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Buteux Desgagné property, located 120 kilometres southwest
of Chibougamau and 110 kilometres east of Lebel-sur-Quévillon,
comprises 42 claims covering 2,500 hectares in the Buteux Township.
The property is adjacent to ground currently wholly held by
Vior and to the Fecteau property which Vior agreed to purchase
as of November 16, 2006. This three claim groups comprising
154 claims covering more than 9,100 hectares are located in
the Urban-Barry greenstone segment, east of the Abitibi greenstone
belt and approximately 20 kilometres east of the recent discovery
announced by Noront Resources in December 2006 (1,792.9 g/t
Au over 4.8 metres).
On the western part of the Buteux-Desgagné property,
a felsic intrusion containing several high-grade gold showings
was recently discovered. These showings consist of centimetric
to decimetric quartz veins which returned values ranging from
8 g/t Au to 85 g/t Au on selected samples. These veins were
recognized over a 200-metre by 50-metre corridor. To the east
of the property, a semi-massive sulphide lens with zinc and
copper showings associated with intermediate volcanites extends
over a 20-metre by 5-metre area. These anomalies have not been
explored by diamond drilling in the past. Geophysics and mapping
work in scheduled on this property during the summer of 2007.
This acquisition follows our geological modelling and evaluation
work carried out on the eastern section of the Urban-Barry greenstone
segment. This section of the Abitibi geological sub-province
is now easily accessible by numerous forest roads and remains
relatively unexplored and presents, in our view, a strong potential
for the discovery of base metal and/or gold deposits.
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