Val-d’Or Mining Corp. [TSXV: VZZ] reported results from the 2025 diamond drilling program on the Perestroika Prospect, located in Courville Township, Québec, approximately 40 km northeast of Val-d’Or, Québec.
The property is under option to Eldorado Gold (Québec) Inc. which may earn a 70% interest in each of the Murdoch Creek, Claw Lake, Cook Lake and Perestroika properties, on the terms detailed below.
The 2025 diamond drilling program was budgeted at US$0.84 million. Drilling activities were conducted over the February to March period with follow-up detailed logging, sampling and data compilation work as the holes were logged and analytical results received. A total of 12 holes were completed (PE-25-009 to PE-25-020), for a cumulative sum of 5,004 metres drilled, utilizing two diamond drill rigs. Eldorado Gold is the project operator.
This is a Phase II diamond drilling program, intended to follow-up on promising gold values intercepted in the 2024 program.
The objectives of the 2025 drill program were as follows: to follow-up on DDH GPS-09-01 (3.05m at 20.69 g/t Au) and PE-24-004 (8.60m at 4.45 g/t Au (including 0.50m at 18.16 g/t Au and 0.90m at 12.33 g/t Au.); to define and delineate the existence of lithological and structural controls (i.e. plunge) on the previously intersected gold mineralized veins; and to test for additional shear zones and structures elsewhere the property.
The drilling results have expanded the mineralized footprint from the 2024 program to the southeast, northwest and south of GPS-09-01 and GPS-09-02, along strike and parallel to the mineralized trend.
Drillholes PE-25-14, PE-25-015, PE-25-019, and PE-25-020 followed up on the results of PE-24-008 (27.60 metres at 0.53 g/t Au from 240.70 m), over approximately 350 metres. Wide zones of lower-grade mineralization were intersected, such as 18.40 m at 1.28 g/t Au (145.60 m – 164.00 m) in PE-25-014, in addition to high-grade vein hosted mineralized zones such as 0.50 m at 107.50 g/t Au from 270.00 metres intersected in PE-25-019.
Immediately south of GPS-09-01 and GPS-09-02, PE-25-020 intersected 0.50 m at 73.20 g/t Au from 38.10 m and 2.20 m at 1.97 g/t Au from 56.5 m.
To the northwest along the mineralized corridor, PE-25-013 intersected 1.30 m at Perestroika from 29.70 m, located approximately 750 m northwest of GPS-09-01 and GPS-09-02.
Selected assays include drill hole PE-25-10 that returned 0.50 metres at 14.45 g/t Au from 65.50- 66.00 metres.
PE-25-012: 1.00 m at 5.51 g/t Au from 44.30 m – 45.30 m. PE-25-012: 6.20 m at 1.71 g/t Au from 87.80 m – 94.00 m. PE-25-012: 0.5 m at 6.44 g/t Au from 123.70 m – 124.20 m. PE-25-012: 0.5 m at 6.70 g/t Au from 126.00 m – 126.50 m.
PE-25-012: 16.30 m at 4.01 g/t Au from 127.50 m – 143.80 m, including 0.50 m at 66.30 g/t Au from 128.50 m – 129.00 m, including 0.50 m at 15.90 g/t Au from 137.20 m – 137.70 m, including 0.60 m at 10.60 g/t Au from 141.20 m – 141.80 m.
PE-25-012: 1.00 m at 15.75 g/t Au from 250.50 m – 251.50 m, including 0.50 m at 27.00 g/t Au from 251.00 m – 251.50 metres.
PE-25-013: 1.30 m at 46.39 g/t Au from 29.70 m – 31.00 metres, including 0.80 m at 39.20 g/t Au from 29.70 m – 30.50 m, including 0.50 m at 57.90 g/t Au from 30.50 m – 31.00 m. Refer to original press release for complete assays.
The mineralization intersected is characterized as mostly being hosted in flat extensional quartz-ankerite veins and veinlets. Gold mineralization is closely associated with fine disseminated pyrite with sericite (white mica) alteration.
The mineralized corridor is located between two third order shear zones and is closely associated with a swarm of felsic tonalitic to intermediate dioritic dykes.
The company, Eldorado Gold and Golden Valley Mines & Royalties Inc., as it then was, entered into an Assignment Agreement dated January 25, 2023, under which Golden Valley assigned to the company all its rights and obligations under an option agreement dated October 8, 2021 between Golden Valley and Eldorado. As the assignee under the option agreement, the Company has granted to Eldorado an option to acquire an additional 40% interest in the properties subject to the option agreement, one of which is the Perestroika Property in Québec. The company currently holds a 70% interest in the properties, and Eldorado currently holds a 30% interest.
In order to maintain and to exercise the Option, Eldorado must spend $10,500,000 by the fifth anniversary of the date of the conditions precedent under the option agreement being satisfied, as well as comply with its obligations under the terms of the option agreement to keep the properties. Prior to exercising the option, Eldorado will make an annual payment to the company of $50,000 per year. Upon the exercise of the option by Eldorado, it and the company will enter into a joint venture agreement on the terms set out in the Option Agreement.
Val-d’Or Mining is involved in acquiring and exploring its diverse mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Québec. The Company also holds several other properties in Northern Québec (Nunavik) covering different geological environments and commodities (Ni-Cu-PGE’s).
