TORONTO, Feb. 08, 2018 (GLOBE NEWSWIRE) — VVC Exploration Corporation (“VVC” or the “Company”) (TSX-V:VVC) today announced assay results from diamond drilling on its Samalayuca property in northern Chihuahua state, Mexico. The results indicate significant copper mineralization in near surface zones in two main areas, the Gloria and Gloria extensions (see Figure 1). Highlights include:
Gloria – drilling tested the down dip extension of the copper zone exploited in the artisanal Gloria pit with 12 holes, including all 6 from the Phase 1 program. Results include:
– SC17-009 – 0.46 % Cu / 7 m at 9 m depth, and 0.56 % Cu / 12m at 73.5 m depth
– SC17-018 – 0.67 % Cu / 10 m at 32 m depth
– SC17-020 – 0.95 % Cu / 5 m at 21.5 m depth
Gloria Extension – drilling tested the down dip extension of the copper zone exploited in the artisanal Gloria Extension pit with the 2 final drill holes of the program. Results include:
– SC17-022 – 0.51 % Cu / 27 m at 14.5 m depth – approx. 27 m true width
– SC17-023 – 0.36 % Cu / 51 m at 10 m depth – approx. 36 m true width
Exploration Summary – Samalayuca – 2017
VVC commenced a diamond drilling program in August 2017. A total of 2702 meters (Figure 2) were drilled in 23 DDH in 2 phases testing targets that had been discovered / mined by artisanal miners (gambusinos) in the 1950’s and 1960’s. Phase 2 of this drilling program (1224 meters) intersected extensive near surface mineralization in the Gloria and Gloria Extension areas (see inset table in Figure 2 below). Complete results of the 2-phase program are presented on the Company’s website at: www.vvcexpl.com/mining-data
The drilling program was intended to evaluate the mineralized zones in the previously mined areas, to better define the thickness and grade of the mineralized zones and to further define their structural and lithologic settings using information gained as drilling continued and structural mapping carried out after the Phase 1 program. All the main areas that had been mined by artisanal miners, except the La Concha zone, in the northern part of the property, were evaluated by the drilling. The drilling at the Gloria and Gloria extension zones intersected significant mineralized zones with thicknesses up to 36 m and grades in the 0.3 to 0.6 % Cu range. The drilling shows the potential of the property to host significant stratiform copper deposits, with mineralized zones traced for over 5 km based on the old shallow artisanal mines and VVC’s drilling of the 23 DDH, completed to date.
Jim Culver, CEO of VVC said, “We at VVC are excited by the results of the first 2 phases of this Samalayuca drilling program. This drilling program has provided us with a wealth of data, most of it very encouraging. The results are by necessity – technical, detailed and voluminous. I would encourage readers of this news release, particularly those who have a technical interest, to go to the VVC website where the drilling data and associated information is presented.
There are three takeaways from the drilling that I would like to highlight: First there is extensive near surface mineralization. Secondly there are copper grades in the 0.3% to 0.6% range and thirdly the drilling intersected mineralized zones up to 36 meters in true width.”
VVC’s Chairman, Dr. Terrence Martell said, “We are particularly pleased with another positive step at our Samalayuca Copper Project and look forward to our next phase of work.”
Geology
The Samalayuca property covers copper mineralisation in the Samalayuca Sierra, characterised as Stratiform Copper Deposit type, as recognized by qualified persons, Michel Gauthier and Jocelyn Pelletier (2012), and Jacques Marchand and Michel Boily (2013). Fine disseminated chalcopyrite-bornite and associated oxide copper minerals, common to these deposits, are noted in a wide chloritized zone along the Sierra, Mineralized zones are from 3 to 36 m wide, true thickness, as defined in the old surface pits. The stratigraphy strikes NW and dips gently, approximately 25 degrees, to the NE although it is somewhat variable. Vertical faults can generate supergene copper enrichment when they cut the mineralised strata. The old mining works by the artisanal miners (gambusinos) targeted the higher grade, surface, copper zones, exploiting them by shallow (< 20 m deep) open pits and hand cobbing the ore for direct shipping to the smelter.
Analysis and QA/QC
A total of 1189 core samples were sent to the ALS Chemex laboratory in Chihuahua city, MX for analysis by their ICP61 technique with 121 samples also analyzed using the fire assay / AA23 technique for gold. Mineralisation is mainly oxidized copper minerals such as malachite, azurite, chrysocolla, brochantite, digenite and others with some disseminated copper sulphides, such as chalcopyrite, bornite, and chalcocite.
ALS Chemex analytical services are accredited by SANAS and are carried out with a quality assurance protocol in line with ISO 17025:2005. Samples are stored at the Corporation’s field camps and then put into sealed bags until delivered by company personnel to the laboratory where the samples are prepared and analyzed. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70% passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up to 1,000 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed. Selected anomalous samples are re-analyzed by 50 g Au Fire assay / AA23 with an AA or gravimetric finish. Selected samples may also be re-analyzed using a 1 kg cyanide leach (Bottle Roll) using “LeachWELL” or the 1 kg screen fire assay method. Blanks, duplicates and certified reference material (standards) are inserted to monitor laboratory performance.
This news release has been reviewed for accuracy and compliance under National Instrument 43-101 by Peter M. Dimmell, BSc., P.Geo. (NL ON), VVC Director and Qualified Person, and Jocelyn Pelletier, MSc. P.Geo. VVC’s Chief Geologist in Mexico, and QP, both Qualified Persons as defined by NI 43−101 Standards of Disclosure for Mineral Projects. Jocelyn Pelletier and Peter Dimmell have approved the scientific and technical disclosure in the news release.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company focused on the exploration and development of copper and gold deposits in Northern Mexico, specifically on the Samalayuca copper property in Chihuahua State. VVC has other projects in Mexico and Canada, including gold and silver prospects in Sonora and Sinaloa States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario. Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information, please contact:
Patrick Fernet – (514) 631-2727
E-mail: [email protected]
Jim Culver, President & CEO – (212) 689-4100
E-mail: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Two figures accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/932e6b5b-07bc-4d74-816b-35a891804423
http://www.globenewswire.com/NewsRoom/AttachmentNg/83ef580b-7689-4374-be27-ba387c647ff7
