NEVADO Venture Capital Launches Gold Exploration Program
(firmenpresse) - NEVADO Launches Gold Exploration Program Following the
2010-05-19 12:31:09.709 GMT
NEVADO Launches Gold Exploration Program Following the Significant
and Favourable 4,500 Line-Kilometres Airborne Geophysical Survey on
the Nicolet, Nicolet-North and Nicolet-East ...
... Properties, Southern Quebec
MONTREAL, QUEBEC -- (Marketwire) -- 05/19/10 -- NEVADO Venture
Capital (TSX VENTURE: VDO) (FRANKFURT: VSN) ("NEVADO" or
the "Company") is pleased to announce the start of the
summer 2010 exploration program on the Company's wholly-owned
Nicolet, Nicolet-North and Nicolet-East gold properties (the
"Properties"). The Nicolet, Nicolet-North and Nicolet-East
properties cover more than 415 km2, located along a 50km
northeast-southwest trend centered 10 km south-southeast of the
community of Thetford Mines (Eastern Townships, Quebec), some 150 km
east of Montreal.
The NEVADO exploration team under Bertrand Brassard, P. Geo.,
Technical Director of the Company, will seek to establish continuity
and grades of the projected gold mineralization on the Properties
using detailed prospecting, geological mapping and grab/channel
sampling, followed by diamond drilling. The objective this year is to
determine the full extent of the gold mineralization over the 50
kilometres gold trend located on the Properties. The gold trend was
established from historical results, recent discoveries and
constrained by the airborne geophysical survey, which shows a series
of narrow, parallel and alternating magnetic high and lows, as well
as curvilinear magnetic signatures typical of volcanic-intrusive
sequences. The gold trend overlaps with stream, till and bedrock
geochemical gold anomalies.
The Nicolet, Nicolet-North and Nicolet-East
Thetford Mines and the southern Quebec Appalachian Belt have a
century long history of mining and are known for its numerous
asbestos, chromite and copper deposits and occurrences. The region
was the site of Canada's first placer gold rush in the 1850's,
decades before the Klondike in the Yukon. Despite the fact that
several gold occurrences were discovered in volcanic, intrusive and
sedimentary rocks, no major bedrock sources were discovered to
account for the placer gold, that is until 2009 with the gold
discovery made by Bowmore Exploration Ltd. (TSX-V: BOW) along strike
and contiguous to the southeast of the Nicolet Property.
The Properties are interpreted to cover sedimentary and volcanic
rocks of the St-Daniel Formation, bordering the Thetford Mines
Ophiolite Complex. The area was worked for base and precious metals
by a number of individuals and companies since the early 1900's up
until the 1960's. The work included prospecting, trenching, limited
diamond drilling and artisanal mining. The Properties cover mineral
occurrences with documented results of up to 1 g/t gold and 5% copper
in rock samples, and up to 26 g/t gold in stream-sediment heavy
mineral concentrates (Ministere des ressources naturelles et de la
faune Quebec Assessment Files).
The Thetford Mines area is benefitting from a major staking rush, the
result of bedrock disseminated gold discoveries. The favourable hosts
comprise sedimentary, felsic volcanic and intrusive rocks in the
Appalachian Belt of southern Quebec, from Sherbrooke to Beauceville,
and have been generally overlooked in the past for their gold
potential but have now become significant contributors to the next
generation of major new gold mineralization in Quebec, such as in the
Val-d'Or-Malartic Gold Camp with Osisko Mining.
The technical information in this news release was prepared, reviewed
and approved by Mr. Jean Lafleur, M. Sc., P. Geo., Senior Technical
Consultant to NEVADO, and Bertrand Brassard, M. Sc., P. Geo. Both
individuals are Qualified Persons under NI 43-101 regulations.
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 news
release. The statements made in this news release that are not
historical facts are "forward-looking statements" and readers are
cautioned that any such statements are not guarantees of future
performance, and that actual developments or results, may vary
materially from those in these "forward-looking" statements
Contacts:
Mr. Guy Girard
President and CEO
514-798-1290
Bertrand Brassard, P. Geo.
819-856-3811
www.info(at)NEVADO.ca">www.info(at)NEVADO.ca
-0- May/19/2010 12:31 GMT
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