Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

April 03, 2012 12:02 ET

Bison Gold Resources Inc. Exploration Update: Drilling Expands the New 420 Zone; Drill Hole OG-12-12 Cuts 49.5 Metres of 1.34 g/t Gold

TORONTO, ONTARIO--(Marketwire - April 3, 2012) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to provide an update on results from the current drilling program on the Ogama Structural Corridor from the Company's Central Manitoba Property.

Bison released results from the first five holes of this drilling program on March 12, 2012. This release details results from the next seven drill holes on the program. Drill hole OG-12-12 targeted the newly discovered 420 Zone as well as Ogama veins 1 & 2 50 metres west along strike from the discovery hole OG-12-05 (see press release dated March 12, 2012, http://www.marketwire.com/press-release/bison-gold-resources-inc-exploration-update-drilling-continues-confirm-robustness-ogama-tsx-venture-bge-1630747.htm). All targets were intersected with a major intersection of 1.34 g/t gold over 49.5 metres in the 420 zone at a vertical depth averaging 230 metres. "This intersection is significant in the fact that the alteration zone hosting the mineralized is apparently significantly thicker and stronger in intensity than noted in the discovery hole, OG-12-05," remarked David Benson, VP Exploration and Qualified Person for Bison Gold.

Drill hole OG-12-06 also targeted the 420 Zone 150 metres below the intersection from OG-12-05. The drill hole cut 12 metres with a grade of 0.65 g/t gold at a vertical depth of 400 metres thereby verifying the depth extension of the new zone.

The remaining drill holes reported here each targeted multiple zones within the Ogama Structural Corridor and were primarily step-out holes and infill drilling with the exception of OG-12-09, which was targeting a mineralized structure discovered during surface exploration west of the Rockland mine workings. This hole and OG-12-10 had to be abandoned before the target zones were achieved due to excessive deviation of the drill hole. The other remaining holes intersected the targeted horizons with anticipated results as well as cutting additional anomalous zones not previously identified or reported adjacent to the targets. These are termed New HW (hangingwall) and New FW (footwall). Please refer to the table below for drill intersections from drill holes OG-12-06 through OG-12-12.

HOLE From (m) To (m) Width (m) Au g/t Zone
OG-12-12 97.85 102.50 4.65 1.61 VEIN #1
OG-12-12 132.90 134.00 1.10 2.24 VEIN #4
OG-12-12 320.50 370.00 49.50 1.34 420 ZONE
including 321.10 324.50 3.40 12.20 420 ZONE
including 359.50 360.00 0.50 18.45 420 ZONE
OG-12-11 19.30 26.00 6.70 2.06 VEIN #4
including 23.20 26.00 2.80 3.94 VEIN #4
OG-12-11 57.65 58.38 0.73 7.47 NEW FW
OG-12-11 189.18 190.38 1.20 2.54 NEW FW
OG-12-10 189.00 190.50 1.50 1.23 NEW FW
OG-12-10 202.00 203.00 1.00 1.74 NEW FW
OG-12-10 262.75 263.46 0.71 4.97 NEW FW
OG-12-09 N.S.V.
OG-12-08 136.96 138.00 1.04 2.06 VEIN #1
OG-12-08 158.00 166.50 8.50 0.34 NEW HW
OG-12-08 184.40 190.40 6.00 1.49 VEIN #4
OG-12-07 29.97 30.57 0.60 6.03 VEIN #4
OG-12-07 223.55 227.85 4.30 0.31 NEW FW
OG-12-06 52.23 54.82 2.59 1.21 HW#2
OG-12-06 196.00 201.00 5.00 1.11 VEIN #1
OG-12-06 495.50 507.50 12.00 0.65 42O ZONE
Width (m) is the length in drill core and does not represent true width of the mineralization. True width is estimated in all cases to be greater than 80% of drill core width.
N.S.V. = No significant values

"We are very pleased with the progress of the drilling program to date," stated Lucas Ewart, President and CEO of Bison Gold. "Our exploration team has had an incredibly high success rate with the drilling and ability to prove out the continuity of the mineralized zones."

Bison Gold has conducted over 26,000 meters on the Central Manitoba Property since 2006 making it the second most active mineral exploration company in the region, next only to gold producer, SanGold Corporation. Another 10,000 meters is budgeted and ongoing with two diamond drilling rigs currently on site.

Bison Gold's developing assets are proving similar mineralization, geological and structural histories as the current gold producers in the Rice Lake Greenstone Belt but also the Marmion granitoid suite and structural zone, host rocks to the Hammond Reef deposit. "With these significant and consistent grades we are discovering, we anticipate publishing our first resource by the third quarter of 2012," stated Amir Mousavi, Vice President Corporate Development and CFO of Bison Gold.

Recently, Bison Gold announced the acquisition of an additional 14,615 hectares of highly prospective mineral claims within the Rice Lake Greenstone Belt making it the largest solely held mineral claim holder in the Belt.

QA/QC

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 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 2nd 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.

Neither the 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.

Contact Information

  • Bison Gold Resources Inc.
    Mr. Lucas Ewart
    President and CEO
    (416) 488-2590
    www.bisongold.com