Vendome Provides Update for the San Javier Mine Property (Mexico)
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/12/12 -- Vendome Resources Corp. (TSX VENTURE: VDR)(FRANKFURT: 9VR) ("Vendome" or the "Company") is pleased to provide an update for the San Javier Mine property (the "property") located within the municipality of Malinaltepec, State of Guerrero, Mexico.
An exploration program of the property's mineralized systems is set to begin immediately. The Company's consultant A.C.A Howe International Limited has recommended an initial program designed to determine optimal targets for future drilling work. Specifically the program will focus on thoroughly sampling the vein systems and testing the potential for lower-grade silver/lead/zinc bulk mineralization in rocks hosting the vein systems. A control grid will be established for magnetic surveys and soil sampling. Test induced polarization (IP) surveys will be done in selected areas to map alteration zones and possible disseminated sulphides within vein system wall rocks. Detailed and property-scale mapping will also be done. A structural analysis from satellite imagery of the San Javier concession is in progress.
Mr. Franz Kozich, President of Vendome states "we are very excited to begin this exploration work as there is no recorded former systematic surface exploration of the San Javier Mine Property. We feel that this program has the potential to identify new vein exposures yielding high grade polymetallic values as well as lower grade bulk mineralization in the altered wall rocks that host these veins."
The property is 253 hectares in size and is located within the Sierra Madre del Sur precious metal belt of southwestern Mexico. The Company has the option to acquire a 50% interest in the San Javier Mine property by making aggregate cash payments of $325,000, issuing 3,800,000 common shares over a two year period, and incurring $2,600,000 in exploration expenditures over a three year period.
Warren Hawkins, P.Eng, a "Qualified Person", within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Hawkins is not considered to be "independent" of the Corporation (as defined in National Instrument 43-101), as he currently holds securities of the Corporation.
This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future are forward looking statements. These forward-looking statements reflect the current expectations or beliefs of the Corporation based on information currently available to the Corporation. Such forward-looking statements include, among other things, statements relating to the Corporation's entry into an agreement in respect of the right to earn a 50% undivided interest in the Property and the proposed terms thereof. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Corporation. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure to acquire an interest in the Property, or the right to earn an interest in the Property, on the terms currently proposed or at all; the failure to obtain any required regulatory or stock exchange approvals and other factors. 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 Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Corporation believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither 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 release.
Contacts:
Vendome Resources Corp.
Franz Kozich
CEO
(416) 708 6871 or (647) 932 1604
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Datum: 12.03.2012 - 19:41 Uhr
Sprache: Deutsch
News-ID 123933
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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