Verneuil (PQ)

RESULTS TO DATE

The results below were obtained from the exploration work described under our Work Plan.

A. Summer Exploration Program - 2011 (Verneuil Central, East, West)

Line Cutting Results

A total of 128 kilometres of line was cut, including 37 kilometres on a detailed grid covering the area of the Toussaint-Midrim showings area, and 91 kilometres on the main grid of the Verneuil properties.

Geophysical Survey Results

The survey revealed several extensive “textbook case” anomalies distributed throughout the properties. Five new main target zones were outlined from the IP survey, the majority of which have not been previously explored.

Channel Sampling Results

The main Toussaint Showing, well exposed by trenching, was sampled with closely spaced systematic channels with one-meter samples. The most significant results were as follows:

• 15.3 g/t Au over 4.0 m, including 47.3 g/t Au over 1.0 m

• 10.64 g/t Au over 4.0 m, including 18.43 g/t Au over 2.0 m

• 8.22 g/t Au over 5.0 m, including 13.36 g/t Au over 3.0 m

• 14.07 g/t Au over 2.0 m

• 6.26 g/t Au over 5.0 m, including 8.64 g/t Au over 3.0 m

• 5.91 g/t Au over 8.0 m

• 3.65 g/t Au over 7.0 m, including 4.34 g/t Au over 4.0 m

Overburden thickness did not allow exposure of the north-east extension of the Toussaint zone. 

At the Benoist Showing, a total of 8 channels were sampled to get representative Au values across the mineralized zone. The results validated the assays from the previous sampling with values of 1.70 g/t Au over 2.0 m. and 1.01 g/t Au over 1.0m.

Trenching was also completed at the new JD Showing, exposing a rusted silicified shear zone, as well as a quartz-feldspar porphyry dyke and quartz-tourmaline veining. Channel sampling returned Au values of 0.301 g/t Au over 1.0 m. and 0.283 g/t Au over 1.0 m.

Diamond Drilling Results

Of the 5-hole diamond drill program (550 m drilled), the most significant assay results were as follows:

• VP-11-03: 7.74 g/t Au over 1.0 m

• VP-11-04: 4.12 g/t Au over 0.4 m

• VP-11-05: 20.0 g/t Au over 2.0 m, including 32.3 g/t Au over 1.0 m

Drill hole VP-11-05 is located 450 metres east of the main Toussaint lens, above a series of holes from previous programs that returned significant values including:

• 9.87 g/t Au over 6.2 m

• 3.16 g/t Au over 5.7 m

• 30.25 g/t Au over 0.8 m

• 4.9 g/t Au over 0.5 m

• 3.69 g/t Au over 1.0 m

• 2.6 g/t Au over 2.0 m

All samples were sent to ALS Chemex Lab in Val d’Or for a conventional 35-element ICP analysis with an aqua regia digestion process, and a 30-gram fire assay with Atomic Absorption Spectroscopy finish for gold. Samples with gold values above 10.0 ppm were re-analyzed using a 30-gram fire assay with gravimetric finish.

B. Winter Exploration Program - 2011 (Verneuil Central, East, West)

Diamond Drilling Results

Preliminary assay results were released on February 14, 2012 (see our News Release here).  

We received the final assay results and issued a followup press release on June 26, 2012.  Over 500 samples were submitted in Q1-2012 for re-assay by metallic sieve method (SCR) due to the coarse-gold nature of the mineralization as observed in several places. The original assay and re-assay results were mutually consistent. Several instances were also noted where the gold content increased significantly under SCR when compared to the original atomic absorption spectroscopy (AAS) method.