The property package includes four claim blocks (Lorenz, Trident, Cigare and Peribonka) totaling 52,549 hectares in 1052 CDC cells. Work by Virginia in 2008 and 2009 has identified several drill-ready uranium prospects including Lac du Castor, Lac Tion, Lorenz Gully, Lac Tete and others.
Moreover, the Peribonka property completely surrounds the small Lavoie property which hosts Seru L zone uranium-gold deposit. Abitex Resources is earning a 50% interest in Lavoie from Areva Resources Canada and Soquem. On January 14, 2010, Abitex released 2009 drill results for Lavoie, and has confirmed that a resource estimate is being prepared.
To complete the acquisition of a 100% interest in the Xemplar Otish property, Virginia will deliver 1.2 million common shares to Xemplar, which will be subject to a four-month hold period. The claims are subject to a 3% NSR royalty, of which half can be purchased by Virginia.
