TORONTO, Aug. 20, 2018 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) announces that a third phase of exploration has defined 4 parallel to sub parallel, gold/silver mineralized zones / trends on the La Tuna Property (the “Property”), located in northern Sinaloa and Sonora states, Mexico. Rock sample and soil analysis, combined with rediscovered artisanal exploration / mine workings, show areas of significant gold/silver values with associated base metal mineralization in 4 mineralized trends over 400 m along strike and 300 m across strike, in the area of La Perdida and La Plomosa artisanal adits. The third phase of exploration in May, carried out by Peter Dimmell, P.Geo, a director of VVC, Jocelyn Pelletier, P.Geo. and Jose Lupe Lopez, personnel from contractor Invesmin St. Michel (ISM), followed evaluations in January and February by ISM personnel, which are described in a news release dated February 27, 2018.
1) The exploration to date, all in La Perdida (LPE) / La Plomosa (LPL) area, in the eastern part of the La Tuna property, has defined four parallel to subparallel, mineralized trends, from north to south, LPE, PP1, PP2 and LPL (see Figures 1 and 2 on the Company’s website and filed on SEDAR) over 400 m along strike and 300 m across strike. LPE and LPL are defined by artisanal adits and pits while the two central ones are defined by pits and rock samples only. Based on the state of the pits and adits, which are overgrown by vegetation, including Saguaro cactus up to 50 cm across, it is estimated that the artisanal mining/exploration took place 40 to 50 years ago at least and there is no evidence of modern exploration, including drilling, in the area.
2) The gold / silver mineralization is associated with base metals and anomalous arsenic with samples with semi massive to massive pyrite / hematite giving the highest values of 61.1 g/t Au and 49.4 g/t Ag at La Perdida and >25 g/t Au and 104 g/t Ag and another grading 0.42 g/t Au and 630 g/t Ag at La Plomosa (see previous news releasefor adit assay info). Pyrite/chalcopyrite in narrow (25 cm) quartz veins in the artisanal pits in the LPL area also give good Au values with a selected grab sample (JP-029) giving 3.1 g/t Au and 158 g/t Ag with 2230 ppm Cu, 9140 ppm Pb and associated As at 1710 ppm from a pit located on Line L2. Mineralization which is variable in grade from background (<10 ppb Au) to the higher grade values, is associated with potassic alteration consisting of white micas (sericite), and pervasive pyrite/hematite.
3) Soil samples were taken to the east and west of the LPL adits, from the A/B horizon, by digging with a shovel until rock was encountered, at approximately 10-25 cm depth with the sample taken above the rock, either talus or outcrop. Results (see Figure 2 on Company`s website) show anomalous areas in Au, Ag and base metals on both lines, associated, but downhill, of the rediscovered artisanal pits. Values range for Au – background (< 10) to 789 ppb, with 8 > 50 ppb, Ag – background (0.2) to 4.36 ppm with 7 > 2 ppm, Cu – background (< 30) to 466 ppm with 4 > 200 ppm, Pb – background (< 50) to 2910 ppm with 5 > 500 ppm and Zn – background (< 200) to 1940 ppm with 3 > 1000 ppm. Background, determined empirically, is considered to be higher than usual, possibly indicating weaker mineralization is present through the area. The soil results fit well, although somewhat downhill, of the 2 new mineralized trends and the adit trend defined in the LPL area, mainly to the north of the artisanal adits.
4) Narrow (1 cm or less) low sulphidation (LS) style banded quartz veins (L1 LS veins) were noted in ignimbrite float cobbles near the top of the hill on soil line L1. No outcropping ignimbrite units were noted and no anomalous values in gold or silver were found. Prospecting up hill, to the south, of the float location was not carried out due to lack of time.
Jim Culver, CEO of VVC, said, “We are particularly excited by the results of the third phase of exploration especially the recognition of four mineralized trends of gold/silver mineralization and that there is no evidence of modern exploration, including drilling, in the area of the artisanal adits and pits that define the trends. The sampling, both of rocks and soils, in a very small portion of the Property, gives high grade gold/silver values at surface. The next step is evaluation of the entire Property to discover and define the mineralized zones and their geological and structural setting, to be followed by a trenching / drilling program.”
About the La Tuna Project
The 100%-owned Property is a 3,532-hectare, early stage exploration property, with a strike length of 9 km, prospective for epithermal, high and low sulphidation gold/silver mineralization, located 65 km to the west of Los Mochis in the Cordillera Madre del Sur. The Property is in the Choix region, < 12 km from Minera Cornay May S.A de CV ‘s Alamo Dorado Mine (7.7M tons at 77 g/t Ag and 0.32 g/t Au). The area is close to infrastructure with roads, water reservoirs, powerlines and railways either close to, or crossing, the Property.
The Property lies in a complex accreted arc terrane that developed during the Mesozoic Era that hosts gold rich, porphyry copper, deposits in other parts of Mexico. The terrane is comprised of an interbedded sequence of bimodal volcanics and volcaniclastics that are weakly deformed. The Sonora tonalite-granodiorite intrusives, tuffs and high sulphidation alteration are interpreted to be a younger event, correlating with the Laramide Orogeny in the Sierra Madre Occidental.
Qualified Person Statement
This news release has been reviewed for accuracy and compliance under National Instrument 43-101 by Peter M. Dimmell, BSc P.Geo. (NL, ON), a VVC Director and Qualified Person (QP) as defined by National Instrument 43−101, Standards of Disclosure for Mineral Projects. Peter Dimmell has approved the scientific and technical disclosure in the news release.
Analysis and QA/QC
VVC applies industry standard exploration sampling methodologies and techniques. All rock samples are collected under the supervision of the company’s geologists in accordance with industry practice. Rock and soil samples were delivered by ISM personnel to the ALS Limited laboratory in Chihuahua, Mexico for sample preparation and then sent to the ALS laboratory in North Vancouver, Canada for analysis. Both laboratories have ISO/IEC 17025:2005 accreditation. Rock samples were analyzed using the fire assay / AA23 technique for gold and the multi-element ICP61 and ME-MS41 for other elements including silver and base metals. Soil samples were analyzed using the AuTLME44 technique which gives Au, Ag and 42 other analyses including base metals. Note: Analytical results from surface rock and soil samples may vary from results from other samples in the same area due to surface oxidation, enrichment processes or natural geological grade variations in the primary mineralization. Results do not necessarily reflect the true values of any in situ mineralization.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company focused on the exploration and development of copper and gold deposits in Northern Mexico, mainly the Samalayuca Copper Property in Chihuahua State. VVC has other projects in Mexico and Canada, including gold / silver prospects in Sonora (Cumeral) and Sinaloa (La Tuna) States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario.
Visit our website at: http://vvcexpl.com.
|On behalf of the Board of Directors|
|Michel J. Lafrance, Secretary-Treasurer|
|For further information, please contact:|
|Patrick Fernet – (514) 631-2727||Eugene Braigen – (646) 245-3409|
|E-mail: [email protected]||E-mail: [email protected]|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.