Bodo SM Project

• 100% owned without royalty and constraints (protected area – park – animal protection zone, etc.) 
• The Bodo project includes 761 cells with an area of nearly 41,000 hectares (410 km2)
• Hosts gold, copper, zinc, nickel, cobalt, molybdenum, silver, PGE, and lithium.
• Presence of several magnetic anomalies and electromagnetic conductors
• Presence of major faults and folds
• Interactive map on Junior Mining Hub

Historical Exploration Work (1960-1981) identified 3 significant showings:

Rivon Showing (Copper-Gold-Silver)
Drilling in the 1960s found a mineralized corridor over 1.4 km
with copper values ranging from 0.50% to 9.9%, gold values
from 1.24 g/t to 5.93 g/t, and silver values from 20 g/t to 238 g/t.

Canico Showing (Copper-Gold-Silver)
Prospecting in the 1960s revealed significant copper, gold, and silver values from both host rock and erratic blocks. Notable results include copper values up to 9.25%, gold up to 2.20 g/t and silver up to 44 g/t.

Papas Showing (Copper-Gold-Zinc)
Drilling by Soquem in 1981 traced a rhyolitic lava zone with anomalous gold, silver, copper and zinc values over 90 meters, indicating potential for a volcanogenic massive sulfide (VMS) deposit.

Latest News

• Bullion Gold discovers massive sulphides on Bodo Property – Resource World Magazine (06/18/24)
• Bullion Gold Starts Work on Bodo – Resource World Magazine (05/21/24)

Property Description

Located approximately 240 km north of Chibougamau, the Bodo SM project contains the main gold and copper showings Rivon, Canico and Papas.

Historic drilling (GM14058) carried out on the Rivon showing intersected several gold and copper values over thicknesses of up to more than 12 meters. The presence of zinc is also noted in these drillings. The Rivon zone is recognized by a few short surveys over more than 1.5 km and remains open in all directions. This showing is located in the northeastern part of the Bodo project.

Located in the north center of the Bodo SM project, the Canico showing (GM16800) was found by prospecting in the 1960s. The discovery of angular erratic blocks containing gold and copper values encouraged an exploration project in this area. Grab samples taken from the host rock also traced gold and copper values ranging from 1.43 g/t Au to 2.99 g/t Au and 1% to 1.05% copper. Some erratic blocks gave values ranging from 2.18 g/t Au to 4.35 g/t Au and from 4.75% Cu to 9.25% Cu. Further work will be necessary to determine the origin of the erratic blocks and verify historical data.

On the other hand, drilling 625-81-10 (GM38204) carried out in 1981 by Soquem in the southern part of the property made it possible to trace the Papas showing. This drilling intersected more than 90 meters of rhyolitic lavas containing anomalous values of copper and zinc as well as a horizon of graphitic tuffs. This geological environment is favorable for the establishment of volcanogenic massive sulfide deposits. The presence of Ni and Ag is also noted in the description of the core. This showing is associated with a major high intensity magnetic anomaly with a length of more than 13 km. A Maxmin type electromagnetic conductor accompanies this magnetic anomaly.

According to data from MERN (Sigéom) a sample of lake sediments taken a few hundred meters north of this same magnetic anomaly also revealed values of cobalt (225 ppm) and manganese (more than 1%) as well as silver (1.07 g/t Ag). Other rock samples taken by the MERN in 2023 in the far western part of the property also obtained anomalous values for Cu, Zn, Pt, Pd, Cr, Cs, Li, PGE and Ni. No other work except the collection of a few surface samples by the MERN has been done in this sector.

Rivon Showing

The Rivon Showing is located in the northeastern part of a broad corridor approximately 3.2 km thick comprising a package of massive and laminated volcanic rocks. The amphibolites represent metamorphic equivalents of basic volcanics. This greenstone assemblage is surrounded by a complex of gneiss and granite.

East of Holton Lake, a greenstone belt is up to four miles wide and extends westward for a total distance of approximately 80 km.

A few kilometres north of this belt, three narrow discontinuous bands of greenstone are interpreted as the remnants of a single, broader belt. At Holton Lake and a few kilometres south of it are rocks of the Mistassini Group.

The presence of copper, zinc, gold, silver and molybdenum is regularly noted in the various exploration works carried out in previous years in these different geological environments.

Mineralization

Seven mineralized outcrops were discovered by Merrill Island Mining in 1963 on the Rivon showing. Three of these were visited by Gilles Duquette, Chibougamau Resident Geologist in 1964 (GM14279). The following description is derived from his report.

“The No. 3 copper showing was stripped and dug in 8 places and copper mineralization was exposed in an amphibolite over a length of over 210 metres. Although these trenches do not line up perfectly, they are confined to a 35-metre-wide band. The mineralization consists largely of quartz and chalcopyrite and pyrite with local concentrations of magnetite. Mineralization on the No. 4 showing consists mainly of lenses of quartz with chalcopyrite, gold, silver and molybdenum. The blasting and stripping done at the time exposed an area approximately 40 metres long and 8 metres wide (Graph 4),” underlines the resident geologist at the time.

Figure 4: Copper index number 4 (adapted from Gilles Duquette, resident geologist of Chibougamau in 1964 (GM14279).

Two series of short holes (Series A and Series B) undertaken by Merrill Island Mining in 1963 on the Rivon showing demonstrated the significant presence of copper, gold and silver in the majority of the holes. The holes of Series A drilled in a low intensity magnetic anomaly and located approximately 500 meters to the west of Series B cannot in any case have reached the polymetallic horizon of Group B, which is associated with a high intensity magnetic anomaly. The anomalous presence of copper, gold and silver is noted in both zones over thicknesses varying from 5 to 12 meters. This suggests that there could be several parallel mineralized zones in this sector of the Rivon showing. The two series of holes were drilled from north to south over a distance of approximately 450 meters for Horizon A and 1.3 km for Horizon B. Both horizons remain open in all directions.

Geophysical Compilation

Summer 2024 Exploration Campaign (Eastern Part)

The Company has completed the first phase of its 2024 exploration program on the Bodo SM in early June 2024 and discovered a massive sulfide horizon south of the Canico showing.

The primary objective of this phase of work was to verify the historical data reported in the various reports from the MRNF of Quebec. The team led by experienced geologist Wayne Holmstead found almost all of the drilling done in 1963 by Merrill Island Mining Corp as well as locating all other mineralized showings mentioned in the various reports. More than 50 samples were taken from the environment of the different showings visited on the project. Assays results should be available in the coming weeks.

In addition, this first phase program made it possible to trace the southern extension of the Rivon showing as well as to discover a massive sulfide showing associated with a high intensity magnetic anomaly approximately 1.5 km wide by approximately 15 km long. This new massive sulfide horizon was detected by a Beep Mat (magnetic and conductivity measuring instrument) and has been traced at this time over several hundred meters.

The presence of cobalt was also detected in 2013 at Lake Denos by the MRNF in a lake bottom sample which revealed a content of 225 ppm Co and more than 1% Mn while another lake bottom sample taken in 1976 about 18 km northwest of the new massive sulfide showing gave a content of 3,718 ppm in Cu and 1,351 ppm in Co. These highly anomalous lake bottom samples as well as the new massive sulfide discovery are all located in the same magnetic corridor. The management of the Company will concentrate part of its future exploration work in this sector in order to make the link between all these mineral showings associated with high intensity magnetic and electromagnetic anomalies.

Highlights:

• Significant presence of base metals, gold, and silver on Rivon and Canico
• Anomalous contents of Cu, Zn, Ni, Co, Au and Ag in most places visited

This first phase confirmed the strong polymetallic potential of these two indices as well as the discovery of a new zone of massive sulfide located in contact with a strong magnetic anomaly associated with electromagnetic conductors. Unfortunately, a bag containing samples from the massive sulfide zone was lost by the shipping company. The Company will therefore have to retake samples from this sector during a future visit.

This prospecting campaign also revealed the presence of several minerals associated with the potential of a VMS such as copper, zinc, cobalt and nickel. The significant and regular presence of gold and silver in this environment also adds to the economic potential of this project.

The best results are the following:

The Rivon Zone associated with a north-south trending mineralized corridor nearly 4 kilometres long and approximately 800 metres wide would include, according to historical drilling, several mineralized shear zones parallel to each other. The Company’s management suspects the presence of several other parallel shear zones in this same corridor. Historical drilling indicates this possibility and field work also seems to confirm this hypothesis. For the moment, the drilling sections indicate the presence of at least three mineralized shear zones containing different base metals such as copper, zinc, cobalt and lead as well as gold and silver.

This same corridor runs along a major north-south magnetic anomaly. Further north, this magnetic anomaly folds severely to form a horseshoe. The MERN indicates the presence of ultramafic units associated with this major fold. The fold zones are sometimes excellent traps associated with the circulation of hydrothermal fluids allowing the deposition of different types of minerals and metals.

2024 Exploration Campaign Pictures (Eastern Part of the Project)

Rocks samples taken by the MRNF in 1971 north of the Rivon showing also suggest the possible presence of an ultramafic horizon associated with a folded high intensity magnetic anomaly. Except for samples taken by the MRNF, no exploration work has been carried out there since. Prospecting and sampling work will be carried out in this sector during the next exploration program.

Further south where Rivon showing is located, several drillings (GM 14058) intersected this high magnetic anomaly revealing several significant results in copper, gold and silver in different copper horizons. According to the various data, Rivon showing could be made up of several parallel mineralized structures in a north-south direction. A drilling program will be necessary to properly evaluate this showing. It remains open in all directions.

Exploration Campaign by the MERN (Western Part of the Project)

During the summer of 2024, the Ministry of Natural Resources and Forestry (MRNF) completed a geological and sampling survey (BG 2024-05) in the western and southwestern part of the property. This allowed the discovery of some interesting indices including the Didi zinc, copper and gold showing and the Licé lithium showing as well as obtaining many other anomalous results in Cu, Au, Zn, Li, Co, and Ni.

According to the data collected by the MRNF during 2024 in the western part of Bodo, this study would present favorable areas for eight types of mineralization:

• Base metal massive sulfide mineralization associated with volcanic rocks of the Lac des Montagnes, Tichégami and Michaux groups;
• Base metal mineralization associated with volcanogenic massive sulfides of the Voirdye Formation;
• Synvolcanic gold-bearing quartz-sulfide veins associated with volcanic rocks of the Michaux Group;
• Exhalative sulfide mineralization hosted in sedimentary rocks of the Voirdye Formation;
• Gold mineralization associated with quartz pebble conglomerates and pyritic quartzites of the Voirdye Formation;
• Stratiform gold mineralization in Algoma-type banded iron formations of the Lac des Montagnes and Tichégami groups;
• Magmatic nickel-copper mineralization (± cobalt ± platinum group elements) associated with intrusive rocks of the Nasacauso and Chamic mafic-ultramafic suites;
• Lithium mineralization associated with granitic pegmatites of the Senay Suite.

These new favorable zones come from little-known mineralizations discovered during the 2024 work. The Lac des Montagnes group is a very interesting geological formation and could become a major formation in terms of economic potential. It already contains several gold, chrome, copper, zinc showings as well as lithium (Whabouchi) and nickel (Nisk-1 and Lion) deposits. This formation has been little prospected in past years, which increases its discovery potential. Bullion Gold, with its Bodo SM project, controls this geological band over more than 40 kilometers.

The full report of the MERN exploration campaign is available here.

For more information on the Bodo SM Project please contact us.