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TSX.V : VMI
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| | Tue Jan 9, 2007
Vault Commences Drilling Kirkland North
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| | Kirkland Lake, Ontario. Vault Minerals Inc. (TSX-V: VMI) ("Vault" or "the Company") announces the commencement of an initial diamond drill program on its recently-acquired Marion-Boyce property. This property is contiguous with, and now forms part of, Vault's expanded Kirkland North gold property that is situated within the prolific Kirkland Lake Gold Camp, Ontario (> 24 M oz Au produced).
Recent investigations of surface rock exposures and review of drill logs on limited historic diamond drilling reveal that gold occurs in at least two distinct host environments. The first type is characterized by cataclastic, blue-grey quartz veins similar to 'Main Break' deposits as exhibited by both the Boyce and Marion veins (ie 0.458 oz Au/ton over 3.3 ft and 0.498 oz Au/ton over 1.1 ft). The second style of gold mineralization is hosted in strongly sheared Temiskaming Sediments with quartz-ankerite veining, sericite alteration, and disseminated sulfides (ie 0.74 oz Au/ton over 4 ft).
The 6-hole program will target both styles of gold environments in two different areas of the property and is designed to obtain, in addition to gold tenure continuity, geometry on identified structures and veins for future drill planning.
Percy Lake
Vault completed a 1,500 m drill program on its Percy Lake VMS property during December 2006 and anticipates reporting results and future plans for the project in coming weeks. Based on preliminary encouraging results and historical airborne and ground geophysical data, Vault has recently doubled its land position through ground staking.
The technical content of this press release has been reviewed and approved for disclosure by Daniel McCormack, 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 junior exploration company engaged in gold and base metal exploration in Ontario. Its current property portfolio includes the Kirkland Lake Gold and Lebel Gold properties in Kirkland Lake and the Percy Lake VMS base metal property north of Sault Ste. Marie. The Company's capital consists of 26,176,093 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 these 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: Wed Jan 24, 2007, Vault Confirms VMS Exploration Model at Percy Lake and Prepares for Phase II Drill Program
You can view the Previous Press Releases item: Wed Dec 13, 2006, Vault Intersects More Gold At Lebel
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