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Canada Business News and Press Releases
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(EMAILWIRE.COM, September 12, 2011 ) Press Release Distribution Services: http://tojongmboh.emailwire.com
ROUYN-NORANDA, QC -- Visible Gold Mines Inc. (TSXV: VGD) (Frankfurt: 3V4) is pleased to report that it has completed 13 holes and 8,800 metres of drilling in a Phase 1 campaign at its Wasa Creek Property, part of the Company's optioned Lucky Break Project that covers 6,036 hectares of under-explored ground west of Rouyn-Noranda, Quebec, in the vicinity of Richmont Mines' Wasamac gold deposit.
Visible Gold Mines is eagerly anticipating assay results for an additional 12 holes after the very first hole drilled at Wasa Creek (LBWC-11-03) cut four distinct zones of gold mineralization with encouraging assays as announced August 11, 2011. Mineralization has been observed in drill core over a wide area at this previously unexplored property, from LBWC-11-05 at the western edge to LBWC-11-11 in the northeast sector (a distance of 2,300 metres). LBWC-11-12, for example, centered approximately in between those two holes and collared 430 metres northeast of LBWC-11-03, intersected a total of 10 zones of mineralization beginning 46 metres from surface and ending near the bottom of the hole (total vertical depth was 563 metres). This included multiple mineralized shear zones up to 13 metres in length in addition to a well-mineralized five-metre quartz carbonate vein structure in Archean volcanic rock near the end of the hole. These mineralized sections contain 2-5% pyrite and some chalcopyrite.
A better geological understanding of the Wasa Creek Property is beginning to emerge. Wasa Creek covers a 3.5-kilometre stretch of the prolific Cadillac Fault, spatially related to numerous large gold deposits from east of Val-d'Or to the famous Noranda mining camp to the former 11-million ounce Kerr Addison Mine in Virginiatown, Ontario. Intense fracturing and displacement have been observed at Wasa Creek and it's now believed that the Cadillac Fault runs in a northeast direction, as opposed to a straight east-west direction, under at least half of the property and then it bends to the east, creating a zone of major geological interest. In addition, given intriguing thickness variations in younger sedimentary rock formations of the Cobalt Group that cover the Cadillac Fault, important north-south secondary faults are now interpreted to exist at Wasa Creek in areas north of the Cadillac Fault (this is believed to be significant). Visible Gold Mines is immediately proceeding with a ground-based IP survey as well as a down-hole geophysics probe at the property in light of this new information and to assist in identifying drill targets for an aggressive Phase 2 program.
The Wasa Creek Property, and Visible Gold Mines' entire Wasamac-area land package, is situated in an area of growing exploration and mining importance beginning approximately 15 kilometres west of Rouyn-Noranda. Wasa Creek adjoins the western boundary of Richmont's Wasamac Property, where five drill rigs are currently active, while Richmont's Francoeur Mine is just a few kilometres to the northwest of the eastern edge of Wasa Creek. The former Aldermac Mine, which produced copper, gold and silver between 1936 and 1943, is 2,500 metres directly north of Wasa Creek.
"Positive early indications from Wasa Creek and Richmont's continued exploration success at Wasamac underscore the potential of this entire area which has clearly been under-explored," stated Martin Dallaire, Visible Gold Mines' President and CEO. "In a very short period of time our geological team has gained an immense amount of new understanding concerning structure at Wasa Creek which will aid us tremendously as we move forward and attempt to define a potential deposit. While we eagerly wait for more assays from our Phase 1 drilling, and carry out an IP survey and some down-hole geophysics, we will be shifting our Wasamac-area land package drilling from Wasa Creek to Wasa East. We'll then return to Wasa Creek for Phase 2."
Maps showing the location of all Phase 1 drill holes at Wasa Creek, in addition to the company's entire Wasamac-area land package, can be viewed at www.visiblegoldmines.com.
Wasa East
Rock samples have been collected at Wasa East and have been sent for assaying. Very little historical work has been completed at this property but initial drilling will focus on an area where trenching was carried out and a few short holes were drilled in the 1940's and 1950's. Results from that work are unknown but the amount of trenching suggests that mineralization may have been detected near-surface.
Wasa East adjoins part of the eastern boundary of Richmont's Wasamac Property, immediately south of the Wasa Shear, and is mostly composed of volcanic rocks (basalt, andesite and diorite). Wasa East is situated between two major faults that are approximately 2.5 kilometres apart - the Cadillac Fault and the Wasa Shear, the principle structure hosting gold mineralization at the Wasamac deposit.
Geophysical anomalies indicate there could be many parallel zones to the Wasa Shear and the Cadillac Fault, and ground surveys show the presence of a fault suggesting a direction which can connect both gold-bearing systems. Visible Gold Mines considers Wasa East highly prospective for hosting a potential gold deposit and is looking forward to drilling this area.
Joutel Project
Drilling has commenced at the Joutel Extension Property, 150 kilometres north of Rouyn-Noranda with the first hole of a 7,500-metre Phase 1 drill program nearing completion. Most of the planned Phase 1 holes are within 2,000 to 5,000 metres of three former gold mines and two past producing copper mines. A northwest-southeast mineralized structural pattern, based on geophysical surveys, appears to strike directly southeast of Agnico-Eagle's past-producing Telbel, Eagle and Eagle West mines for two kilometres and may extend farther to the former village of Joutel and beyond (please see map with drill plan on Company's website under the Joutel section).
"Joutel is a significant former mining camp with tremendous potential to host additional gold deposits," stated Dallaire. "Robert Sansfacon, our senior geologist, is applying a fresh geological approach to the project which has us very excited about the potential success of this current drill program."
Visible Gold Mines has an option to earn a 50% interest in Joutel from Agnico-Eagle Mines.
Qualified Person
This news release was written by Martin Dallaire, P.Eng., President and Chief Executive Officer of Visible Gold Mines and approved by Jeannot Théberge, P.Geo., in his capacity as a Qualified Person (QP) under NI 43-101.
Quality Control
Visible Gold Mines has implemented and adheres to a strict Quality Assurance/Quality Control for its current drill programs. It includes one mineralized gold standard, one duplicate and one blank for one batch of 20 samples. Analyses are performed by ALS Chemex, Val-d'Or, or Techni-Lab, Ste-Germaine - Boulé, accredited laboratories.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively searching for the next important gold deposit in northwestern Quebec, an area consistently ranked as one of the world's best jurisdictions for mining and exploration. Visible Gold Mines is in the midst of a $6.5 million, 40,000 metre drill program covering strategic areas in the Rouyn-Noranda mining region. The Company has no debt and its current cash liquidity is approximately $4.2 million.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Visible Gold Mines Inc.
Corporate
819-762-0609
info@visiblegoldmines.com 
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