TORONTO, ONTARIO, Aug 25, 2017 (Marketwired via COMTEX) — TORONTO, ONTARIO–(Marketwired – Aug. 25, 2017) – VVC Exploration Corporation (“VVC” or the “Company”) (VVC) is pleased to announce (i) the start of diamond drilling on the Samalayuca Copper Project, (ii) the signing of a letter of intent on the La Tuna Gold Property, both projects in Mexico, and (iii) a financing of up to CA$1 million.
Drilling Program
A diamond drilling program started on August 23, on the Company’s Samalayuca Copper Project (“Samalayuca”) located in Northern Chihuahua State, Mexico, approximately 50 kilometers to the south of Juarez, MX and El Paso, Texas. The Company recently completed a magnetic survey of the area around the previously mined open pit, La Gloria area which was mined by gambusinos (artisanal miners) up until the 1960’s. An area of low magnetic intensity, generally coincident with, and thought to be reflective of, the alteration associated with the copper mineralization, is being used to guide the planned 3000 m drill program. The Company anticipates completing up to 15 inclined drill holes, each from 100 to 300 m in length, in this exploration phase with the aim of delineating the copper mineralization in the La Gloria pit area.
“We are very excited that after a long period in the permitting process the Company has begun drilling at Samalayuca. Helped by the positive magnetic survey results, we are looking forward to drilling results,” said James Culver, CEO of VVC.