Bonaparte Resources Inc.
TSX VENTURE : BON

Bonaparte Resources Inc.

February 15, 2012 15:10 ET

Bonaparte Resources Inc. Announces Discovery of Highgrade Gold-Copper Vein and Skarn Mineralization at the Hooch Property, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2012) -

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Bonaparte Resources Inc. (TSX VENTURE:BON) ("Bonaparte") is pleased to announce results from 2011 surface exploration at its Hooch property located in southwest Yukon. The property lies 14 km east of the government-maintained Aishihik Lake road and 25 km south-southeast of its Hopper property (see news releases dated November 21, 2011 and January 30, 2012). Highlights from 2011 work at the Hooch property include:

  • Discovery of a gold-rich vein that grades 13.7 g/t gold and 1.8% copper; and,
  • Confirmation of historical grades from skarn zones, from which a 2011 sample returned 2.10 g/t gold and 7.22% copper.

Known bedrock exposures on the Hooch property are limited to historical bulldozer trenches. Previous explorers partially delineated two skarn zones that have not been drill tested. The North zone covers a 30 by 100 m area and the South zone covers a 70 by 120 m area. Both of these skarn horizons are open to extension along strike.

Skarn mineralogy comprises pyrrhotite, magnetite, chalcopyrite and pyrite with minor molybdenum and molybdo-scheelite. The best historical result was a chip sample of skarn which returned 2.06 g/t gold and 2.48% copper over 3.4 m. A rock sample of similar skarn material collected in 2011 yielded 2.10 g/t gold and 7.22% copper.

In 2011, Bonaparte discovered a one metre wide exposure of gold-rich quartz in a shallow trench adjacent to the South skarn zone. Wallrocks are not exposed so the thickness and orientation of the vein are uncertain. The vein comprises rusty, grey to white vuggy quartz with disseminated chalcocite; a composite chip sample returned 13.7 g/t gold and 1.8% copper over 1 m.

The skarns have a strong magnetic signature, and Bonaparte has recently completed 1132 line kilometres of helicopter-borne VTEM and magnetic surveys to delineate current targets and identify similar targets nearby. The Company's geophysical consultant is currently interpreting results from the VTEM survey.

The 2011 program was conducted by Archer, Cathro & Associates (1981) Limited. Technical information in this news release has been reviewed by Heather Smith, B.Sc., P.Geo., a qualified person for the purpose of National Instrument 43-101.

Analytical work was done by ALS Chemex with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. All rock samples were initially analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 35 other elements using an aqua regia digestion followed by inductively coupled plasma and atomic emission spectrometry (ME-ICP41). Overlimit values for gold were determined by fire assay and gravimetric finish (Au-GRA22). Soil samples were dried, screened to -180 microns, and then analyzed for 35 elements using an aqua regia digestion followed by inductively coupled plasma and atomic emission spectrometry (ME-ICP41). An additional 30 g charge was further analyzed for gold by fire assay followed by atomic absorption (Au-AA24).

ON BEHALF OF THE BOARD OF DIRECTORS

Randy Saunders, CEO and Director

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