Nov 11 2015
SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. is pleased to report the results of the second phase of its exploration program carried out in the summer of 2015, which confirm and constrain the proximity of one or more rutile-rich titaniferous sources in the vicinity of the Boudreau showing on the Foothills project, located near St-Urbain, a historic iron-titanium mining camp about 100 kilometres east of Quebec City. The Foothills project, wholly owned by Vior, consists of 466 map-designated claims totalling 270 km2.
A strong enrichment in rutile (TiO2) has been observed and quantified in boulders, stream sediments and soils in the vicinity of the recently discovered Boudreau massive ilmenite showing (see figures of Foothills on website: www.vior.ca). The latest geochemical and mineralogical results from samples collected in August confirm the existence and better define a proximal source of ilmenite (Fe2TiO3) enriched in rutile (TiO2). A total of 176 rock samples from outcrops, boulders and cobbles, as well as 89 stream sediment samples and 42 soil samples were collected in the field; about one third during the second phase of the program. The results demonstrate the presence of numerous ilmenite boulders enriched in rutile in this area, with an average TiO2 content of about 53.9%, i.e. markedly higher than the rutile-free ilmenite mineralization at the Boudreau showing, where the TiO2 content ranges between 36.2% and 38.8%.
In addition, the rutile content of heavy mineral concentrates from stream sediment and soil samples collected in the vicinity of the Boudreau showing exhibits a marked increase both up- and down-ice. Rutile/heavy mineral ratios locally reach up to 0.93% in stream sediments, and rutile/ilmenite ratios in soils reach 3.1%, compared to average ratios of 0.19% and 1.3% respectively for the entire survey area. This indicates a significant rutile enrichment in the Boudreau showing area. Prospecting work was also carried out around additional magnetic anomalies located near the Boudreau showing, namely anomalies E1 to E3 in the northwest, and H1 and H2 in the south; the latter are also associated with rutile-rich samples.
In August, the Company also conducted a ground-based gravity survey over the new ilmenite occurrences at Blueberry Lake. The survey was designed to test, in an easily accessible area, the effectiveness and ability of the method to detect massive ilmenite bodies potentially enriched in rutile. The results show a gravity anomaly directly associated with the Blueberry Lake showing, as well as two additional anomalies, similar but as yet unexplained.
The Company is planning a follow-up exploration program over the coming months, mainly in the Boudreau showing area and on nearby magnetic anomalies (E1 to E3, H1 and H2). The ground-based gravity survey on the Blueberry Lake showing proved to be an effective exploration tool to detect massive ilmenite bodies. The Company is planning to conduct this type of survey in the Boudreau showing area, where the geochemical signature of rutile associated with ilmenite is clearly defined. Observed gravity anomalies will be the focus of subsequent follow-up work by prospecting and possibly stripping.
In the industry, most of rutile and ilmenite is processed into non-toxic white titanium dioxide pigment for use in the manufacture of paints, plastics, paper, textiles, cosmetics and ceramics. Rutile is also used to produce titanium metal for use in aircraft, spacecraft, surgical implants, motor vehicles and desalination plants (source: Geoscience Australia website). The forecast for the price of the rutile on the market is estimated between US$1,075 and US$1,250/tonne for the years 2015 to 2017 (source: Crédit Suisse - Equity Research, March 28, 2014).
This press release was prepared by Mr. Marc L'Heureux, P.Geo. who is the Company's Qualified Person.