Virginia Mines (TSX: VGQ) made its name, and a fortune, with its Éléonore discovery Quebec’s James Bay territory, but that doesn’t mean that it is done with the region yet.
While it still holds a hefty royalty on Éléonore after selling it to Goldcorp (TSX: G; NYSE: GG) for over $400 million back in 2006, the company’s focus now is on its Wabamisk project just 65k m to the southwest.
Recent drill results from the 527 km2 of property claims within the Eastmain Archean volcano-sedimentary belt were highlighted by 1.69 g/t Au over 13.8 metres and 1.31 g/t Au over 11.75 metres. Those results came out of two separate holes that both intersected what is known as the Mustang vein. A third hole confirmed the continuity of the Mustang vein under thick overburden with an intersection grading 18.5 g/t Au over 1.9 metres.
Read the complete story at NorthernMiner.com/news/virginia