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2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
819.824.2808 (main)
819.824.3379 (fax)
Uranium Valley Mines: Fieldwork Underway at the Porcupine Miracle Gold Prospect
Val-d’Or, Québec – June 20, 2017 – Uranium Valley Mines Ltd. (NEX:VZZ.H) (the
“Company”) is pleased to announce that ground fieldwork is currently underway at the
Porcupine Miracle Prospect, located in Langmuir Township, 30 km south of Timmins, Ontario.
The exploration program consists of establishing a grid over the property and conducting ground
magnetic and induced polarization (IP) geophysical surveys . Contingent on these results, a
follow-up program of in-fill geophysical surveying at 50m line spacing is planned, in addition to
a prospecting and sampling program.
The Porcupine Miracle Prospect is located on the south flank of the Shaw Dome which extends
south from the Destor Porcupine Fault east of Timmins. Outcrop exposure, for the mos t part, is
fair on the property , especially near two old documented (and observed) shafts. The area is
underlain by ultramafic volcanic rocks intruded by hematized east -west trending felsic dykes.
The ultramafic rocks are generally well chloritized and locally strongly carbonatized. The
hematized felsic dykes are often injected by significant quartz veining along with pyrite
mineralization. Structurally, an important northeasterly trending shear zone crosses the property
and seems spatially associated with carbonatization of the ultramafic rocks. A second WNW
trending fault occurs just north of the Main Shaft.
Historical work on the property is limited. OGS Annual reports for 1915 and 1916 refer to more
than 200 feet (61 metres) of shaft sinking and 300 feet (91.4 metres) of underground
development near the south limit of the current property completed by Porcupine Miracle Co .
Although the reports also mention the construction of a 60 ton -per-day mill, there are no record s
of underground assay results.
The last recorded work over the current property was conducted in 1996. Th at program included
line-cutting, geological mapping, geophysical surveying and a 679 metre diamond drilling
program. Most drill holes tested IP anomalies and/or the area near the two shafts. Although a
well-mineralized quartz stockwork hosting up to 70% pyrite in hematized felsic d ykes was
observed, only weakly anomalous gold values were reported . The highest assay result wa s 0.26
g/t Au (0.008 opt Au).
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The C ompany has an option to acquire a 100% interest in the Porcupine Miracle Prospect,
subject to a 3% NSR (see press release dated July 9, 2014).
Michael P. Rosatelli, M.Sc., P.Geo and a senior geological consultant to Uranium Valley Mines,
is the designated “qualified person” as defined in Section 1.2 in and for the purposes of National
Instrument 43-101 that reviewed and approved the technical content of this release.
For additional information, please contact:
Glenn J. Mullan, Chief Executive Officer
Telephone: (819) 824-2808 - Head Office
(514) 835-8384 - cell phone
Email: [email protected]
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward -looking statements.
Forward looking statements are statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”,
“would”, “may”, “could” or “should” occur. Although the Company believes the expectations
expressed in such forward- looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or realities may differ
materially from those in fo rward looking statements. Forward looking statements are based on
the beliefs, estimates and opinions of the Company’s management on the date the statements are
made. Except as required by law, the Company undertakes no obligation to update these
forward-looking statements in the event that management’s beliefs, estimates or opinions, or
other factors, should change.
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in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.
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HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND
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