Vior Announces Earn-IN Agreement ON Its Ligneris GOLD Project, Quebec
VIOR ANNOUNCES EARN-IN AGREEMENT ON ITS LIGNERIS GOLD PROJECT,
QUEBEC
QUEBEC, CANADA, June 27 , 2019 – SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR INC. ("Vior"),
(TSX-Venture: VIO, FRANKFURT: VL51) – is pleased to announce that it has entered into an
earn-in agreement with Ethos Gold Corp (“Ethos”) (TSX -V: ECC) (OTCQB: ETHOF) allowing Ethos
to earn up to a 70% interest in the Ligneris Gold project from Vior. The Ligneris project is
strategically located in the world class Abitibi Greenstone Belt which hosts numerous gold and
base metal deposits and mines.
Highlights of the project
• The Ligneris Project comprises 94 claims covering 36.2 km 2 located 80 km north of
Agnico-Eagle’s LaRonde Complex, and 90 km northeast of Rouyn -Noranda, in Quebec
(see Figure 1 below). The project has easy access through paved and all -weather logging
roads. Basic services are available from the village of Taschereau located 35 km to the
south.
• Mineralized zones are found within an extensive hydrothermal alteration zone that can
be followed over kilometers in strike length and hundreds of meters in width, and that
are encompassed within broad ductile deformation zones. The geochemical signature of
the rocks and mineralization bear many similarities to those at the LaRonde/Bousquet
camp.
• Previous work by Vior (1984 -1986), Placer Dome (1987 -1990) and Barrick (1997)
included 204 drill holes for approximately 40,000 meters mostly clustered around the
mineralized zones on the project. 75 of these 204 holes crosscut significant gold and/or
zinc intercepts. Only 7 holes reached over 300 meters in depth.
• Mineralization consists of disseminated pyrite and vein lets of sphalerite associated with
strong pervasive carbonatization and sericitic altera tion within dacitic volcanics. The
mineralization was recognized in most of the holes in the South, Central and North
zones. Highlights of historical intercepts include:
PRESS RELEASE
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Company
Zone
Hole #
Dip
Azimuth
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Placer Dome South 275-073 -60 N330 173.9 184.5 10.6 13.47
Vior South LS-05 -45 N360 217.2 223.2 5.94 5.15
Placer Dome South 275-95 -58 N240 180.7 183.6 2.9 62.0
Placer Dome Central 275-53 -50 N330 163.0 187.0 24 0.91
Placer Dome Central 275-51 -50 N330 32.3 33.0 0.69 73.0
Vior Central L84-04 -45 N360 47.3 52.7 5.43 4.92
Placer Dome North 275-27B -57 N150 97.4 98.0 0.63 70.0
Placer Dome Central 275-141B -75 N150 306.6 308.0 1.45 2.79% 216
Vior Central L84-04 -45 N360 133.0 138.9 5.88 1.90% 13.6
The qualified person has not verified the drilling data disclosed in this release, including
sampling data and assays. These data come from historical reports made between 1984 and
1990 by Sigma Mines Ltd., Placer Dome Inc. and Vior.
• A recent comprehensive airborne VTEM survey by Vior, conducted by Geotech, defined
12 clusters of deeper targets. Ethos will now commence a comprehensive compilation of
previous data, ground based geophysics, and further surface sampling and mapping.
This work will be utilized to fine tune deeper targets for drilling.
• Drilling will test these deeper targets below 300 meters.
• Previous exploration work including drilling by Placer Dome Inc. and Vior has also
identified shallower, high grade targets, and recommended induced polarization (“IP”)
geophysics followed by d rilling to test these targets. Ethos will also pursue these
shallower targets.
• Drilling is planned fo r the fall and winter of 2019. Drilling can c ontinue throughout the
winter . This program will utilize some of the unallocated flow through funds that Etho s
currently holds.
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Figure 1. Ligneris property map showing historic drilling and geophysical targets defined to
date.
Earn-In Agreement Terms
Ethos can earn a 51% interest in the Ligneris Project by paying Vior 1.0 million in Ethos shares
and incurring $3.0 million in expenditures over the first four years of the agreement, according
to the following schedule:
Work Commitment Ethos Shares
Upfront 200,000
Year 1 $750,000 225,000
Year 2 $750,000 250,000
Year 3 $750,000 325,000
Year 4 $750,000
Total $3,000,000 1,000,000
Following an earn-in of 51%, Ethos will have 60 days to elect to earn a further 19% interest (70%
interest) by spending an additional $4 million over the subsequent three years.
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Stated Mark Fedosiewich, Vior’s President and CEO, “We are excited to work with Ethos’
outstanding technical and management team. This is an opportunity to take a fresh new look at
a highly prospective project that has seen little exploration in well over 20 years and to initiate
the first ever systematic drill program at depth on this project. Historic work at Ligneris has
defined a large mineralized system , including some significant drill intervals of gold. Ligneris
exhibits many similarities in geology and mineralization to Agnico Eagle’s LaRonde mine which
reaches depths of over 3000 meters. L ittle historic drilling below a depth of 300 meters has
occurred at Ligneris . A recent deep EM airborne survey has identified multiple geophysical
targets at deepe r levels than were ever drilled. The plan is to refine these targets with ground
based geophysics and begin to drill them in fall/ winter 2019. Ethos has approximately $1.4
million in unallocated flow through funds to spend in 2019 , and after reviewing dozens of
projects, believes that Ligneris is an outstanding project to pursue with these funds. The Vior
team, led by their VP Exploration, Ma rc L’Heureux, P.Geo., M.A.Sc., will be the operator of the
program at Ligneris. In addition to leading Vior’s recent work at Ligneris, Marc spent 4 years
working in the Bousquet Camp which is part of the LaRonde complex, providing him with a
deep understanding of the LaRonde type model.”
The technical content disclosed in this press release was r eviewed and approved by Mr. Marc
L'Heureux, P.Geo., who is the Company's Qualified Person as per NI 43-101.
About Vior
Vior is a junior mining exploration company based in Quebec whose corporate strategy is to
generate, explore, and develop high quality p rojects in proven and favourable mining
jurisdictions in North America. Through the years, Vior’s management and technical team have
demonstrated their ability to discover several gold deposits and many high -quality mineral
prospects.
For further information, please contact:
Mark Fedosiewich Marc L’Heureux
President and CEO Vice-president, Exploration
Tel.: 613-898-5052 Tel.: 450-646-1790
[email protected] [email protected]
Website: www.vior.ca
SEDAR: Société d’exploration minière Vior inc.
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the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.