Business
VenCan Gold Corporation Adds Mount Logano Porphyry Property in the Porcupine Gold Camp Near Timmins, Ontario
TORONTO, June 2 /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, June 2 /CNW/ - VenCan Gold ("Vencan" or the "Company") (TSX\nVENTURE:VCG) is pleased to announce it has acquired 100% ownership of the\nMount Logano gold property, located approximately 18 kilometres due east of\nTimmins Ontario.\n\n\nAbout the Property\n\n\nThe Mount Logano Porphyry Property consists of 21 claim blocks equalling\n212 claim units or 8,480 acres in Whitney, Shaw, Carman and Cody townships of\nthe Porcupine Mining Division of Northern Ontario.\n\n\n- The Mount Logano Property was acquired as part of Vencan's Abitibi\n West Property package agreement from famed prospector Don McKinnon,\n well known for his role in the discovery of the lucrative Hemlo Gold\n Mines.\n\n\nGood Potential for an Economic Gold Deposit\n\n\nThe Mount Logano quartz-feldspar porphyry was coeval with the Pearl Lake\nporphyry, which played an important role in gold mineralization at two of the\nlargest gold producers in the Porcupine gold camp; the McIntyre and Hollinger\ngold mines. In addition to both porphyry intrusions occurring during the same\ntime period, both porphyry bodies have intruded Tisdale age mafic and\nultramafic rocks, which host much of the gold mineralization on the McIntyre\nand Hollinger properties. Also, there is geological evidence that the Mount\nLogano porphyry has undergone considerable deformation and fracturing similar\nto that observed within the Pearl Lake porphyry.\n\n\nRandall Salo, P.Geo. commented, "The geological setting is as good as it\ngets. The Property is in an area with strong gold potential and it has all the\ngeological attributes that would lead one to believe that there is potential\nfor an economic gold deposit. A limited amount of previous work has been\ncarried out over the property and much of this was focused within the\nintrusion itself."\n\n\nSummer Exploration Program Planned\n\n\nA first phase exploration program is currently underway and will consist\nof approximately 65 km of line cutting at 100-metre line spacing and\nsubsequent I.P. and magnetometer surveys at 50 and 12.5-meter intervals\nrespectively.\n\n\nExploration will focus on the contact of the Mount Logano porphyry\nintrusion with Tisdale age mafic/ultramafic rocks and related faults and\nfractures. According to the Ontario Geological Survey (OGS), gold bearing\nfractures within p...