This
auriferous mining camp is distinguished by the presence of a
volcano-sedimentary assemblage cross-cut by the Casa Berardi-Douay-Cameron
deformation corridor. The Douay property is located 50 kilometres
south-west of the town of Matagami, Québec, and is easily
accessed by Highway 109 linking Matagami with the town of Amos.
This property, with an area of 6,636 hectares (402 claims) covers
the key prospecting terrain of the sector over a distance of
more than 20 kilometres.
The Douay project contains a wide scale auriferous system with
six distinct mineralized zones within an eight kilometre segment
of the Casa Berardi-Douay-Cameron fault. Some of these auriferous
zones have been generally well delineated by drilling; however
a strong potential for discovery still exists both within and
around the area because of the weak density of the drilling
done to date. In its latest NI 43-101 compliant resource estimate,
Geostat Systems International Inc (“Geostat”) recently
confirmed (Nov. 7 2007) a gold inferred resource of 1,885,000
million ounces of gold contained on the Douay property,
based on a cut-off grade of 0.7 g/t Au. This is more
than a twofold increase from the previous estimate
of 837,000 ounces from an NI 43-101 compliant report released
in 2005. The complete 2007 NI 43-101 compliant report is available
on SEDAR.
Geostat estimated an inferred resource of 1,885,000
ounces of gold at 1.3 g/t Au and measured plus
indicated resources of 268,000 ounces of gold at 2.88 g/t Au.
Based on a cut-off grade of 3.0 g/t Au, measured plus
indicated resources total 971,000 tonnes at 5.61 g/t Au
or 175,000 ounces of gold. Of this total, 232,000
tonnes at 6.06 g/t Au or 45,000 ounces of gold and
627,000 tonnes at 5.57 g/t Au, or 112,000 ounces of
gold are contained in the Douay West gold deposit.
The recent estimates were calculated from the following mineralized
zones: Douay West, 531, Main, Central (including 5-4 North and
South Zones), 10, 20 and Adam-92-7 (see description and location
map of mineralized zones as reported in Geostat’s 43-101
report dated November 2007).
DOUAY WEST PROJECT
The Douay West project consists of 9 claims totalling 107 hectares,
and was discovered in 1990 by the Inco-Vior partnership. Vior
acquired the entire project in 1992. Towards the end of 1996
Aurizon Mines attempted to put the deposit in production to
acquire a 50% interest. After investing close to $5 million
in the Douay West Project, Aurizon abandoned its option in 2000.
The project now comprises a full surface infrastructure including
offices, mechanical workshop, compressor room, hoist, head frame
and electrical station.
Several winter drilling programs since 2005 have lead to the
discovery of new ore zones that confirm the exploration potential
of this property. For instance, the 116 Zone, located 200 metres
east of the Douay deposit returned at 12-metre intersection
grading 4.0 g/t Au.
Both Vior’s technical team and management are working
on the development of the Douay West deposit. In April 2008,
Vior signed an agreement with DIAGNOS Inc., a leader in the
use of artificial intelligence and advanced knowledge extraction
techniques for the use of its technology and the creation of
a local signature in order to locate new gold targets on its
Douay property. Results of this new geological analysis are
expected during the summer of 2008.
PORPHYRY ZONES
Approximately one kilometre east of the Douay West Project,
two porphyry zones with lower gold values have been identified:
the Adam-92-7 Porphyry Zone containing a measured and indicated
resource of 0.27 million tonne at 1.04 g/t Au and an inferred
resource of 25.0 million tonnes grading 1.14 g/t Au and the
Central Porphyry Zone with a measured and indicated resource
of 0.33 million tonne at 1.18 g/t Au and an inferred resource
of 6.74 million tonnes grading 0.97 g/t Au (NI 43-101 -- Geostat
Systems International Inc. Nov 2007).
Additional drilling is required on these porphyry zones as their
economic value has increased substantially with the current
rise in the price of gold. Eventual drilling will focus on uniting
these zones which could be part of a much broader system.
NORTH WEST JOINT VENTURE PROPERTY AND JOUTEL BLOCK
The North-West JV property is located west of the Douay property,
and consists of 76 claims held by Vior (25%), SOQUEM (25%) and
Northern Abitibi (50%). This property covers the western extension
of the Casa Berardi-Douay-Cameron corridor over a distance of
more than 3 kilometres. The best drill intersection returned
10.63 g/t Au over 4.9 metres. Very little deep drilling was
carried out in this area over the previous years.
The Joutel Block (100% Vior) also covers the Casa Berardi-Douay-Cameron
fault over 4 kilometres. This major structure remains virtually
unexplored to date.
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