Val-d’Or Mining Corporation – Beginning of drilling on the Ducros group of properties | 2022-01-20 | Press Releases

Val-d’Or, Quebec–(Newsfile Corp. – January 20, 2022) – Val-d’Or Mining Corporation (TSXV: VZZ) (“Val-d’Or Mining” or the ” Company) announces that drilling has begun on the Ducros group of properties. This first-phase drilling program is part of a larger exploration program with a budget of over $5 million, including 20,000 meters of diamond drilling. Drilling began on January 18, 2022, as announced in a press release on January 13, 2022 by the program operator Quebec Nickel Corp. (“NIQThe Company holds a direct stake in this group of properties through an NSR of 1.5% as well as an indirect stake through the ownership of 3,508,461 shares in the capital of QNI. Both stakes have acquired in a transaction first announced on October 27, 2020.

Based on the public disclosure made by QNI, the following milestones have been achieved since the transaction was first announced on October 27, 2020:

  • QNI announced the listing of its shares on the Canadian Securities Exchange and the start of trading on July 6, 2021.
  • QNI announced a first-phase exploration program on August 4, 2021. The program was budgeted at $375,000 and included a property-wide helicopter-borne magnetic and electromagnetic (Mag-EM) survey (see also press release). QNI press release dated August 23, 2021), stripping, mapping, prospecting and sampling (see also QNI press release dated September 23, 2021), as well as the construction of a 3D geological model using historical and modern data.
  • QNI first reported an increase in the area covered by the NSR by 1.5% on October 20, 2021. The area increased from 12,851 hectares (239 claims) to 15,179 hectares (280 claims) due to the acquisition of additional claims by QNI in the area of ​​influence.
  • QNI announced the closing of a private placement financing of $7.7 million on November 10, 2021. The financing included $6.7 million in flow-through funds dedicated to the Ducros group of properties.
  • QNI announced the engagement of Orbit Garant Drilling on November 25, 2021. The total drill program is expected to be 20,000 meters, with a phase one drill program that will focus on three nickel-copper-PGE target zones:
    • Fortin Ni-Cu-PGE showing (eastern sector of the property)
    • Seuil Ducros (central part of the property)
    • Ducros Gabbro sector (western sector of the property)
  • QNI further announced on November 25, 2021 that the Phase II drill program will aim to test additional targets identified from the 1,717 line kilometer helicopter-borne VTEM survey across the property, based on the results obtained. from follow-up ground-truthing geophysical surveys. , prospecting/sampling and geological fieldwork, in addition to other prospecting/geological/geochemical targets identified on the property through the Company’s ongoing exploration activities.

Michael P. Rosatelli, geo. (OGQ Special Authorization Permit; PGO #0855), Val-d’Or Mining’s VP Exploration is the Qualified Person (as that term is defined in NI 43-101 – Disclosure Standards for mining projects) who has approved the technical disclosures included in this press release, based solely on QNI’s public disclosure.

About Quebec Nickel Corp.

Quebec Nickel Corporation. is a mining exploration company focused on the acquisition, exploration and development of nickel projects in Quebec, Canada. The Company holds a 100% interest in the Ducros Group Property, consisting of 280 contiguous mining claims covering 15,149 hectares in the Abitibi region located in Quebec, Canada.

About Val-d’Or Mining Corporation

Val-d’Or Mining Corporation is a junior natural resources issuer involved in the process of acquiring and exploring its mining assets, most of which are located in the Abitibi greenstone belt of northeastern Ontario and northeastern western Quebec. In order to complement its current real estate interests, the Company regularly evaluates new staking and/or acquisition opportunities. Apart from its main regional concentration in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Quebec (Nunavik) covering different geological environments (Ni-Cu-PGE).

The Company has expertise in the identification and generation of new projects, as well as in the early stages of exploration. Mining interests are vast and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. Following initial value creation in wholly owned or majority owned properties, the Company seeks option/joint venture partners with the technical expertise and financial capability to pursue more advanced exploration projects.

For more information, please contact:

Glenn J. Mullan

2864 Sullivan Road

Val-d’Or, Quebec J9P 0B9

Phone. : 819-824-2808, extension 204

Email: [email protected]

Forward-looking statements:

This press release contains certain statements that may be considered “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to “, “estimates”, “plans”, “potential” and similar expressions, or that events or conditions “will”, “would”, “could”, “might” or “should” occur. the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results or realities may differ materially from those in the forward-looking statements. estimates and opinions of the Company’s management as of the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions or other factors should change.

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 press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110904

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