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GOLD EXPLORATION NEWS Virginia Gold Reports Quebec Results

Virginia Gold Mines has reported results from two drilling programs on properties in the James Bay region of Quebec...


Virginia Gold Mines has reported results from two drilling programs on properties in the James Bay region of Quebec.

Assays of eight new holes drilled during last November and December tested the Orfee zone over 300 m laterally and a vertical depth from 75 m to over 250 m at the Poste Lemoyne property. Best results were returned from hole PL02-49 and confirm the continuity of the high-grade zone at depth. Assays ran 24.48 g/t Au uncut (20.98 g/t cut) over 3.82 m; 9.45 g/t over 2.0 m; and 0.95 g/t over 3.75 m. This hole intersected a second mineralized zone with values of 9.45 g/t Au over 2.0 m and 3.90 g/t Au over 3.75 m.

A new gold-bearing zone has been discovered by Virginia on its joint venture (with CAMBIOR) La Grade Sud property, also located in the James Bay region of Quebec. The zone is close to the contact with the southern edge of La Grand Sud mineralization. The area occurs in a corridor of intense deformation that is for the most part unexplored. Virginia reported an inferred mineral resource of 4.2 million tonnes at 2.1 g/t Au and 0.2% Cu for Zone 32 in March 1999. More drilling is planned, and Cambior is the project manager.

Virginia Gold has also announced that it now owns 100% of the Dieppe property adjoining the former producer Casa Berardi near Val d’Or, Que. NEWMONT sold its 75% interest for a token amount and retains a net smelter royalty.

Virginia has about two dozen properties in Quebec. A site map is available at www.virginia.qc.ca


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