MONTREAL, Jan. 31, 2022 — Bullion Gold Resources Corp. (TSX-V: BGD) (“Bullion Gold” or the “Corporation”) announces that it has completed a first drilling program of nine holes totaling 2,381 meters on the Bousquet project, located over more than 7 km along the Cadillac-Larder Lake fault, in the Rouyn-Noranda region, in Quebec.
These holes drilled to verify the historical data of the Paquin-Est, Paquin Ouest and Decoeur zones confirm the presence of gold, most of which have intersected several significant gold values in zones of deformation and silicification strongly mineralized.
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.
“We are very pleased with the results obtained during this first 2021 drilling campaign. These confirm the gold potential of the Decoeur and Paquin zones. Recognized by drilling over more than 3.5 km, the Joannes, Decoeur, Paquin and CB 1 gold zones will eventually be the subject of a larger drilling campaign during 2022. Definition and in-depth drilling will make it possible to establish a first 43-101 resource on this project as soon as possible,” said Jonathan Hamel, President and CEO of the Corporation
2022 Exploration Program
The Corporation is planning a definition drilling program in 2022 and intends to test the depth extensions of the known showings as well as verify certain potential targets located north of the Cadillac-Larder Lake fault. The northern sector of the Bousquet project has hardly ever been the subject of drilling work also, the Corporation believes that the anomalies of low and high magnetic intensities defined in that sector by an airborne magnetic survey carried out during 2021 should be tested during the year.
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.
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.
This press release has been read and approved by Jeannot Théberge, qualified person according to NI 43-101.
| Hole # * | From (m) | To (m) | Length (m) ** | Au (g/t) | Zone |
| BO-21-01 | 172,3 | 173,40 | 1,10 | 1,29 | Decoeur |
| 177 | 187,50 | 10,5 | 0,89 | ||
| incl | 177 | 178,00 | 1,0 | 1,40 | |
| incl | 181,50 | 183,00 | 1,50 | 1,18 | |
| 184,50 | 186,00 | 1,50 | 1,01 | ||
| And | 201,00 | 202,50 | 1,50 | 1,17 | |
| BO-21-02 | 117,00 | 133,30 | 16,30 | 1,09 | Decoeur |
| Incl | 118,50 | 120,00 | 1,50 | 1,52 | |
| Incl | 121,50 | 123,00 | 1,50 | 1.75 | |
| Incl | 124,50 | 126,00 | 1,50 | 1,00 | |
| Incl | 129,00 | 130,50 | 1,50 | 1,02 | |
| Incl | 130,50 | 132,00 | 1,50 | 2,24 | |
| BO-21-03 | 124,50 | 127,50 | 3,00 | 2,02 | Decoeur |
| BO-21-07 | 212,00 | 213,00 | 1,00 | 3,74 | Paquin Est |
| And | 228,25 | 229,25 | 1,00 | 1,10 | |
| BO-21-08 | 169.00 | 170,00 | 1,00 | 1,40 | Paquin Est |
| 178,50 | 187,50 | 9,00 | 16,97 | ||
| Incl | 181,50 | 186,00 | 4,50 | 33,21 | |
| Incl | 184,00 | 185,00 | 1,00 | 129,25 | |
| And | 206,00 | 207,00 | 1,00 | 1,19 | |
| BO-21-09 | 190,00 | 194,50 | 4,50 | 3,21 | Paquin Est |
| Incl | 190,00 | 191,00 | 1,00 | 4,13 | |
| Incl | 191,00 | 192,00 | 1,00 | 4,09 | |
| And | 220,50 | 222,00 | 1,50 | 1,01 | |
| And | 223,20 | 223,50 | 0,30 | 2,05 | |
| And | 225,60 | 226,75 | 1,15 | 1,20 |
*Note that drill holes BO-21-04, BO-21-05 and BO-21-06 are not significant.
** Thickness along the hole.
For further information, please contact:
Jonathan Hamel
President and CEO
jhamel@bulliongold.ca
514-317-7956
Other Information
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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.