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Bullion Gold Ressources Completes the Acquisition of the Bousquet Property Along the Cadillac-Larder Lake Fault
MONTRÉAL, June 14, 2021 (GLOBE NEWSWIRE) -- Bullion Gold Resources Corp. (TSX-V: BGD) (“Bullion Gold” or the “Corporation”) is pleased to announce that, further
About this update from Bullion Gold Resources Corp.
[{"type":"text","content":" MONTRÉAL, June 14, 2021 (GLOBE NEWSWIRE) -- 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 ...