Bullion Gold Bodo Project: Samples Reveal Significant Gold, Silver and Copper Grades

Rhea-AI Summary

Bullion Gold Resources Corp. (TSXV: BGD) has announced promising sampling results from its Bodo project, revealing significant gold, silver, and copper grades. The initial results from the Rivon Lake and Canico showings indicate strong polymetallic potential, with anomalous contents of Cu, Zn, Ni, Co, Au, and Ag in most areas visited. Highlights include:

• A sample from Rivon zone with 13.8 g/t Au, 291 g/t Ag, and 1.7% Cu
• A sample from Canico zone with 2.86 g/t Au and 616 g/t Ag

The company plans to conduct an airborne magnetic geophysical survey coupled with EM reading in the fall of 2024, followed by a drilling program in 2025 to test lateral and depth extensions of known zones.

Positive

• High-grade samples with significant gold, silver, and copper content
• Strong polymetallic potential confirmed in Rivon and Canico zones
• Planned airborne geophysical survey to identify favorable zones
• Potential for a major polymetallic project

Negative

• Loss of samples from a new massive sulfide zone due to shipping company error
• Short work period of only twelve days for initial sampling

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.

Rivon Zone in the North-Eastern part of the project - Horseshoe-shaped magnetic anomaly

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10471/221192_bodo_results_0624.jpg

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. For more information, visit www.bulliongold.ca.

For further information, please contact:

Jonathan Hamel
President and CEO
jhamel@bulliongold.ca

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 several 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, 2023 and the first quarter ended March 31, 2024, which are available on the Corporation's profile at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and Bullion 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221192

FAQ

What were the highest gold and silver grades reported in the Bodo project samples?

The highest reported grades were 13.8 g/t gold and 291 g/t silver from a channel sample in the Rivon zone of the Bodo project (TSXV: BGD).

What is Bullion Gold's plan for the Bodo project in 2024?

Bullion Gold (TSXV: BGD) plans to conduct an airborne magnetic geophysical survey coupled with EM reading, covering approximately 4,100 km in the eastern part of the Bodo project in the fall of 2024.

Which metals were found in anomalous contents during the Bodo project sampling?

The sampling at the Bodo project by Bullion Gold (TSXV: BGD) revealed anomalous contents of copper, zinc, nickel, cobalt, gold, and silver in most areas visited.

What is the extent of the mineralized corridor in the Rivon Zone of the Bodo project?

The Rivon Zone of the Bodo project (TSXV: BGD) is associated with a north-south trending mineralized corridor nearly 4 kilometres long and approximately 800 metres wide.