Mr. Mark Fedosiewich reports
VIOR AND ETHOS GOLD ANNOUNCE COMMENCEMENT OF DRILLING AT THEIR LIGNERIS GOLD PROJECT, ABITIBI, QUEBEC
Societe D'exploration Miniere Vior Inc., in partnership with Ethos Gold Corp., have commenced their previously announced drill campaign on the Ligneris gold project, located 110 kilometres (km) north of Val d'Or, Que. (see press release of Sept. 18, 2019). Two diamond drills are now on site and running, with each targeting two different areas, namely the Central and the South zones. Approximately 6,000 metres (m) of drilling in the phase 1 program is scheduled to be completed by the end of December, 2019.
The objective of this drilling program is to test the depth extensions of historical gold-bearing drill intercepts to approximately 600 metres, which coincide with well-defined geophysical chargeability anomalies. The program will also test some shallow-depth chargeability anomalies generated from the recently completed gradient induced polarization (IP) survey that are located along stike with known strongly altered structural corridors. Historical drill intercepts at Ligneris included 10.6 m at 13.5 grams per tonne (g/t) gold (Au) and 2.9 m at 62.0 g/t Au in the South zone and 1.45 m at 216 g/t silver (Ag) and 2.79 per cent zinc (Zn) and 5.43 m at 4.92 g/t Au in the Central zone. The mineralization type and geochemical signature at Ligneris is interpreted as belonging to an Archean-age, gold-rich volcanogenic massive sulphide system.
Mark Fedosiewich, president and chief executive officer of Vior, stated: "We are excited to commence this significant drill program at Ligneris to test many of the high-priority deep targets developed by our independent consultant, InnovExplo. Previous drilling on Ligneris, almost 30 years ago, tested only the top 300 metres from the surface and intercepted multiple significant gold intervals. Many of the drill holes will now test strong chargeability anomalies identified in the recent gradient IP survey below this gold mineralization. We look forward to announcing the results from this program."
Ligneris option agreement
Ethos can earn a 51-per-cent interest in the Ligneris project by paying Vior $1-million in Ethos shares and incurring $3-million in expenditures over the first four years of the agreement. Following an initial earn in to 51 per cent, Ethos will have 60 days to elect to earn in a further 19-per-cent interest (to a total interest of 70-per-cent interest) by incurring an additional $4-million in project expenditures over the subsequent three years.
Marc L'Heureux, professional geoscientist, master of applied science, vice-president of exploration for the company and a qualified person as defined under National Instrument 43-101, has reviewed and approved this release. The technical content disclosed in this press release was also reviewed and approved by Jo Price, professional geoscientist, master of science, who is Ethos's qualified person as per National Instrument 43-101.
About Societe D'exploration Miniere Vior Inc.
Vior is a junior mining exploration company based in Quebec whose corporate strategy is to generate, explore and develop high-quality projects in proven and favourable mining jurisdictions in North America.
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