Val-d'Or, Quebec--(Newsfile Corp. - July 7, 2022) - Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-d'Or Mining" or the "Company") is pleased to announce that its 2022 exploration fieldwork season is now underway. The initial ground focus will be on two (2) of the Company's 100%-owned, Québec-based Abitibi Greenstone Belt precious metals (gold-silver) and critical / strategic (copper-zinc) minerals prospects.
The objectives of the field-based programs are to follow-up on previous defined induced polarization ("IP") anomalies, and/or drilling results, with the objective of delineating new coincidental geochemical targets for follow-up ground fieldwork, including drilling, if warranted.
The Company allocated a total budget of $84,000 for this program. The two (2) properties are:
Pascalis Cu-Zn - Val-d'Or Mining Camp - Copper, Zinc, Silver
Pascalis Ouest - Val-d'Or Mining Camp - Gold; Copper, Zinc, Silver
The recently completed soil sampling program consisted of series of detailed ground geochemical sampling (soil-B-Horizon) survey lines, selected based on sample media constraints according to the local surficial geology.
On the Pascalis Cu-Zn Prospect, a total of 244 samples were collected over 15 individual sample lines. Previous diamond drilling on the property by Golden Valley Mines and Royalties Ltd. intersected anomalous copper (3020 ppm Cu) and zinc (2010 ppm Zn) over a downhole core intersection of 1.55 metres, hosted in a sericitized zone containing up to 2% disseminated pyrrhotite along the margins of a quartz-biotite dike.
On the Pascalis Ouest Prospect, a total of 87 samples were collected over 7 individual sample lines.
The Company will report in more detail about each of these properties once the results have been received and compiled during the course of the summer fieldwork season.
The Pascalis Cu-Zn and Pascalis Ouest prospects are located in northwestern Québec, approximately 34 kilometres east-north-east of Val-d'Or, Québec (NTS map sheet 32C/03).
The properties are inferred to be underlain by intermediate to felsic volcanics from the Val-d'Or Formation, the upper formation of the Louvicourt Group of the Archean Abitibi Greenstone Belt. It overlays the Malartic Group which is composed mainly of mafic to ultramafic units and is overlaying tholeiitic rocks from the Heva Formation which is the upper formation of the Louvicourt Group. The Bevcon Batholith is thought to represent the magma chamber (origin) of the Val-d'Or Formation in the area. The regional stratigraphy is east - west, dips to north. Tops were determined to be to the south and so the entire sequence forms the south limb of the La Motte - Vassan Anticlinorium (Imreh, 1984).
The Val-d'Or Formation is mostly composed of intermediate to felsic volcanic rocks of calcalkaline affinity. Some tuffaceous units along with intermediate to felsic intrusives are reported. A north-northeast trending diabase dike occurs some 400 metres west of the western limit of the Pascalis Cu-Zn Prospect.
On the Pascalis Cu-Zn Prospect, some semi-massive to massive sulphide lenses occur on the eastern part of the property on lots 69 & 70, Range I, Pascalis Township. The sulphide lenses are associated with sheared felsic lavas and tuffs near the contact with andesitic lava.
The Geoffroy Deposit (32C03-0009) is 100 to 200 metres from the western boundary of the Pascalis Cu-Zn property, in Lot 54, Range I, Pascalis Township. At the end of the 1980s, Aur Resources and Rogi Exploration drilled over 14,000 feet (4,267 m) on their Obaska Property, containing the Geoffrey Deposit. Metre-scale sulphide lenses associated withchlorite-sericite schist (shear) affecting andesitic units. The mineralization package is reported to be 120 metres thick. Intercepts as high as 9.95% Zn and 9.25% Cu over 2.1 feet (0.64 m) were encountered in the area of the Geoffroy Deposit (or Pond Zone).
The most important volcanogenic massive sulfide ("VMS") deposits discovered to date within the Val-d'Or Formation are the Louvem, Manitou, Louvicourt, Dunraine and East-Sullivan mines.
The Pascalis Cu-Zn and Pascalis Ouest prospects are available for Option / Joint Venture opportunities.
Dr. Scott Jobin-Bevans, (PhD, PMP, P.Geo.), Vice-President, Exploration for the Company, is a Qualified Person pursuant to National Instrument 43-101 and has reviewed and approved of the technical content of this news release as it relates to the properties.
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 Québec. 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-PGEs).
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 with the financial capacity to conduct more advanced exploration projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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