Vior Inc. : Drilling to Soon Begin on the Douay Property; Appointment of A New Vice-President Exploration; Amendment to the Comp
November 03 2010 - 9:13AM
Marketwired
SOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE:
VIO)(FRANKFURT: VL5).
Drilling to soon begin on the Douay property
The Company and partner Aurvista Gold Corp. ("Aurvista") wish to
announce that an important 12,000-meter, diamond-drilling program
is slated to begin mid-November on several targets of the Douay
project. This program will be testing numerous targets, one of
which being the lateral and depth extensions of the Douay Ouest
deposit where recent calculations yielded a Measured and Indicated
Resource of 313,000 tonnes at 7.75 gram per tonne (g/T) gold, and
an additional Inferred Resource of 267,000 tonnes at 8.53 g/T gold
(press release of January 28th, 2010). Some of the drill holes at
Douay Ouest will aim at transforming categories from resources into
reserves. The drill program will also be testing near-surface
mineralized extensions of the Porphyre Zone, as well as the
unexplored sectors along the Contact Zone located at the interface
between conglomerates and syenitic intrusions. The program should
be ongoing until spring 2011. Work will be supervised by Mr. Marc
L'Heureux who is the Company's Qualified Person under National
Instrument 43-101.
Appointment of a new Vice-President Exploration
Vior announces that Mr. Marc L'Heureux has been appointed as new
Vice-President Exploration of the company. Mr. L'Heureux succeeds
to Mr. Jacquelin Gauthier, who remains with the company as special
advisor. Mr. Gauthier will also pursue other opportunities.
Mr. L'Heureux has more than 20 years of experience as a
professional geologist in exploration for gold, nickel, base metals
and diamond in North and Latin America. He has served for Cambior,
Falconbridge and Barrick up to 1997. Following that, he worked for
junior corporations such as Boreal Exploration, GlobeStar Mining,
Majescor Resources and Everton Resources. Mr. L'Heureux holds a
degree in Geology and a Master Degree in Earth Sciences (Applied
Geochemistry), which he received from the University of Quebec in
Montreal and University of Quebec in Chicoutimi, respectively. He
is also a member in good standing of the Ordre des geologues du
Quebec.
Mr. L'Heureux was granted 500,000 stock options at an exercise
price of $0.10 per stock option and their expiry date is October
31, 2020.
Mr. Claude St Jacques, president of Vior, is pleased to welcome
Mr. L'Heureux to the team. He is taking the opportunity to thank
Mr. Gauthier for the work he has accomplished during the last 18
months.
Amendment to the Stock Option Plan
The company announces that the Board of Directors has approved a
series of amendments to the company's stock option plan (the
"Plan") as to increase the number of reserved shares, which may be
issued in accordance with the Plan, to 9,467,312 representing about
10% of the current number of issued and outstanding shares, and to
update the Plan with respect to TSX Venture's new rules.
Indeed, the company has amended its Plan, among other things, to
(i) allow for granting of options valid for a 10-year period and
(ii) to extend the expiry date of stock options to 12 months
(rather than the current 90-day period) following the date where
this person is no longer eligible in virtue of the Plan, except for
people providing investor relation services where the 90-day period
remains unchanged.
Granting of 1,590,000 stock options
Vior announces the granting of 1,500,000 stock options
(including the 500,000 stock options granted to Mr. L'Heureux) to
its directors, officers, and services providers, at the exercise
price of $0.10 per share, which is the minimal price required by
the TSX Venture. Of this number, 1,500,000 have been granted to the
directors and officers of the company and 90,000 have been granted
to the services providers. These options are valid until October
31, 2020.
About Aurvista
Aurvista Gold Corporation has interests in Quebec based mining
claims and is engaged in early stage exploring as well as
developing promising gold properties in Northern Quebec.
About Vior
Vior is a growing mining company focused on developing its
properties. The company owns a 50% participating interest in the
Douay Ouest gold project and other mineral properties.
The TSX Venture Exchange (TSX Venture) does not accept
responsibility for the adequacy or accuracy of this Press
Release.
Contacts: Vior Inc. Claude St-Jacques President 418-692-2678
cstjacques@vior.ca Vior Inc. Marc L'Heureux Vice-president
Exploration 418-692-2678 mlheureux@vior.ca www.vior.ca
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