THE 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 1990 Aurizon Mines attempted to put
the deposit in production to acquire a 50% interest. After spending close
to $5 million on the property, Aurizon abandoned its option in 2000. The
project is now the beneficiary of a surface infrastructure including offices,
a mechanical workshop, a dry, a compressor room, a hoist and head frame
and an electric station.
In August of 2005, Geostat Systems International Inc. undertook an evaluation of the resources and reserves of the Douay West deposit (conforming to National Instrument 43-101) that concluded the indicated resources of Douay West totalled 515,000 metric tonnes grading 5.94 g/t Au, or 98,000 ounces of gold, and inferred resources totalled 529,000 metric tonnes grading 5.43 g/t Au, or 92,000 ounces of gold.
Since the end of 2005, drilling done on the Douay West project led to the discovery of a new zone, Zone 116, located 200 metres east of the Douay deposit. The best drill intersection revealed a 12-metre area grading 4 g/t Au. This new discovery confirms the exploration potential of this property.
Both Vior's technical team and management are working on the development of the Douay West deposit. Following recommendations made by Geostat Systems International Inc. in 2005, six definition drill holes totalling 1,148 metres were drilled during the last exploration campaign on the Douay West deposit. This developmental work allowed us to better define and characterize the mineralization of the upper portion west of the main lens, located around 100 metres from the surface infrastructure. This area of the main lens, by virtue of its grade content, thickness and proximity, could be an excellent place to take a bulk sample. The zone is accessible either by a ramp or a mine shaft. During the second quarter of 2007 Vior expects to contract an independent company to undertake a feasibility study of an underground mine in Douay West.
In August of 2005, Geostat Systems International Inc. undertook an evaluation of the resources and reserves of the Douay West deposit (conforming to National Instrument 43-101) that concluded the indicated resources of Douay West totalled 515,000 metric tonnes grading 5.94 g/t Au, or 98,000 ounces of gold, and inferred resources totalled 529,000 metric tonnes grading 5.43 g/t Au, or 92,000 ounces of gold.
Since the end of 2005, drilling done on the Douay West project led to the discovery of a new zone, Zone 116, located 200 metres east of the Douay deposit. The best drill intersection revealed a 12-metre area grading 4 g/t Au. This new discovery confirms the exploration potential of this property.
Both Vior's technical team and management are working on the development of the Douay West deposit. Following recommendations made by Geostat Systems International Inc. in 2005, six definition drill holes totalling 1,148 metres were drilled during the last exploration campaign on the Douay West deposit. This developmental work allowed us to better define and characterize the mineralization of the upper portion west of the main lens, located around 100 metres from the surface infrastructure. This area of the main lens, by virtue of its grade content, thickness and proximity, could be an excellent place to take a bulk sample. The zone is accessible either by a ramp or a mine shaft. During the second quarter of 2007 Vior expects to contract an independent company to undertake a feasibility study of an underground mine in Douay West.
