Visible Gold Mines (VGD, TSX-V) Update

Visible Gold Mines (VGD, TSX-V) has generated a lot of interest, and deservedly so, for its astute strategy in assembling its 167 Project land package (600 sq. km) in Quebec’s Plan Nord territory and using a road building program to identify the potential existence of Gold deposits over this vast virgin ground…an extensive drill program that started at the end of January, just off new Provincial Road 167, is attempting to locate the source of impressive mineralized boulders, some of which returned exceptionally high grades…

Instant drilling discoveries in a grassroots situation such as this are relatively rare, so who knows at what point VGD may hit something big, but anything is possible and 1 thing is probable in our view – the rocks are “cooked up” in this district and that tells us there are some exciting discoveries to be made…aggressive drilling is the only way to go at this, and the odds get better with each hole…VGD is attacking this the right way and has an exceptional geological team that includes Robert Sansfacon, 1 of the best in the business in Quebec…

Keep in mind, the last major discoveries in the James Bay area, Goldcorp’s (G, TSX) Eleonore mine and Stornoway’s (SWY, TSX) Renard diamond project, were both found by boulder tracing in glaciated terrain…

Initial drill results are pending from VGD which announced on February 25 that 10 holes in the program had been completed up to that time over a broad area…

Technically, VGD has remained within an upsloping channel since December…support has been strong at the bottom of this channel which also coincides with some Fib. levels…results, of course, will dictate whether VGD breaks out of this current pattern to the upside or the downside…nothing would be better for the junior exploration market than a major grassroots drilling discovery in Canada, so all investors should be rooting for VGD’s success…

VGD is up half a penny at 19 cents as of 8:50 am Pacific…