GC-Global Capital Corp.

GC-Global Capital Corp.

August 24, 2010 09:30 ET

GC-Global Capital Corp. Provides Update on the Drilling Results of Its Bridge Loan Client, Bison Gold Resources Inc.

TORONTO, ONTARIO--(Marketwire - Aug. 24, 2010) - GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to provide its shareholders with an update on the drilling results of its client company, Bison Gold Resources Inc. ("Bison Gold") (TSX VENTURE:BGE) on the Ogama-Rockland trend from the Company's Central Manitoba Property.

Diamond drill hole OG-09-07 intersected 4.72 metres grading 34.99 g/t Au, including 95.56 g/t Au over 1.68 metres, in a zone of intense quartz-carbonate alteration, shearing and quartz veining containing visible gold within a granodiorite. Results are tabulated below. The widths reported are drill intercepted core widths and not true widths.

Drill Hole Core interval(m) Width (m) Au g/t Zone
OG-09-07 471.53 - 476.26 4.73 34.99 Ogama Vein 1
Including 474.58 - 476.26 1.68 95.56 Ogama Vein 1
OG-09-07 190.50 - 191.11 0.61 24.55 Ogama Vein new

Drill hole OG-09-07 targeted the potential north-west strike extension of the past-producing Ogama mine gold-bearing structures (vein 1). The intersections occur approximately at 175 metres (new vein) and 425 metres (vein 1) vertical depth and are 175 metres to the northwest of the nearest historical mine workings. Drill hole OG-09-04, which returned no significant values, targeted vein 1 approximately 50 m to the northwest of the nearest historical mine workings.

"These latest drill intersections are consistent with other significant discoveries made in the prolific Rice Lake Greenstone Belt over the past several years by San Gold Corporation," stated David Benson P.Geo, V.P. Exploration for Bison Gold. "They also confirm that the gold-bearing structures of the Ogama Mine persist at depth and extend along strike. Vein 1 appears to have significantly increased in width and grade at depth and to the northwest." The drilling (OG-09-01, -02, -03 and -07) has also identified new, narrow hangingwall gold-bearing structures; the extents of which remain unknown. "The high-grade Ogama-Rockland Gold deposit is open in all directions and future exploration efforts will focus on outlining and defining a resource for the Deposit." The past-producing Ogama-Rockland mining operation produced 45,440 ounces of gold from 1948-1951, primarily from the Ogama shaft. Vein 1 was mined from surface to the 230 m level. Vein 4 was mined from the 230 m level to the 300 m level.

The Company is now in receipt of all assay results from the latest drilling campaign. No significant assay values were returned from drilling on the depth extent Valley Vein (OG-09-05, -06 and -08).


Drill core was sawed, with half sent to TSL Labs in Saskatoon, SK and the other half retained for reference. Most gold analyses were done 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 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.

Global Capital had previously provided a $250,000 secured convertible loan to Bison Gold. The convertible loan bears interest at a rate of 12% per annum compounded and payable monthly. Global Capital received a 2% structuring fee for the transaction. The loan is convertible into 2,500,000 units at a conversion price of $0.10 per unit. Each unit is comprised of one common share of Bison and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $0.15.

Chief Executive Officer of Global Capital, Jason Ewart commented, "We are happy to be providing these exciting drilling results of Bison Gold to our shareholders and look forward to continuing to highlight the results of their future operations."

About GC-Global Capital Corp.

Global Capital is a merchant bank which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. 

About Bison Gold

Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold, base metal and rare element exploration with property assets in Manitoba, Canada. Bison Gold's land holdings have historically produced in excess of 200,000 ounces of gold. Further details can be found on Bison Gold's website at www.bisongold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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