Virginia Energy Resources is all set to start a minimum 2,000m drill program on its 100% owned Otish Basin uranium property in Quebec, Canada in mid-July.
Virginia Energy will conduct drilling on the Lac du Castor, Lavoie East and Red Green prospects, and will target sandstone-hosted uranium-gold mineralisation similar to the nearby Lavoie deposit and the Matoush deposit.
The firm will received funding of $2m from the flow-through financing completed in December, 2010.
Quebec Government’s construction of the $278m ‘Route 167 Extension’ all-weather highway to the Otish Mountains, will pass within five kilometres of Virginia’s land package, and will improve access, facilitate exploration and development, and increase the value of the firm’s properties.