NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
MONTRÉAL, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Bullion Gold Resources Corp. (TSX-V: BGD) (“Bullion Gold” or the “Corporation”) announces the start of a drilling campaign of at least 1,000 meters on the Bousquet project. The drilling program will focus on the Paquin East showing. The targets determined using 3D modeling and geophysical inversion performed by GoldSpot Discoveries will aim to test the potential lateral and depth extensions of the Paquin East zone.
“We are very happy to relaunch drilling on Bousquet. The project is located in the heart of one of the best mining camps in the world and could reveal interesting potential given the first results published at the beginning of the year (16.96 g/t Au over 9 meters - see press release of January 31, 2022). said Mr. Jonathan Hamel, President and Chief Executive Officer of the Company.
Historical works
Five gold showings, Decoeur, Paquin Est and Paquin Ouest, CB 1 and Joannes, were discovered during the first exploration work (1932 to 1945) on the property. They are located within a 2.5-kilometer hydrothermal gold system in a shear zone parallel to the Cadillac-Larder Lake Fault approximately one km south of it. These showings probably formed in the same episode of mineralization within regional east-west trending faults.
On the Paquin showings, grades of 7.13 grams per ton of gold over 12.10 meters, 4.51 g/t Au over 9.40 m and 2.44 g/t Au over 13 m were intersected in the historic drillings (GM 07013-A). On the Decoeur showing, 1.26 g/t Au over 18.60 m and 1.16 g/t Au over 16.80 m were intersected in historical drilling (GM 07013-A). On the newly acquired west block, 26.46 g/t Au and 19.55 g/t Au over widths of 1.5 m were discovered on the Joannes gold showing (GM 00735-B).
At the end of 2021, in the Paquin East zone, drill hole BO-21-08 intersected a 9-meter gold section grading 16.96 g/t Au including a 4.5-meter zone grading 33.21 g/t Au also including 1 meter at a grade of 129.25 g/t Au while BO-21-09 revealed a gold zone of 4.5 meters at a grade of 3.21 g/t Au including 2 meters at a grade of 4.11 g/t Au. In the Decoeur zone, holes BO-21-01 and BO-21-02 returned grades ranging from 1.03 g/t Au over 9.3 meters and 1.09 g/t Au over 17.84 meters respectively. meters while BO-21-03 revealed a grade of 2.02 g/t Au over 3 meters in an anomalous zone of more than 12 meters along the hole.
Located in the Paquin East zone, hole BO-21-08 intersected a 9-meter gold section grading 16.96 g/t Au including a 4.5-meter zone grading 33.21 g/t Au also including 1 meter at a grade of 129.25 g/t Au while BO-21-09 revealed a gold zone of 4.5 meters at a grade of 3.21 g/t Au including 2 meters at a grade of 4.11 g/t Au.
In the Decoeur zone, holes BO-21-01 and BO-21-02 returned grades ranging from 1.03 g/t Au over 9.3 meters and 1.09 g/t Au over 17.84 meters respectively while BO-21-03 revealed a grade of 2.02 g/t Au over 3 meters in an anomalous zone of more than 12 meters along the hole.
The deepest gold intersection on the property was on the Paquin showing at a vertical depth of 325 m where 23.52 g/t Au over 1.2 m was intersected (GM 61411). High-grade gold mineralization at depth is known from nearby mining operations. For example, grades of 38.1 g/t Au over four m were found at a vertical depth of 1,600 m at the Westwood mine (IAMGOLD), 14.8 g/t Au over 4.9 m at the 1,335 m level at the Lapa mine (Agnico Eagle). Recent drilling at the former O'Brien mine by Radisson intersected 24.22 g/t Au over three meters at 900 meters depth. Longitudinal sections of historical drilling show that all the showings of this powerful gold system are open at depth and future drilling will verify their continuity at depth.
Other drill targets will include anomalous gold-bearing felsic intrusions in the Cadillac-Larder Lake Fault which bear significant geological parameters with felsic intrusions in the Malartic mining district. The CB 1 gold showing will also verify the continuity at depth of a shallow intersection of 8.09 g/t Au over two meters.
Bousquet Project
Located 30 km east of Rouyn-Noranda, the Bousquet project is composed of 97 cells for an area of approximately 2,675 hectares. The property extends over nearly 7 km along the Cadillac Fault. An ENE gold corridor of more than 3.5 km long including the main gold showings confirmed by drilling is located south of this fault. The world-renowned Cadillac-Larder Lake fault is one of the most prolific gold-bearing faults in Canada. More than 100M ounces of gold have been produced historically in its immediate environment. Still today, several gold deposits in production are associated with it such as Lapa, Canadian Malartic, La Ronde, Goldex, Sigma and Lamaque.
The Bousquet property is underlain by metasedimentary rocks of the Cadillac, Timiskaming and Pontiac groups and volcanic and intrusive flows of the Piché group. The Cadillac mining camp is mainly characterized by three types of mineralization related to distinct auriferous geological contexts: auriferous massive sulphide lenses (Bousquet 2 and La Ronde mines), gold-rich polymetallic veins (Doyon and Mouska mines) and auriferous veins associated with EW oriented regional faults (Lapa deposit). The property is 100% owned by the Corporation.
This press release was read and approved by Gilles Laverdière, P.Geo., director, and Qualified Person under National Instrument 43-101.
About Bullion Gold Resources
Bullion Gold is involved in the identification, exploration, and development of viable mineral properties in the Province Quebec and British Columbia. For more information on the Corporation, visit www.bulliongold.ca
For further information, please contact:
Jonathan Hamel
President and CEO
jhamel@bulliongold.ca
514-317-7956
Other Information
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation’s management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2019 and the third quarter ended September 30, 2020, which are available on the Corporation’s profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
Two maps accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fb25efce-f839-4a08-bfdf-11ddc7c80ac3
https://www.globenewswire.com/NewsRoom/AttachmentNg/7574734d-4bef-4315-9959-e302677f0f67
