Wednesday, February 13, 2008
Virginia Mines To Spend About C$30M On Exploration Work In 2008
Virginia Mines To Spend About C$30M On Exploration Work In 2008
djones
DOW JONES NEWSWIRES
Virginia Mines Inc. (VGQ.T) plans to spend C$30 million in 2008 to launch its
"most active drill and exploration programs ever" on its James Bay projects.
The Quebec City mining exploration company said C$20 million will be spent on
the Coulon joint venture project with Breakwater Resources Ltd. (BWR.T),
including 70,000 meters of diamond drilling and a geophysical survey.
The company said the C$10 million balance will be spent on many other
projects.
It also said that, in partnership with the Societe d'exploration miniere Vior
inc., it has entered an agreement to sell a 100% interest in 297 jointly owned
claims to Northfield Metals Inc. in exchange for 500,000 Northfield common
shares, of which Virginia will get 250,000 shares.
(END) Dow Jones Newswires
02-13-08 0955ET
Copyright (c) 2008 Dow Jones & Company, Inc.
Copyright 2001 The Globe and Mail
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