Val-d'Or Mining Corporation Ground Geophysical Program Update on the Dionne Prospect
Val-d'Or, Sept. 21, 2021 - Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-d'Or Mining" or the "Company) has completed induced polarization (IP) and ground magnetic surveys over the eastern land portion of the Dionne Prospect. The 100%-owned property is located within the Amos-Barraute Belt of volcano-sedimentary rocks of the southern zone of the Abitibi Greenstone Belt (AGB). The primary exploration target on the property is an orogenic gold deposit. The program is intended to follow-up on geophysical surveys carried out by Golden Valley Mines in 2011 over the western section of the property (winter lake coverage), which have detected many IP chargeability anomalies directly associated with the historical Dionne gold showing, iron formation units and the Chicobi Deformation Zone (GM 65054, GM 65567).
The Company will report in more detail on the results following the completion of the geophysical data processing currently underway by the contractor, Géophysique TMC, data compilation, interpretation and 3D geological modelling.
Property Background:
The Dionne Prospect is situated at and around the corners of Duverny, Vassal and Lamorandiére Townships. Most of the property is covered by Lac Castagnier with the underlying geology projected as being made up of sandstone, conglomerate, argillite and iron formations interbedded with intermediate to mafic volcanic rocks.
The Dionne Showing containing visible gold was discovered in the Fall of 1951, by Mr. Joseph Dionne of Val-d'Or, Québec. The following quotation from I.C. Christopher reporting for Sanctae Rosaelis Mining Corporation states (GM 01629). "The discovery was made at a time when the water level of the lake was lower than it had been for several years, the outcrop is usually below the water. The showing consists of a mineralized zone of carbonatized lavas, striking east-west. A trench was put across the zone for a distance of 22 feet which showed the same type of alteration and mineralization. Pits to the north and south of the trench indicate that the zone is about 30 feet wide. Due to the steep bank along the shore which rises about 15 feet, the zone could not be traced to the east, to the west it passes under the lake."
Mineralization is described (GM 01629) as consisting of pyrite, minor specks of chalcopyrite and arsenopyrite. Specks of visible gold were also found. The arsenopyrite occurs in narrow quartz stringers about 40 feet to the north of the showing. Grab samples (1951) from the trench gave the following values:
Sample # 1: 0.023 ounces gold
# 2: 8.291 ounces gold
# 3: 2.769 ounces gold
The three grab samples collected by Sanctae Rosaelis Mining Corporation were assayed at the Québec Department of Mines Laboratories (GM 01629).
The Dionne gold showing is spatially associated with the Chicobi Deformation Zone, a major, yet under-explored regional deformation corridor (Leclerc et al, 2012 Economic Geology, v.107, pp 963-989) transecting the AGB in Québec across over to Ontario.
Michael P. Rosatelli, P.Geo. (OGQ Special Authorization Permit; PGO #0855), the Vice President of Exploration of Val-d'Or Mining is the Qualified Person (as that term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) who approved the technical disclosures included in this news release.
About Val-d'Or Mining Corporation
Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments (Ni-Cu-PGE's).
The Company has an expertise in the identification and generation of new projects, and in the early stages of exploration. The mineral interests are broad and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners with the technical expertise and financial capacity to conduct more advanced exploration projects.
For additional information, please contact:
Glenn J. Mullan
2864 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@goldenvalleymines.com
Forward Looking Statements:
This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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 news release.