Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

April 30, 2012 15:07 ET

Bison Gold Resources Inc. Exploration Update: Drilling Success Continues at Ogama-Rockland; Vein 4 Structure Proves to be Minimum 550 Meters Length

TORONTO, ONTARIO--(Marketwire - April 30, 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 and from holes OG-12-06 to OG-12-12 on April 3, 2012. This release details results from the next seven drill holes on the program (OG-12-13 to OG-12-19). Drill hole OG-12-19 targeted Ogama veins 1 & 2 at depth below the intersections from OG-12-07 (see press release dated April 3, 2012). OG-12-19 cut 5.45 g/t Au over drill core width of 12.58 metres in Ogama Vein #4 approximately 550 metres west along strike from the historical Ogama mine shaft. 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 there is now continuity along strike and at depth of the Ogama Vein #4 structure and it is highly likely that the Ogama Vein #4 structure and the historical Rockland Mine horizon are the same mineralized zone," remarked David Benson, VP Exploration and Qualified Person for Bison Gold.

The remaining drill holes reported here each targeted multiple zones within the Ogama Structural Corridor extending both east and west along strike from the Ogama mine workings. The exceptions, drill holes OG-12-16 and OG-12-17 targeted a new mineralized zone discovered during the 2011 surface mapping program and is a parallel zone to Ogama Veins #1 and #4 located approximately 225 metres southwest of the Ogama mine workings. The 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 HW (hangingwall) and FW (footwall). Please refer to the table below for drill intersections from drill holes OG-12-13 through OG-12-19.

HOLE From (m) To (m) Width (m) Au g/t Zone
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-12-18 63.00 97.14 34.14 0.41 VEIN #1/#4
OG-12-17 31.00 34.00 3.00 0.65 FW2
OG-12-16 30.48 32.00 1.52 2.83 FW2
OG-12-15 13.16 20.67 7.51 1.25 HW
including 15.70 18.40 2.70 3.26 HW
OG-12-15 40.38 40.88 0.50 9.57 HW
OG-12-15 51.21 64.07 12.86 1.20 HW2
OG-12-15 226.24 227.63 1.39 1.88 VEIN #1
OG-12-15 316.53 317.70 1.17 0.78 VEIN #4
OG-12-15 337.30 337.64 0.34 1.38 VEIN #4
OG-12-15 349.55 349.91 0.36 7.24 VEIN #4
OG-12-14 77.00 85.00 8.00 1.24 HW
OG-12-14 104.62 104.87 0.25 6.76 VEIN #1
OG-12-14 110.13 114.40 4.27 2.30 VEIN #4
OG-12-14 376.00 379.00 3.00 0.42 FW
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

To date, Bison has completed 26 holes in this program for 7,744 metres. The company is currently awaiting results from drill holes OG-12-20 through OG-12-26 and expects results from the assay lab within the next several weeks. Two drills are currently on-site and the 38-hole, 15,000 metre program is anticipated to be completed in June of 2012.

In conjunction with this summers drill program Bison management is also currently reviewing proposals from technical consulting companies for the purposes of publishing a NI 43-101 compliant resource estimate, targeted for this fall, 2012. "This is a very exciting milestone for Bison shareholders as we will soon become the 2nd largest gold resource in the Rice Lake Belt" said Lucas Ewart, President and CEO, Bison Gold. To date, the only other mining company to publish a resource in the Rice Lake Greenstone Belt is active gold producer San Gold Corporation.

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