Visible Gold Mines

Property Silidor - Capricorne

Visible Gold Mines has been exploring the Silidor Property, four kilometres west of Rouyn-Noranda, since mid-2010 in an attempt to confirm extensions to the former Silidor Mine which was in production from 1990 until 1997. A field program last year resulted in the discovery of "Vein E', 945 metres southwest of the former mine, through several high-grade grab samples.

The company concluded a 28-hole, 8,000 metre Phase 1 drill program late this spring. Mineralization was intersected in nearly every hole with the most significant results as follows:

Hole #            From (m)         To (m)         Width (m)         Grade (Au g/t)
SI-10-01             89.35          89.65              0.30                  17.50 
SI-11-05            105.05         108.00              2.95                   2.11
SI-11-08             70.85          72.70              1.85                   2.04 
                     94.45          96.25              1.80                   3.49 
                    111.45         114.15              2.70                   5.45 
                    129.00         130.50              1.50                   5.70  
SI-11-11            264.25         265.75              1.50                   2.93 
SI-11-14             56.55          58.20              1.65                   5.12
                    106.95         108.45              1.50                   6.06 
SI-11-17            121.25         122.60              1.35                   4.19 
SI-11-27            228.25         230.55              2.30                   8.30
SI-11-28            137.00         150.50             13.50                   2.20 
                     67.25          69.30              2.05                   4.64 

Widths reported in the above table are drill widths; true widths are unknown at this time.  All drill results from Silidor are detailed in the company’s April 20, June 16, and July 21, 2011, news releases. 

Visible Gold Mines' geological team is analyzing all results to date from Silidor in order to determine the strategy and scope of a potential Phase 2 drill program.

Discovered in late 1985, the former Silidor Mine was officially opened in September, 1990, by owners Noranda, Cambior, and Nova-Cogesco Resources. It entered production with reported reserves (pre-NI-43-101) of 4.78 million tonnes grading 5.4 g/t Au. Cost to the three partners to bring the mine into production was approximately $56 million, including $24 million for exploration.

The mineralized zone of the pluton-hosted lode deposit was 900 metres in length with a vertical extent of 900 metres and an average thickness of 3.5 metres.

Visible Gold Mines acquired 100% ownership of the 13-claim Silidor Property from Newmont Mining and IAMGOLD Corporation early last year for an aggregate 400,000 shares. Visible Gold Mines also holds a 40% interest in the adjacent Capricorn Property which is strategically located along strike of the former Silidor Mine.