MONTRÉAL, June 14, 2021– Bullion Gold Resources Corp. (TSX-V: BGD) (“Bullion Gold” or the “Corporation”) is pleased to announce that, further to its previously disclosed option with Vantex Resources Ltd., it acquired the balance of the Bousquet property pursuant to a purchase agreement with Breakwater Resources Ltd. in consideration of a cash payment of $60,000. The Corporation now owns the right to a 100% interest in 97 claims representing 2,675 ha located at the heart of the globally recognized Abitibi mining camp (more than 30 mines) with an historical production of more than 100M oz. of gold along the Cadillac-Larder Lake Fault.
There are several gold mines found along or adjacent to the Cadillac-Larder Lake Break that cuts across the Bousquet Lake Property for a length of 7.5 km. Between 1926 and 2020, more than twenty (20) mines have produced over 25 million ounces of gold along the Cadillac Break within the Bousquet-Cadillac district. The Cadillac mining camp is characterized by three types of mineralization related to distinct gold-bearing geological settings: gold-bearing massive sulfide lenses (Bousquet 2 and La Ronde mines), gold-rich polymetallic veins (Doyon, Mouska and Westwood mines) and auriferous veins associated with regional E-W trending faults (Lapa and O’Brien mines).
A strong gold mineralized system was discovered in the southern portion of the Bousquet Lake Property. Four gold showings, Decoeur, Paquin East and Paquin West, Calder-Bousquet and Joannes, were discovered in the early exploration work (1932-1945) on the property. They are located within a 4.5 km hydrothermal gold system within a shear zone parallel to the Cadillac-Larder Lake Break at about 1 km south of same. These showings have probably been formed in the same mineralizing episode within regional E-W trending faults.
On the Paquin showings, grades of 7.13 g/t Au over 12.10 m, 4.51 g/t Au over 9.40 and 2.44 g/t Au over 13.00 m were intersected in historical drill holes (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 western block, 26.46 g/t Au and 19.55 g/t Au over widths of 1.5 m were discovered on the Joannes gold discovery GM 00735-B). An intercept of 8.09 g/t Au over 2.0 m was also intersected on the Calder-Bousquet gold occurrence (GM 0934-D). No recent drilling was carried out on the property.
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 to occur in the neighboring mining operations. For example, grades of 38.1 g/t Au over 4.0 m were found at a vertical depth of 1600 m at the Westwood Mine (Iamgold), 14.8 g/t Au over 4.9 m at the -1335 level at the Lapa Mine (Agnico Eagle). Recent drilling at the former O’Brien mine by Radisson intersected 24.22 g/t Au over 3.0 m at 900 m deep. Longitudinal sections from the historical drilling show that all the showings of this strong gold system are open at depth and future drilling will verify their continuity at depth.
Jonathan Hamel, President and CEO of Bullion Gold stated “We are incredibly pleased with the acquisition of the Bousquet property located along the Cadillac-Larder-Lake Fault, historically one of the most prolific gold faults in the world. We are now concentrating our efforts on the summer exploration campaign which will aim to test the grades at depth on a 4km corridor formed of 5 historic gold showings ranging from 2.49 g/t over 5.91M (Paquin Showing) to 26.46 g/t over 1.50M (Joannes Showing). The property’s enviable geographic location, in the heart of the Abitibi mining camp, makes it an interesting project for Bullion Gold.”
2021 Summer Exploration Campaign
The company is preparing an exploration campaign for Summer 2021 that will consists of a high-resolution helicopter-borne magnetic survey, geological mapping and sampling, a drilling program at depth below historical showings and a drilling program on felsic intrusions along the Cadillac Fault (7.5 km) will be conducted.
This press release was compiled and approved by Gilles Laverdière, P.Geo., director and Qualified Person under National Instrument 43-101.
About Bullion Gold
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.
Other Information
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