|Property Size:||1,330 hectres|
Overview: The Rossland properties are located in southeastern British Columbia, Canada. The properties surround the town of Rossland, which is about 400 km east of Vancouver and 8 km north of the Canada-US boarder. The properties consist of two principal groups: The North Belt, which includes the former producing gold mines Iron Colt, Evening Star and Georgia, and the South Belt, which includes the former producing lead/zinc Blue Bird-Mayflower mine and Homestake-Gopher gold mines. Vangold holds a large land position of approximately 1,330 hectares in the district and controls almost all of the South belt property in a single, contiguous block. Our properties contain numerous old pits, shafts, adits and other workings constructed to explore and develop numerous gold occurrences. In February 2005, Vangold entered into an option and joint venture agreement with a private company to facilitate exploration of our Rossland properties. The Agreement calls for the optionee to expend $1,850,000 and issue 800,000 shares in installments through July 2009 to earn a 70% interest in the properties.
|Vangold's claims, Rossland, B.C.
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History: Rossland is BC's second largest gold producing camp in history, with over 3 million ounces of gold and 3.5 million ounces of silver produced between 1899 and 1928 from the Le Roi, Centre Star, Josie, War Eagle and other mines. The main producing properties were amalgamated by 1911 and provided the basis for the formation of the Consolidated Mining and Smelting Company, later Cominco, which was subsequently merged into Teck-Cominco Ltd.
More than 98 per cent of the ore shipped from the Rossland camp was produced from the main vein. The Le Roi deposit, part of the main vein system, consisted of a series of ore shoots with narrow width or strike length with the greatest dimension on the dip. Between 1889 and 1917, 1,791,680 tonnes of ore were mined from the Le Roi deposit from which was recovered 24,091,170 grams of gold, 37,563,105 grams silver and 21,330,618 kilograms copper1.
Geology: The district is comprised of several areas of mineralization which include the North belt veins, the South belt veins and the Main veins. The deposits are structurally and in part, stratigraphically controlled mesothermal copper-gold veins composed of pyrrhotite with chalcopyrite in a gangue of altered rock with minor lenses of quartz an calcite. The deposits typically consist of a series of narrow, steeply dipping shoots with short strike lengths but good down-dip persistence and good grades. In the south belt, veins contain gold-copper in addition to spharerite, alena, and lead/antimony mineralization. Drill intersections include 36gAU/t across 5.7 meters, 20gAu/t across 2.9 metres and 22gAu/t across 2.0 metres.
While exploration at the Main vein has been extensive, exploration of the South belt to date has been fairly limited. This was due in part to a long period of fragmentation of land positions that was not conducive to large-scale exploration. However, continued acquisition of claims in the South belt by Vangold has culminated in our now extensive holdings in the area.
"Exploration potential in the South belt property is indicated by the district-scale model of hydrothermal zoning on mineralization around the monzonite (Thorpe, 1967; Hoy and Dunne, 2001). The major premise is that the polymetallic veins in the South belt have potential to zone downward to Au-Cu veins of economic grade and width similar to the major former producers in the Main belt of the district1."
Dr. James R. Lang - 2003, P.Geo, Gold Mineralization in the South Belt of the Rossland
Camp, Rossland British Columbia
Potential exists for disseminated gold deposits in the Deer Park (South belts) and Giant Mine (Main belt west) areas where porous sedimentary rocks have been altered and mineralized. Only preliminary investigations have been conducted on these types of target.
1 Ministry of Energy and Mines, British Columbia, Capsule Geology and Bibliography - 082FSW093