VG Gold Corp.
TSX : VG
FRANKFURT : VN3
PINK SHEETS : VGGCF

VG Gold Corp.

February 17, 2010 08:00 ET

VG Gold Commences Drilling at Davidson Tisdale Joint Venture With San Gold, Timmins, Ontario

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2010) - VG Gold Corp., (TSX:VG), (FRANKFURT:VN3), (PINK SHEETS:VGGCF) is pleased to announce that drilling has commenced on the Davidson Tisdale Joint Venture property co-owned with San Gold Corporation. VG Gold is the operator of the joint venture and with a 68.5% interest and San Gold owns 31.5% of the prospective gold property located 3 miles along trend to the east of the Hollinger-McIntyre Mines, which have produced 30 million ounces of gold to date.

Previous exploration drilling at Davidson Tisdale focused on gold mineralization to a depth of only 800 feet (250 metres) below surface. The potential for high grade mineralization at depth is believed to be excellent, as neighboring mines in Timmins extend to depths of 7,000 feet (2,000 metres). The Davidson Tisdale property has demonstrated its potential for high grade gold zones, as indicated by drilling in 2004, when VG Gold established the presence of significant gold mineralization below the known resource. To view previous results from Davidson Tisdale including the 2003-2004 program please visit the link www.vggoldcorp.com/pdfs/Drill_Hole_Table_Tisdale.pdf

Deeper drilling will focus on extending the known high grade mineralization below 800 feet (250 metres). With one of Canada's premier exploration companies as VG Gold's partner, management looks forward to advancing the project. "It is very encouraging to have the opportunity to explore this type of gold deposit in one of the world's most famous mining camps. Timmins is known for its highly productive gold mines and we are seeing very good potential at the Davidson Tisdale Joint Venture. During 2010 we will be aggressively exploring to advance the Davidson Tisdale and our other projects in Timmins," stated Tom Meredith, President and CEO. 

Dale Ginn, CEO of San Gold agreed, "We are pleased to commence an aggressive exploration program on one of the highest quality advanced gold projects in the Timmins area and look forward to working closely with our partner VG Gold on the Davidson-Tisdale project."

VG GOLD.....WE ARE GOLD!

QUALIFIED PERSON

All exploration work is conducted under Kenneth Guy, P. Geo., designated Qualified Person for VG Gold, who has reviewed this press release. All drilling was completed using NQ size core. Gold analysis of the samples collected by VG Gold was assayed by ALS Chemex. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 10.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance program (QA/QC) is in place, using control samples such as Blanks and duplicate checks. In addition, duplicate analyses of 10% of the samples are corroborated by check assays performed at a third party Laboratory.

To learn more about VG Gold (TSX:VG), visit our website: www.vggoldcorp.com.

To view Figure 1 of the Drill Target Area, please visit the following link: http://media3.marketwire.com/docs/VG0217.pdf

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Contact Information

  • VG Gold Corp.
    Tom Meredith
    President
    416-368-0099