Val-d’Or Mining Corporation – Oregon Gold Prospect – 2020 Prospecting and Mapping Program – Final Results
September 3, 2020
Val-d’Or, Québec – September 3, 2020 — Val-d’Or Mining Corporation (“Val-d’Or Mining” or the “Company”) announces the completion of the 2020 prospecting and mapping program on its 100%-owned Oregon Gold Prospect. Assay results from the second and final batch of thirty-three (33) rock grab samples are further described below.
The results of this program have confirmed the Company’s model of an intrusive-hosted, bulk tonnage gold deposit. Observations indicate that a series of cross-cutting, structurally controlled high-grade zones are surrounded by a halo of lower grade mineralized host rock (granodiorite) material.
The granodiorite host rock has been documented to be approximately 100-150 metres wide and extends over a distance of more than 2,000 metres. Gold-bearing rock samples have now been encountered at exposed sections from the north-western end (NW showing, see results further below) all the way along to the south-eastern end (newly discovered SE showing, see results from sample X369278 - news release dated August 13, 2020). The highest-grade sample (sample 369310, grading 54.8 g/t gold) was collected at the Oregon showing (see results further below), which is located about 400 metres north-west of the south-eastern end of the granodiorite host rock.
Furthermore, the results indicate that anomalous mineralization occurs along a series of E-W shear zones that transect (splays – conjugate faulting) the predominate NW-SE regional deformation. These splay faults have been demonstrated to be favourable for their potential to host economic gold deposits in the Abitibi Greenstone Belt.
A follow-up program of selective overburden stripping, bedrock cleaning and detailed geological / structural mapping is planned over the known mineralized gold showings and other prospective geological targets, as the Company prepares for its upcoming maiden drill campaign on the property.
Oregon Gold Showing: Selective Historic Pit and Trench Sampling Results
A preliminary geological / structural mapping and selective sampling program to characterize the nature and control of the gold mineralization at the Oregon Showing was completed. A total of 11 rock grab samples were collected along a series of historic pits and trenches exposed in outcrop over an area 30-35 metres east-west by1-5 metres north-south.
Mineralization occurs within fracture zones that host a series of parallel quartz stringers mineralized with coarse-grained cubic pyrite. The granodiorite hostrock is variably bleached with occasional hematite, limonite, and chlorite alteration and rusty zones, hosting disseminated pyrite. Visible gold (VG) was observed in a number of samples submitted for analysis.
The assay results and sample descriptions from 11 selective rock grab samples from the historical trenches are as follows:
| Sample No. | Easting(+/- 6m) | Northing(+/- 6m) | Rock Description | Site Description | Py | Au ppm* |
|---|---|---|---|---|---|---|
| X369301 | 301961 | 5371740 | Rusty/bleached wallrock (granodiorite) with cg Py and sub-mm-scale VG. Occasional Py grains have rusted faces/rims and few are rusted out completely. This sample is highly altered wallrock that is adjacent to the following Qzt Vn sample (X369302). | Pit 1 | 7-10% | 1.72 |
| X369302 | 301961 | 5371740 | Rusty Qtz Vn with bleached/chl. alt., Qtz-rich granodiorite with mg and cg Py and possible VG. | Pit 1 | 3-5% | 0.81 |
| X369303 | 301966 | 5371739 | Rusty Qtz Vn with bleached wallrock (Qtz-rich granodiorite) with cg Py and mm-scale VG (flake). Occasional Py grains have rusted faces/rims. Possible extension of Pit 1 zone. | East Extension | 3-5% | 3.38 |
| X369304 | 301966 | 5371739 | Rusty/bleached/chl. alteration wallrock (Qtz-rich granodiorite) with cg Py and mm-scale VG. Occasional Py grains have rusted faces/rims and few have rusted out completely. Possible extension of Pit 1 zone. This sample is highly altered wallrock that is adjacent to the previous Qtz Vn sample (X369303). | East Extension | 7-10% | 0.62 |
| X369305 | 301969 | 5371739 | Rusty Qtz Vn with minimal rusted/bleached/chl. alteration wallrock. Fg, mg and cg Py with possible VG. Py typically has rusted faces/rims. Possible extension of Pit 1 (and East Ext.) zone. | East Extension 1 | 3-5% | 0.06 |
| X369306 | 301969 | 5371739 | Rusty/bleached wallrock (Qtz-rich granodiorite) with cg Py and mm-scale VG. Occasional Py grained have rusted faces/rims and few have rusted out completely. Possible extension of Pit 1 (and East Ext.) zone. This sample is the highly altered wallrock that is adjacent to the previous Qzt Vn sample (X369305). | East Extension 1 | 7-10% | 0.72 |
| X369307 | 301975 | 5371739 | Rusty Qtz Vn with highly altered wallrock. Some red staining (possible hematite) on Qtz. Some chl alt. Mg and cg Py and possible VG. Occasionally Py rusted around the rims and few Py grains have an iridescent sheen (secondary bornite?). Possible extension of Pit 1, East Ext., East Ext. 1 and East Ext. 2 zone. | East Extension 2 | 5-7% | 3.87 |
| X369308 | 301975 | 5371739 | Bleached wallrock with some rust and minimal Qtz Vn. Cg Py with occasional rusty rims and few rusted out completely (voids). | Pit 2 | 5-7% | 1.85 |
| X369309 | 301976 | 5371738 | Rusty Qtz Vn with minimal highly altered wallrock (or infilled fracture). Cg Py with several voids of rusted out Py. Some chl alteration. Very little fresh wallrock (granodiorite) at the very centre of sample. | Pit 2 | 3-5% | 0.11 |
| X369310 | 301976 | 5371738 | Bleached wallrock with some rust and minimal Qtz Vn. Cg Py with occasional rusty rims and few rusted out completely (voids). | Pit 2 | 5-7% | 54.8 |
| X369311 | 301956 | 5371741 | Surface rust. Fresh surface shows granodiorite. Most of the rock (sample) appears to have hematite staining. Cg Py, several have rust surrounding the grains. | West Extension | 7-10% | 4.21 |
* Represents Au Screen Fire Assay results. Note: Assay results verified the presence of visible gold in the course fractions of four (4) of the eleven samples.
NW Showing: Prospecting Sample Results
Twenty-two (22) prospecting and sampling rock grab samples were collected over the area of the historical NW Showing. The sampling results verified the NW Showing as a prospective gold mineralized area for further follow-up exploration work.
The highlighted assay results and sample descriptions from the NW Showing area are as follows:
| Sample No. | Easting | Northing | Rock Description | Site Description | Surface | Py | Au ppm |
|---|---|---|---|---|---|---|---|
| X369283 | 302021 | 5371673 | Granitic, sheared. | East projection of sample X369271. | Orange, altered. | 1% | 0.042 |
| X369284 | 302017 | 5371674 | North of previous sample, granitic, sheared. | Parallel rusty zone. | Orange altered. | trace | 0.074 |
| X369285 | 302161 | 5371531 | Granitic, quartz-rich, sheared. | Heavy rusty zone. | trace | 0.007 | |
| X363286 | 302244 | 5371507 | Blasted granitic rock, strongly sheared. | Trench NE of sample X369280. | Rusty. | 1-2% | 0.005 |
| X369287 | 302244 | 5371507 | Blasted granitic rock, strongly sheared. | Same trench as above. | Rusty. | 2-3% | 0.017 |
| X369288 | 302245 | 5371418 | Granitic, fine-grained, quartz-rich. Sheared. | Blast pit | Rusty. | 2-3% | 0.082 |
| X369289 | 302210 | 5371440 | Quartz-sheared granitic rock, blasted rubble. | 15m to samples X369276-277 | Rusty. | 1-2% | 0.008 |
| X369312 | 301275 | 5371940 | Greenstone. Strongly sheared. | Same outcrop as above | Weak rust. | Trace | 0.007 |
| X369313 | 301217 | 5371970 | Same as above, sheared. | Weak rust. | 1-2% | <0.005 | |
| X369314 | 301290 | 5372015 | Greenstone, strongly sheared and altered. | L2E-L3E, 250S IP anomaly. | Strong rust. | 1-2% | 0.007 |
| X369315 | 301290 | 5372015 | Same shear, greenstone sampled 0.5m north. | Same IP anomaly as above. | Strong rust. | 1% | 0.024 |
| X369316 | 301289 | 5372015 | Same shear, mafic Intrusive, further north. | Same IP anomaly as above. | Weak rust. | <0.005 | |
| X369317 | 301290 | 5372020 | Same shear, granitic. | Same IP anomaly as above. | Rusty. | 0.009 | |
| X369318 | 301278 | 5372019 | Same shear, granitic. | Same IP anomaly as above. | Rusty. | 0.019 | |
| X369319 | 301278 | 5372017 | Same shear, granitic. | Same IP anomaly as above. | <0.005 | ||
| X369290 | 300835 | 5372523 | Granitic, with | Eastern portion of NW Showing Area. | Rusty | 1-3% | 0.264 |
| narrow shears. | |||||||
| X369291 | 300800 | 5372664 | Pyritic acid volcanic, sheared. | L4W, 75N IP anomaly. | Widespread rust. | 5% | 0.011 |
| X369292 | 300655 | 5372586 | Siliceous granitic rock, strongly sheared, blasted rubble, south end of north-south trench. | Western portion of NW Showing Area. | Rusty | 2-3% | 0.486 |
| X369293 | 300658 | 5372594 | Siliceous granitic rock, strongly sheared, north end of north-south trench. | Western portion of NW Showing Area. | Rusty | 2-5% | 0.03 |
| X369294 | 300656 | 5372594 | Same location as above. Siliceous granitic breccia. Strongly sheared. | Western portion of NW Showing Area | Rusty | 2-5% | <0.005 |
| X369295 | 300758 | 5372576 | Siliceous granitic rock, strongly sheared. | Central portion of NW Showing area. | Rusty | 1-3% | 0.11 |
| Blasted outcrop. | |||||||
| X369296 | 301758 | 5372576 | Granitic, quartz veined, strongly sheared. | Central portion of NW Showing area. | Rusty | 2-3% | 0.841 |
| Same sample location as above. |
All grab samples were submitted to ALS Minerals facilities in Val-d'Or, Québec, an accredited mineral analysis laboratory. Sample preparation and gold values were determined by a 30-gram fire assay and AAS finish was completed. Gold values were determined by 30-gram fire assay with ICP finish and a screen fire assay where applicable with the presence of visible gold. The reader is referred to: www.alsgobal.com for details of analytical procedures described above.
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, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec. To complement its current 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 commodities (Ni-Cu-PGE’s).
The Company has an expertise in the identification and generation of new projects, and in the early-stages of exploration. 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 on the projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@goldenvalleymines.com
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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