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VISIBLE GOLD MINES ACQUIRES IAMGOLD'S 40% STAKE IN THE CAPRICORN GOLD PROPERTY
VISIBLE GOLD MINES ACQUIRES IAMGOLD'S 40% STAKE IN THE CAPRICORN GOLD PROPERTY
About this update from Visible Gold Mines Inc.
[{"type":"text","content":"\n\n\n\n Nov. 2, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n THE UNITED STATES\n\n\nROUYN-NORANDA, QC, Nov. 2 /CNW Telbec/ - Visible Gold Mines Inc. (VGD :TSXV and 3V4:FRANKFURT) is pleased to announce that it has entered into an agreement to acquire\n 40% of the Capricorn property, comprised of 18 mining claims (367\n hectares) in the Beauchastel and Rouyn townships, Province of Québec,\n from IAMGOLD Corporation ("IAMGOLD")(TSX:IMG, NYSE:IAG).\n\n\nMartin Dallaire, President and CEO of Visible Gold Mines stated, "The\n Capricorn property is strategically located immediately adjacent to and\n along strike of the former Silidor Gold Mine that we recently bought\n from Newmont and IAMGOLD. Our primary target will be to search with our\n Joint Venture partner Marshall Minerals for fractures and veins-hosted\n gold deposits analogous to that on the adjoining Silidor property "\n (see map http://www.visiblegoldmines.com/images/property/1_SilidorGoldMinesAndShowings11x17.pdf).\n\n\nThe material terms of the transaction are as follows:\n\n\n\n\nMake a cash payment of $30,000 upon signature of the Agreement;\n\n\nMake one single payment of $500,000 upon the completion of a bankable\n feasibility\n\n\n\n\nA ten percent Net Profits Interest on mineral production from the\n property is retained by the original owners.\n\n\nCapricorn Property Geology\n\n\nThe Capricorn property is underla...