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Visible Gold Mines Inc. (VGD:CA)
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Web site:
http://www.visiblegoldmines.com/
GOING FOR GOLD IN NORTHWEST QUEBEC
VGD Senior Geologist Robert Sansfacon
GOING FOR GOLD IN NORTHWEST QUEBEC
Our Focus
Visible Gold Mines (TSX.V: VGD) is focused exclusively on northwest Quebec, one of the world’s friendliest and prolific mining jurisdictions. With at least 40,000 metres of drilling in 2011, including 20,000 metres over the final four months of the year, VGD is aggressively searching for the region’s next major gold discovery and is one of the most active exploration companies in the area.
Visible Gold Mines, which began trading on the TSX Venture Exchange in 2007, has the focus, experience, commitment and resources necessary to rapidly emerge as a leader in the vibrant Quebec gold sector and build shareholder wealth in the process.
Our Team
Visible Gold Mines is based in the famous mining community of Rouyn-Noranda and is led by a strong business and geological team. President and CEO Martin Dallaire has more than a decade of successful experience in the financial industry with a particular emphasis on the junior mining sector. His areas of expertise include strategic planning, sourcing and structuring of financings, due diligence reviews, mergers and acquisitions. He obtained an Engineering degree from the University of Quebec at Chicoutimi and has assembled one of the largest exploration teams in the Rouyn-Noranda area. Visible Gold Mines’ Senior Geologist is Robert Sansfacon who was involved in the discovery of Osisko Mining’s massive Canadian Malartic deposit. Sansfacon was a project manager for many years with Lac Minerals.
Our Properties
Visible Gold Mines controls a growing and highly prospective land position of more than 20,000 hectares in northwest Quebec. Key projects are Joutel, Lucky Break (including Wasa Creek and Wasa East Properties), Stadacona-East and Silidor.
The Wasa Creek and Wasa East Properties form part of the large Lucky Break optioned project and are in the immediate vicinity of Richmont Mines’ growing Wasamac deposit which is 15 kilometres west of Rouyn-Noranda. The Cadillac Fault, spacially related to numerous major gold deposits in the prolific Abitibi Greenstone Belt, runs underneath the middle of the Wasa Creek Property. Very little historical work has been undertaken at Wasa Creek and Wasa East but the company believes both properties offer strong discovery potential. As of mid-September, 13 holes and 8,800 metres of drilling have been completed in a highly encouraging Phase 1 drill program at Wasa Creek.
The company is eagerly anticipating assay results for an additional 12 holes after the very first hole drilled at Wasa Creek (LBWC-11-03) cut four distinct zones of gold mineralization as announced August 11, 2011.
Joutel, located 150 kilometres north of Rouyn-Noranda, is a former gold/silver producer that gave birth to Agnico-Eagle Mines Limited in the early 1970’s. Visible Gold Mines has commenced a 7,500-metre, Phase 1 drill program at the Joutel Extension Property which will test for potential undiscovered deposits to the southeast of Agnico-Eagle’s three past producing mines (Telbel, Eagle and Eagle West). The total Joutel land package stretches 25 kilometres west to east.
The Stadacona-East Property covers an area of 14 square kilometres in the centre of Rouyn Township, near the famous past producing Horne Mine, and has a NI-43-101 inferred resource of 163,800 ounces (980,000 tonnes grading 5.19 g/t Au at a cut-off grade of 2.5 g/t Au). A 10-hole drill program at Stadacona-East during the third quarter of 2011 will focus on the unexplored potential of the northeastern section of the property.
Visible Gold Mines continues to evaluate its Silidor Property, four kilometers west of Rouyn-Noranda, where a 28-hole, 8,000 metre Phase 1 drill program earlier this year yielded encouraging results including 8.30 g/t Au over 2.30 metres in SL-11-27 and 2.20 g/t Au over 13.50 metres in SL-11-28.
Visible Gold Mines also holds promising grass roots properties in its northwest Quebec land package.
Our Share Structure
Visible Gold Mines has 47,451,179 shares outstanding (September 12). Insiders and associates hold approximately 6 million shares while funds control approximately 15 million shares. Fully diluted, there are 70.1 million shares outstanding. The company has cash liquidity of $4.2 million as of September 12.
Links:
VGD:CA
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