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Vencan Gold resumes drilling, signs Letter of Intent with Falconbridge, tops up financing
Vencan Gold resumes drilling, signs Letter of Intent with Falconbridge, tops up financing.
About this update from Rpx Gold Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Sept. 8 /CNW/ - Vencan Gold Corporation is pleased to report\nthat the summer's extreme forest fire conditions on its Cayenne & Chili\nProperties and surrounding areas in the Abitibi/Swayze Greenstone Belt have\nsubsided and we have been given permission by the Ministry of Natural\nResources to resume our exploration program.\nKirk McKinnon, President & CEO stated that \"the fall drill program got\nunderway on September 8th. It is unfortunate that these conditions slowed us\ndown but the safety of the crew and participation in fire prevention was fully\nnecessary. We look forward to a successful fall exploration program and the\nopportunity to explore this large enriched land position.\n\nDrilling Resumes\n----------------\n\nA 1200 to 1500 metre drilling program consisting of 12-15 drill holes\nhave been outlined, to test at depth and along strike in the area of the \"Main\nShowing\" on the Central Cayenne Property. As well, selected new additional\ntargets outlined by the geophysical surveys and mapping/prospecting on work\njust completed will be included in this drill program. The recently completed\nexploration program and current drill program is being managed by Alan Sexton,\nP. Geo.\n\nFalconbridge/Vencan Letter of Intent\n------------------------------------\n\nVencan Gold is pleased to announce that the Company has signed a Letter\nof Intent to acquire six contiguous claims owned by Falconbridge Limited on\nVencan's Cayenne East Property. This property represents a VMS/Gold\nopportunity. A 1996 Falconbridge Annual Report on the property states, \"The\npotential for base metal mineralization on the property remains high and the\narea with the best potential remains to be the northeastern part of the claim\nblock located in the Genoa Township. This report further states \"The potential\nof the Burton Conductor should be evaluated in the next phase of exploration\non the property\". The Burton Conductor is located on Vencan's Cayenne East\nProperty east of the Falconbridge claim block.\n\nThe main points of historical exploration interest on the Falconbridge\nclaims are\n\n- A mineral inventory estimate was completed on the Jefferson Mines Ltd.\n discovery by Duncan R. Derry in 1948. This estimate was completed to a\n vertical depth of 30.5 meters and used narrow mineralized widths for\n each len...