Kirkland
Kirkland North
Lebel
Gordon-Lebel
TSX.V : VMI
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Highlights
- The property lies immediately south of the historic Lake Shore and Wright-Hargreaves gold mines which collectively produced over 13 million ounces of gold at a mining grade of 0.50 oz/ton.
- A 2005-2006 diamond drill campaign by Vault intersected multiple anomalous gold structures validating the Company's exploration model that parallel and sub parallel gold zones exist to the south of the 'Main Break'.
- Some historic (1932 to 1962) underground diamond drillholes intersected identified zones of alteration, quartz veining, 'breaks' (faults) and gold & molybdenum. Highlights of the diamond drill intersections (uncut) situated between 2060 and 2150 metres below surface include:
- 413 g/t gold over 0.46 metres
- 183 g/t gold over 0.46 metres
- 91 g/t gold over 0.61 metres
- A storm-sewer drainage tunnel, completed in the 1930's and which traverses the extent of the property at a depth of about 18 m below surface, has reported gold values of 19.5 and 82.2 g/t gold in selected grab samples at two areas within the tunnel.
- Vault is encouraged by the implications of significant gold discoveries made by Kirkland Lake Gold Inc. in zones that are found south of the 'Main Break' on which they announced drill hole intercepts of 2.3 oz/ton gold over 90.4 feet (uncut), 1.43 oz/ton gold over 124.5 feet (uncut), 5.57 oz/ton gold over 50 feet (uncut), and 344.4 oz/ton gold over 1 feet (uncut).
Access & Property Size
- The property is situated in the Town of Kirkland Lake that has a strong infrastructure and that supports mining and exploration with an operating gold mill located at Kirkland Lake Gold's Macassa Mine Site.
- The property is 80 hectares in size.
Geology
- Located in the Abitibi greenstone belt comprised of Kinojevis volcanogenic basement assemblages, with overlying Timiskaming interbedded volcanic & sedimentary assemblages.
- Late intrusive events intrude the volcanic and sedimentary assemblages.
- Gold deposition is typically vein-type emplacement in fault & fracture zones, with the exception of the discoveries by Kirkland Lake Gold Inc. to the south that are structurallycontrolled sulphide zones.
Exploration & Development Plans
- Vault is reviewing alternatives to drill test mineralized structures as indicated in the 2005-2006 drilling and from historic underground information.
The technical content of this web page has been reviewed and approved by Dan McCormack, P.Geo., Vault's Vice President and 'Qualified Person' in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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