Val-d'Or, Québec--(Newsfile Corp. - November 19, 2020) - Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-d'Or Mining" or the "Company") provides an update about the progress on several of its 2020 field exploration programs.
Magoma Prospect
Val-d'Or Mining announces the completion of its 2020 prospecting and sampling program at the Magoma Prospect (see Figure 1: Prospect Location Map). The primary metallogenic target is an orogenic gold deposit spatially related to a deformation (shear) zone, hosted in altered and mineralized metavolcanic rocks. Details about historic exploration programs and a summary of the Company's own exploration efforts leading up to this program have been reported in the Val-d'Or Mining news release dated September 10, 2020.
Figure 1: Prospect Location
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The objective of the 2020 prospecting and sampling program was to identify the strike extensions of the historical gold mineralization and to explore for potential parallel mineralized zones.
The prospecting program was successful in tracing the shear zone corridor for over 900 metres from the historic gold showing along strike to the NW. This wide NW-SE trending corridor is characterized by strongly banded schist and quartz veins, which can be identified from the sample locations shown on Figure 2 (Sample Location Map).
Figure 2: Grab Sample Location
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A follow-up program of selective overburden stripping, bedrock cleaning and detailed geological / structural mapping is planned for the next stage of exploration at the Magoma Prospect.
Rivière Lois Cu-Zn-Ag Prospect
Val-d'Or Mining is currently planning a Time Domain Electromagnetic (TDEM) survey on its Rivière Lois Cu-Zn-Ag Prospect (see Figure 1: Prospect Location Map). The program is intended to follow-up on anomalous copper and zinc values intersected by drilling during a program completed by Golden Valley Mines in 2004. The drill hole tested a 3-4 channel MEGATEM II anomaly with an offsetting moderate induced polarization (IP) anomaly.
Glenn J. Mullan P.Geo. is the Qualified Person (as that term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) who approved the technical disclosures included in this news release.
About Val-d'Or Mining Corporation
Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments and commodities (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in the early-stages of exploration. The mineral interests are broad and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners to conduct more advanced exploration on the projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@goldenvalleymines.com
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68539
