News Detail

 

The Guyenne Project (hereafter the “Property”) is located in the Abitibi Region of Quebec, 35 kilometres northwest of the town of Amos and 95 kilometres northwest of the town of Val d’Or.  The Property, which consists of 7 contiguous claims with a total surface area of 7 square kilometres, is under option from Globex Mining Enterprises Inc. (TSX: GMX) as per Viking Gold’s press release dated September 4, 2012.

 

Based on the results from previous exploration programs, a general region of interest was first defined and covered with line cutting and geophysical surveys.  In the fall of 2012, the northern part of the Property was mapped and prospected in detail.  The exposed geology is composed of a gabbro/basalt assemblage, cut by several diorite and felsic dykes.  Occasional centimetric to metric shear zones are present.  The general geological trend is ESE-WNW.  Samples collected during the mapping did not return significant Au values.

 

The drill program, completed in December 2012, was aimed at four target areas defined from the 2012 geophysical surveys and the results from past exploration.  The program consisted of thirteen holes for a total of 1515 metres of drilling.

 

Target Area #1 is located in the north-central part of the Property, in the vicinity of several historical drill holes, including N-4 that intersected mineralization with assay values of 5.878g/t Au over 6.18 metres.  Eight holes (GP-12-01 to 04, GP-12-10 to 13) were drilled in this target area to confirm the historical Au results and to define the geology and the trend of the mineralized zones.  All the drill holes intersected altered zones of interest taking place in the gabbro/basalt sequence, at or near the contact with quartz-feldspar porphyry dykes (QFP).

 

The most significant assay results obtained from Target Area #1 were as follows:

 

GP-12-01:

- from 13.0 to 14.0m: 1.36 g/t Au / 1m

- from 82.0 to 83.0m: 2.16 g/t Au / 1m

 

GP-12-04:

- from 32.0 to 35.0m: 5.27 g/t Au / 3m, including 27.23 g/t Au / 0.5m

 

GP-12-10:

- from 52.0 to 53.0m: 11.3 g/t Au / 1m

- from 73.0 to 74.0m: 13.36 g/t Au / 1m

- from 79.0 to 80.12m: 1.29 g/t Au / 1.12m

 

Target Area #2 is located in the northwest part of the Property, near the isolated historical drill hole N-5 that returned assay values of 4.25g/t Au over 1.40m and 9.94g/t Au over 0.27m.  Three holes were drilled in this area (GP-12-05 to 07), two at 25 metres on each side of N-5, and one underneath.  The three holes intersected a fault at depth; the hanging wall rock consisted of an alternating sequence of basalt and tuff, felsic intrusive, and strongly metasomatized and altered rocks. 

 

The most significant assay results obtained from Target Area #2 were as follows:

 

GP-12-05:

- from 93.0 to 94.0m: 1.35 g/t Au / 1.0m

- from 101.0 to 102.0m: 1.61 g/t Au / 1.0m

- from 124.0 to 125.0m: 0.98 g/t Au / 1.0m

 

GP-12-06:

- from 29.3 to 30.35m: 1.58 g/t Au / 1.05m

- from 72.4 to 75.0m: 2.61 g/t Au / 2.6m, including 8.25 g/t Au / 0.6m

- from 79.0 to 80.0m: 3.29 g/t Au / 1.0m

- from 89.0 to 90.0m: 2.19 g/t Au / 1.0m

 

GP-12-07:

- from 19.0 to 20.0m: 0.47 g/t Au / 1.0m

 

Target Areas #3 and #4 are both located in the southern part of the Property.  Drill holes GP-12-08 (#3) and GP-12-09 (#4) were completed to verify IP anomalies as well as Au mineralization intersected in isolated historical holes located nearby (9.8 g/t Au over 1.5 metres and 6.2 g/t Au over 0.6 metres respectively).  No significant Au values were intersected by drill holes GP-12-08 and -09.

 

The Company’s geological team is reviewing all data before initiating a further exploration program.

 

In December 2012, the Company also completed a limited, seven-hole drill program on its Verneuil West claims that returned no significant results.

 

Pierre Poisson, P.Geo., an independent "Qualified Person" as that term is defined in National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.

 

For further information, please contact Mark Edwards, CEO at (905) 752-2008 or visit the Company’s website at: www.vikinggold.ca.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

This press release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as “anticipate”, “believe”, “plan”, may”, “could”, “would”, “might” or “will”, “estimates”, “expect”, “intend”, “budget”, “scheduled”, “forecasts” and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of commodities and other risks identified in the Company’s documents filed with the Canadian securities regulatory authorities on SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.