Bison Gold Resources Inc. Exploration Update: Central Manitoba Property
14 June 2013 - 3:59AM
Marketwired Canada
Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is
pleased to provide an update on 2012-2013 exploration and review key findings
and exploration work.
Since Q3 2009, Bison Gold has focused on the advancement of its past-producing
Central Manitoba gold property located in South East Manitoba, Canada ("CM
Property"). It is similar in style to the Rice Lake and Red Lake mining camps,
both of which are located in the prolific Uchi Subprovince of the Canadian
Shield.
Project History
The CM Property produced approximately 205,000 ounces of gold up to 1951 from
two main mining trends known as the Central Manitoba zone and the Ogama-Rockland
zone. The Central Manitoba zone produced gold from 5 mine shafts over a distance
of approximately 2km. The Ogama-Rockland zone produced gold from 3 shafts over
approximately 1km distance. As well, there exists numerous other mining shafts
and adits on different mineralized trends where gold production cannot be
verified. These include Walton, Gold Hill, Valley Vein and Eldorado. Exploration
on the CM Property following the closing of the last mining operation in 1951
had been sporadic and of limited extent up to the early 2000's due to a variety
of reasons but mainly gold and commodity prices and fractioned ownership of the
mining claims. Formally known as Mid-North Resources, Bison Gold consolidated
the Central Manitoba land package and in 2003 optioned the CM Property to Placer
Dome Canada. Placer Dome conducted the first systematic exploration of the CM
Property conducting airborne geophysical surveys, multi-media geochemical
surveys and extensive geological and structural mapping. Numerous drill targets
were generated from this work, almost all exclusively in the region of the
Ogama-Rockland mineralized trend. In 2004, Placer Dome conducted a limited
diamond drilling campaign testing several of these targets and were successful
in intersecting significant gold mineralization but decided not to pursue the
option to acquire the CM Property. Bison Gold continued very limited exploration
on the CM Property until 2009 when five holes tested the possible depth
extension of the Ogama-Rockland mineralized zone below the Ogama mine workings.
All holes intersected significant gold mineralization. In particular, hole
OG-09-07 intersected 34.99 g/t Au over 4.73 metres (core width, not true width).
This drill hole intersection was the stimulus to further explore and develop the
Ogama-Rockland trend in the subsequent years.
2010-present Exploration
In Q3 2010, Bison Gold decided to focus on the resource potential adjacent and
at depth to the old Ogama mine workings. Over the next two years, Bison Gold
drilled 74 holes, totaling 26,747 metres on the Ogama-Rockland mineralized
trend. A vast majority of the holes hit gold mineralization in at least one
zone. The table below provides a sample of highlights from this drilling. The
original targets for the drilling were the two main structures that were mined
during the Ogama mine operations. However, along with intersecting these two
structures at depth and along strike, numerous other mineralized structures were
intersected, both in the hangingwall and the footwall of the Ogama mineralized
zones. Key observations and conclusions from the drilling are as follows:
-- There are many more parallel to en-echelon mineralized zones in close
proximity to the original Ogama mineralized zones;
-- The Ogama mineralized zones remain open at both depth and along strike;
-- Drilling (and follow-up surface work) indicates that Ogama Vein #4 zone
is a minimum of 800 m strike length and is the same structure that was
mined shallowly from the Rockland shaft, 800 m west of the Ogama shaft;
-- Ogama Vein #4 which was only mined from the original Ogama mine between
200-300 metres beneath surface is mineralized to surface along its
entire strike length;
-- The 420 zone, a subsequent new discovery made by drilling in the
footwall of Ogama Vein #4 is mineralized to 500 m beneath surface and is
open along strike to the west of the discovery hole.
Drill Hole FROM (m) TO (m) WIDTH (m) Au (g/t) Zone
--------------------------------------------------------------------------
OG-09-01 460.60 462.52 1.92 36.54 VEIN #1
OG-09-02 181.75 183.10 1.35 21.00 HW3
OG-09-02 310.29 311.54 1.25 26.48 HW2
OG-09-02 495.98 496.86 0.88 25.17 VEIN #1
OG-09-03 432.09 435.38 3.29 3.92 VEIN #1
OG-09-07 471.53 476.26 4.73 34.99 VEIN #1
OG-09-07 190.50 191.11 0.61 24.55 HW3
OG-10-04 402.77 405.23 2.46 37.10 HW1
OG-10-04 199.48 200.35 0.87 27.30 HW3
OG-10-05 485.36 511.00 25.64 5.30 VEIN #4
OG-11-04 427.50 443.90 16.40 2.15 VEIN #4
OG-11-04 199.76 200.99 1.23 7.09 HW3
OG-11-07 411.76 413.61 1.85 15.14 HW1
OG-11-08 61.18 63.09 1.91 206.00 HW3
OG-11-09 365.25 369.07 3.82 96.47 HW1
OG-11-09 182.71 185.01 2.30 15.56 HW2
OG-11-11 197.52 200.52 3.00 3.20 HW2
OG-11-12 473.55 539.77 66.22 0.20 VEIN #1
OG-11-12 412.20 414.76 2.56 2.20 HW2
OG-11-12 28.30 30.55 2.25 25.60 HW3
OG-11-13 600.82 609.64 8.82 0.80 VEIN #4
OG-11-13 403.68 406.60 2.92 37.61 HW1
OG-11-13 209.40 210.92 1.52 5.35 HW2
OG-11-14 201.07 205.12 4.05 19.86 HW2
OG-11-15 573.00 583.25 10.25 1.02 VEIN #4
OG-11-19 34.15 35.37 1.22 9.08 new
OG-12-01 79.00 95.15 16.15 1.20 VEIN #1
OG-12-02 133.54 137.38 3.84 4.19 VEIN #1
OG-12-04 14.45 35.05 21.05 0.62 VEIN #1
OG-12-04 52.28 59.75 7.47 7.90 VEIN #4
including 52.28 55.00 2.72 21.45 VEIN #4
OG-12-05 338.53 345.00 6.47 5.94 420 ZONE
including 338.53 342.20 3.67 10.26 420 ZONE
OG-12-08 184.40 190.40 6.00 1.49 VEIN #4
OG-12-11 19.30 26.00 6.70 2.06 VEIN #4
OG-12-12 320.50 370.00 49.50 1.34 420 ZONE
OG-12-14 77.00 85.00 8.00 1.24 HW1
OG-12-15 51.21 64.07 12.86 1.20 HW2
OG-12-18 63.00 97.14 34.14 0.41 VEIN #4
OG-12-19 148.90 161.48 12.58 5.54 VEIN #4
including 148.90 151.16 2.26 11.43 VEIN #4
including 158.22 160.43 2.21 19.52 VEIN #4
OG-12-22 286.20 318.47 32.27 1.67 VEIN #1
including 287.80 296.50 8.70 4.57 VEIN #1
OG-12-22 351.00 364.00 13.00 2.89 VEIN #4
including 357.00 360.00 3.00 11.98 VEIN #4
OG-12-24 212.00 214.00 2.00 13.16 Onandago
OG-12-25 681.45 688.55 7.10 4.24 420 ZONE
including 683.63 685.84 2.21 13.28 420 ZONE
OG-12-27 75.98 78.45 2.47 9.95 HW4
OG-12-28 671.68 677.60 5.92 13.02 420 ZONE
including 673.00 674.50 1.50 49.79 420 ZONE
OG-12-28 509.00 513.50 4.50 2.05 FW3
OG-12-32 12.72 42.10 29.38 3.05 VEIN#4
including 19.04 22.00 2.96 25.69 VEIN#4
including 33.00 37.05 4.05 2.70 VEIN#4
- All core intervals are drill core widths and not true widths
Surface Exploration
Bison Gold, through geological and structural mapping, sampling and channel
cutting have identified numerous gold mineralized structures within the
Ogama-Rockland mineralized corridor that has been drill-tested and proven to
persist at depth. And have identified new zones that have not been drill-tested.
As well, Bison Gold has established significant surface mineralization at zones
outside of the Ogama-Rockland corridor, namely the shafts near Eldorado, Walton,
Growler, Kitchener, Gold Hill, Valley and Hope as well as unnamed new showings.
In 2012, Bison, along with the University of Waterloo and the Manitoba
Geological Survey, initiated a multi-year metallogenic and structural study on
the southwest portion of the Rice Lake Greenstone Belt/Ross River Pluton (host
rock of the Ogama-Rockland trend). The study is led by Dr. Shoufa Lin and the
results will be incorporated in to a doctoral thesis candidate Xiaohui Zhou as
well as the Manitoba Geological Survey's Annual Reports of Activities.
Geophysical Surveys and LiDAR
In 2011, due to recent successful usages in the Rice Lake Greenstone Belt, Bison
Gold deployed a high resolution laser mapping survey (LiDAR) and
orthophotography of the CM Property. The results of the survey aided greatly in
tracking mineralized structures across the CM Property and have generated
numerous new targets to be followed up in future exploration work.
In 2012, Bison Gold deployed a test surface magnetometer survey across the
Eldorado mineralized zone in an attempt to map the Eldorado mineralized
structure where it is not exposed at surface. The results were very encouraging
as they showed that the Eldorado zone has a potential mineralized strike length
in excess of 1 km.
Land Acquisition
In 2011, Bison Gold staked mineral claims across the remaining unclaimed portion
of the Ross River Pluton. It was determined that the Ross River Pluton (host
rock for Ogama-Rockland trend, Eldorado, Valley and Gold Hill showings) had
significant potential to host high grade gold deposits. Bison Gold staked 66
mineral claims totalling 14,629 hectares.
NI 43-101 Technical Report
In 2009, Bison Gold filed a NI 43-101 technical report pertaining to its CM
Property on Sedar. The Company has since commissioned Watts, Griffis and McQuat
to complete an updated report that incorporates exploration data, of over 16,152
assays that were tested at TSL labs in Saskatoon, SK from its 2009 - 2012
exploration activities.
QA/QC
Drill core was sawed, with half sent to TSL Labs and the other half retained for
reference. Most gold analyses were completed using 50g fire assay with AA
finish. A gravimetric finish is employed where samples return gold values in
excess of 3000 ppb. Screen metallics techniques were used on samples with
visible gold. TSL maintains a strict quality control program with standards,
blanks and duplicates included with every sample series. Standards and blanks
are inserted regularly by Bison Gold personnel in to the sample series at their
on-site core processing facility.
All exploration activities for Bison Gold are under the supervision and guidance
of David C. Benson, P.Geo, and a Qualified Person under NI 43-101. Mr. Benson
has reviewed the technical portions of this news release.
About Bison Gold
Bison Gold is a Canadian public company listed on the TSX Venture Exchange.
Bison Gold is focused on gold exploration with property assets in Manitoba,
Canada. The flagship property, Central Manitoba, is historically the second
largest gold producer in the prolific Rice Lake Greenstone Belt after San Gold
Corp.'s Rice Lake Mining Operations. Further details can be found on Bison
Gold's website at www.bisongold.com.
We seek safe harbour. This news release contains forward-looking statements
regarding the timing and content of upcoming programs and may be subject to
regulatory approval. Actual results may differ materially from those currently
anticipated in such statements. Without limitation, statements regarding
potential mineralization and resources, exploration results, and future plans
and objectives of the Company are forward looking statements that involve
various risks. The following are important factors that could cause the
Company's actual results to differ materially from those expressed or implied by
such forward looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral exploration,
risks associated with development, construction and mining operations, the
uncertainty of future profitability and the uncertainty of access to additional
capital. There can be no assurance that forward-looking statements will prove to
be accurate as actual results and future events may differ materially from those
anticipated in such statements. Bison undertakes no obligation to update such
forward-looking statements if circumstances or management's estimates or
opinions should change. The reader is cautioned not to place undue reliance on
such forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bison Gold Resources Inc.
Mr. Amir Mousavi
CEO
(647) 352-4900
www.bisongold.com
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