KIRKLAND LAKE, ON, Jan. 5 -
VAULT MINERALS INC.
(TSX-V: VMI) ("Vault" or the "Company")
announces that a 3,100 m Phase I diamond
drill program has recommenced on its
100%-owned Lebel property, subsequent to the
holiday break. The Company also reports
results of the first drill hole of the
program, including an intersection of 15.9
gAu/t over 1.0 m (5.5 gAu/t over 3.5 m),
located approximately 48 m below surface at
the Boundary Zone.
"It is gratifying to see immediate progress
in Vault's renewed effort to develop
near-term gold resources since regaining
control and direction of the property."
noted Joe Horne, Vault's President. "By
pursuing numerous high-grade and open-pit
targets that have been generated by limited
previous drilling, the potential of the
property may be significantly and quickly
enhanced".
The Boundary Zone is hosted on one of nine
major mineralized structures identified on
Vault's 3,100-acre Lebel property situated
in the prolific Kirkland Lake gold camp,
where in excess of 24 million ounces of gold
have been produced at a recovered grade of
16.1 gAu/t (0.47 oz/ton). The Boundary Zone
consists of three, sub-parallel mineralized
structures located 1,000 m east of the
past-producing Bidgood Mine that
historically produced 165,000 oz gold at a
recovered grade of 9.2 gAu/t (0.27 oz/ton).
These structures extend at least 200 m on
surface along strike with minimal trenching
or drilling having been carried out.
The intersection of 15.9 gAu/t over 1.0 m
lies within a broader, lower grade
mineralized zone that averages 2.4 gAu/t
over 9.0 m or 1.7 gAu/t over 14.5 m. This
first drill hole is a 30 m 'step-out'
northeast of a recent trench on the
Perreault Zone where chip sampling returned
an average of 5.1 gAu/t across 3.0 m along
an 18 m strike length, including one chipped
line of 8.9 gAu/t over 3.2 m. As previously
reported, individual higher grade assays
within the trench include 42.5 gAu/t over
0.4 m, 41.2 gAu/t over 0.5 m and 16.9 gAu/t
over 0.6 m. Strong mineralization was
observed in the trench up to where it became
covered by swamp.
The drill hole is the first of several
proposed holes intended to define a higher
grade, near-surface zone, as observed by
surface trenching, and that may be included
in a broad, lower grade open-pit scenario.
The three zones are hosted within a porphyry
unit with minor mudstone and wacke
sequences. The anomalous gold zones are
easily identified with up to 20% pyrite
mineralization in penetrative fractures, 15
to 60% quartz-ankerite veining, and strong
pervasive silica-chlorite-sericite
alteration; all of which are strongly
sheared.
Qualified Person and QA/QC Program
The technical content of this press
release has been reviewed and approved for
disclosure by Michael Sutton, P.Geo, Vault's
Vice-President, Exploration, who serves as a
Qualified Person for the purposes of
National Instrument 43-101 (Standards of
Disclosure for Mineral Projects). The
Company has instituted a quality assurance
and quality control (QA/QC) program to
ensure sampling and analysis of all
exploration work is conducted using industry
best practices, including assay control
samples. True widths are estimated to be
approximately 70% of core length.
About Vault
Vault Minerals Inc. is a Canadian junior
gold exploration company active in the
world-renowned Kirkland Lake gold camp of
northern Ontario. The Company's capital
consists of 40,104,543 issued and
outstanding common shares which are listed
for trading on the TSX Venture Exchange
under the symbol 'VMI'. For further
information, please contact Joe Horne,
President at 902 402 8266 or visit
www.vaultminerals.com.
On behalf of the Board of
VAULT MINERALS INC.
signed "Joseph D. Horne"
Joseph D. Horne, President & CEO
This Press Release may contain
forward-looking statements that involve
inherent risks and uncertainties. Actual
events or results could differ materially
from the Company's forward-looking
statements and expectations, and the Company
disclaims any obligation to update these
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."
For further information: Joe Horne,
President at (902) 402-8266 or visit
www.vaultminerals.com
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