Visible Gold Mines

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TSX.V : VGD | FSE : 3V41

Property Horsefly/Doda/Phooey

The Horsefly is located within the southern part of the Caopatina – Desmaraisville volcano- sedimentary band which is included in Chibougamau-Matagami archean belt of the Abitibi Sub –province. The sedimentary and volcanic rocks as well the mafic and felsic rocks observed within the Property are intersected by the Remick and Dolda regional fault.

The Remick Fault, which is oriented north –west, is located in the north part of the property and includes the Chemin Barrière – Ouest showing. A grab sample which was come from a trench made in 1978 recovered a historical value of 1,19 g/t Au within a zone of limonite – iron – carbonate hosted by mineralised mafic volcanic rocks which were interbedded with some felsic units and graphitic argillites. The Doda fault, striking east –west and located at the south of the Remick fault, crosses entirely the length of the Property. The last fault contains the Surprise auriferous showing, discovered in 1987 by the LS-6 drilled hole which was situated within the eastern part of the Property. This hole recovered two historical auriferous intersections. The first intersection obtained a value of 1,2 g/t Au on 1,5 meters, which was associated with quartz – carbonate veins within an intermediary volcanite partly mineralised in pyrite and in pyrrhotite. The second intersection got a value of 2, 40 g/t Au on 1, 24 meters hosted by porphyritic felsic dike which the pyritic content was up to 5%. The south - western part of the Property contains also the north contact of the Horsefly granodioritic / tonalitic intrusion, which has a diameter of about 4 kilometer and which is situated in the south proximity of the Doda fault. The H-1455-002 auriferous showing, discovered in 1987 by the H-1455-002 drilled hole which was located in the north – east proximity of the Horsefly intrusive contact Horsefly, intersected a historical grade of de 1,1 g/t Au sur 1,0 meter found within a greywacke altered in chlorite and in biotite near of the south -east limit of the Property.

There are few historical works of exploration concerning the following of the auriferous showings along the Remick et Doda faults within the Horsefly property.

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