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TSX.V : VMI
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| | Thu Nov 9, 2006
Vault Commences Drilling on Percy Lake VMS
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| | Kirkland Lake, Ontario. Vault Minerals Inc. (TSX-V: VMI) ("Vault" or "the Company") has commenced a 1,500m diamond drill program on its road-accessible Percy Lake VMS property, located in the Batchawana greenstone belt north of Sault Ste. Marie, Ontario. This initial drilling is designed to test 15 high-priority targets that are considered highly prospective for volcanogenic massive sulphide (VMS) base metal mineralization.
The property encompasses a prominent 7 km2 zinc-cadmium-copper lake sediment anomaly previously identified by the Ontario Geological Survey. Subsequent field programs by previous operators included geological mapping & prospecting, MMI soil sampling and ground geophysical surveys (HLEM & magnetic). These efforts resulted in the discovery of a surface base metal surface showing and the identification and delineation of numerous, coincident geochemical and geophysical anomalies in areas of favorable stratigraphy, however these targets remain untested by drilling.
In August 2006, the Company conducted a field program consisting of infill MMI soil sampling, the collection of rock samples for whole-rock analysis, and focused surface mapping. The interpreted results confirmed, further refined and prioritized the target areas for the current drill program. Two additional base metal surface showings were also discovered proximal to identified anomalies and favorable lithology hosting VMS-style alteration.
The technical content of this press release has been reviewed and approved for disclosure by Patrick Lengyel, P.Geo who serves as Qualified Person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
About Vault
Vault Minerals Inc. is a Canadian exploration company engaged in gold, base metal, and diamond exploration in Ontario. Its current property portfolio includes the Kirkland Lake Gold and Lebel Gold properties in Kirkland Lake, the Percy Lake VMS base metal property north of Sault Ste. Marie and the Attawapiskat Diamond property in the James Bay Lowlands. The Company's capital consists of 26,126,093 issued and outstanding common shares which are listed for trading on the TSX Venture Exchange under the symbol 'VMI'.
On behalf of the Board of
VAULT MINERALS INC.
"Joe Horne"
Joseph D. Horne
President & CEO
For additional information, please visit our website at www.vaultminerals.com or contact Joe Horne, President, or Dan McCormack, P.Geo, Vice President at (705) 567 4511.
This Press Release may contain forward-looking statements that involve inherent risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations, and the Company disclaims any obligation to update forward-looking statements.
"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release." |
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| | You can view the Next Press Releases item: Mon Dec 11, 2006, Vault Acquires More Ground in Kirkland Lake
You can view the Previous Press Releases item: Tue Oct 10, 2006, Vault Minerals Announces Closing of Private Placement
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