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Lexam VG Gold Announces Positive Drill Results from Buffalo Ankerite Project in Canada

Lexam VG Gold, an exploration company, has announced positive drilling results from 13 new holes at the Canada-based Buffalo Ankerite Project.

Highlights of the drilling program comprise 4.24 gpt gold over 16.6 including 18.42 gpt gold over 2.6 m. The hole was drilled to 100 m over a prior hole that encountered 9.31 gpt gold over 1.5 m. The results validated the extension of the mineralized zone along strike and down dip.

Drilling focused on expanding the North Zone resource both along strike and to depth. The mineralization includes a number of zones as shown in hole VBA-12-194, which returned 4.24 gpt gold over 16.6 m including 18.42 gpt gold over 2.6 m, and 1.49 gpt gold over 45.5 m including 5.89 gpt gold over 2.4 m.

The drilling enabled the extention of mineralization to depth from the current resource region. VBA-11-192 and VBA-12-194 intersected mineralization beneath the present resource. Hole 192 returned 7.52 gpt gold over 2.2 m and expanded the resource 300 m deeper on the zone’s southern end. Hole VGP-11-124 intersected 7.75 gpt gold over 3.0 m and has validated the mineralization continuity of 400 m beneath the identified resource area in the central region.

Drilling focused at extending the resource at the South Zone along strike, at depth and down plunge. The holes focused on extending the zone to the west, typically following-up on VGA-11-04 hole, which returned 3.47 gpt gold over 16.8 m including 13.44 gpt gold over 2.2 m. The South Zone was expanded both up and down dip. Hole VGA-11-09 returned 5.42 gpt gold over 4.7 m about 60 m up dip, and hole VGA-11-10 extended the zone 25 m down dip. The drilling results have validated the continuity, and the mineralization was extended to the west.

In February 2009, the last resource estimate for the Buffalo Ankerite project was concluded. A new resource estimate, which will comprise all successive drilling, is currently ongoing and will be released by April end.

Source: http://www.lexamvggold.com/

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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