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Golden Valley Updates Abitibi Exploration Project

By: MT Newswires
Posted: 5/16/2013 3:29:00 PM
Referenced Stocks:

Golden Valley Mines Ltd. (GZZ.V) reported on drilling activities at the company's Abitibi Greenstone Belt Grassroots Exploration Project.

A first-phase diamond drilling program has been completed on the Lac Barry Prospect in Quebec. The program consisted of eight drill holes, totalling 999-metres, testing two separate target areas on the property separated by a distance of approximately five kilometres. The property is 100%-owned by Golden Valley.

At the Perestroika West Prospect, a four hole, 573-metre drill program was completed. The drill core is currently in the logging and sampling process and assay results will be released as they become available.

Golden Cariboo recently reported having received regulatory approval of an amended and restated mining option agreement with Golden Valley and Integra Gold Corp. under which Golden Cariboo can earn a 70% interest in a portfolio of twelve properties located in the Abitibi Greenstone Belt.

On June 12, 2012, the company granted an option to Sirios Resources Ltd. to acquire the company's 60% interest in the Sharks and Cheechoo prospects located in the James Bay area of northern Quebec.

GZZ shares were down half-a-cent at $0.075.