Bullion Gold sets out Quebec project exploration work
Executive Summary
- Bullion Gold Resources closed two private placements, issuing a total of 4,392,857 flow‑through share units for gross proceeds of $267,500.
- The company provided operational updates on its Bousquet, Langlade and Bodo (Rivon zone) exploration projects, including pending assay results, surface programs, permit status, and promising grab sample grades.
- Ongoing discussions with financial partners aim to fund an initial drilling program on the Rivon zone of the Bodo project.
Key Details
- Financing:
- Issued 2,392,857 flow‑through share units at $0.07 per unit → gross proceeds $167,500.
- Issued 2,000,000 common share purchase warrant units at $0.05 per unit → gross proceeds $100,000.
- Each flow‑through unit includes one flow‑through share and half a common share purchase warrant (exercise price $0.10, 12‑month term).
-
Each warrant unit includes one common share purchase warrant (exercise price $0.08, 24‑month term).
-
Bousquet Project:
- Olympio Metals has contributed $300,000 in cash and shares to date; total exploration spend ≈ $1 M.
-
Assay results from recent work are expected within weeks.
-
Langlade Project:
- Surface exploration underway to verify extensions of the Langlade zone and prepare a 2,000‑m drilling program.
-
Company awaiting drilling permits; mineralization identified as VMS style (copper, zinc, silver).
-
Bodo – Global Sector:
-
Awaiting assay results from samples collected outside the Rivon zone; evaluating plans for an initial drill program.
-
Bodo – Rivon Zone:
- Recent airborne magnetic‑TDEM survey shows strong correlation between magnetic anomalies and known shear zones.
- At least five gold‑bearing, polymetallic shear zones identified (gold, silver, copper, zinc, lead; also cobalt and nickel).
- Grab samples returned up to 15.75 % Cu, 384 g/t Ag, 6.85 g/t Au, 1.21 % Zn.
-
Company in discussions with financial partners to fund drilling of the Rivon zone.
-
Permitting:
- Bodo project has obtained permits for drilling; Langlade still pending permits for stripping and drilling.
Notable Quotes
“We are encouraged by the progress of our projects… At Bousquet, ongoing work confirms the gold potential of new thick, sulphide‑rich zones… At Langlade, we are preparing for a drilling program that could better define the potential of a polymetallic VMS deposit… Finally, at Bodo, geophysical and geological data from the Rivon zone highlight a large‑scale polymetallic system that quickly merits an initial drilling program,” – Guy Morissette, President & CEO, Bullion Gold Resources.