Regional Geology Setting - Vault Properties
Kirkland
Kirkland North
Lebel
Gauthier
Goldbanks
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 17.1 gAu/t.
- The property is located less than 2 km east of Kirkland Lake Gold and Queenston New South Mine Complex ('NSMC') deposit and discoveries. According to a Kirkland Lake Gold July 15/09 press release, the NSMC contains 696,000 ounces in proven / probable categories at a grade of 25.4 gAu/t (0.74 ozAu/t), 347,000 contained ounces in measured / indicated resources at a grade of 21.9 gAu/t (0.64 ozAu/t), and 667,000 contained ounces in measured / indicated resources at a grade of 30.5 gAu/t (0.89 ozAu/t).
- In the past Kirkland Lake Gold has announced drillhole intercepts testing the NSMC of 78.8 gAu/t over 27.5 m (uncut), 49.0 gAu/t over 37.9 m (uncut), and 190.9 gAu/t over 15.2 m (uncut).
- 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 gAu/t gold over 0.46 metres
- 183 gAu/t gold over 0.46 metres
- 91 gAu/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 gAu/t gold in selected grab samples at two areas within the tunnel.
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.
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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