13:51:06 EDT Fri 19 Apr 2024
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Vior Inc (2)
Symbol VIO
Shares Issued 82,974,749
Close 2022-07-18 C$ 0.135
Market Cap C$ 11,201,591
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Vior drills 15.85 m of 1.28 g/t Au at Belleterre

2022-07-19 10:19 ET - News Release

Mr. Mark Fedosiewich reports

VIOR INTERSECTS HIGH-GRADE GOLD-BEARING QUARTZ VEINS AND PROVIDES EXPLORATION UPDATE AT BELLETERRE

Vior Inc. has released results from its phase II drill program and has provided an exploration update on its flagship Belleterre gold project. The phase II program targeted select areas adjacent to the historic mine workings at shaft 2 and shaft 3 to better understand the structural controls on high-grade gold mineralization at Belleterre. The 12W deformation structure, located directly on strike with shaft 3, returned the strongest intercepts from multiple holes, including zones of one to 15.85 metres of quartz veining, shearing and pervasive quartz flooding. Hole BV22-011 returned the highest-grade intercept of 1.35 m grading 12.87 grams per tonne Au within 15.85 m grading 1.28 g/t Au. Hole BV22-011 intercepted high-grade gold associated with quartz veining and contained very fine disseminated visible gold (VG) throughout the vein intercept. Vior has now drilled six core holes along the 12W deformation zone and defined over 500 m of strike with the system open to the southwest and at depth.

Mark Fedosiewich, president and chief executive officer, stated: "In a short period of time, we have retransformed our exploration portfolio by consolidating the district-scale gold project at Belleterre, one of the highest-grade historic gold mines in Quebec. Belleterre was historically known as a high-grade narrow-vein gold mine, however, our team is very encouraged by the thicker, shear-hosted style of mineralization observed in our first two drill programs, which is common across multiple greenstone belts in Ontario and Quebec. Phases I and II have confirmed the potential to expand historically mined veins along strike and at depth as well as make new discoveries along several recently identified gold-bearing structures. Belleterre exhibits exceptional exploration upside and there are many past and current examples of new discoveries in historic gold mining camps that have resulted in tremendous value creation for junior explorers. Vior's value creation process is well under way at Belleterre."

Highlights include:

  • High-grade intersect on the 12W structure: 12.87 g/t Au over 1.35 m included in 1.28 g/t Au over 15.85 m in hole BV22-011;
  • All holes drilled on the 12W structure confirmed a robust gold structure showing over 13 m of continuous quartz veining in hole BV22-13, with some local quartz veins containing VG in holes BV22-010 and 11;
  • The 12W structure remains open at depth and laterally. Gold grades appear to correlate with the intersection of a secondary northwest-southeast structural orientation also observed at the mine. This orientation could be a key structural control to the gold-bearing mineralization.

Vior has intersected gold on most drill holes since drilling was initiated at Belleterre. Of 15 holes drilled by Vior in phases I and II, 10 returned prospective gold intercepts in strongly altered and mineralized quartz veins, indicating a high rate of success, and highlighting the discovery potential at the Belleterre camp. The 12W deformation zone shows promising exploration potential and is defined by a 20 to 30 m wide shear zone that exhibits pervasive quartz flooding and veining with a mineral assemblage of pyrite-pyrrhotite and visible gold. Lower-grade Au has been observed throughout the 12W deformation zone while higher-grade Au is typically constrained to discrete one to three m wide quartz veins on the hangingwall and/or the footwall sides of the shear. These two preliminary drill programs are still very early in the exploration process, and form part of Vior's systematic exploration strategy that is building the foundation for a robust structural model.

Summer 2022 field exploration program and future plans

Vior is well under way in its extensive summer 2022 field exploration program at Belleterre that will run through mid-August, 2022. The fieldwork will consist of mapping, rock sampling and characterization of mineralized zones. The main focus will be on the recently optioned claims from Osisko Mining Inc., but will also include several other promising areas surrounding the historic Belleterre mining camp. The key objectives for this field program will be to discover new gold showings and structures, and to field-proof Vior's geological model. The team will also follow up on geophysical targets originating from the high-resolution Novatem G2 survey at Belleterre and look to develop high-priority drill targets for future drill programs.

Skyfall -- claim acquisition

Vior has signed a purchase agreement whereby it will acquire from a prospector a 100-per-cent interest in 24 claims covering 1,355 hectares next to the Skyfall property, in consideration for the issuance of 40,000 shares of the corporation, subject to approval by the TSX Venture Exchange.

The Belleterre project

The property is located near the town of Belleterre in the Abitibi-Temiscamingue region of Quebec, 95 kilometres south of Rouyn-Noranda, Que. The property consists of 551 claims covering 30,258 hectares (302.6 square km), and forming a district-scale exploration package that extends over a strike length of 37 km. The project includes the option to acquire the former high-grade Belleterre gold mine that produced over 750,000 ounces gold at 10.73 g/t and 95,000 oz silver (Ag) at 1.73 g/t between 1936 and 1959. The property has been underexplored for the past 60 years and has never been the subject of such significant consolidation until now.

About Vior Inc.

Vior is a hybrid junior mining exploration company based in Quebec, whose corporate strategy is to generate, explore and develop high-quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior's management and technical teams have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.

Quality assurance/quality control controls

Vior has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with industry best practices, including certified reference material (CRM) standards and blank material inserted every 20 samples. Sample preparation and gold analyses were performed either at Activation Laboratories Ltd. (Actlabs) in Sainte-Germaine-Boule, Que., or by SGS Canada Inc., with a preparation of samples performed at the SGS Val d'Or with analysis of samples performed at the SGS Burnaby site in British Columbia. All samples were analyzed for gold by fire assays (50 grams) with an atomic absorption finish or inductively coupled plasma atomic emission spectroscopy technic. Repeats were carried out by fire assay (50 g) followed by gravimetric testing on each sample containing more than three g/t Au. Selected samples are also analyzed for multielements, including silver, using a four-acid digestion finish ICP-MS (mass spectrometry) method.

Qualified persons

The technical content disclosed in this press release was reviewed and approved by Laurent Eustache, executive vice-president, and Christian Blanchet, operations manager for Vior, both qualified persons as per National Instrument 43-101.

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