Press
Release
June 3rd 2009
WORK IN THE GRENVILLE GEOLOGICAL PROVINCE TO
COMMENCE
In the
fall of 2008, Virginia Mines Inc. ("Virginia") entered into a new
strategic alliance with SOQUEM Inc.* to jointly explore some areas of the
Grenville geological province. As work manager, Virginia has since conducted
several EM-MAG heliborne surveys that led to the
acquisition, by mean of map designation, of three properties totalling 241
claims. These properties are characterized by a geology that has great
potential for discovery of nickel-copper magmatic mineralization. In certain
cases, that type of mineralization is found already on these properties.
During
the following months, Virginia and SOQUEM will undertake a short
diamond-drill program on one of these properties to test a heliborne EM conductor associated with ultramafic rocks (pyroxenites-olivine)
hosting some showings of disseminated sulphide or droplets (pyrrhotite-pentlandite-chalcopyrite)
that had graded up to 0.67% Ni and 0.74% Cu. Prospecting and mechanical
stripping is also planned on two other properties in order to evaluate many unexplained
heliborne EM conductors. One of these conductors is
located in the vicinity of a showing of disseminated sulphide (pyrrhotite-pyrite-chalcopyrite) within amphibolites,
which returned values of up to 0.98% Cu and 0.29 g/t Au. Other conductors are
located upstream of a pyroxenite-gabbro boulders
weakly mineralized (pyrrhotite-pentlandite-chalcopyrite)
that returned values of up to 0.39% Ni and 0.29% Cu.
* SOQUEM is a wholly-owned subsidiary of Soci?t? g?n?rale de financement du Qu?bec ("SGF"). The
SGF, the Quebec industrial and financial holding company, has as its mission
to undertake economic development projects in the industrial sector in
cooperation with partners and in compliance with the economic development
policies of the Government of Quebec.
AGREEMENT WITH THE NUNAVIK MINERAL
EXPLORATION FUND
Virginia
announces that it has entered into a new agreement with the Nunavik Mineral Exploration Fund ("NMEF"). As
per the agreement, Virginia and NMEF will jointly explore, in equal
partnership, two unexplored volcanic belts located in Quebec Great North.
NMEF will be the operator until December 31, 2009. Afterwards, Virginia will be in charge
of the operations.
Virginia announces that its 2009 Annual Report is
now available on SEDAR and on the SEC website. In addition, a Form 40-F
report has been filed with the SEC and is available on SEC website. Both
reports can also be found at www.virginia.qc.ca.
ABOUT VIRGINIA
Virginia
is among the most active mining exploration companies in Quebec with a
working capital of $38.5 million as at February 28, 2009, and 29,201,776
shares issued and outstanding as at April 30, 2009. Virginia trades on the
Toronto Stock Exchange (TSX) under the ticker symbol VGQ. Virginia
concentrates its activities on its numerous properties that are spread over
the vast, unexplored regions of northern Quebec.
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