. , the "Company", is pleased to announce that it
has now received the final assays for its Verneuil Project, winter
drilling program. The 4200-metre winter drilling program was
conducted in late 2011 and was distributed between 20 new drill
holes and 2 holes from previous programs that were deepened. The
Verneuil Project consists of 3 adjacent mineral exploration
properties (Verneuil East, Central and West) with a total of 72
claims located approximately 15 kilometres east of
Lebel-sur-Quevillon, 210 kilometres northeast of Val d'Or,
Quebec. Golden Tag Resources Ltd. holds a 30% joint venture
interest in the 44 claims of Verneuil Central. Assay results for
the winter drilling program, based on the atomic absorption
spectroscopy (AAS) method, were presented in the Company's February
14, 2012 press release, at which time it was reported that 275
samples would be re-assayed using the metallic sieve method (SCR)
method due to the possible coarse-gold nature of the
mineralization. The Company has now received the new SCR
assay results and compared them to the original AAS assay results,
and confirms that the two sets of results are mutually
consistent. Several instances were noted where the gold
content increased significantly under SCR when compared to
AAS. All samples were fire-assayed by ALS Chemex, at its Val
D'Or, Quebec laboratory. The AAS and SCR-based assays used
30-gram and 1000-gram charges of prepared sample pulp,
respectively. For additional explanations of the assay
procedures used, please refer to the Company's website. Below are
some of the most significant assay results from the Toussaint Zone,
split into the Main and East Zones, identified by drill hole #
(including year of drilling - 1992, 1993, 1994 and 2011): Toussaint
Main Zone (West, corresponding to the historical Toussaint Main
Lens): -- 10.748 g/t Au over 4.85m (VP-92-10) -- 7.241 g/t Au over
3.84m (VP-93-16) -- 5.109 g/t Au over 3.0m (VP-92-32) -- 33.245 g/t
Au over 3.0m (VP-11-11) -- 20.160 g/t Au over 2.6m (VP-94-45) --
4.745 g/t Au over 4.9m (VP-93-21) -- 4.937 g/t Au over 2.0m
(VP-93-31) Toussaint East Zone: -- 7.840 g/t Au over 3.0m
(VP-11-15) -- 11.707 g/t Au over 5.2m (VP-93-22) -- 8.70 g/t Au
over 3.0m (VP-11-18) -- 20.01 g/t Au over 2.0m (VP-11-05) -- 30.1
g/t Au over 1.0m (VP-11-18) -- 30.252 g/t Au over 0.8m (VP-93-25)
-- 4.445 g/t Au over 3.0m (VP-11-18) -- 4.465 g/t Au over 2.0m
(VP-11-18) A brief discussion of the 2011 winter drilling program
at Verneuil follows. Diamond Drilling The winter drilling program
was distributed between the Toussaint Zone and 3 new target areas
identified in the 2011 induced polarization (IP) survey. Target #1
and #5 are respectively located near the JD Showing and west along
the strike of the Moneta Porcupine Showing. Target #4 is
south and parallel to the Toussaint Zone. The reconnaissance
holes over these targets returned occasional low Au values. Over
the Toussaint Zone, considered to be the most important mineralized
zone on the property, the objective of the drilling program was to
further define the extents of the main Toussaint lens (located
under trenches TR-11-01 & 02), and to verify the continuity of
mineralized zones towards the East. Please view the Company's
longitudinal sections for the Toussaint Main and East Zones, which
summarize the Au results by drill hole from both historical and
recent drilling programs. These sections accompany the
branded version of this press release for SEDAR and the Company's
website. Some interpretive information from the longitudinal
sections is presented below. The drill sections for the Toussaint
Main Zone indicate that the higher Au values are relatively well
grouped into a planar feature, which ranges from a few metres up to
10 metres or more in thickness. The geometry of the mineralized
zones becomes more complex in the Toussaint Main Zone.
Between lines L5250E and L5400E (see detailed grid), two main
altered zones are present in the drill holes, the southern one
interpreted as the continuity of the Toussaint Main Zone, and the
northern one identified as the "Hanging Wall Zone" in the previous
works. The "Hanging Wall Zone", which returned occasional Au
values up to 2.42 g/t over 1.0 metre, was not tested further east.
From line L5400E to line 5600E (Toussaint East Zone), a number of
holes intersected successive altered zones over several tens of
metres. With the 50 metres spacing between the drill holes
sections and the complexity of the geology, specifically the
pattern of the altered zones and the distribution of Au values,
further detailed work is required to better define the structure,
extent and Au contents of the East Toussaint Zone. Sample results
and observations from the trenches and drill holes indicate that
some of the higher Au values are not only limited to the main
altered shear zones, but can also be located near the edges or up
to several metres outside. Pierre Poisson, P.Geo., an independent
"Qualified Person" as that term is defined in NI 43-101, has
reviewed and approved the technical disclosures in this news
release. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release. This press release contains
forward-looking statements. All statements, other than of
historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements regarding
the estimation of mineral resources, exploration results, potential
mineralization, potential mineral resources and mineral reserves)
are forward-looking statements. Forward-looking statements are
often identifiable by the use of words such as "anticipate",
"believe", "plan", may", "could", "would", "might" or "will",
"estimates", "expect", "intend", "budget", "scheduled", "forecasts"
and similar expressions or variations (including negative
variations) of such words and phrases. Forward-looking statements
are subject to a number of risks and uncertainties and other
factors that may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things, without limitation, failure to
establish estimated mineral resources, the possibility that future
exploration results will not be consistent with the Company's
expectations, the price of commodities and other risks identified
in the Company's documents filed with the Canadian securities
regulatory authorities on SEDAR.com. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement.
Viking Gold Exploration Inc. CONTACT: please contact Mark Edwards,
CEO at (905) 752-2008 or visit theCompany's website at:
www.vikinggold.ca.
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