Golden Valley Mines (OTC Other: GLVMF; TSX-V: GZZ) has completed its 2011 exploration program on its 100% owned properties within the Abitibi Greenstone Belt in Quebec and Ontario. Exploration activities focused primarily on preliminary fieldwork, including “boot and hammer” prospecting and sampling, grid establishment, and follow-up ground geophysical surveys. The purpose of the 2011 program was to upgrade and advance each property to “drill-ready” status.
To date, a total of 17 grids have been established on separate properties for a total of 255.5 line kilometres; and 18 individual property geophysical surveys have been completed. Based on these geophysical results as well as results from 2010, 52 “higher priority targets” were interpreted and have been proposed for approximately 6,915 metres of drill testing.
In addition, a summer 2011 prospecting and sampling program was completed targeting geophysical anomalies and historical surface showings, over the Company’s 100%-owned properties acquired by the Company over the last several years. 24 prospects and/or areas of interest were prospected and sampled, resulting in the collection and assay of 102 rock samples, highlights of which include: 109.0 g/t gold & 22.8 ppm silver from the Baden Prospect; 5.81 g/t gold & 19.4 ppm silver from the Gosselin Prospect; 91.0 ppm silver, 2.10% zinc, 7,670 ppm lead from the Jonsmith Prospect, and 20.4 g/t gold from the Oregon Prospect and 1.9% molybdenum and 2.9 ppm silver from the Steeloy Prospect.