News releases 2009
2009
Visible Gold Mines completes 11 000 Meters of drilling
Rouyn-Noranda, Québec, Canada – February 17, 2009 – Visible Gold Mines Inc. (VGD: TSX Venture Exchange) has completed a 13-hole, 11,000 metre drill program on its Stadacona East gold property. The property is located in the centre of Rouyn Township in northwestern Quebec. The property is comprised of 78 mineral claims, covering a surface area of 1,563 hectares. All of the claims are in full force and effect.
The two past producers, the “Noranda Mine” (59.3 Mt at 5.88 g/t Au, 2.2% Cu, 13 g/t Ag) and the Stadacona Gold Mine (466,282 ounces Au), are situated approximately 1.0 km north and 400 m west, respectively, from northern and western boundaries of the Stadacona East property.
Drill core is currently being split, logged and sent to the laboratory for analysis. Assay results are expected in the coming weeks.
Martin Dallaire, the president and CEO stated, “The first objective is to prove the extension of the gold mineralized zone in depth and the second objective is to get information from this deep area, which has never been explored.”
The property is underlain by mafic to felsic metavolcanic rocks of the very important Blake River Group. Two economically significant structures host gold mineralization on the Stadacona East property (see the 43-101 technical report on our website, www.visiblegoldmines.com).
The company also wishes to announce that Mr. Claude Dufresne has resigned as a director effective immediately. Visible Gold Mines would like to thank Mr. Dufresne for his contribution during his tenure at the corporation, and wishes him all the best in his future ventures. Mr. Dufresne will be replaced by Dr. Patrice Dionne, respected businessman in Canada.
About Visible Gold Mines Inc.
Visible Gold Mines is a company focused on gold in the prolific Abitibi Gold Belt in Canada. The Company has 25,369,929 shares outstanding, no debt and cash liquidity of $1.8 millions representing $0.07 per share.
Forward-looking Statements
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability Visible Gold Mines to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by Visible Gold Mines. Accordingly, readers should not place undue reliance on forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
For further information, please contact:
Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609, Fax: 819-762-0097
E-mail: mdallaire@visiblegoldmines.com
Website: www.visiblegoldmines.com
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