Vendome Resources Acquires Additional Mining Claims at Ivanhoe Lake
05.09.2014 | FSCwire
Toronto, Ontario (FSCwire) - Vendome Resources Corp. (“Vendome” or “Company”) (TSXV:VDR, FRANKFURT:9VR), a Toronto, Canada based minerals exploration company with key exploration assets in Guerrero State, Mexico and the Borden Lake Gold District, Ontario, Canada, is pleased to announce that it has acquired additional mining claims contiguous to its Ivanhoe Lake Property, located in the Borden Lake Gold District, Ontario Canada. The additional claims are located directly adjacent to the western boundary of our original Ivanhoe Lake claims and double the size of our footprint in the region. The claims were acquired from the vendors of our original claims pursuant to an amendment to our existing agreement. Vendome will pay $6,000.00 to the vendors and amend the existing agreement to include the claims under the same terms and conditions as in the original agreement.
The claims are located approximately 50 km east of Probe Mines Ltd.’s (TSXV:PRB) Borden Lake Gold Zone which contains a pit-constrained Indicated Resource of 3,686,000 ounces of gold averaging 1.02 g/t Au and an additional Inferred Resource of 625,000 ounces of gold averaging 1.08 g/t Au (www.probeminerals.com). Probe has recently completed a drill program to expand on this resource and in particular, to outline a high grade sub-zone internal to the larger resource.
Vendome Chief Executive Officer John Priestner commented, “We believe the Ivanhoe Lake Project to have strategic significance in our path forward. This acquisition closes a land gap between our western boundary and the eastern boundary of a series of land claims which were staked by Mr. Michael A. Tremblay, the prospector generally credited with Probe’s Borden Lake gold discovery. These claims are located directly northeast of Probe’s East Limb property. We are very excited about our future in the Borden Lake Gold District, in part because of our proximity to the Probe discovery and because of the unique anomaly which is contained within our borders. It excites us that as recently as four weeks ago, Probe raised $26 million, which in our opinion further validates the merits of the region. Our property is drill ready.”
Geologically, the Ivanhoe Property is located in the western portion of the Swayze Greenstone belt, proximal to the Kapuskasing High metamorphic terrain. It is underlain by rocks typical of the Timmins gold camp, and includes variably altered and deformed mafic and ultramafic volcanic rocks, intermixed with Timiskaming-type conglomerates and porphyry intrusives. The Destor Porcupine Fault Zone, which is spatially associated with the prolific Timmins Gold camp, has been interpreted to extend across the Ivanhoe Property. Ivanhoe is accessible by a major highway, by railway, and by forest access roads.
ABOUT VENDOME:
Vendome is a mining exploration company located in Toronto, Canada. Our primary focus is to advance our flagship properties, San Javier, La Diana and San Miguel, which are located in the heart of the Sierra Madre del Sur precious metals belt, in the State of Guerrero, Mexico. The three properties encompass an area of over 17,000 hectares and have reported high grade silver samples of up to 15,000 g/t.
Vendome also owns property in the center of the Borden Lake Gold District in Ontario, Canada. Recently, Probe Mines Inc. (TSXV:PRB) made a major gold discovery in the Borden Lake area in the Kapuskasing Structural Zone (“KSZ”), which is located 60 kilometers to the southwest of our wholly-owned property. Our property is located in the KSZ, shares the same geological formation with Probe and is on strike with Probe’s multi-million ounce gold deposit. Borden Lake has become a new focus area for our team.
Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF Vendome Resources Corp.
W. John Priestner
President & Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
Contact:
Vendome Resources Corp.
Robert Chisholm, Director
(647) 932-1604
info@vendomeresourcescorp.com
robert.chisholm@vendomeresourcescorp.com
www.vendomeresourcescorp.com
The claims are located approximately 50 km east of Probe Mines Ltd.’s (TSXV:PRB) Borden Lake Gold Zone which contains a pit-constrained Indicated Resource of 3,686,000 ounces of gold averaging 1.02 g/t Au and an additional Inferred Resource of 625,000 ounces of gold averaging 1.08 g/t Au (www.probeminerals.com). Probe has recently completed a drill program to expand on this resource and in particular, to outline a high grade sub-zone internal to the larger resource.
Vendome Chief Executive Officer John Priestner commented, “We believe the Ivanhoe Lake Project to have strategic significance in our path forward. This acquisition closes a land gap between our western boundary and the eastern boundary of a series of land claims which were staked by Mr. Michael A. Tremblay, the prospector generally credited with Probe’s Borden Lake gold discovery. These claims are located directly northeast of Probe’s East Limb property. We are very excited about our future in the Borden Lake Gold District, in part because of our proximity to the Probe discovery and because of the unique anomaly which is contained within our borders. It excites us that as recently as four weeks ago, Probe raised $26 million, which in our opinion further validates the merits of the region. Our property is drill ready.”
Geologically, the Ivanhoe Property is located in the western portion of the Swayze Greenstone belt, proximal to the Kapuskasing High metamorphic terrain. It is underlain by rocks typical of the Timmins gold camp, and includes variably altered and deformed mafic and ultramafic volcanic rocks, intermixed with Timiskaming-type conglomerates and porphyry intrusives. The Destor Porcupine Fault Zone, which is spatially associated with the prolific Timmins Gold camp, has been interpreted to extend across the Ivanhoe Property. Ivanhoe is accessible by a major highway, by railway, and by forest access roads.
ABOUT VENDOME:
Vendome is a mining exploration company located in Toronto, Canada. Our primary focus is to advance our flagship properties, San Javier, La Diana and San Miguel, which are located in the heart of the Sierra Madre del Sur precious metals belt, in the State of Guerrero, Mexico. The three properties encompass an area of over 17,000 hectares and have reported high grade silver samples of up to 15,000 g/t.
Vendome also owns property in the center of the Borden Lake Gold District in Ontario, Canada. Recently, Probe Mines Inc. (TSXV:PRB) made a major gold discovery in the Borden Lake area in the Kapuskasing Structural Zone (“KSZ”), which is located 60 kilometers to the southwest of our wholly-owned property. Our property is located in the KSZ, shares the same geological formation with Probe and is on strike with Probe’s multi-million ounce gold deposit. Borden Lake has become a new focus area for our team.
Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF Vendome Resources Corp.
W. John Priestner
President & Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
Contact:
Vendome Resources Corp.
Robert Chisholm, Director
(647) 932-1604
info@vendomeresourcescorp.com
robert.chisholm@vendomeresourcescorp.com
www.vendomeresourcescorp.com