Visible Gold Mines Acquires from Prospectors a 100% Interest in 55,5 Sq Km of Prospective Land Adjacent to Northern Superior Lac Surprise Gold Project and Visible Gold Mines Horsefly Gold Property in the Nelligan/Lac Surprise Region
Visible Gold Mines Acquires from Prospectors
a 100% Interest in 55,5 Sq Km of Prospective
Land Adjacent to Northern Superior Lac
Surprise Gold Project and Visible Gold Mines
Horsefly Gold Property in the Nelligan/Lac
Surprise Region
ROUYN-NORANDA, QC
, Jan. 5, 2021 /CNW Telbec/ -
Visible Gold Mines Inc.
(TSXV: VGD)
(OTCQX: VGMIF) (
FRANKFURT
: 3V41) is very pleased to announce that it has acquired a non
royalty 100% ownership interest in 99 mining claims covering 5551.66 hectares directly adjacent to
Northern Superior's Lac Surprise Gold Project and Visible Gold Mines' Horsefly Gold Project.
The mining claims are located along the Doda & Pambrun deformation zones where numerous
historical gold/copper showings have been identified over the years. A digital compilation and
synthesis of all the historic work on the Doda/Horsefly acquisitions and the newly acquired Phooey
Lake Project will be completed in the coming weeks. A Stage 2 exploration program will be
considered as early as the end of
March 2021
on any newly generated gold targets. The program
may include airborne and/or ground geophysical surveys with additional diamond drilling if warranted.
Visible Gold Mines claim location map (CNW Group/Visible Gold Mines Inc.)
Martin Dallaire
, President and CEO of Visible Gold Mines stated, "With the additional acquisitions,
the Visible Gold Mines land package in this area has exceeded 17,500 hectares. The acquisition
places Visible Gold Mines as one of the top 3 claim owners in the area and demonstrates to our
shareholders that our exploration activity will be focused in the Nelligan (Renard) and Lac Surprise
(Epervier Zone) gold discovery sector".
The terms of the Acquisition
Pursuant to the terms of the agreement and subject to the regulatory approval, including that of the
TSX Venture Exchange, Visible Gold Mines will acquire 100% ownership interest in the 99 mining
claims comprising Horsefly "extension" and Phooey Lake for a consideration of a
$15,000Cdn
cash
payment to the Vendors and by issuing 600,000 common shares to the Vendors. The 99 claims are
not subject to any royalty in favor of the Vendors.
Qualified Person
Robert Sansfaçon, P.Geo, senior geologist and Visible Gold Mines' vice-president exploration, is the
qualified person for Visible Gold Mines' properties under National Instrument 43-101 -
Standards of
Disclosure for Mineral Projects
, responsible for the technical contents of this news release, and has
approved the disclosure of the technical information contained herein.
About Visible Gold Mines Inc.
Visible Gold Mines is a corporation focused on gold in the prolific
Abitibi Gold Belt
and the Bay
James region in the province of Québec. The Corporation has 30 864 539 common shares
outstanding.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking information may include,
among others, statements regarding the future plans, costs, objectives or performance of Visible
Gold Mines, or the assumptions underlying any of the foregoing. In this news release, words such as
"may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate"
and similar words and the negative form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of future performance or results, and
will not necessarily be accurate indications of whether, or the times at or by which, such future
performance will be achieved. No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, including the development of the properties.
Forward-looking information is based on information available at the time and/or management's
good-faith belief with respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of which are beyond Visible Gold
Mines' control. These risks, uncertainties and assumptions include, but are not limited to, those
described under "Risk Factors" in the management's discussion and analysis of Visible Gold Mines
for the fiscal year ended
July 31, 2020
and under "Financial Instrument Risks" in Visible Gold Mines'
Annual Report for the fiscal year ended
July 31, 2020
, copies of which is available on SEDAR at
www.sedar.com
, and could cause actual events or results to differ materially from those projected in
any forward-looking statements. Visible Gold Mines does not intend, nor does Visible Gold Mines
undertake any obligation, to update or revise any forward-looking information contained in this news
release to reflect subsequent information, events or circumstances or otherwise, except if required
by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the
release.
SOURCE
Visible Gold Mines Inc.
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For further information:
Martin Dallaire, President and Chief Executive Officer, Telephone: 819-
762-0107, Fax: 819-762-0097, E-mail: [email protected], Website:
www.visiblegoldmines.com
CO: Visible Gold Mines Inc.
CNW 10:32e 05-JAN-21