Montreal, Quebec--(Newsfile Corp. - June 18, 2024) - Bullion Gold Resources Corp. (TSXV: BGD) ("Bullion Gold" or "The Company") announces that it has completed the first phase of its 2024 exploration program on the Bodo project and discovers a massive sulfide horizon south of the Canico showing. Consisting of 722 mining cells with an area of approximately 39,000 hectares, the Bodo project is located approximately 140 km north of Chibougamau, in James Bay, Quebec.
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.
"We are very excited to have discovered a new showing associated with an important magnetic horizon. Massives sulfides in this structure with anomalous presence of cobalt and copper suggest a potential of a Cu-Ni-Co magmatic deposit or an VMS. Our future exploration work must be concentrated throughout this corridor," comments the Company's CEO, Mr. Jonathan Hamel.
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.
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.
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.
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