Vior and Ethos Define Multiple New Drill Targets at the Ligneris Gold Project, Abitibi, Quebec - Prepare For a Minimum 6,000m Fall 2019 Drill Program
Ligneris lies within the prolific Abitibi Greenstone Belt and has a major hydrothermal footprint identified by two main zones of approximately 200 to 300 meters thick and more than 1.8 kilometers long, suggesting a large and deep seated mineralized system. The Property is also transected by a 3-km wide fault zone comparable to other major faults in the Abitibi that host multimillion-ounce gold deposits. The mineralization at Ligneris is interpreted as an Archean-age, gold rich VMS system, geologically analogous to Agnico Eagle’s flagship Bousquet/LaRonde complex located 80 km south (approximately 9 million oz production since 1988 plus current reserves, as reported on Agnico Eagle web site). Highlights include:
- Previous work by Vior (1985-1986), Placer Dome (1987-1990) and Barrick (1997) included 204 drill holes (approximately 40,000 meters) mostly clustered around identified mineralized zones (the North, Central and South Zones) on the project.
- 75 of these 204 holes crosscut significant gold and/or zinc intercepts. Historical drill intercepts included 10.6 m @ 13.5 g/t Au and 2.9 m @ 62.0 g/t Au in the South Zone, and 1.45 m @ 216 g/t Ag and 2.79% Zn in the Central Zone (see Vior June 27, 2019 news release).
- Only 7 holes reached over 300 meters in depth. In comparison current exploration at LaRonde extends to approximately 3,500 meters depth.
- Previous Ligneris drilling was done without the benefit of modern, deeper penetrating geophysics. In late 2018, Vior completed a 717 line-km helicopter-borne VTEM geophysical survey (see Vior February 28, 2019 news release) and Vior and Ethos have now completed a 125 line-km gradient induced polarization (Gradient IP) geophysical survey.
- The recent Gradient IP survey was carried out by Abitibi Géophysique, and 3D inversion processing of the data by MB Géosolution has outlined significant new chargeability anomalies in the lateral and depth extensions of the existing mineralized zones.
- Specifically this 3D inversion processing of the Gradient IP data indicates a significant increase of the chargeability to a depth of 450 meters that appears correlated to some historic shallow gold intersections (see example in Figure 1 below). These new deep chargeability anomalies represent first priority drill targets.
- Some of the target areas generated by the Gradient-IP survey cover a strike of over one kilometer.
- A new structural study at Ligneris has also recently been completed by Vior and Ethos including a comprehensive field structural mapping program.
- InnovExplo, a Val-d’Or based consulting firm were retained to incorporate all of the historic and current exploration work into a comprehensive GIS database.
- InnovExplo then utilized Leapfrog-3D software to model and correlate all historic and recent data into a three dimensional model to generate drill targets.
- Based on this analysis InnovExplo have recommended 27 core holes to test approximately 13 separate target zones, including 11 “Priority 1” (or “P1”) holes.
- The Gradient IP survey has also defined several new shallower depth chargeability targets spread over a 7-kilometer strike length in the rhyodacitic and andesitic volcanic rock package on the property, some of which are in the lateral extensions of known mineralization associated to strong alteration zones in ankerite and sericite. These new combined geological and geophysical targets have not previously been drill-tested.
- A survey totaling 27 glacial till samples, conducted in early summer 2019 by IOS Services Géoscientifiques, returned standardized counts on 10-kg samples ranging from 101 to 610 gold grains down-ice from the South and Central zones. This survey has defined a new drill target area located in the western extension of the Central Zone, which corresponds to a Gradient IP chargeability target and a 118-gold grain count in the down-ice direction.
Vior and Ethos are currently refining their drill hole targets in preparation for a minimum 6,000 meter drill program to begin at the end of October 2019.
The section below illustrates a deeper chargeability target correlated to nearer surface gold mineralization:
Figure 1. Proposed DDH017: https://www.globenewswire.com/NewsRoom/AttachmentNg/e36ca58e-64a6-4557-a894-46ad9c0ee227
Previous drilling on this section tested the top 300 meters and intercepted multiple intervals of gold mineralization, including some significant higher-grade intervals (see Figure 1). Proposed hole 017 will test a strong chargeability anomaly identified in the recent gradient IP survey below this gold mineralization.
Expansion of the Ligneris Property
Based on the Ligneris work program to date, Ethos and Vior have been granted or have applied for an additional 57 claims (27.7 km2) covering additional areas now considered prospective for further target development. If all these additional claims are granted the Ligneris project area will have increased from 94 claims covering 36.2 km2 to 151 claims covering 63.9 km2.
Work at Ligneris is being supervised by Marc L'Heureux, P.Geo., M.A.Sc., Vior’s VP Exploration whose experience includes approximately five years working in the Bousquet-LaRonde complex. Stated Mr. L’Heureux: “the new Gradient IP survey processed in combination with the historical geochemical, geological and geophysical data represents a valuable tool for detecting massive and disseminated gold-rich mineralization of volcanogenic type as found in the Bousquet-LaRonde camp. We are looking forward to commencing drilling at the end of October to test the multiple targets that have been defined by this work”.
Stated Mark Fedosiewich, President and CEO of Vior: “We are excited to be working towards commencing a significant drill program to test these high priority targets. We have benefited greatly from the substantial historic work including over 200 drill holes, from extensive modern geophysical surveys, from the expertise of InnovExplo in consolidating and analysing all the data, and from the experience of our team in exploring these types of targets and in operating in the Abitibi region of Quebec. Ligneris has excellent access and we are working in a prolific world renowned gold mining region with highly experienced exploration and mine development personnel and excellent support infrastructure. We will report when drilling begins and when drill results become available.”
Ligneris Option Agreement
Ethos can earn a 51% interest in the Ligneris Project by paying Vior 1.0 million in Ethos shares and incurring $3.0 million in expenditures over the first four years of the agreement. Following an earn-in to 51%, Ethos will have 60 days to elect to earn a further 19% interest (to a total 70% interest) by spending an additional $4 million over the subsequent three years.
Marc L’Heureux, P.Geo., M.A.Sc., VP Exploration of the Company and a Qualified Person as defined under National Instrument 43-101 has reviewed and approved this release. The technical content disclosed in this press release was also reviewed and approved by Jo Price, P.Geo., M.Sc., who is Ethos’ Qualified Person as per NI 43-101.
Vior is a junior mining exploration company based in Quebec whose corporate strategy is to generate, explore, and develop high quality projects in proven and favourable mining jurisdictions in North America. Their projects and investments are currently located in top ranked Quebec (#4) and Nevada (#1). Through the years, Vior’s management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.
For further information, please contact:
|Mark Fedosiewich||Marc L’Heureux|
|President and CEO||Vice-president, Exploration|
|Tel.: 613-898-5052||Tel.: 450-646-1790|
SEDAR: Société d’exploration minière Vior Inc.
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