ROUYN-NORANDA, QC, June 14, 2021 /CNW Telbec/ - Visible Gold
Mines Inc. (TSXV: VGD) (OTC Pink: VGMIF)
(FRANKFURT: 3V41) is pleased to announce that Prospectair
has completed a heliborne high-resolution magnetic (MAG) survey
over Visible Gold Mines' Horsefly and Doda properties located in
the Surprise Lake area, Eeyou Istchee Baie-James region, Province
of Quebec.
The survey properties are located about 40 kilometres south of
the town of Chapais and were flown
with traverse lines at 50 metres spacing and control lines spaced
every 500 metres. The Horsefly and Doda properties were flown for a
total of 1,646 line-kilometres.
Most of the surveyed area is affected by linear magnetic
features characteristic of alternating sequences of mafic volcanic
rocks with sedimentary or intermediate to felsic volcanic rocks,
with possibly some intrusive stocks or dykes locally.
Several magnetic lineaments are curved, even heavily locally,
either by folding or at the contact zone with postulated
intrusions, such as in the southwest part of the Horsefly property
and in the southern part of the Doda property. These evidences are
attesting that the area underwent strong deformation events in the
past, and that shearing may have affected some of these lineaments.
In the Horsefly block, aside from areas near the possible
intrusions to the south, most magnetic lineaments are generally
trending from ENE-WSW to ESE-WNW, with the exception of a family of
lineaments rather striking from NE-SW to N-S and that are possibly
pertaining to dykes or to faulting structures. In the Doda
property, lineaments are generally striking NW-SE, gradually
changing to an E-W orientation to the south. There are also a few
isolated lineaments that are rather trending NNE-SSW and NE-SW. In
general terms, magnetic lineaments are related to rock formations
that are enriched in magnetic minerals (magnetite and/or
pyrrhotite). In some areas, it is possible to detect structural
features offsetting observed magnetic lineaments and causing abrupt
interruption or changes of the magnetic response. These features
are typically caused by faults, fractures and shear zones. A
comprehensive structural interpretation of the Horsefly and Doda
properties is currently underway. (detailed magnetic maps are
available on the Visible Gold Mines' Website at
www.visiblegoldmines.com )
Qualified Person
Robert Sansfaçon, P.Geo, senior geologist and Visible Gold
Mines' vice-president exploration, is the qualified person for
Visible Gold Mines' properties under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects, responsible
for the technical contents of this news release, and has approved
the disclosure of the technical information contained herein.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the
prolific Abitibi Gold Belt and the
Bay James region in the province of Quebec. The Corporation has 33,827,039 common
shares issued and outstanding.
Forward-Looking Statements
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of Visible Gold Mines, or the
assumptions underlying any of the foregoing. In this news release,
words such as "may", "would", "could", "will", "likely", "believe",
"expect", "anticipate", "intend", "plan", "estimate" and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including the development of
the Doda and Horsefly properties or if it does so, what benefits
Visible Gold Mines will derive from these properties.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond Visible Gold Mines' control. These risks,
uncertainties and assumptions include, but are not limited to,
those described under "Risk Factors" in the management's discussion
and analysis of Visible Gold Mines for the fiscal year ended
July 31, 2020 and under "Financial
Instrument Risks" in Visible Gold Mines' Annual Report for the
fiscal year ended July 31, 2020,
copies of which is available on SEDAR at www.sedar.com, and could
cause actual events or results to differ materially from those
projected in any forward-looking statements. Visible Gold Mines
does not intend, nor does Visible Gold Mines undertake any
obligation, to update or revise any forward-looking information
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
Neither 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 the release.
SOURCE Visible Gold Mines Inc.