VAL-D’OR MINING CORPORATION ANNOUNCES THE START OF ITS 2020 FIELD EXPLORATION SEASON
July 15, 2020
Val-d’Or, Québec, July 15, 2020 — Val-d’Or Mining Corporation (“Val-d’Or Mining” or the “Company) is pleased to announce the start of its 2020 exploration fieldwork season. The first of several programs is scheduled to commence next week on the Company’s 100% owned Oregon Prospect. The primary metallogenic target at the Oregon Prospect is an intrusive-hosted, bulk tonnage gold deposit.
With the 2020 exploration program, Val-d’Or Mining is following up on its initial 2018 exploration program, which included line cutting, magnetic and induced polarization ground geophysical surveys. This follow-up program will consist of prospecting, geological mapping and sampling. The primary objective is to resolve targets for surface stripping and drill testing for a second program later this year.
The Oregon Prospect covers an elongated granodiorite intrusion that dips to the northeast and lies along a northwest southeast axis. The granodiorite part of the property hosts the historic Oregon Showing (Corps Minéralisé 32/C05-0011. MRNF SIGEOM), which was discovered in 1935 (GM 66328). This mineral occurrence is located within a fracture zone that hosts a series of parallel quartz stringers mineralized with pyrite. It has been traced out by previous exploration programs over a strike length of 120 metres.
Encouraging results were reported from several historic exploration programs, including:
- In 1980, a 60.4 metre vertical hole (DDH 80-7) was drilled into the showing. This drill hole encountered a 0.4 metre intersection of bleached rock that carried 0.10 opt of gold (GM 36410).
- In 1985, a sample was taken from a 3 foot long channel sample within the Oregon Showing area, and assay results of 1.980 opt of gold were reported (GM 42404).
- Approximately 1.6 kilometres to the northwest there are a series of historic trenches within the granodiorite intrusion. Grab samples of fly rock taken in 1985 returned gold values of 2.15 opt and 0.423 opt (GM 42404). A sample of blast rock from one of these trenches was collected later on by Golden Valley Mines in 2011. This grab sample of altered granodiorite with trace pyrite carried 2.64 g/t of gold (GM 66328).
In 2010 and 2011, Golden Valley Mines conducted a prospecting and sampling program over the historic Oregon Showing pit. A sample of granodiorite blast rock containing quartz and trace pyrite carried 5.76 g/t of gold. A grab sample from the adjacent granodiorite outcrop that contained rusty quartz with up to 4% pyrite and returned an assay value of 20.4 g/t of gold. In 2014, channel sample 423312 was cut into a quartz vein located approximately 75 metres west of the Oregon Showing. The 0.80 metre long sample carried 1.85 g/t of gold. Other channel samples cut into the granodiorite surrounding the Oregon Showing were anomalous in gold with the highest assayed gold value being 6.19 g/t Au.
Glenn J. Mullan P.Geo., the President and Chief Executive officer of Val-d’Or Mining is the Qualified Person (as that term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) who approved the technical disclosures included in this news release.
About Val-d’Or Mining Corporation
Val-d’Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its mineral property assets (“Prospect Generation”), most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec. To complement its current mineral property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments and mineral commodities (Ni-Cu-PGE’s).
The mineral interests are broad and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners to conduct more advanced exploration.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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