Vedron Gold Inc.

Vedron Gold Inc.

November 08, 2005 12:55 ET

Vedron Gold Inc.: Results Confirm New Zone at Depth on the Davidson Tisdale Property, Timmins, Ontario

TORONTO, ONTARIO--(CCNMatthews - Nov. 8, 2005) - Vedron Gold Inc., (TSX-V:VG), (FRANKFURT:VN3), is pleased to announce the drilling results from the recent program which include gold assays of 17.28 grams over 2.5 metres and 12.83 grams over 7.5 metres. The program targeted a new zone at a 250 metre depth on the Davidson Tisdale Property owned by Laurion Gold Inc. The program commenced in September and was completed in October 2005.

Six holes were drilled during this phase of Vedron's Year 3 work commitment expenditures on the Davidson Tisdale Property. Vedron has the option to earn a 60% interest in the Davidson Tisdale property by spending $5 million over 5 years. Year 3 of the agreement began March 14, 2005.

Exploration drilling was designed to test for a new gold bearing quartz vein zone below a depth of 600 feet (200 metres) within the Main Zone alteration package where an earlier drill hole by Vedron in 2004 intersected 16.32 grams over 2.8 metres (hole 04-327). The drilling also intercepted several quartz veins with anomalous gold values near the target zone.

The Main Zone is a steeply dipping quartz-sericite-carbonate alteration zone that hosts relatively flat lying auriferous quartz vein systems ("QVS"). Previous exploration and underground development work has established the presence of several significant QVS veins, situated from surface to a depth of 600 feet (200 metres). The 2005 program confirmed the continuity of the gold mineralization to a depth of 280 metres or 920 feet below surface elevation.

Results are as follows:

Hole 05-351 intersected a quartz vein system at the 160m level with no significant assays.

Hole 05-352 intersected a broad quartz vein system from 273.7 to 296.9 metres downhole with anomalous gold values and visible gold including 1.87 grams per tonne Au over 5.06 metres at approximately 260 metres below surface. A deeper intersection assayed 3.17 grams per tonne Au over 1.38 metres from 321.62 to 323.0 metres.

Hole 05-353 failed to intersect a quartz vein system at the targeted depth of 225 metres below surface

Hole 05-354 intersected a QVS, quartz vein system, at the targeted depth of 250 to 275 metres below surface. A broad quartz vein system was intersected in the hole from 278.4 to 294.3 metres including 17.28 grams per tonne Au over 2.5 metres at approximately 260 metres (850 feet) below surface on section 75 South. This QVS correlates with the vein in hole 04-327 (16.32 gpt Au over 2.8 metres) also on Section 75 South, 25 metres below and 25 m west of 05-354.

Hole 05-355 intersected a QVS at the targeted depth on section 37.5 South correlating with the QVS in holes 05-354, and 04-327. The vein system including a mineralized halo assayed 5.99 gpt Au over 18 metres, from 290 to 308, including 12.83 gpt Au over 7.5 metres at a vertical depth of 280 metres (-920 feet)

Hole 05-356 intersected 2 QVS, 13.2m to 15.85 metres and 198.7 to 207.1 metres. The lower vein system was anomalous in gold, but values were subeconomic. The hole passed above the target vein system and was out of the alteration envelope at the target depth.

The program was successful in intersecting and confirming a favourable quartz vein structure with anomalous gold values targeted below the known gold bearing quartz veins within the Main Zone. The 280 metre depth is relatively shallow relative to the depth of mineralization in the Timmins gold camp where mining occurs to depths exceeding 2000 metres. Management believes that good potential exists to expand the gold mineralization to depth within the steeply dipping Main Zone on the Davidson Tisdale Property.

The following table summarizes the results of the September /October 2005 drill program.

Hole# Location elev Section Az Dip Depth Assays
05-351 9961N / 3308 Sect 125S / 305 -84 230 no
10064E 071W bottom Grid significant
of hole NW assays
on 137.5S
05-352 9961N / 3308 Sect 125S / 360 -76 341 293.27 -
10064E 071W bottom Grid 298.33
of hole NE 1.87gpt/5.06m
on 87.5S 308 - 309.5
321.62 - 323
05-353 10016N / 3308 Sect 75S / 150 -87 279 no
10090E 106W significant
05-354 9959N / 3305 Sect 50S / 322 -71 335 282.6-285.1
10152E 25W bottom 17.28gpt /
of hole 2.5m
Sect 75W
05-355 9959N / 3305 Sect 50S / 335 -74 332 290 - 308
10152E 25W target 5.99gpt / 18m
Sect 50W/ includes
37.5W 12.83gpt/ 7.5m
05-356 9959N / 3305 Sect 50S / 325 -80 221 147 - 148.0
10152E 25W bottom 0.8gpt /
of hole 1.0m 162.3 -
Sect 62.5W 163.9 0.6gpt
/ 1.6m

Widths indicated are drill intersected length. True widths are
unknown at this time.

All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for Vedron Gold. Gold analyses of samples collected by Vedron were conducted by Laboratorie Expert in Rouyn-Noranda, Quebec. Analyses consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analysed via the total metallic assay method. A rigorous Quality Control and Assurance program (QC/QA) is in place, using control samples such as Blanks and Rocklabs Standards and duplicate checks. In addition, duplicate analyses of 10% of the samples were corroborated by check assays on sample pulps performed by Bourlamaque Laboratory of Val D'or, Quebec.

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Contact Information

  • Vedron Gold Inc.
    Tom Meredith
    (416) 368-0099