Bonaparte Resources Inc.
TSX VENTURE : BON

Bonaparte Resources Inc.

January 30, 2012 09:00 ET

Bonaparte Resources Inc. Intersects 0.84 g/t Gold and 1.58% Copper Over 8.01 Metres at Hopper Property, Yukon

BURNABY, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2012) -

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Bonaparte Resources Inc. (TSX VENTURE:BON) ("Bonaparte") is pleased to announce assay results from the final five diamond drill holes completed during the 2011 exploration program at the Hopper property, located in southwestern Yukon Territory, Canada. Diamond drilling focused on skarn mineralization developed within shallowly dipping carbonaceous sedimentary rocks peripheral to a granitic intrusion that hosts porphyry-style showings.

News release highlights:

  • All five holes intersected mineralized stacked skarn horizons with the most significant intercepts returning 0.54 g/t gold and 1.62% copper over 8.50 m and 0.84 g/t gold and 1.58% copper over 8.01 m, respectively;
  • The relatively flat lying mineralized skarn horizons were identified in 2011 over a 500 by 300 m area and to a depth of 250 m and remain open in all directions; and,
  • A VTEM geophysical survey and soil geochemistry have identified additional drill targets on the property.

Diamond drill holes returned significant gold, copper and silver results as shown in the table below.

Drill Hole ID From
(m)
To
(m)
Interval
(m)**
Gold
(g/t)
Copper
(%)
Silver
(g/t)
DDH-11-01* 2.95 16.65 13.70 0.25 0.41 3.84
Including 9.69 12.02 2.33 0.87 1.24 12.95
125.67 142.60 16.93 1.76 0.22 1.75
Including 125.67 133.17 7.50 3.35 0.43 3.55
Including 125.67 127.67 2.00 9.44 0.01 1.04
DDH-11-02 28.01 30.45 2.44 0.72 0.52 4.15
36.58 39.25 2.67 0.56 1.18 11.62
DDH-11-03 58.28 66.78 8.50 0.54 1.62 9.30
88.28 90.70 2.42 0.64 1.87 17.74
130.00 132.45 2.45 0.18 0.72 6.79
DDH-11-04 57.39 62.53 5.14 0.84 0.95 5.64
174.86 182.87 8.01 0.84 1.58 14.82
DDH-11-05 126.93 128.05 1.12 1.83 0.46 1.74
DDH-11-06 131.80 136.80 5.00 0.29 0.50 2.35
276.35 278.01 1.66 0.40 0.63 5.21
279.10 282.93 5.49 0.59 0.73 14.97
* Previously released in press release dated November 21, 2011.
** Interval represents the downhole intersection length and true widths are estimated to be approximately 80-90% of the interval.

A plan map and cross-section showing significant assay results from 2011 drill holes can be found on Bonaparte's website (www.bonaparteresources.ca). Drill holes intercepted numerous weakly mineralized skarn horizons outside of the reported intervals.

During summer 2011, Bonaparte conducted soil geochemical sampling to extend historical coverage and it recently completed a 952 line km VTEM survey over the northern and southern portions of the property. The Company's geophysical consultant is currently interpreting results from the VTEM survey.

The Hopper property covers an area of 75 km2. It hosts both skarn- and porphyry-style copper-gold-silver targets. Skarn mineralization dominantly consists of disseminated to semi-massive magnetite and chalcopyrite, which are hosted in stacked limestone horizons that are locally overlain by silicified limestone. The mineralized horizons are marked by strong VTEM conductors. A total of 1,234 m of diamond drilling was completed in 6 holes. Results from the previously reported reverse circulation percussion drill program identified porphyry-style mineralization (see December 6, 2011 news release).

The Hopper property is located in the Whitehorse Mining District, Yukon Territory. It is directly accessible via a two-wheel drive road from the Alaska Highway and is located 15 km north of the Aishihik Hydroelectric Dam. Bonaparte may acquire up to 100% interest in the Hopper property subject to a 2% NSR royalty from Strategic Metals Ltd. (TSX VENTURE:SMD).

Drill core samples from the Hopper property were processed in 36 sample batches with each batch including two standard and two blank samples. 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 by aqua regia digestion and mass spectrometry (ME-MS41). All samples passed QAQC reviews.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

Randy Saunders, CEO and Director

For further information, please visit Bonaparte's website at www.bonaparteresources.ca.

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