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VenCan Gold Provides Exploration Update on Recently Acquired Properties in Timmins Area
TORONTO, Nov. 5 /CNW/ - VenCan Gold ("Vencan" or the "Company") (TSX VENTURE:VCG) is pleased to p...
About this update from Rpx Gold Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 5 /CNW/ - VenCan Gold ("Vencan" or the "Company") (TSX\nVENTURE:VCG) is pleased to provide an exploration update on its Mt. Logano\ngold property and the Costello Property, both in the Timmins area.\n\n\nMt. Logano Update\n\n\nThe Company has recently completed trenching and excavating in a new area\nof the Mt. Logano Property. This part of the Property has been, up until now,\ninaccessible due to the dense forest and swampy terrain and has been\nextensively stripped in order to conduct ground work. An area along the\ncontact between a porphyry intrusion and Tisdale age mafic/ultramafic rocks\nhas been exposed for 100 meters, and several mineralized quartz veins have\nbeen discovered at the intrusive contact. On the eastern part of the stripped\narea, the contact zone displays evidence of considerable reworking of the vein\nsystem, and hosts pyrite, galena, sphalerite and tourmaline mineralization. A\npyritic carbonate shear zone approximately 20 meters wide, occurs within the\nmafic/ultramafic rocks adjacent to the contact and is coincident with an I.P.\nchargeability anomaly that has a minimum strike length of 200 meters. Channel\nsampling is presently underway in order to quantify drill targets.\n\n\nThe geological characteristics of the recently stripped area are\nconsistent with typical gold-bearing horizons found in the Porcupine Gold Camp\nMining Division. A defined diamond drilling program will immediately follow\npositive sampling results. The Company is currently awaiting drill results\nfrom its 5-hole drill program that concluded prior to Labour Day.\n\n\nAbout the Mt. Logano Property\n\n\nThe Mt. Logano Property, located east of Timmins, Ontario was recently\nacquired 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 Township and east into Carmen and Cody\nTownships. The Nighthawk Lake gold deposit (Goldcorp Inc.) lies to the east\nwhile the Pamour, Hallnor and Hoyle Pond Mines (Goldcorp Inc.) lie to the\nnorth. The prolific Dome Mine as well as a host of other significant past\nproducing gold deposits are situated to the west of the Mt. Logano Propert...