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BISON GOLD RESOURCES INC. BGEZF


Primary Symbol: V.BGE

"Bison Gold Resources Inc is a development stage company. The Company is engaged in acquisition, exploration and development of properties for mining of precious and base metals."


TSXV:BGE - Post by User

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Post by flintabatteyon Apr 03, 2012 4:56pm
268 Views
Post# 19754927

Time for a reserve report.....

Time for a reserve report.....

.... then get George on the phone and option the play for production!  IMHO, don't expect much movement in the share price though, it's still too early to convert value from what's been found in the ground to the vault.

Bison Gold Resources Inc. Exploration Update: Drilling Expands the New 420 Zone; Drill Hole OG-12-12 Cuts 49.5 Metres of 1.34 g/t Gold

 

Tuesday, April 03, 2012

TORONTO, ONTARIO--(Marketwire - April 3, 2012) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to provide an update on results from the current drilling program on the Ogama Structural Corridor from the Company's Central Manitoba Property.

Bison released results from the first five holes of this drilling program on March 12, 2012. This release details results from the next seven drill holes on the program. Drill hole OG-12-12 targeted the newly discovered 420 Zone as well as Ogama veins 1 & 2 50 metres west along strike from the discovery hole OG-12-05 (see press release dated March 12, 2012, {C}https://www.marketwire.com/press-release/bison-gold-resources-inc-exploration-update-drilling-continues-confirm-robustness-ogama-tsx-venture-bge-1630747.htm{C}). All targets were intersected with a major intersection of 1.34 g/t gold over 49.5 metres in the 420 zone at a vertical depth averaging 230 metres. "This intersection is significant in the fact that the alteration zone hosting the mineralized is apparently significantly thicker and stronger in intensity than noted in the discovery hole, OG-12-05," remarked David Benson, VP Exploration and Qualified Person for Bison Gold.

Drill hole OG-12-06 also targeted the 420 Zone 150 metres below the intersection from OG-12-05. The drill hole cut 12 metres with a grade of 0.65 g/t gold at a vertical depth of 400 metres thereby verifying the depth extension of the new zone.

The remaining drill holes reported here each targeted multiple zones within the Ogama Structural Corridor and were primarily step-out holes and infill drilling with the exception of OG-12-09, which was targeting a mineralized structure discovered during surface exploration west of the Rockland mine workings. This hole and OG-12-10 had to be abandoned before the target zones were achieved due to excessive deviation of the drill hole. The other remaining holes intersected the targeted horizons with anticipated results as well as cutting additional anomalous zones not previously identified or reported adjacent to the targets. These are termed New HW (hangingwall) and New FW (footwall). Please refer to the table below for drill intersections from drill holes OG-12-06 through OG-12-12.

HOLE From (m) To (m) Width (m) Au g/t Zone
OG-12-12 97.85 102.50 4.65 1.61 VEIN #1
OG-12-12 132.90 134.00 1.10 2.24 VEIN #4
OG-12-12 320.50 370.00 49.50 1.34 420 ZONE
including 321.10 324.50 3.40 12.20 420 ZONE
including 359.50 360.00 0.50 18.45 420 ZONE
OG-12-11 19.30 26.00 6.70 2.06 VEIN #4
including 23.20 26.00 2.80 3.94 VEIN #4
OG-12-11 57.65 58.38 0.73 7.47 NEW FW
OG-12-11 189.18 190.38 1.20 2.54 NEW FW
OG-12-10 189.00 190.50 1.50 1.23 NEW FW
OG-12-10 202.00 203.00 1.00 1.74 NEW FW
OG-12-10 262.75 263.46 0.71 4.97 NEW FW
OG-12-09         N.S.V.
OG-12-08 136.96 138.00 1.04 2.06 VEIN #1
OG-12-08 158.00 166.50 8.50 0.34 NEW HW
OG-12-08 184.40 190.40 6.00 1.49 VEIN #4
OG-12-07 29.97 30.57 0.60 6.03 VEIN #4
OG-12-07 223.55 227.85 4.30 0.31 NEW FW
OG-12-06 52.23 54.82 2.59 1.21 HW#2
OG-12-06 196.00 201.00 5.00 1.11 VEIN #1
OG-12-06 495.50 507.50 12.00 0.65 42O ZONE
Width (m) is the length in drill core and does not represent true width of the mineralization. True width is estimated in all cases to be greater than 80% of drill core width.
N.S.V. = No significant values

"We are very pleased with the progress of the drilling program to date," stated Lucas Ewart, President and CEO of Bison Gold. "Our exploration team has had an incredibly high success rate with the drilling and ability to prove out the continuity of the mineralized zones."

Bison Gold has conducted over 26,000 meters on the Central Manitoba Property since 2006 making it the second most active mineral exploration company in the region, next only to gold producer, SanGold Corporation. Another 10,000 meters is budgeted and ongoing with two diamond drilling rigs currently on site.

Bison Gold's developing assets are proving similar mineralization, geological and structural histories as the current gold producers in the Rice Lake Greenstone Belt but also the Marmion granitoid suite and structural zone, host rocks to the Hammond Reef deposit. "With these significant and consistent grades we are discovering, we anticipate publishing our first resource by the third quarter of 2012," stated Amir Mousavi, Vice President Corporate Development and CFO of Bison Gold.

Recently, Bison Gold announced the acquisition of an additional 14,615 hectares of highly prospective mineral claims within the Rice Lake Greenstone Belt making it the largest solely held mineral claim holder in the Belt.

 

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