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Recently Completed Geophysical Surveys on Mt. Logano Property Prompts Immediate Drill Program
TORONTO, July 15 /CNW/ - VenCan Gold ("Vencan" or the "Company") (TSX VENTURE:VCG) is pleased to ...
About this update from Rpx Gold Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, July 15 /CNW/ - VenCan Gold ("Vencan" or the "Company")\n(TSX VENTURE:VCG) is pleased to announce it will immediately commence drilling\non its Timmins area Mt. Logano gold property in order to test newly defined\ngeophysical targets. The planned program consists of 6-8 diamond drill holes\ntotaling about 1,000 meters.\n\n\nRecently completed IP/resistivity and magnetometer surveys have defined a\nminimum of five anomalous zones several of which have geological\ncharacteristics similar to those of major gold deposits in the Timmins area.\n\n\nAll five IP anomalies will be drill tested with a minimum of one hole on\neach target. Target L-5 that is located at a felsic porphyry/ultramafic\nvolcanic rock contact displays an IP anomaly along at least 800 meters of this\nimportant contact. A distinct magnetic low is coincident with this IP response\nwhich may be indicative of the destruction of magnetite in an area of intense\nalteration.\n\n\nBill Nielsen, P.Geo. a Director of the Company commented, "We are very\npleased to have identified five highly prospective targets within such close\nproximity to large producing and former producing gold mines. One target area\nin particular is quite intriguing in that it displays a strong IP anomaly at\nthe contact between volcanic and intrusive rocks which also displays a\nsignature of magnetic destruction."\n\n\nThe claim group is underlain by similar age rocks to those that host the\nprolific 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\nas well as a host of other significant past producing gold deposits are\nsituated to the west of the Mt. Logano Property.\n\n\nThe Mt. Logano Property, located east of Timmins, Ontario has recently\nbeen acquired from famed prospector Don McKinnon, known for his significant\ncontribution to the discovery of the Hemlo gold deposit and major land holder\nin the Timmins area.\n\n\nThe property is located in the northern part of Shaw Township, extending\nwell into the southern part Whitney To...