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DGAP-News: VG Gold Corp..: Drill Results from the paymaster Project in Timmins, Ontario, Canada


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Drilling results from the paymaster project in Timmins, Ontario Canada
8.7 meters at 4.58 g / t gold, including 6.22 g / t gold a distance of 4.3 m
30. March 2010, Toronto, Ontario, Canada. VG Gold Corp.., (TSX: VG; FWB: VN3; OTC: VGGCF) announces that drilling in the Paymaster West project in Timmins, Ontario, Canada is still positive Results. The first results from the sogn. Phase 3, the beginning of the Year began, are described below.
The results of the first five holes from the Phase 3 VG Gold continues to confirm that when the Paymaster property Chance for a gold-grade bulk-tonnage exists, namely due to a hole section of 26.0 m wide with a grade of 2.26 g / t, also appears as the possibility of a Underground mining scenario with a higher concentration of gold in the ore, using a Section at 4.58 g / t gold over a width of 8.7 m, including 6.22 g / t gold over 4.3 m. The 3rd Phase of drilling will continue to make a To maintain oversight of gold mineralization could potentially be mined directly from the surface. Moreover, the quality of the mineralization in the deeper is Layers, finished below the holes from the Phase 2 (in December 2009), examined.
Drill Results – Highlights
(all results can be found in Table 1)
Borehole no. width of up grade
(m) (m) (m) (g / t) VGP-10-63 152.1 160.8 8.7 4.58 including 4.3 6.22 VGP-10-64 133.2 149.7 16.5 1.97 VGP-10-65 131.0 157.0 26.0 2.26
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Note: The o.g. Intervals are core section lengths. The true widths are currently unknown.
Five holes were drilled over a length of 1081m drilled. The goal was to expand the gold mineralization in Sogn in 2009. Western porphyry zone in the area identified Paymaster was. All holes intersected multiple zones with hydrothermally modified quartz / feldspar Prophyrgestein which large Sections with gold mineralization include, among in particular, 16.5 m, with 1.97 g / t gold (hole VGP-10-64), 26.0 m of 2.26 g / t gold (Borehole VGP-10-65), 7.5 meters of 1.04 g / t gold (hole VGP-10-66), and 25.5 m with 1.15 g / t gold and 8.7 meters at 4.58 g / t gold.
Drilling will continue in the zones with a Gold mineralization in the course of the quartz / feldspar Prophyrgesteins, both in the Depth, as well as along strike in eastern and western Direction, continue to expand.
Currently, geological models and models for the evaluation of Mineralization created to further exploration potential in the area to open up and around the project with an initial resource estimate develop, which is scheduled for the third quarter of 2010.
The gold mineralization in the western region is the paymaster Outer surface and the interior of sections with a heavily modified, well mineralized rocks from Quartz-/Feldspat-/Prophyrgestein included. The change of the rock strata is based on widespread And sericite-ankerite-tourmaline mineral with local, both Rock layers run and scattered veins. Furthermore, there is continuous a pyrite mineralization in the rock, with a local Concentration of up to 20%. The drilling to date have in each Borehole several intervals from a modified, mineralized Quartz / feldspar Prophyrgestein cut.
The paymaster-West project is located next to the famous Dome Mine of Goldcorp from which to date more than 17 million ounces of gold under both underground mining as well as pit mining was encouraged.
VG Gold Corp.. has the option of 60% of the Paymaster Property in the West To acquire a joint venture with Goldcorp, if VG Gold 6 million CAD in exploration expenditures by June 2012 invested in the property. Once VG Gold to acquire 60% of the area is known, has Goldcorp 6 Months to decide whether the company is owned by 40% to 70% would increase, by payment of CAD 710,000 on VG Gold and the takeover of exploration costs for the area in Extent of CAD 8.25 million in two years and the implementation a project feasibility study until the end of the 3rd Year.
All exploration work was conducted under the supervision of Mr. Kenneth Guy, P. Geo. done this (is designated Qualified Person for VG Gold Corp.), which this Company has reviewed publication. All holes have been associated with the use of . sogn NQ core sizes completed. The gold analysis samples collected by VG Gold has been completed by ALS Chemex. The Gold determination was carried out under a fire-metal analysis with a 30-gram Sample and atomic absorption spectrometry (AAS). Samples with more than 10.0 g / t gold are re-examined using gravimetric Analysis. Visible gold samples which have to be under the ‘total metallic assay method ‘investigated. A strict quality control and a quality assurance (QA / QC) is present in the free and standard control samples, and double Checks are applied. In addition, investigations of twin 10% the samples in a test analysis of a Drittlabor confirmed.
For more information and for questions from shareholders, Investors and Media, please contact Mr. Maurice Höwler (Investor Relations Europe) as a contact in Germany under the e-mail address mhoewler@vggoldcorp.com available.
To learn more about VG Gold Corp.. learn, please visit our new German website: http://german.vggoldcorp.com
Table 1: Paymaster West Project – March 2010
Borehole no. East North az dip length of up external grade Grade
x width
(m) (m) (m) (m) (g / t) (g / t * m)
VGP-10-63 5900 8600 224.0 -45 175 110.6 116.1 5.5 2.51 13.8
152.1 160.8 8.7 4.58 39.7 including 4.3 6.22 26.5
VGP-10-64 6100 8556 230.0 -52 170 80.4 81.9 1.5 8.01 12.2
95,3 97,8 2,5 1,66 4,2
100,3 101,8 1,5 1,23 1,8
126,2 128,0 1,8 2,15 3,9
133,2 149,7 16,5 1,97 32,5
VGP-10-65 6100 8556 242.0 -67 180 94.2 95.7 1.5 1.64 2.5
124,7 126,5 1,8 1,11 2,0
131,0 157,0 26,0 2,26 58,7
165.8 167.4 1.6 1.34 2.1 VGP-10-66 6224 8550 185.0 -45 168 106.8 114.3 7.5 1.04 7.8
VGP-10-67 6224 8550 200.0 -67 171 100.3 101.8 1.5 1.87 2.8
112,5 118,3 5,8 1,97 11,4
133,8 159,3 25,5 1,15 29,2
5 holes 1081.0
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30.03.2010 14:18 Ad-hoc news, financial news and Press releases transmitted by DGAP. Media archive at http://www.dgap-medientreff.de and http://www.dgap.de