Visible Gold Mines Completed a Geophysical Airborne Survey On Horsefly And Doda Gold Properties in the Nelligan/Lac Surprise Region

·4 min read

ROUYN-NORANDA, QC, June 14, 2021 /CNW Telbec/ - Visible Gold Mines Inc. (TSXV: VGD) (OTC Pink: VGMIF) (FRANKFURT: 3V41) is pleased to announce that Prospectair has completed a heliborne high-resolution magnetic (MAG) survey over Visible Gold Mines' Horsefly and Doda properties located in the Surprise Lake area, Eeyou Istchee Baie-James region, Province of Quebec.

The survey properties are located about 40 kilometres south of the town of Chapais and were flown with traverse lines at 50 metres spacing and control lines spaced every 500 metres. The Horsefly and Doda properties were flown for a total of 1,646 line-kilometres.

Most of the surveyed area is affected by linear magnetic features characteristic of alternating sequences of mafic volcanic rocks with sedimentary or intermediate to felsic volcanic rocks, with possibly some intrusive stocks or dykes locally.

Several magnetic lineaments are curved, even heavily locally, either by folding or at the contact zone with postulated intrusions, such as in the southwest part of the Horsefly property and in the southern part of the Doda property. These evidences are attesting that the area underwent strong deformation events in the past, and that shearing may have affected some of these lineaments. In the Horsefly block, aside from areas near the possible intrusions to the south, most magnetic lineaments are generally trending from ENE-WSW to ESE-WNW, with the exception of a family of lineaments rather striking from NE-SW to N-S and that are possibly pertaining to dykes or to faulting structures. In the Doda property, lineaments are generally striking NW-SE, gradually changing to an E-W orientation to the south. There are also a few isolated lineaments that are rather trending NNE-SSW and NE-SW. In general terms, magnetic lineaments are related to rock formations that are enriched in magnetic minerals (magnetite and/or pyrrhotite). In some areas, it is possible to detect structural features offsetting observed magnetic lineaments and causing abrupt interruption or changes of the magnetic response. These features are typically caused by faults, fractures and shear zones. A comprehensive structural interpretation of the Horsefly and Doda properties is currently underway. (detailed magnetic maps are available on the Visible Gold Mines' Website at www.visiblegoldmines.com )

Visible Gold Mines MAG SURVEY location map; (CNW Group/Visible Gold Mines Inc.)
Visible Gold Mines MAG SURVEY location map; (CNW Group/Visible Gold Mines Inc.)

Qualified Person

Robert Sansfaçon, P.Geo, senior geologist and Visible Gold Mines' vice-president exploration, is the qualified person for Visible Gold Mines' properties under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, responsible for the technical contents of this news release, and has approved the disclosure of the technical information contained herein.

About Visible Gold Mines Inc.

Visible Gold Mines is a corporation focused on gold in the prolific Abitibi Gold Belt and the Bay James region in the province of Quebec. The Corporation has 33,827,039 common shares issued and outstanding.

Forward-Looking Statements

This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Visible Gold Mines, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the development of the Doda and Horsefly properties or if it does so, what benefits Visible Gold Mines will derive from these properties. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Visible Gold Mines' control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the management's discussion and analysis of Visible Gold Mines for the fiscal year ended July 31, 2020 and under "Financial Instrument Risks" in Visible Gold Mines' Annual Report for the fiscal year ended July 31, 2020, copies of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Visible Gold Mines does not intend, nor does Visible Gold Mines undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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 the release.

SOURCE Visible Gold Mines Inc.

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