Science & Technology
Science and Technology
Science and Technology
Tue, October 13, 2009
VG Gold Corp.: VG Gold Welcomes New Davidson-Tisdale Partner San Gold
TORONTO, ONTARIO--(Marketwire - Oct. 13, 2009) - VG Gold Corp., (TSX:VG), (FRANKFURT:VN3), is pleased that San Gold Corporation has signed a Letter of Intent to acquire Laurion Minerals' 31.5% interest in the Davidson-Tisdale project located in Timmins, Ontario, as announced on October 8, 2009. VG Gold owns 68.5% of Davidson-Tisdale, one of four key properties that VG Gold holds in the Timmins Camp.
"VG Gold welcomes the opportunity to have San Gold as a partner. The strategic investment in VG Gold by Rob McEwen's Lexam Explorations and now San Gold's purchase of the Laurion Minerals' Davidson-Tisdale interest are statements of VG's strong asset base and exploration potential in one of the world's premier gold mining camps," stated Tom Meredith, President & CEO of VG Gold.
DAVIDSON-TISDALE PROPERTY
The Davidson-Tisdale property is a high-grade gold deposit located in the heart of the Timmins Gold Camp, where 70 million ounces of gold have been produced to date. The property is on trend between several producing and former producing gold mines. Previous drilling indicates that the Davidson-Tisdale deposit has potential for additional high grade gold mineralization.
The table below presents previously announced VG Gold drill results that intersected high-grade mineralization in the central part of the resource. These results indicate significant resource potential at Davidson-Tisdale, which remains open to depth. Neighbouring Timmins mines have been developed to depths exceeding 6000 feet.
PREVIOUS VG GOLD DRILL RESULTS
-----------------------------------------------------------
Hole Number Gold Grade Interval Gold Grade Interval
-----------------------------------------------------------
(gpt) (m) (opt) (ft)
-----------------------------------------------------------
-----------------------------------------------------------
03-310 341.1 3.4 9.95 11.2
-----------------------------------------------------------
04-318 64.18 4 1.87 13.1
-----------------------------------------------------------
04-326 30.05 8.5 0.88 27.9
-----------------------------------------------------------
Deeper drilling by VG Gold down to 275 meters (900 ft) successfully encountered encouraging gold mineralization. These holes represent some of the deepest exploration to date at Davidson-Tisdale and they demonstrate that the high-grade could extend further at depth.
PREVIOUS VG GOLD DRILL RESULTS
-----------------------------------------------------------
Hole Number Gold Grade Interval Gold Grade Interval
-----------------------------------------------------------
(gpt) (m) (opt) (ft)
-----------------------------------------------------------
-----------------------------------------------------------
05-354 17.28 2.5 0.5 8.2
-----------------------------------------------------------
05-355 12.83 7.5 0.37 24.6
-----------------------------------------------------------
ABOUT VG GOLD
VG Gold Corp. is a Canadian incorporated gold exploration company, with significant land holdings and gold resources situated in the heart of the world class Timmins Gold Camp. VG Gold's shares trade on the Toronto Stock Exchange under the symbol VG.
VG Gold has four key exploration projects in the heart of the Timmins Gold Camp adjacent to major gold mines owned by Goldcorp. The Fuller, Buffalo Ankerite and Davidson-Tisdale properties have seen successful exploration to date and have significant additional potential. The current exploration focus is on the Paymaster property, recently optioned from Goldcorp and located adjacent to the Goldcorp owned Dome Mine, which has produced 17 million oz of gold to date. VG Gold is well positioned to build shareholder value with ongoing exploration of its Timmins properties.
Details on VG Gold's resources and properties can be accessed at [ www.vggoldcorp.com ].
VG GOLD&WE ARE GOLD
QUALIFIED PERSON
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for VG Gold, who has reviewed this press release. Gold analysis of samples collected by VG Gold was assayed by Laboratoire Expert in Rouyn-Noranda, Quebec. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance Program (QA/QC) is in place, using control samples such as Blanks and Rocklabs Standards and duplicate checks. In addition, duplicate analyses of 10% of the samples were corroborated by check assays on sample performed by Bourlamaque Laboratory of Val D'Or, Quebec.
To learn more about VG Gold, (TSX:VG), (FRANKFURT:VN3), visit our website: [ www.vggoldcorp.com ].
Shares: 140,154,764
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
