Jun 07, 2010 08:28 ET
VG Gold's Paymaster West Project Returns Highest Gold Grades Yet
1,850 Grams Per Tonne Gold Over 0.9 Metres (53.96 opt Over 2.8 Feet)
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TORONTO, ONTARIO--(Marketwire - June 7, 2010) - VG Gold Corp., (TSX:VG)(FRANKFURT:VN3)(OTCBB:VGGCF) is pleased to announce new core results from the Paymaster West Property located in Timmins, Ontario. These encouraging results continue to demonstrate the potential for 1) narrow high-grade mineralization, including the richest gold grades to date from the project, and 2) bulk tonnage open pit potential. The project is situated next to Goldcorp's Dome Mine, which has produced 17 million ounces of gold.
1) Highest-Grade Yet From Paymaster
1,850 gpt gold over 0.9 m (53.96 opt over 2.8 ft)
Hole VGP-10-74 encountered a very rich intersection of gold mineralization that returned 1,850.0 gpt gold over 0.9 m (53.96 opt gold over 2.8 ft) at a vertical depth of only 50 ft (15 m). This new occurrence is adjacent to one of the porphyry zones which have been the primary target of VG Gold's drilling. However, this is not the first time rich grades have been encountered in this geological setting at Paymaster. Examples of previous results include 129.5 grams per tonne (gpt) gold over 0.9 m (3.78 opt gold over 3.0 ft) and 1,390.0 grams per tonne of gold over 0.9 m (40.54 over 3 ft). This is an exciting development, since it illustrates the potential for new areas of high grade gold mineralization at the Paymaster Project.
