Vior Announces the Completion of a Helicopter-Borne Magnetic Survey Over a New Rutile Block Train on Foothills, Quebec
QUÉBEC, CANADA, MARCH 28, 2017 – SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR INC. (TSX VENTURE (VIO), FRANKFURT (VL5) (the “Company” or “Vior”) – the Company is pleased to announce the completion of a high-resolution helicopter-borne magnetic survey over a new rutile-bearing glacial block train on the Foothills Property, located near St-Urbain, 100 km east of Quebec City.
The survey covers a new group of claims acquired by map designation in the western extensions of the Foothills Property where a higher density of larger and more angular blocks of rutile-bearing ilmenite (also known as urbainite) were discovered. Field reconnaissance during 2016 identified numerous urbainite boulders over a 30-kilometer long glacial fan that encompasses the St-Urbain and the Lac Malbaie anorthositic complexes. Analysis of till samples collected from the claim are being utilised as a vector to the potential source region or regions of the urbainite boulders. The area surveyed is located mostly within the Lac Malbaie anorthositic complex located west of the St-Urbain anorthosite. The data acquired from the magnetic survey will aid in measuring the variations in the magnetic response of titanium-rich, rutile-bearing ilmenite mineralization versus the anorthositic rocks.
The instrumentation used for the survey is a Colibri magnetic gradiometer system provided by Novatem Inc. Flight lines are surveyed at a 150-metre spacing covering an approximate area of 200 km2 , totalling 1,500 line-kilometres.
A comprehensive follow-up field sampling program and mapping is being prepared for summer 2017 to follow-up on existing till anomalies and magnetic targets that will be generated for the current survey.
Pursuant to the terms of the Option Agreement between Vior and Iluka (as amended), Iluka has now met its obligation to fund the initial expenditure amount of $500,000. Accordingly, Iluka now has the right to at any time initiate the unincorporated Joint Venture with Vior where the parties’ initial participating interests will be Iluka 51% and Vior 49%. At the time Iluka elects to initiate the Joint Venture, Iluka will also take a 51% registered interest in the exploration clams the subject of the Option Agreement.
In the industry, most of rutile and ilmenite is processed into non-toxic white titanium dioxide pigment for use in the manufacture of paints, plastics, paper, textiles, cosmetics and ceramics. Rutile is also used to produce titanium metal for use in aircraft, spacecraft, surgical implants, motor vehicles and desalination plants (source: Geoscience Australia website).
The technical content disclosed in this press release was prepared and approved by Mr. Marc L’Heureux, P.Geo. who is the Company’s Qualified Person.