Vible Gold Mines Inc. announced the expansion of its wholly-owned Horsefly property through the acquisition of a 100% undivided interest in 304 mining claims (the "Property"), located immediately west of and contiguous with IAMGOLD's Nelligan Mining Complex in the Chibougamau Mining Camp in Quebec. The Horsefly property, now comprising 392 mining claims, is strategically located in the Eeyou Istchee James Bay region of Quebec, approximately 140 km northeast of Lebel-sur-Quevillon and 45 km southwest of Chapais. The property is situated within the prospective Chibougamau volcano-sedimentary belt -- a geological setting recognized for its gold-bearing potential.
Historical work has outlined several prospective gold occurrences across the Horsefly property, highlighted by the Chemin Barrette-Ouest showing, which shares several similarities with the Nelligan gold showing, and a 9.26 g/t Au, 0.24% Cu grab sample at Lac Phooey. Diamond drilling further returned anomalous intercepts of 18.13 g/t Au over 1.65 m (Lac Phooey, LAN-07), and 1.10 g/t Au over 1.,00 m (H-1455-002). The shares to be issued pursuant to the agreement is subject to a resale restriction period of four months and one day.
All scientific and technical information of this press release has been reviewed and approved by Louis Martin, P.Geo. (OGQ), a consultant to the Company and a Qualified Person for the purposes of NI 43-101. Mr. Martin has reviewed and verified the historical assay results and noted no errors or omissions during the data verification process.
The Company and Mr. Martin do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the historical assay data and exploration results disclosed in this news release.
