/NOT FOR DISSEMINATION IN THE
UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES/
TORONTO,
Feb. 11, 2013 /CNW/ - Viking Gold
Exploration Inc. (TSX-V: VGC), the "Company", is pleased to
announce the completion of its Guyenne winter drill program.
The Guyenne Project (hereafter the "Property")
is located in the Abitibi Region of Quebec, 35 kilometres northwest of the town of
Amos and 95 kilometres northwest
of the town of Val d'Or. The
Property, which consists of 7 contiguous claims with a total
surface area of 7 square kilometres, is under option from Globex
Mining Enterprises Inc. (TSX: GMX) as per Viking Gold's press
release dated September 4, 2012.
Based on the results from previous exploration
programs, a general region of interest was first defined and
covered with line cutting and geophysical surveys. In the fall of
2012, the northern part of the Property was mapped and prospected
in detail. The exposed geology is composed of a gabbro/basalt
assemblage, cut by several diorite and felsic dykes.
Occasional centimetric to metric shear zones are present. The
general geological trend is ESE-WNW. Samples collected during
the mapping did not return significant Au values.
The drill program, completed in December 2012, was aimed at four target areas
defined from the 2012 geophysical surveys and the results from past
exploration. The program consisted of thirteen holes for a
total of 1515 metres of drilling.
Target Area #1 is located in the north-central
part of the Property, in the vicinity of several historical drill
holes, including N-4 that intersected mineralization with assay
values of 5.878g/t Au over 6.18 metres. Eight holes (GP-12-01 to
04, GP-12-10 to 13) were drilled in this target area to confirm the
historical Au results and to define the geology and the trend of
the mineralized zones. All the drill holes intersected
altered zones of interest taking place in the gabbro/basalt
sequence, at or near the contact with quartz-feldspar porphyry
dykes (QFP).
The most significant assay results
obtained from Target Area #1 were as follows: |
GP-12-01: |
|
- from 13.0 to 14.0m: |
|
1.36 g/t Au / 1m |
|
|
- from 82.0 to 83.0m: |
|
2.16 g/t Au / 1m |
GP-12-04: |
|
- from 32.0 to 35.0m: |
|
5.27 g/t Au / 3m, including 27.23 g/t Au /
0.5m |
GP-12-10: |
|
- from 52.0 to 53.0m: |
|
11.3 g/t Au / 1m |
|
|
- from 73.0 to 74.0m: |
|
13.36 g/t Au / 1m |
|
|
- from 79.0 to 80.12m: |
|
1.29 g/t Au / 1.12m |
|
|
|
|
|
Target Area #2 is located in the northwest part
of the Property, near the isolated historical drill hole N-5 that
returned assay values of 4.25g/t Au over 1.40m and 9.94g/t Au over
0.27m. Three holes were drilled in this area (GP-12-05 to 07), two
at 25 metres on each side of N-5, and one underneath. The
three holes intersected a fault at depth; the hanging wall rock
consisted of an alternating sequence of basalt and tuff, felsic
intrusive, and strongly metasomatized and altered rocks.
The most significant assay results obtained from
Target Area #2 were as follows: |
GP-12-05: |
|
- from 93.0 to 94.0m: |
|
1.35 g/t Au / 1.0m |
|
|
- from 101.0 to 102.0m: |
|
1.61 g/t Au / 1.0m |
|
|
- from 124.0 to 125.0m: |
|
0.98 g/t Au / 1.0m |
GP-12-06: |
|
- from 29.3 to 30.35m: |
|
1.58 g/t Au / 1.05m |
|
|
- from 72.4 to 75.0m: |
|
2.61 g/t Au / 2.6m, including 8.25 g/t Au /
0.6m |
|
|
- from 79.0 to 80.0m: |
|
3.29 g/t Au / 1.0m |
|
|
- from 89.0 to 90.0m: |
|
2.19 g/t Au / 1.0m |
GP-12-07: |
|
- from 19.0 to 20.0m: |
|
0.47 g/t Au / 1.0m |
|
|
|
|
|
Target Areas #3 and #4 are both located in the
southern part of the Property. Drill holes GP-12-08 (#3) and
GP-12-09 (#4) were completed to verify IP anomalies as well as Au
mineralization intersected in isolated historical holes located
nearby (9.8 g/t Au over 1.5 metres and 6.2 g/t Au over 0.6 metres
respectively). No significant Au values were intersected by
drill holes GP-12-08 and -09.
The Company's geological team is reviewing all
data before initiating a further exploration program.
In December 2012,
the Company also completed a limited, seven-hole drill program on
its Verneuil West claims that returned no significant results.
Pierre Poisson,
P.Geo., an independent "Qualified Person" as that term is defined
in National Instrument 43-101, has reviewed and approved the
technical disclosure in this news release.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
This press release contains forward-looking
statements. All statements, other than of historical fact, that
address activities, events or developments that the Company
believes, expects or anticipates will or may occur in the future
(including, without limitation, statements regarding the estimation
of mineral resources, exploration results, potential
mineralization, potential mineral resources and mineral reserves)
are forward-looking statements. Forward-looking statements are
often identifiable by the use of words such as "anticipate",
"believe", "plan", may", "could", "would", "might" or "will",
"estimates", "expect", "intend", "budget", "scheduled", "forecasts"
and similar expressions or variations (including negative
variations) of such words and phrases. Forward-looking statements
are subject to a number of risks and uncertainties and other
factors that may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things, without limitation, failure to
establish estimated mineral resources, the possibility that future
exploration results will not be consistent with the Company's
expectations, the price of commodities and other risks identified
in the Company's documents filed with the Canadian securities
regulatory authorities on SEDAR.com. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking
statement.
SOURCE Viking Gold Exploration Inc.