11.48 grams per tonne Gold over 1.43 metres or 0.334 oz. over 4.7 feet
At the Buffalo Ankerite Property, Timmins, Ontario
Toronto, Ontario CANADA, November 19, 2008 /FSC/ - VG Gold Corp. (VG - TSX, VN3 - FWB), announces drill results from 5 exploration drill holes recently completed at the South Mine area of the Buffalo Ankerite Property. The holes were testing the known gold mineralization at moderate depths, between the open pittable near surface resource and the deeper mineralization that has been intersected on the property. The results continue to confirm gold mineralization at South Mine area of the Buffalo Ankerite property.
* VBA-08-130 assayed 5.4 grams Au per tonne over 1.52 metres
* VBA-08-132 assayed 2.17 grams Au per tonne over 5.39 metres
* VBA-08-133 assayed 1.17 grams Au per tonne over 23.62metres
Including 3.13 grams Au per tonne over 4.57 metres
* VBA-08-134 assayed 11.48 grams Au per tonne over 1.43 metres and
* VBA-08-134 assayed 1.38 grams Au per tonne over 15.24 metres
The Company's drilling program is exploring and delineating steeply dipping gold mineralization in the South Mine area with the current results coming from work that is outlining gold mineralization from near surface to depths of 400 metres at the South pits location in the eastern part of the South Mine area. Drilling has also been ongoing below 500 metres, continuing to follow the gold mineralization to greater depths. Several neighbouring mines have been developed to depths in the range of 1,700 to 2,500 metres. The South Mine zones remain open to depth and along strike. The current results confirm the significant widths of the mineralization with economic assays over widths greater than 20 metres in hole VBA-08-133 and over 15 metres in hole 134.
Four drill holes tested east - west trending gold zones that are located in the east area of the Buffalo Ankerite South Mine. The Buffalo Ankerite Property saw historical production of 1,018,000 gold ounces between 1926 and 1953 (Ontario Ministry of Northern Development and Mines, Buffalo Ankerite & Ankerite March listings). The property continues to hold significant potential to explore deeper down dip gold mineralization. Records of historic underground workings and drilling indicate good potential to expand gold mineralization on the property. Known gold mineralized stratigraphy crosses the South Mine area of Buffalo Ankerite property for a strike length of 2,000 metres which is located within the 6,000 metre length of the regional geological structure, known as the south limb of the Porcupine syncline. The Porcupine Gold Camp has produced more than 60 million ounces of gold to date (source: Ontario Ministry of Northern Development and Mines).
The drill program intersected mineralized quartz-tourmaline breccia zones which are recognized as host rocks for ore in the prolific Timmins Gold Camp, and all of the drill holes intersected gold values. The mineralization has a known depth extent of 200 metres at the east end of the property to an undefined but greater than 2000 metres below surface in the central section of the property. The mineralization remains open at depth in the central and western portions of the property where it is known to extend more than 2000 metres below surface. Our targets are in the area of the historic production on the Buffalo Ankerite property where we are exploring the extensions of, and adjacent to, the previously mined areas.
Intersection Length Gold
(In Metres) Grams per Ounces per
From To Metres Feet tonne ton
Lengths reported are core intersection lengths and do not represent true widths.
It is anticipated that true width estimates will be made possible after additional drilling.
Conversion: grams per tonne times 0.0292 equals troy ounce per short ton.
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for VG Gold, who has reviewed the this press release. Gold analysis of samples collected by VG Gold was assayed by Laboratoire Expert in Rouyn-Noranda, Quebec. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance program (QA/QC) is in place, using control samples such as Blanks and Rocklabs Standards and duplicate checks. In addition, duplicate analyses of 10% of the samples were corroborated by check assays on sample performed by Bourlamaque Laboratory of Val D'Or, Quebec.
For further information contact
President of VG Gold
416 368 0099
To learn more about VG Gold (TSX: VG), visit our website: www.vggoldcorp.com
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Source: VG Gold Corp., (TSX: VG) http://www.vedron.com
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