VVC Exploration Corporation ("VVC" or the "Company") (TSX VENTURE:VVC) is
pleased to announce the results of due diligence evaluations of the Samalayuca
copper/silver property in Chihuahua State, and the Escondida gold/silver
property in Sonora State, owned by Camex Mining Development Group Inc. as part
of the acquisition of Camex by VVC, and the results of reverse circulation (RC)
drilling on VVC's Cumeral gold/silver Property, in Sonora State, Mexico. The
three properties were visited and evaluated by Peter Dimmell, P.Geo., a QP and a
director of VVC, over two days in early July 2013.
Cumeral (VVC)
The Cumeral property totals 6 claims (6638 Ha), and is located 70 km to the
south of Nogales on the US border in northern Sonora State, MX. The RC drilling
was carried out by contractor, Drilling One, from its regional office in
Cuauhtemoc, Chihuahua, Mexico and was the first phase of drilling based on the
recommendations of the Company's exploration team. A total of 1,020 meters in 14
drill holes tested five mineralized areas (Areas A,B,C,E,F) for extensions to
the east, down dip, on the stratigraphy of the known mineralized structures.
Intersection of the water table in some of the holes made the recovery of the
rock unit fragments difficult in these areas. The drilling is summarized below:
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Number of Hole Total Number
Area Drill Holes Numbers Meters of Samples
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A 1 14 100 100
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B 3 3,10,11 280 280
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C 4 1,2,4,5 310 310
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E 4 6-9 220 220
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F 2 12,13 110 110
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Total 14 1020 1020
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Results were not encouraging for a mineralized system dipping to the east along
the stratigraphy and fault systems as the exploration team had envisaged. No
strong gold values over good widths such as the results from RC hole 2010-1 in
Area B which gave 1.45 g/T Au and 6.74 g/T Ag over 14 m including 4 m at 4.19
g/T Au and 17.65 g/T Ag (NR Sept. 21, 2010) were intersected. Three holes gave
values over 1 g/T over 1 m including RC-1 - 1.03 g/T - 52-53 m; RC-5 - 1.32 g/T
- 67-68 m; and RC-12 - 1.06 g/T - 29-30 m. Three values greater than 0.5 g/T
were noted - RC-7 - 0.59 g/T - 16-17 m; RC-12 - 0.74 g/T - 10-11 m; and RC-13 -
0.54 g/T - 9-10 m; The widest section carrying anomalous gold values was located
in RC-9 - 0.183 g/T / 6 m from 16-22 m. Other narrow zones in the 1-2 m range
were also noted. Gold values were associated with zones carrying disseminated
pyrite. No drill holes tested possible vertical or westward extensions of the
zones located in the 2010 drilling and this potential will be tested in the next
drill phase.
Check sampling using different methods, including a metallics screen analysis
which gives total contained gold (Au-SCR21) at ALS Chemex gave similar results
to the original values indicating that the values in the original sampling are
most likely reflective of the actual values drilled unless there was a loss of
gold/silver mineralization in the drilling, since the samples are brought to
surface by entrainment in compressed air provided by the drill. The drill holes
were sampled at 1 m intervals throughout the entire length of each hole, with
the samples shipped to the ALS Chemex Laboratory in Hermosillo, Sonora for gold
analyses using technique Au-AA25. Prior to analyses the samples were prepared by
drying, crushing to -10 mesh with 1 Kg (obtained by splitting) crushed to -70
mesh with a 200 g sample (obtained by splitting) pulverized to -200 mesh and a
30 g sample split analyzed.
No diamond drilling has been carried out and the RC drilling has been by air
track type drills which may not properly test the mineralized units. A phase 2
diamond drill program is planned to test the area of the known gambusino
(artisinal) mineralization and the mineralized zones located in the 2010
drilling campaign. This program will give structural, lithological and
alteration information that is more difficult to derive from the RC drill holes.
In June 2012, VVC announced the results of a geological mapping, rock and soil
geochemical exploration program in the southern segment of the Cumeral property
as a part of a National Instrument 43-101 report on the Property prepared by
independent geological consultant Michel Boily, PhD, P. Geo., which is filed on
SEDAR. Results from the mapping and rock sampling programs show anomalous gold
values ranging from 0.5 to greater than 10 g/t in hematized/pyritized quartz
veins/veinlets associated with mylonitized units, located in gently
eastward-dipping, low-angle (20 degrees to 40 degrees ) faults. Geological
mapping in the southern part of the property shows at least ten gold-mineralized
structures generally confined to areas tested by the air track (RC) drilling
program in 2010 (NR Sept, 21, 2010). Results for a soil geochemical survey, to
the northwest of the known mineralization, located three anomalous areas with
values of greater than 50 ppb Au (Anomalies 1 to 3) in areas with limited
outcrop or in unmapped regions, over a minimum of 2 km, remaining open to the
northwest. The soil geochemistry, in conjunction with gold assays from rock and
soil samples taken from 2010 to 2012, gives a crude NNW-SSE trend of elevated
values extending for 4 km. The prospective trend in the property is
approximately 10 km.
The combined 2010 to 2012 rock assay results for 407 samples taken on the
property over an area of 3 km along strike by 1 km wide, gave 8 values from 10
to 40 g/t Au (2 %), 42 from 1 to 10 g/t (10 %), 31 from 0.5 to 1.0 g/t Au (8 %)
and 64 from 0.1-0.5 g/t Au (16 %). Using these results, 36 % give gold values
varying from a low of 0.1 to a high of 40 g/t with a little less than half in
the lowest range. These samples are grab samples taken during geological
evaluation and represent mineralized quartz veins, altered / mineralized units
and altered only units. Approximately 25 samples, mainly
quartz-hematite-goethite+/-tourmaline veins, give Ba values greater than 0.1 %.
Due diligence - 1 selected grab sample was acquired from Area F where sampling
in 2012 had shown significant gold values in narrow quartz veins. The sample
gave 6.37 g/T Au, 22 g/T Ag and 518 ppm Pb from a shallow dipping, 3 cm quartz
vein, carrying euhedral pyrite, cutting sericite schists. Bright white sericite
schist, assumed to be a potassic alteration of the original units, was noted in
many of the areas drilled in 2013. This is considered to be evidence of strong
fluid flow, required for significant gold deposition, although associated gold
mineralization may be peripheral to the sericitic (potassic) alteration. Further
exploration is required in these areas. The information derived from the
drilling, along with the detailed geological mapping and geochemical sampling
carried out in 2012 (NR June 12, 2012), will allow VVC to plan the next phase of
exploration which will include diamond drilling.
Samalayuca (Camex)
The property of 1663 ha covers an advanced stage, stratiform, sediment-hosted,
copper mineralized zone, located in northern Chihuahua State, approximately 35
km to the south of the cities of Juarez, MX / El Paso, TX on the US border. The
Samalayuca Range has been explored for copper since the early 1960s with some,
small scale, artisanal mining from open pits carried out over a few years in the
1960s. Previous work by the artisanal miners defines a potential lateral
extension (strike length) of copper mineralization of at least 4 km. Camex work
in the past few years has included 395 mostly chip/channel samples, from the
various deposits / showings along the trend, most of which gave copper values
ranging from 0.1 to 0.8 %, with a number of values greater than 1% copper. From
east to west the zones include: La Suerte, La Zorra, La Juliana, La Gloria and
La Concha.
Due diligence - Three selected grab samples taken during the due diligence visit
gave the following results: La Gloria Main Pit - 2.77% Cu, 21.2 g/T Ag; La
Juliana - 21.6% Cu, 184.8 g/T Ag; La Suerte - 1.38% Cu, 9.5 g/T Ag. The high
grade sample from La Juliana was a chalcocite vein in quartz carbonate
approximately 2 cm wide while the samples from La Gloria and La Suerte were
disseminated malachite and azurite in sandstone, typical of the mineralization
noted along the Samalayuca trend.
A diamond drilling campaign is planned for 2013 once an exploration and drilling
permit has been received.
Escondida (Camex)
The Escondida property is a silver/gold property (178 ha) located in the western
Sierra Madre in northern Sonora State, approximately 120 km to the
north-northeast of Hermosillo, MX. It covers a silver/gold vein system(s) that
has been traced over 500 m, remaining open to the east and west along strike.
Three known veins - La Abundancia, La Discreta and La Generosa have been
evaluated / exploited by gambusinos (artisanal miners) through surface pits,
small shafts and limited underground workings. No diamond drilling is known to
have tested the vein systems. La Generosa vein is the most enriched in precious
metals averaging 172 g/T Ag and 0.7 g/T Au. The alteration / vein systems are up
to 30 m wide with strong iron carbonate and quartz veining throughout. Minerals
identified include acanthite (Ag sulphide), enargite and jamesonite.
Due diligence - 1 sample acquired from the ore stockpile by the west shaft gave
Ag - 1646 g/T; Au - 42 ppb; Cu - 1032 ppm; Pb - 0.56% and Sb - 0.52%.
Conclusions
All three properties visited, Samalayuca, Cumeral and Escondida show good
potential for significant deposits of copper/silver, gold/silver and silver/gold
respectively. Further work is justified on all three projects. Diamond drilling
is recommended as it is important to define the geology that controls the
mineralization and drill core is an important part of this definition process.
The technical aspects of this news release were reviewed by Peter Dimmell, P.Geo
(NL, ON), who is a director of VVC and a Qualified Person (QP) as defined in
National Instrument 43-101.
About VVC Exploration Corporation
VVC is a Canadian exploration company with projects in Mexico and Canada, which
include a gold prospect in Sonora State and a gold placer prospect in Sinoloa
State, both in Mexico and grass-roots gold prospects in the Timmins area of
northern Ontario. In addition, VVC is aggressively searching for other projects
- especially precious minerals and base metals at various stages of development
in North America, mainly in Mexico, Quebec and Ontario.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
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.
This news release contains "forward-looking information" (within the meaning of
applicable Canadian securities laws) and "forward-looking statements" (within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate", "propose",
"project", "outlook", "foresee" or similar words suggesting future outcomes or
statements regarding an outlook. Such statements include, among others, those
concerning the Company's anticipated operational plans and activities including
the revenue and growth outlook. Specifically, they include the Company's
statement that: "All three properties visited ... show good potential for
significant deposits of copper/silver, gold/silver and silver/gold respectively"
"Further work is justified on all three projects" and, "A diamond drilling
campaign is planned for 2013 once an exploration and drilling permit has been
received".
Such forward-looking information or statements are based on a number of risks,
uncertainties and assumptions which may cause actual results or other
expectations to differ materially from those anticipated and which may prove to
be incorrect. Assumptions have been made regarding, among other things,
management's expectations regarding future growth, plans for and completion of
projects by the Company, availability of capital, and the necessity to incur
capital and other expenditures. Actual results could differ materially due to a
number of factors, including, without limitation, operational risks in the
completion of Company's anticipated projects, delays or changes in plans with
respect to the development of Company's anticipated projects by Company's third
party relationships, risks affecting Company's ability to develop projects,
risks inherent in operating in foreign jurisdictions, the ability to attract key
personnel, and the inability to raise additional capital. No assurances can be
given that the Company's efforts will result in confirming potentially
exploitable deposits of gold bearing mineralization. Additional assumptions and
risks are set out in detail in the Company's MD&A, available on SEDAR at
www.sedar.com.
Although the Company believes that the expectations reflected in the
forward-looking information or statements are reasonable, prospective investors
in the Company's securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such expectations
will prove to be correct. Forward-looking information and statements contained
in this news release are as of the date of this news release and the Company
assumes no obligation to update or revise this forward-looking information and
statements except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
VVC Exploration Corporation
Patrick Fernet
Vice-President
(514) 631-2727
pfernet@vvcexploration.com
www.vvcexpl.com
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