TORONTO, Oct. 5 /CNW Telbec/ - VVC EXPLORATION CORPORATION ("VVC" or the
"Company") announces that its joint venture company, Tong Guan Glory Mining
Corporation ("CJV") will commence drilling its recently acquired NQ512 gold
vein to test the deep seated and lateral east-west orebody extensions. The
drilling campaign, consisting of 4 holes over 1,500 meters, will be conducted
from underground on the NQ512 adits and drifts. The CJV, owner of the gold
producing Xing Tong mine, acquired 50.1% of this new promising project in
partnership with Shaanxi Hongyuan Industry Co. Ltd (49.9%).
The CJV is currently mining this vein at a rate of 150 tons per day. The
vein can be followed horizontally over 250 meters, on three mining levels and
appears open in all directions. Ore extracted is being processed at the Hong
Yuan plant under a processing agreement contract. The NQ512 is believed to be
a significant extension of the Q512 vein, also currently being mined by the
CJV some 1.3 km South East, under Permit 512.
"The recent acquisition of the drill and the forthcoming exploration
campaign will allow the CJV to add a new dimension in our growth strategy
based exclusively on acquisitions until now", stated Mr. Jean-Paul Boily,
President and CEO of VVC. "The drilling of NQ512 will provide new clues and
open a new window on the high potential of this gold bearing vein, with good
potential for sizable deep extension, including, possibly, a major, underlying
orebody. Nevertheless, we will continue negotiations already underway for the
acquisition of other very interesting gold bearing veins currently exploited
by local private artisanal miners."
Following completion of this initial drilling campaign targeting NQ512,
the new launched drilling campaign is expected to move to other locations over
the course of the Fall and the Winter to define and test the other numerous
vein Au deposits currently mined and owned by the CJV and probe the possible
deep extensions of this family of gold bearing veins.
About VVC:
----------
VVC Exploration Corporation is a Canadian exploration company with
properties in Canada and China. Its main assets are the participation of VVC
in Joint Ventures in producing gold mines in China, and its participation in
the Beaver Brook Antimony Mine in Newfoundland, Canada. The Company's
objective is to generate significant cash flow from operations in order to
aggressively pursue other projects in China. Please visit our Website at
www.vvcexploration.com .
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
On Behalf of the board of Directors
Michel J. Lafrance, Secretary-Treasurer
%SEDAR: 00007564E
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