Montreal, Quebec–(Newsfile Corp. – August 27, 2024) – Bullion Gold Resources Corp. (TSXV: BGD) (“Bullion Gold” or the “Company”) announces new sampling results from its Bodo project. Despite the short work period completed in early summer on this project, the initial results from surface sampling offer a very interesting perspective on the polymetallic potential of this project. The Rivon Lake and Canico showings were the main zones visited during this period of approximately twelve days of work.
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:
| No | Location (Easting-Northing) | Au (g/t) | Ag (g/t) | Cu (%) | Zn (%) | Co (ppm) | Pb (ppm) | Zone |
| 971501 | 652712-5732281 | 3,8 | 129 | 11,7 | 0,15 | 356 | Rivon (Channel 1m) | |
| 971502 | 652165-5732521 | 0,78 | 51,5 | 2,23 | Rivon (grab) | |||
| 971503 | 652165-5732595 | 0,57 | 26,1 | 3,56 | Rivon (grab) | |||
| 971508 | 652562-5732589 | 3,93 | 84,9 | 2,22 | Rivon (grab) | |||
| 971509 | 651907-5732414 | 1,34 | 384 | 0,85 | 0,39 | 2920 | Rivon (grab) | |
| 971514 | 651936-5732333 | 0,53 | 137 | 0,13 | 1,05 | 170 | 2610 | Rivon (grab) |
| 971530 | 642571-5729389 | 2,86 | 61 | 6,77 | Canico (boulder) | |||
| 971531 | 642571-5729393 | 0,18 | 10,6 | 1,22 | Canico (boulder) |
“We are pleased with these initial results. The Rivon Lake and Canico showings offer great prospects for the future and allow us to believe that we are in the presence of a major polymetallic project. It is unfortunate that samples from the massive sulphide zone were lost during the expedition. Nevertheless, all the results fully justify continuing our work on this project,” emphasized Jonathan Hamel, President and CEO of the Company.
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.
Shallow historical drilling on the Rivon Lake zone intersects three distinct zones containing distinct minerals suggesting different phases of mineralization. Some zones contain gold, silver and copper while others contain zinc-cobalt or zinc-lead.
In the Canico sector, the various samples taken on the surface and in the angular erratic blocks also demonstrate the presence of gold, silver and copper. These samples were collected a little to the west of some induced polarization (IP) anomalies. Several anomalous values of up to 1,570 ppm in Ni and 170 ppm in Co were also traced in this sector. A shallow historical 102-metre drill hole in this sector in 1981 had also intersected an anomalous zone of 30 to 95 metres containing anomalous values in Cu, Au, Ag, Zn, Ni and Co.
Given the recent rise in the price of gold, silver and copper, the Bodo project could therefore become even more attractive for companies and investors looking for good polymetallic projects.
Initially, the company will focus its activities on the Rivon Lake showing sector. The company’s management plans to conduct an airborne magnetic geophysical survey coupled with an EM reading to properly identify favorable zones throughout the eastern part of the Bodo project. This survey of approximately 4,100 km could be carried out in the fall of 2024. Also, to reduce its helicopter transportation costs, the company is considering setting up a temporary camp to be able to carry out its work planned for 2025.
Following the outcome of the geophysical data, the company will prepare a drilling program to test the lateral and depth extensions of the known Rivon zones as well as to test the zones possibly located between them. The magnetic fold zone located further north will also be tested by drilling.
The Company is also considering a stripping program in 2025 as well as another larger exploration program covering a larger part of the property. The extreme western part located in the same geological corridor as Power Nickel will also be the subject of particular attention during this same period as well as the southern part of the project where a drill hole made by Soquem intersected an interesting anomalous section containing various minerals and metals over nearly 90 meters. This drilling is located slightly south of the EM and magnetic anomalies defined by the MERN and Soquem in 1981.
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 of Quebec. The Company is developing the 100% owned Bousquet and Bodo SM projects.
Other Information
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