VVC Exploration Starts Drilling on Cumeral Gold Prospect in Mexico
TORONTO, ONTARIO -- (Marketwired) -- 05/14/13 -- VVC Exploration Corporation ("VVC" or the "Company") (TSX VENTURE: VVC) is pleased to announce the commencement of 1,000 meters of reverse circulation drilling on the Cumeral Property ("Cumeral" or the "Property") located 70 km to the south of the US border, in Sonora State, Mexico. Drilling One mobilized a drill rig onto Cumeral last week from its regional office in Cuauhtemoc, Chihuahua, Mexico, following the issuance by the Mexican Department of Natural Resources and Environment of the required drilling permit.
This drilling campaign is the first phase of drilling recommendations made in a recent internal report by Michel Boily, PhD, P. Geo., an independent Qualified Person. The information from this drilling, along with the detailed geological mapping and sampling on Cumeral which was previously completed previously and reported on June 12, 2012, will allow VVC to efficiently plan the next phase of exploration on Cumeral as the Company seeks to confirm potentially exploitable gold deposits on the Property.
In June 2012, VVC announced the results of a geological mapping, rock and soil geochemical exploration program in the southern segment of Cumeral as a part of a National Instrument 43-101 report on the Property prepared by independent geological consultant Michel Boily, PhD, P. Geo. Results from the mapping and rock sampling programs show high gold values (i.e. 0.5 to greater than 10 g/t) in hematized and pyritized quartz veins/veinlets commonly associated with mylonitized, located in gently eastward-dipping, low-angle (20 degrees to 40 degrees ) faults. Geological mapping in the southern segment of the property revealed at least ten gold-mineralized structures generally confined to areas tested by an air track drilling program of 2010 (News release dated September 21, 2010).
Further results from a soil geochemical survey found three anomalous areas with values of greater than 50 ppb Au are defined within zones characterized by a paucity of outcrops or in unmapped regions. The soil geochemistry, in conjunction with gold assays from rock and soil samples taken from 2010 to 2012, gives a crude NNW-SSE trend of elevated values extending for 4 km.
"We are very optimistic that this two phased drilling program will confirm potentially exploitable deposits of gold bearing mineralization on Cumeral" said Dr. James A. Culver, President and CEO of VVC.
The technical aspects of this news release were reviewed by Michel Boily, PhD, P.Geo, who is an independent Qualified Person (QP) as defined in National Instrument 43-101.
About VVC Exploration Corporation
VVC is a Canadian exploration company with projects in Mexico and Canada, which include a gold prospect in Sonora State and a gold placer prospect in Sinoloa State, both in Mexico. The Company also has grass-roots gold prospects in the Timmins area of northern Ontario. In addition, VVC is aggressively searching for other projects - especially precious minerals and base metals at various stages of development in North America, mainly in Mexico, Quebec and Ontario.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated operational plans and activities including the revenue and growth outlook. Specifically, they include the Company's statement that: "the information from this drilling will allow VVC to efficiently plan the next phase of exploration" and, "that this two phased drilling program will confirm potentially exploitable deposits of gold bearing mineralization".
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by the Company, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third party relationships, risks affecting Company's ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the Company's efforts will result in confirm potentially exploitable deposits of gold bearing mineralization. Additional assumptions and risks are set out in detail in the Company's MD&A, available on SEDAR at www.sedar.com.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
VVC Exploration Corporation
Patrick Fernet
Vice-President
(514) 631-2727
pfernet@vvcexploration.com
www.vvcexpl.com