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Drilling Underway on Mt. Logano Property in Timmins, Ontario
TORONTO, Aug. 6 /CNW/ - VenCan Gold ("Vencan" or the "Company") (TSX VENTURE:VCG) is pleased to a...
About this update from Rpx Gold Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 6 /CNW/ - VenCan Gold ("Vencan" or the "Company") (TSX\nVENTURE:VCG) is pleased to announce it has commenced a drilling program on its\nTimmins area Mt. Logano gold property in order to test newly defined\ngeophysical targets. The drill program consists of 6-8 diamond drill holes\ntotaling about 1,000 meters.\n\n\nThe first drill hole is at Target L-5, located at a felsic\nporphyry/ultramafic volcanic rock contact, which displays an IP anomaly along\nat least 800 meters of this important contact. A distinct magnetic low is\ncoincident with this IP response, which may be indicative of the destruction\nof magnetite in an area of intense alteration.\n\n\nRecently completed IP/resistivity and magnetometer surveys defined a\nminimum of five anomalous zones, several located where a porphyry system\nintrudes the mafic volcanic rocks in a geological setting similar to those of\nthe major gold deposits in the Timmins area. All five IP anomalies will be\ndrill tested with a minimum of one hole on each target.\n\n\nThe Logano claim group is underlain by similar age rocks to those that\nhost the prolific Timmins area gold deposits, which have produced in excess of\n65 million ounces. The contact between felsic porphyries and ultramafic/mafic\nvolcanic rocks presents a significant gold environment target. The Nighthawk\nLake gold deposit (Goldcorp Inc.) lies to the east while the Pamour, Hallnor\nand Hoyle Pond Mines (Goldcorp Inc.) lie to the north. The prolific Dome Mine,\nHollinger Mine and MacIntyre Mine, as well as a host of other significant past\nproducing gold deposits are situated to the west of the Mt. Logano Property.\n\n\nAbout the Property\n\n\nThe Mt. Logano Property, located 9 kilometres east of Timmins, Ontario\nhas recently been acquired from famed prospector Don McKinnon, known for his\nsignificant contribution to the discovery of the Hemlo gold deposit and major\nland holder in the Timmins area.\n\n\nThe property is located in the Abitibi Greenstone Belt, in the northern\npart of Shaw Township, extending well into the southern part Whitney Township\nand east into Carmen and Cody Townships, over to the western shore of\nNighthawk Lake. It is made up of 212 claim units covering an area of\napproximately 33.9km(2). A map of the property can be viewed on the Company's\nweb site.\n\n\nI...