TORONTO, Aug. 02, 2018 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSXV:VVC) announces assay results from its ongoing diamond drilling program on the Samalayuca Copper property in northern Chihuahua State, Mexico. The results define and extend the copper mineralization in the near surface Gloria extension zone first drilled in 2017.
Samalayuca Drilling Program
VVC started the diamond drilling program on the Samalayuca Copper property in August 2017 with 2702 meters drilled in 23 diamond drill holes (DDH) in 2 phases testing mineralized zones previously discovered and mined by artisanal miners (gambusinos) in the 1950’s and 1960’s (Figure 2 from news release of February 8, 2018). The Phase 3 drilling program, planned for 3000 m, began in May 2018 with 8 DDH’s completed to date in the Gloria Extension East, all of which intersected near surface copper mineralization. Analyses for the first three holes, SC-18-024 to 026, have been received and are summarized in the table below.
Jim Culver, CEO of VVC said, “We at VVC continue to be excited by the results of the drilling program which has provided the Company with very encouraging data. I encourage readers of this news release to go to the VVC website where the drilling data and associated information are presented for the Phase I, and Phase II drilling and partial information on the Phase III drilling program is also given.”
Mr. Culver added: “There are three takeaways from the drilling that I would highlight:
- Extensive near surface mineralization, confirmed in Phase I and II, continues in the western third of the Gloria Extension zone that has been drilled in the Phase 3 program to date.
- Copper grades in the 0.2% to 0.6% range were identified in Phase I and II and those grades continue to be intersected in the Phase III drilling to date.
- Drilling has intersected copper mineralized zones up to 30 meters plus in true width.”
The Company announced the following results from the Gloria Extension zone in February. Drilling tested the down dip extension of the copper zone, exploited in the artisanal Gloria Extension pit, with the 2 final drill holes of the Phase 2 program. These results included:
– SC17-022 – 0.51 % Cu / 27 m at 14.5 m depth – approx. 27 m true width
– SC17-023 – 0.36 % Cu / 51 m at 10 m depth – approx. 36 m true width
Exploration Summary – Samalayuca – 2018
The results from the first 3 holes in Phase III (SC18-024-026), also in the Gloria Extension zone, adjacent to SC17-022 and SC17-023, provide further definition of the near surface copper mineralization. These results are summarized below, with only values > 0.1% Cu shown.
|Hole Number||From||To||Length (m)||Ag_ppm||Cu (%)||Zone|
A plan map and a vertical section (525E) through the copper mineralization in the Gloria Extension zone, showing the drill locations and results is attached hereto and can be viewed on our website.
The Phase III drilling program is intended to further evaluate the potential of the Gloria Extension pit areas, and to evaluate the mineralized zones in previously mined areas of La Concha and the area which includes the Zorra, Suerte, Juliana and Trinadad artisanal pits, none of which have been drilled by VVC.
The goal is to define the thickness and grade of the mineralized zones and their structural / lithologic settings using information gained from structural mapping and drilling. The drilling shows the potential of the property to host significant stratiform copper mineralization, which has been traced for over 5 km based on the shallow artisanal mines and VVC’s drilling of the 26 DDH, completed to date.
The Samalayuca property covers copper mineralisation in the Samalayuca Sierra, characterised as Stratiform Copper Deposit type, as recognized by qualified persons, Michel Gauthier and Jocelyn Pelletier (2012), and Jacques Marchand and Michel Boily (2013). Fine disseminated chalcopyrite-bornite and associated oxide copper minerals, common to these deposits, are noted in a wide chloritized zone along the Sierra with mineralized zones from 3 to 36 m wide, true thickness, as defined in the old surface pits. The stratigraphy strikes NW and dips gently, approximately 25 degrees to the NE, although it is variable. Vertical faults can generate supergene copper enrichment when they cut the mineralised strata. The old mining works by the artisanal miners (gambusinos) targeted the higher grade, surface, copper zones, exploiting them by shallow (< 20 m deep) open pits and hand cobbing the ore for direct shipping to the smelter.
Analysis and QA/QC
A total of 1189 core samples were sent to the ALS Chemex laboratory in Chihuahua city, MX for analysis by their ICP61 technique. Mineralisation is mainly oxidized copper minerals such as malachite, azurite, chrysocolla, brochantite, and others with some disseminated copper sulphides, such as chalcopyrite, bornite, and chalcocite. ALS Chemex analytical services are accredited by SANAS and are carried out with a quality assurance protocol in line with ISO 17025:2005. Samples are stored at the Corporation’s field camps, then put into sealed bags until delivered by company personnel to the laboratory where the samples are prepared and analyzed. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70% passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up to 1,000 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed. Blanks, duplicates and certified reference material (standards) are inserted to monitor laboratory performance.
This news release has been reviewed for accuracy and compliance under National Instrument 43-101 by Peter M. Dimmell, BSc., P.Geo. (NL, ON), a VVC Director and Qualified Person as defined by NI 43−101, Standards of Disclosure for Mineral Projects. He has approved the scientific and technical disclosure in the news release.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company focused on the exploration and development of copper and gold deposits in Northern Mexico, specifically the Samalayuca copper property in Chihuahua State. VVC has other projects in Mexico and Canada, including gold and silver prospects in Sonora and Sinaloa States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario.
Visit our website at: www.vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet – (514) 631-2727
Eugene Braigen – (646) 245-3409
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/91ae9abc-fac4-478f-b706-83eb310da233