Virginia Mining Company To Start Drilling Gold Mine In James Bay, Quebec
Virginia Mining Corp. is a mining company that has spread outside the drilling area in the Quebec region.
In near future Virginia Mining immediately begin drilling a gold mine in James Bay, Quebec. This mining company will drill six holes in a gold mine with an estimated drilling time for six months, the total area of 16,500 meters of drilling.
Gold mine drlling will be held at the company’s 100% owned Poste Lemoyne Extension, La Grande Sud, Lac Pau and Anatacau-Wabamisk project. Through partnership with Odyssey Resources, Virginia also plans to start drilling in the FCI Auclair and gold projects.
The Poste Lemoyne Extension property is host to the Orfee zone containing a resource of 88,588 tonnes grading 9.44 grams per tonne gold in the measured category and 114,895 tonnes grading 18.4 grams per tonne gold in the inferred category.
Drilling program will test several new gold performances found on the surface during the summer of 2008 and 2009 field programs. Drilling will include a minimum of 20 drill holes totaling more than 2,500 meters. The new Genesis gold values up to 52 g / t Au in taking samples and up to 20.98 g / t Au over 2 meters in the sample channel and spread across more than 37 kilometers along a corridor that contains gold.
In Virginia’s La Grande Sud project, the company has started eight hole program aimed at total of 2150 meters. La Grande Sud property is host to the 32 Zone gold-copper mineralization is reported at 4.2 million tonnes of 2.1 grams per tonne gold and 0.2% copper in the spring of 1999. Read more
Adds 3% in Euros Following India-IMF News, Gold Leaps to New Dollar Highs
From Chris Mullen at GoldSeek.com…
Gold jumped near a new record high late Monday night, reaching as high as $1065.92 in early Asian trade after it was announced that India bought 200 metric tonnes of metal from the International Monetary Fund, and then surging again in New York trade to make new all-time highs at $1085.95.
For the session, the Gold Price in Dollars ended with a gain of 2.9%. The Euro price of Gold leapt to €739 an ounce, up more than 3% on the day.
Oil rose in late trade as the US Dollar index reversed notable early gains and ended only slightly higher after decent economic data – showing a sharper than expected rise in US factory orders – plus Warren Buffett’s decision to buy Burlington Northern in what he described as a “bet on the country” eased banking fears. Read more
Gold Touches $1098 on Fed’s “Zero Stays” Decision
From Chris Mullen at GoldSeek.com…
Gold saw slight losses in Asia on Wednesday and then rose almost 1% to reach as high as $1095.25 by early trade in London.
The Gold Price then pulled back under $1090 around 08:00 EST and rose to a new all-time high of $1095.42 an ounce a little before noon.
Gold fell back off in the last couple of hours of trade, but ended with a new closing record, up 0.2%.
The Dollar Gold Price then shot to a new trading record of $1098 an ounce in after-hours access trade, shortly after the Federal Reserve said it will keep US rates at zero for an extended period. Read more
