Vior Commences Fully Funded +60,000 M Drill Program at Its Belleterre Gold Project
MONTREAL, QC / ACCESSWIRE / September 24, 2024 / VIOR INC. ("Vior" or the "Corporation") (TSXV:VIO)(OTCQB:VIORF)(FRA:VL51) is excited to announce the commencement of its fully-funded +60,000 metre ("m") drill program at its district-scale Belleterre Gold Project ("Belleterre" or the "Project"), located in the underexplored and historic gold-producing Belleterre Greenstone Belt, in the Abitibi-Témiscamingue region of Quebec (Figure 1).
Vior has launched its fully permitted Belleterre Drill Program with two drill rigs that will operate through to mid-2025, making this the largest drill program at Belleterre since the closure of the high-grade Belleterre gold mine in 1959. The Vior team is confident that it has identified many of the highest priority drill target locations for its program, based on several years of extensive fieldwork, data compilation, and geological modelling. The Project benefits from very favourable geography and exceptional road infrastructure throughout the property, providing year-round drill access and outstanding drilling costs.
Mark Fedosiewich, President and CEO of Vior Inc., commented, "With the capital raised from our recent oversubscribed financing and the support from our strategic shareholder, Osisko Mining Inc., Vior has begun this pivotal phase of drilling with our carefully selected drill targets that we believe will unlock the significant growth potential of Belleterre. This program marks a substantial milestone for Vior, with the belief that Belleterre could be the next major gold discovery in Quebec, thereby benefiting all stakeholders, including the communities of Belleterre and Long Point First Nation ("LPFN"). LPFN has confirmed their support for Vior's drill program and exploration work and recognizes the importance of this project and the potential benefits that it may bring to its community."
Figure 1: Belleterre Gold Project Location
Belleterre Drill Program
The drill target locations are divided into two main areas: (a) the Belleterre Mine Trend Area, where targets are focused around the historic Belleterre mine site; and (b) the Regional Area that encompasses the remaining brownfield region within the Belleterre Gold Project. The drill program is designed to extend the known mineralized zones and showings, along strike and at depth. As the program unfolds, additional drill rigs will be added as required. Figure 2 depicts the proposed drill target collar locations.
Belleterre Mine Trend Area Drill Targets
The systematic drill plan at the Belleterre Mine Trend totals 46,000 m and will aim to extend the area of gold mineralization within the 6-kilometre ("km") long trend that includes the historic, high-grade Belleterre gold mine. Past gold production from this site exceeded 750,000 ounces ("oz") at an average grade of 10.7 grams per tonne ("g/t"), and was largely extracted from within 250 m of the surface. Key targets include the north-dipping gold-bearing systems, and the high-grade shoots within the Belleterre mine structure, extending at depth and along strike.
Drilling within the Belleterre Mine Trend will also focus on additional downhole targets that include gold mineralization in stacked south-dipping shear structures and within the lower-grade halos associated with sheared and altered felsic intrusives. See the Belleterre Mine Trend Drill Plan in Figure 3.
The following highlights several surface assay results from Belleterre Mine Trend for gold (Au) and silver (Ag), as collected in 2021-2022:
Aubelle Vein System
50.1 g/t Au
Belleterre 19 Vein
21.7 g/t Au with 87.4 g/t Ag
Conway and Paquin Veins
274.9 g/t Au
59.8 g/t Au with 44.9 g/t Ag
Regional Area Drill Targets
The Regional Area Drill Targets include approximately 14,000 m of drilling within the remaining brownfield belt of the Belleterre Gold Project. Drilling will focus on multiple mineralization styles and varied commodities across the key areas of Guillet Mine Vein, Lac Paradis, Rivard-Savard, Lac aux Sables East, QFP-A, Hoskin Vein, and the Central Deformation Corridor.
Guillet Mine Vein, located at the western end of Lac aux Sables, with anomalous surface gold results, including 26g/t Au and 36.8 g/t Au.
Lac Paradis showings, located within a large +200 m mylonitic shear system at the western boundary of the Belleterre Greenstone Belt. Surface assay results obtained during the 2022 field season:
20.3 g/t Au with 100 g/t Ag
18.4 g/t Au with 394 g/t Ag
9.3 g/t Au with 55 g/t Ag
The Rivard-Savard target has demonstrated significant polymetallic potential, with historical data indicating zinc and copper and gold mineralization associated with quartz veins and graphitic shale, and a massive Andesitic tuff demonstrating a VMS (Volcanogenic Massive Sulphide) style of alteration.
Lac aux Sables East and Ultramafic Horizon are geological structures with high mineral potential, focusing on nickel, chromium, and base metal mineralization in ultramafic rocks, with surface samples already revealing significant values (+2000 parts per million ("ppm") combined). Geophysical data indicates strong EM conductors and magnetic anomalies in fold hinges and noses, offering promising opportunities for discovering new mineralized zones beneath glacial overburden.
These areas demonstrate significant surface mineralization and have been identified as prospective targets through the use of geophysical surveys, structural analyses, and geochemical evaluations, and have received minimal or no previous drilling.
Figure 2: Proposed Drill Target Collar Locations for +60,000 m Drill Program
Figure 3: Belleterre Mine Trend Drill Plan, simplified 3D model and drill targets, Southeast view
About the Belleterre Gold Project
The Project is located near the town of Belleterre in the Abitibi-Témiscamingue region of Quebec, 95 km south of Rouyn-Noranda and Val d'Or, Quebec. The property consists of 635 claims over an area of 348 km2, forming a district-scale exploration package. The Project includes the former high-grade Belleterre gold mine that produced over 750,000 oz gold (Au) at 10.73 grams per tonne (g/t) and 95,000 oz silver (Ag) at 1.73 g/t between 1936 and 1959 (Source: Sigeom MERN). The property has been under-explored in the past 60 years and has never been the subject of significant consolidation until now. The Belleterre Gold Project benefits from its advantageous location within the Abitibi-Temiscamingue region, providing competitive exploration costs and exceptional access to key resources. Within close proximity to two major mining towns in Quebec, it has access to a comprehensive and robust mining infrastructure that includes an extensive road network, easy access to power, and a readily available and skilled workforce. The past gold production at the Belleterre gold mine, and the highly prospective future gold targets generated by Vior, are a testament to the exploration potential of this area.
Marketing Service Agreement
Vior has entered into an agreement with Triomphe Holdings Ltd. (dba Capital Analytica) ("Capital Analytica") for investor relations and communication services (the "Consulting Agreement"). The Consulting Agreement has an initial term of three months commencing September 25, 2024, subject to TSX Venture Exchange ("TSXV") approval, under which the Corporation will pay Capital Analytica a fee of $60,000 for a period of three (3) months, with the option to renew on a month-to-month basis at a rate of $20,000 per month following the initial three-month term.
Pursuant to the terms of the Consulting Agreement, Capital Analytica will provide ongoing capital markets consultation, ongoing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and other related investor relations services.
Capital Analytica is based in Nanaimo, BC and is owned and operated by Jeff French who is arm's length to the Corporation. Capital Analytica and Jeff French do not hold any securities of the Corporation, directly or indirectly, and have no intention to do so as of the date of this Press Release.
Management Change
The Corporation announces the resignation of Mr. Laurent Eustache, Executive Vice President, effective September 1, 2024. Mr. Eustache will continue to provide advisory services on a consulting basis over the coming months, to aid in facilitating a smooth transition with Vior's operations.
Vior's President and CEO, Mark Fedosiewich, expressed, "On behalf of the Vior Board of Directors, Management, and the technical team, I would like to express our deep appreciation for the opportunity to have worked closely with Laurent, and wish to acknowledge his dedication to Vior over the past four years. His contributions cannot be understated, having been instrumental in the identification of the Belleterre Gold Project, including its successful consolidation and advancement. We wish Laurent all the best in his future endeavours."
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Christian Blanchet, Operations Manager at Vior, Qualified Person as per NI 43-101.
About Vior Inc.
Vior is a junior mineral exploration corporation based in the province of Quebec, Canada, whose corporate strategy is to generate, explore, and develop high-quality mineral projects in the proven and favourable mining jurisdiction of Quebec. Through the years, Vior's management and technical teams have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.
Vior is rapidly advancing its flagship Belleterre Gold Project with the strategic support of Osisko Mining Inc. The Belleterre Gold Project is an exciting district-scale property that includes Quebec's past-producing high-grade Belleterre gold mine. Vior has conducted extensive surface and compilation exploration at the Belleterre property and is undertaking a +60,000 metre drill program. Vior is also actively developing its promising Skyfall Project in partnership with SOQUEM Inc., and several other properties with multi-mineral potential.
For further information, please contact:
Mark Fedosiewich
President and CEO
613-898-5052
SEDAR+: Vior Inc.
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 release.
Forward-Looking Statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future including, without limitation, the closing of the Acquisition, the planned exploration program on the Belleterre project, the expected positive exploration results, the timing of the exploration results, the ability of the Corporation to continue with the exploration program and the availability of the required funds to continue with the exploration program. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Corporation's ability to control or predict, that may cause the actual results of the Corporation to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, delays in completing the required documentation to complete the Acquisition, failure to meet expected, estimated or planned exploration expenditures, the possibility that future exploration results will not be consistent with the Corporation's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims and environmental risks as well as those risks identified in the Corporation's Management's Discussion and Analysis for the fiscal year ended June 30, 2023. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Corporation has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
SOURCE: Vior, Inc.
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