Welcome To The Vault Minerals INC HUB On AGORACOM

An aggressive exploration company focused on the acquisition of and exploration for gold in Northeastern Ontario, Canada.

Message: Vault Intersects 15.9 gAu/ton Over 1.0m in First Drill Hole at Boundary Zone

Vault Intersects 15.9 gAu/ton Over 1.0m in First Drill Hole at Boundary Zone

posted on Jan 05, 2010 09:11PM

Vault Intersects 15.9 gAu/t over 1.0 m in First Drill Hole of Program at Boundary Zone

("Vault" or the "Company") announces that a 3,100 m Phase I diamond drill
program has recommenced on its 100%-owned Lebel property, subsequent to the
holiday break. The Company also reports results of the first drill hole of the
program, including an intersection of 15.9 gAu/t over 1.0 m (5.5 gAu/t over
3.5 m), located approximately 48 m below surface at the Boundary Zone.
	    "It is gratifying to see immediate progress in Vault's renewed effort to
develop near-term gold resources since regaining control and direction of the
property." noted Joe Horne, Vault's President. "By pursuing numerous
high-grade and open-pit targets that have been generated by limited previous
drilling, the potential of the property may be significantly and quickly
	    The Boundary Zone is hosted on one of nine major mineralized structures
identified on Vault's 3,100-acre Lebel property situated in the prolific
Kirkland Lake gold camp, where in excess of 24 million ounces of gold have
been produced at a recovered grade of 16.1 gAu/t (0.47 oz/ton). The Boundary
Zone consists of three, sub-parallel mineralized structures located 1,000 m
east of the past-producing Bidgood Mine that historically produced 165,000 oz
gold at a recovered grade of 9.2 gAu/t (0.27 oz/ton). These structures extend
at least 200 m on surface along strike with minimal trenching or drilling
having been carried out.
	    The intersection of 15.9 gAu/t over 1.0 m lies within a broader, lower
grade mineralized zone that averages 2.4 gAu/t over 9.0 m or 1.7 gAu/t over
14.5 m. This first drill hole is a 30 m 'step-out' northeast of a recent
trench on the Perreault Zone where chip sampling returned an average of 5.1
gAu/t across 3.0 m along an 18 m strike length, including one chipped line of
8.9 gAu/t over 3.2 m. As previously reported, individual higher grade assays
within the trench include 42.5 gAu/t over 0.4 m, 41.2 gAu/t over 0.5 m and
16.9 gAu/t over 0.6 m. Strong mineralization was observed in the trench up to
where it became covered by swamp.
	    The drill hole is the first of several proposed holes intended to define
a higher grade, near-surface zone, as observed by surface trenching, and that
may be included in a broad, lower grade open-pit scenario. The three zones are
hosted within a porphyry unit with minor mudstone and wacke sequences. The
anomalous gold zones are easily identified with up to 20% pyrite
mineralization in penetrative fractures, 15 to 60% quartz-ankerite veining,
and strong pervasive silica-chlorite-sericite alteration; all of which are
strongly sheared.

	    Qualified Person and QA/QC Program

	    The technical content of this press release has been reviewed and
approved for disclosure by Michael Sutton, P.Geo, Vault's Vice-President,
Exploration, who serves as a Qualified Person for the purposes of National
Instrument 43-101 (Standards of Disclosure for Mineral Projects). The Company
has instituted a quality assurance and quality control (QA/QC) program to
ensure sampling and analysis of all exploration work is conducted using
industry best practices, including assay control samples. True widths are
estimated to be approximately 70% of core length.

	    About Vault

	    Vault Minerals Inc. is a Canadian junior gold exploration company active
in the world-renowned Kirkland Lake gold camp of northern Ontario. The
Company's capital consists of 40,104,543 issued and outstanding common shares
which are listed for trading on the TSX Venture Exchange under the symbol
'VMI'. For further information, please contact Joe Horne, President at 902 402
8266 or visit www.vaultminerals.com.

	    On behalf of the Board of

	    signed "Joseph D. Horne"
	    Joseph D. Horne, President & CEO

	    This Press Release may contain forward-looking statements that involve
inherent risks and uncertainties. Actual events or results could differ
materially from the Company's forward-looking statements and expectations, and
the Company disclaims any obligation to update these forward-looking

	    "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 this release."

New Message
Please login to post a reply