VG Gold Corp.
TSX : VG
FRANKFURT : VN3
OTC Bulletin Board : VGGCF

VG Gold Corp.

May 03, 2010 08:01 ET

VG Gold Results at Davidson-Tisdale, Timmins, Ontario-51.4 gpt Gold Over 1.5 Meters. 10,000 Meters Planned

TORONTO, ONTARIO--(Marketwire - May 3, 2010) - VG Gold Corp. (68.5%) (TSX:VG)(FRANKFURT:VN3)(OTCBB:VGGCF) and its joint venture partner San Gold Corporation (31.5%) are pleased to announce initial diamond drill results for the Davidson-Tisdale project in Timmins, Ontario for 2010. Drilling occurred on two separate zones of mineralization, known as the S Zone and the Main Zone.

Recent drilling began with two objectives:

  1. Angle drilling in previously explored areas in order to intersect possible narrow zones of higher grade mineralization;
  2. Exploration for extensions of known mineralization.

1) S-Zone: Looking for Higher Grades

Previous operators at Davidson-Tisdale drilled the S-Zone primarily from surface using vertical holes. When angle drilling occurred at a later date it was discovered that the results typically contained higher gold grades. It's believed that the vertical holes were unsuccessful indentifying narrow zones of higher grade because of their positioning. VG Gold's drilling was designed to test this hypothesis. Although additional drilling is required to better quantify this theory, early results have been encouraging. Highlights are shown below:

Hole # From To Width Gold Grade
  (m) (m) (m) (gpt)
         
VGT-10-371 93.8 95.3 1.5 51.4
         
VGT-10-372 22.3 23.6 1.3 10.80
         
VGT-10-373 101.8 103.4 1.6 7.68

Intervals reported here are core lengths. True widths are not known at this time. See more results in Table 1 below.

2) Main Zone: Extensions of Known Mineralization

Drilling in the Main Zone was designed to extend the known mineralization at depth. Drill holes VGT-10-377 and VGT-10-380 intersected 8.04 gpt gold over 3.0 m and 9.90 gpt gold over 1.5 m, helping to extend the mineralization by 50 m.

Hole # From To Width Gold Grade
  (m) (m) (m) (gpt)
VGT-10-377 285.5 288.5 3.0 8.04
         
VGT-10-380 274.3 275.8 1.5 9.90

Intervals reported here are core lengths. True widths are not known at this time. See more results in Table 1 below.

Drilling at Davidson-Tisdale is ongoing, with VG Gold and San Gold currently planning a 10,000 m drill program to test for deeper high-grade extensions. 

About Davidson-Tisdale

The Davidson-Tisdale project is well located in the heart of the Timmins gold camp and is approximately 3 km along strike from the Hollinger-McIntyre Mines, which have produced over 31 million ounces of gold. Davidson-Tisdale contained a measured and indicated resource of 188,967 ounces of gold (1,237,689 tonnes at 4.75 gpt) and an inferred resource of 58,684 ounces of gold (391,821 tonnes at 4.66 gpt). VG Gold owns 68.5% of Davidson-Tisdale and is the projects operator, with San Gold owning the remaining 31.5%.

VG GOLD.....WE ARE GOLD!

QUALIFIED PERSON

All exploration work was 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.

Table 1. Tisdale Project – April 2010

  S - Zone            
  Mine grid       Assays  
  northing easting dip az length from to gpt Length (m) G x W
                     
VGT-10-363 9385 9725 -45 180 251 No significant assays  
                     
VGT-10-364 9385 9725 -75 180 92 No significant assays  
                     
VGT-10-365 9490 9850 -45 355 176 114.8 116.5 4.22 1.7 7
                     
VGT-10-366 9465 9875 -45 355 140 71.2 74.5 2.30 3.3 8
            123.8 124.3 3.72 0.5 2
                     
VGT-10-367 9480 9925 -45 355 119 47.5 49.0 2.80 1.5 4
            54.5 56.0 3.78 1.5 6
                     
VGT-10-368 9485 9950 -45 355 110 46.0 47.5 1.14 1.5 2
            61.0 62.5 1.83 1.5 3
                     
VGT-10-369 9465 10000 -45 355 131 No significant assays
                     
VGT-10-370 9515 10000 -45 355 149 No significant assays
                     
VGT-10-371 9530 9950 -45 355 140 93.8 95.3 51.40 1.5 77
                     
VGT-10-372 9530 9875 -45 355 170 22.3 23.6 10.80 1.3 14
                     
VGT-10-373 9545 9850 -45 355 191 37.0 38.5 4.18 1.5 6
            40.0 41.5 1.60 1.5 2
            101.8 103.4 7.68 1.6 12
            143.0 145.8 4.94 2.8 14
            155.0 156.5 5.18 1.5 8
                     
VGT-10-374 9654 9965 -55 355 221 No significant assays
                     
VGT-10-375 9585 9925 -45 355 215 136.0 137.5 3.86 1.5 6
            140.5 142.0 2.42 1.5 4
                     
13 holes         2105          
                     
                     
            Assays  
Hole # section easting dip az length from to gpt Length (m) G x W
Main Zone                  
VGT-10-376 -125 -175 -64 145 251 No significant assays  
                     
VGT-10-377 -50 -200 -70 143 347 275.0 277.0 1.03 2 2
            285.5 291.5 4.47 6 27
            incl 8.04 3 24
                     
VGT-10-378 -75 -175 -62 144 296 No significant assays  
                     
VGT-10-379 -87.5 -200 -57 145 299 226.0 227.5 2.27 1.5 3
            232.4 233.9 1.23 1.5 2
                     
VGT-10-380 -87.5 -200 -72 142   269.8 278.8 2.90 9 26
            incl 9.90 1.5 15
                     
VGT-10-381 -112.5 -150 -63 145 275 208.5 210.0 0.91 1.5 1
                     
6 holes       total 1468          

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

Shares: 178,897,112

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information