ROUYN-NORANDA, QC, Feb.10, 2015
/CNW Telbec/ -Visible Gold Mines Inc. (TSXV: VGD)
(Frankfurt: 3V4) is pleased to provide an update from the
diamond drilling program on its 167 Project. The following table
shows each hole number, its location, its status and the core
location. Furthermore, the table indicates if the core has
been logged, split and sent to the laboratory.
DDH
|
ZONE
|
LENGTH
|
STATUS
|
CORE
LOCATION
|
LOG
|
CORE SPLIT
|
ASSAYS
|
|
|
(M)
|
|
|
|
|
|
167-15-01
|
KM107
|
201
|
Completed
|
Coreshack
|
Yes
|
In
progress
|
No
|
167-15-02
|
KM107
|
201
|
Completed
|
Coreshack
|
In
progress
|
No
|
No
|
167-15-03
|
KM107
|
201
|
Completed
|
Coreshack
|
No
|
No
|
No
|
167-15-04
|
KM107
|
201
|
Completed
|
Baie-James
camp
|
No
|
No
|
No
|
167-15-05
|
KM143
|
123
|
In
progress
|
Baie-James
camp
|
No
|
No
|
No
|
"Despite the extreme weather conditions, 10% of the diamond
drilling is complete and the program is on schedule and progressing
well" stated Martin Dallaire,
president and chief executive officer of Visible Gold Mines.
The diamond drilling program is still underway by Chibougamau
Diamond Drilling Ltd. of Chibougamau, Québec.
Qualified Persons
Mr. Martin Dallaire, P.Eng.,
President and Chief Executive Officer of Visible Gold Mines, is the
qualified person on the 167 Project exploration information
presented in this press release under National Instrument 43-101
Standards of Disclosure for Mineral Projects, is also
responsible for the technical contents of this press release and
has approved the disclosure of the technical information contained
herein. The data verification was conducted by Jeannot Theberge, P.Geo. under the supervision
of Martin Dallaire, P.Eng.
About 167 Project
In 2011, when the Québec Government launched its ambitious Plan
Nord project to develop Québec's north, including the construction
of a 243 kilometre-long all-season road that links
Stornoway's Renard Diamond project
to the provincial highway network, Visible Gold Mines' management
decided to acquire the available mining rights along each side of
the new road in order to have access to new outcrops and strippings
generated by the road construction. Visible Gold Mines acquired
claims by acquisition and staking and so the 167 Project was born.
Out of the 140 kilometres of new road available for mining
exploration (the first 102 kilometres are a planned provincial
park), Visible Gold Mines owns more than 110 kilometres. The road
has been completed since October 1,
2014 at a construction cost of approximately $350 million. The 167 Project is 100% owned by
Visible Gold Mines and represents with recent acquisitions up to
61,178 hectares or 611 km2.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic corporation aggressively
searching for the next important gold deposit in the province of
Québec, an area consistently ranked as one of the world's best
jurisdictions for mining and exploration.
Forward-Looking Statements
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Visible Gold Mines, or the
assumptions underlying any of the foregoing. In this news release,
words such as "may", "would", "could", "will", "likely", "believe",
"expect", "anticipate", "intend", "plan", "estimate" and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including the development of
the 167 Project, or if any of them do so, what benefits Visible
Gold Mines will derive. Forward-looking information are based
on information available at the time and/or management's good-faith
belief with respect to future events and are subject to known or
unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond Visible Gold Mines' control.
These risks, uncertainties and assumptions include, but are not
limited to, those described under "Financial Risk Management
Objectives and Policies, and Financial Risks" in Visible Gold
Mines' Annual Report for the fiscal year ended on
July 31, 2014, a copy of which is available on SEDAR at
www.sedar.com, and could cause actual events or results to differ
materially from those projected in any forward-looking statements.
Visible Gold Mines does not intend, nor does Visible Gold Mines
undertake any obligation, to update or revise any forward-looking
information contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if
required by applicable laws.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of theTSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of the release.
SOURCE Visible Gold Mines Inc.