The initial phase of this diamond drill test program consisted of eight holes, totaling 1,490 meters and focused, initially, in the area of the old mine workings on the Fern Elizabeth Property.  

The purpose of this initial phase of drilling was to test a tonalite intrusive – volcanic contact in the vicinity of the old Fern Elizabeth mine workings which, in the past, had displayed significant gold values associated with distinct alteration, quartz veining and commonly visible gold.

Highlights

• VenCan intersected 12.2 grams/tonne over 1.5 meters in VC-08-01, averaging 7.6 grams/tonne of gold over 3.0 meters

The initial six holes targeted, and intersected the well-defined contact zone, which can be traced from hole to hole. The lack of consistent gold assays is interpreted to not being able to intersect a relatively steep plunging gold bearing structure associated with the contact zone.

New Zone

The eighth hole of the program tested an arsenic in-soil geochemical anomaly in an area that had seen little if any exploration work in the past. The hole intersected a zone of highly sheared rocks containing abundant multi-generation quartz veins. This included chloritized meta-volcanic rocks, serecite schists and narrow zones of bedded pyrite along with quartz. Fuchsite was a common constituent of the rocks. Although, no gold mineralization of economic consequence was defined, many of these features are reminiscent of major structural breaks that are associated with major gold deposits. The Company is ardently planning further work in this area to explore this favorable geological environment.