Vior Obtains the Approval from the Stock Exchange for the Acquisition of the Mosseau Project
QUEBEC, CANADA, MARCH 24, 2017 – SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR INC. (TSX-V: VIO, FRANKFURT: VL51) – announces that it has received approval from the Venture Exchange (TSX-V) for the acquisition of the Mosseau project. As a result, on April 20, 2017, the Company issued the first $65,000 (360,477 shares) and made the first payments totaling $ 90,000 to the various sellers (for Details of the transaction, please refer to the Company’s press release dated March 22, 2017). The issued shares are subject to a restriction period of 4 months and 1 day expiring on August 21, 2017.
In addition, the Company wishes to correct an error that appeared in its press release of March 22nd. Vior declared that it had to make a second payment of $15,000 to the independent prospectors after a 15-month period following the signing of the agreement in order to complete the acquisition of the 6 claims that were subject to the agreement. This payment will be rather in the order of $10,000.
The Mosseau Project
The Mosseau project is comprised of 65 claims for 31.3 square-kilometers located 22 kilometers east of the town of Lebel-sur-Quévillon, in the Abitibi region of Quebec (figure on Vior website). The Project hosts the Morono ‘’M zone’’ (see press release of March 22, 2017) as well as many other gold showings and drill intercepts, all of which are associated to a series of parallel shear zones that could be followed up over a strike length of at least 10 kilometers on the project.
All historical drill holes at Morono ‘’M zone’’ have cross-cut the shear and the zone remains open at depth with the deepest drill intercept at 270 meters grading 4.42g/t gold over 5.84 meters (true width, hole M4-88; Ministry’s Assessment Report GM47624).
Vior is currently planning the exploration program on the Mosseau property that is slated to begin in spring 2017. The program should include some geophysics, field reconnaissance and drilling during the year.