VVC Exploration - Q3 Financials and Drilling Update
TORONTO, Dec. 29, 2017 (GLOBE NEWSWIRE) -- VVC Exploration Corp. (“VVC” or the “Company”) (TSX-V:VVC) announces the filing, on SEDAR, of its Financials for the period ended October 31, 2017 and provides an update on its ongoing drilling program in Mexico .
Samalayuca Drilling Update
The Company initiated exploration drilling on its Samalayuca copper project, in Chihuahua State, Mexico, in August. Permits were received for core drilling at 53 sites, in the La Gloria area, and the other known copper zones, which were exploited by artisanal miners in the 1950’s and 60’s, to evaluate the copper mineralization over the 5 km strike length of known mineralization.
The 3000-metre diamond drilling program started on August 23 after receipt of the permits, with drilling to date totalling 2,701 m in 23 holes. The drilling has tested known copper zones including La Gloria, La Gloria NW, La Gloria Extension, Thor and Zorra. The drill program closed down over the Christmas period and will start again early in the New Year testing the La Concha, Zorra and La Gloria Extension zones. Given the slow receipt of results and the various zones tested in the drilling campaign, all analytical results will be released once all data has been received and compiled.
The Company previously completed a magnetic survey covering the 5 km trend including all the known copper zones. An area of low magnetic intensity, generally coincident with, and thought to be reflective of, the alteration associated with the copper mineralization, is being used to guide the drilling
The technical aspects of this news release were reviewed and approved by Peter Dimmell, P.Geo (NL, ON), a director of VVC and a Qualified Person (QP) as defined in National Instrument 43‐101.
Other
In its news release of December 21, 2017, the Company had erroneously reported that the warrants attached to a US$150,000 Debenture financing were exerciseable at US$0.11 per share, when in fact the exercise price was CA$0.11 per share.
The Company has filed, on SEDAR, its Financial Statements and Management Discussion and Analysis for the Nine-Month (Q3) period ended October 31, 2017.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, including the Samalayuca copper property in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States, Mexico. The Company also has a grassroots gold/VMS prospect in the Timmins area of northern Ontario. Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet - (514) 631-2727
E-mail: pfernet@vvcexploration.com
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.