Valerie Gold Resources Ltd. is part of the Lang Mining Group and appears to have shifted its focus to diamonds and PGM exploration in Canada. Throuh equity interest in Northern Orion Explorations it is involved in Argentina and Cuba.
Valerie
Gold Resources Ltd. VLG
(TSXV)
Works in Mexico through 85% owned Valerie Gold de Mexico S.A. de C.V.
La Estrella Property, Nayarit, Located 140 km SE of Mazatlan, Sinaloa. Optioned interest in 1,162 Ha claim and staked surrounding 15,000 bringing total land package to 16,866 Ha. A major 1,864 sample soil program conducted on grid of 426.6 line km. Target is quartz-amethyst stockwork and breccia zone cemented with pyrite, FeOx and MnOx in tertiary tuffs and flows. Silicification and kaolinitization present. Both Ag and Mo correlate with Au in soils. D.D.H. Geomanagement of Vancouver contracted for exploration work. A 2,500 DDH contract was signed and began in early March. Four sections of at least two holes each and separated by 200m will be drilled a an azimuth of 255 degrees. Mineralization on surface shows indications in the form of a Au+Ag bearing epithermal quartz breccia zone extending at least 1.5 km along strike and is still open. As of May, 1999 nine holes totaling 2447 m were completed. They explored a 600m by 150 m wide section of the altered area. All holes encountered alteration and quartz veining, brecciation and stockwork. Assays for the first 8 holes show that all holes encountered sections with low-grade Au mineralization with occasional high-grade intersections. Overall the widths and grades are less than anticipated and do not meet the company's objectives.Press Release 13May99
NMN V85#1, March 1-7, 1999
CSW 26Feb99
GCN #220 17Nov98
LAMR August, 1998
GCN #129 7Jul98El Real Property, Guerrero. Acquired 168 ha property from Minera Orca S.A. de C.V.
GCN #229 28Nov9e7
Mamatla Mineral Reserve Concession: Part of Lang Mining Group. Has delivered responsibility for future exploration and development on the 85% owned 26,500 ha. Mamatla Mineral Reserve Concession to TVX Gold Inc. Senior geologist Carl Hansen appointed by TVX Gold as project manager in September, 1997.. Encouraging results from drilling Mamatla Property, massive sulfides located in Guerrero State around 200 km SW of Mexico D.F. Total of over 7400m drilled on SE quadrant in 58 holes. Three types of mineralization identified in four Zones: Additional drilling, geophysics and geochemistry is ongoing. two Longyear LF70s are operating and so far 11,500m have been drilled in 96 holes. Airborne geophysics commenced in December, 1996. Includes 2200 line km of radiometrics, mag and EM. Results expected by mid-February '97. IP studies underway and a large 600m by 1500m anomaly reported at Azulaquez. SE of Cruz Blanca..
Summary of 1997 work identified 5 potential zones of interest warranting drilling : Manto America Au-Ag Zone, Aurora North Copper Anomalies, Guadalupe Zinc showing, Rancho Nuevo Au-Ag showing and Santiago Salinas Showing.GCN #18 27Jan98
Manto America Zone, located in the NE quadrant of the concession is a relatively new development where gold-in-soil anomalies run as high as 876 ppb. Anomalous soil gold values extend for 1.5 km along strike. The old Manto America adit has Au, Ag and sphalerite plus galena hosted in sericitized and pyritized volcanics.800m of diamond drilling is planned for Phase I in 1Q98 and began in March. The program is under the supervision of Carl Hansen, Senior Geologist for TVX Gold.
LAMR March, 1998
GCN #18 27Jan98
GCN #199 16Oct97El Capire-Aurora I Zone: Average grade is 0.32 grams Au, 97.6 grams Ag, 0.49% Pb, 1.15% Zn and 0.07% Cu over 30m thickness of disseminated Au-Ag-Pb mineralization in volcano-sedimentary basin. A total of 35 holes have now been drilled in this zone. Mineralization is flat-lying around 30m thick in an open-pittable geometry. It is still open to N, NW, S and SW and step-out drilling continues.
Aurora II sector: 4 drill holes suggest average grade of 0.76 grams Au, 225 grams Ag, 0.62% Pb, 1.44% Zn and 0.12% Cu over thickness of 11.9m.
Cruz Blanca sector: mineralization associated with felsic tuff in shallow-dipping manto configuration. 2 holes show average grades of 0.77 grams Au, 408.9 grams Ag, 2.31% Pb, 5.11% Zn and 0.48% Cu over a 5.15m thickness.
Yerba Buena sector: sediment-hosted stringer-type mineralization where a single hole showed 0.16 grams Au, 57.5 grams Ag, 2.14% Pb, 5.61% Zn and 0.06% Cu over a thickness of 20.8 m. A second drill is now working in this sector where 7 holes are planned.
IP surveys being completed over Velixtla, San Carlos and La Plaza Zones. Drilling will start on Azulaquez Zone upon completion at Yerba Buena.CSW 30May97 (tabulated drill results)
GCN #30 12Feb97
CSW 3Jan97
GCN #246 20Dec96
CSW 15Nov96
GCN #220 14Nov96
NewsMine 8-Nov-96
NMN v82#14 06/03/96
PROSP Jul/Aug 1996
