Nevado Resources Corporation

Nevado Resources Corporation

May 19, 2010 08:30 ET

NEVADO Launches Gold Exploration Program Following the Significant and Favourable 4,500 Line-Kilometres Airborne Geophysical Survey on the Nicolet, Nicolet-North and Nicolet-East ...

... Properties, Southern Quebec

MONTREAL, QUEBEC--(Marketwire - May 19, 2010) - NEVADO Venture Capital (TSX VENTURE:VDO) (FRANKFURT:VSN) ("NEVADO" or the "Company") is pleased to announce the start of the summer 2010 exploration program on the Company's wholly-owned Nicolet, Nicolet-North and Nicolet-East gold properties (the "Properties"). The Nicolet, Nicolet-North and Nicolet-East properties cover more than 415 km2, located along a 50km northeast-southwest trend centered 10 km south-southeast of the community of Thetford Mines (Eastern Townships, Quebec), some 150 km east of Montreal.

The NEVADO exploration team under Bertrand Brassard, P. Geo., Technical Director of the Company, will seek to establish continuity and grades of the projected gold mineralization on the Properties using detailed prospecting, geological mapping and grab/channel sampling, followed by diamond drilling. The objective this year is to determine the full extent of the gold mineralization over the 50 kilometres gold trend located on the Properties. The gold trend was established from historical results, recent discoveries and constrained by the airborne geophysical survey, which shows a series of narrow, parallel and alternating magnetic high and lows, as well as curvilinear magnetic signatures typical of volcanic-intrusive sequences. The gold trend overlaps with stream, till and bedrock geochemical gold anomalies.

The Nicolet, Nicolet-North and Nicolet-East

Thetford Mines and the southern Quebec Appalachian Belt have a century long history of mining and are known for its numerous asbestos, chromite and copper deposits and occurrences. The region was the site of Canada's first placer gold rush in the 1850's, decades before the Klondike in the Yukon. Despite the fact that several gold occurrences were discovered in volcanic, intrusive and sedimentary rocks, no major bedrock sources were discovered to account for the placer gold, that is until 2009 with the gold discovery made by Bowmore Exploration Ltd. (TSX-V: BOW) along strike and contiguous to the southeast of the Nicolet Property.

The Properties are interpreted to cover sedimentary and volcanic rocks of the St-Daniel Formation, bordering the Thetford Mines Ophiolite Complex. The area was worked for base and precious metals by a number of individuals and companies since the early 1900's up until the 1960's. The work included prospecting, trenching, limited diamond drilling and artisanal mining. The Properties cover mineral occurrences with documented results of up to 1 g/t gold and 5% copper in rock samples, and up to 26 g/t gold in stream-sediment heavy mineral concentrates (Ministère des ressources naturelles et de la faune Québec Assessment Files).

The Thetford Mines area is benefitting from a major staking rush, the result of bedrock disseminated gold discoveries. The favourable hosts comprise sedimentary, felsic volcanic and intrusive rocks in the Appalachian Belt of southern Quebec, from Sherbrooke to Beauceville, and have been generally overlooked in the past for their gold potential but have now become significant contributors to the next generation of major new gold mineralization in Quebec, such as in the Val-d'Or-Malartic Gold Camp with Osisko Mining.

The technical information in this news release was prepared, reviewed and approved by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical Consultant to NEVADO, and Bertrand Brassard, M. Sc., P. Geo. Both individuals are Qualified Persons under NI 43-101 regulations.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. The statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements

Contact Information

  • Mr. Guy Girard
    President and CEO
    Bertrand Brassard, P. Geo.