Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

November 02, 2011 16:53 ET

CORRECTION FROM SOURCE-Bison Gold Resources Inc. Exploration Update: Surface Exploration Identifies Additional Gold-Bearing Structures on the Central Manitoba and Cryderman Properties

TORONTO, ONTARIO--(Marketwire - Nov. 2, 2011) -

This document corrects and replaces the press release that was sent on November, 2, 2011 at 11:42 AM ET. There have been minor changes throughout with the inclusion of the TSX Venture Disclaimer towards the end of the release.

Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to provide an update on results from ongoing surface work on the Ogama-Rockland trend from the Company's Central Manitoba Property and the Cryderman Property.

Extensive clearing, trenching and channel sampling in the Ogama-Rockland area of the Central Manitoba Property has discovered additional gold-bearing structures. Following up on the discovery of the HW3 zone by diamond drilling and field mapping/sampling (see News Releases dated July 8, 2011 and September 15, 2011), Bison Gold technical personnel conducted extensive clearing along strike to the east following the surface expression of the gold-bearing structure. The HW3 zone has been confirmed to extend 100 metres along strike to the east of the original discovery as confirmed by surface channel samples C-841 and C-755. Please refer to the following table for the assay results.

Sample/Channel UTM E
(m)
UTM N
(m)
Area Type Width
(m)
Au
g/t
C-755 332755 5639582 Ogama composite 1.85 27.25
420838 including Ogama channel 0.30 152.1
420839 including Ogama channel 0.30 15.67
C-841 332841 5639524 Ogama composite 0.90 26.18
420867 including Ogama channel 0.30 42.01
420868 including Ogama channel 0.30 24.18
420869 including Ogama channel 0.30 12.35

Bison Gold technical personnel have continued their extensive surface program on the Property in anticipation of a major diamond drilling campaign during the winter months of 2011-2012.

The Cryderman Property, located approximately 8 km to the north of the Central Manitoba Property and approximately 23 km east of San Gold Corporation's Rice Lake Gold Mines Project, has seen sporadic exploration and limited development since the initial discovery of a large gold-bearing quartz vein in 1925. By 1932, a 79 metre shaft had been sunk on the 'Main Vein' and Cryderman Gold Mining Ltd. attempted production but only produced 373 ounces of gold over a 3 month period. Limited exploration has occurred on the Property since the failed attempt at production.

Bison Gold technical personnel conducted an extensive due diligence and compilation of all the historical exploration on the Property. Highlights of this due diligence are: four shear-hosted gold-bearing structures have been discovered on the Property to date; an additional four multimedia gold geochemical anomalies exist on the Property and remain untested and; the original Cryderman Deposit remains open along strike and to depth.

In mid-August of 2011, Bison Gold initiated the first modern reconnaissance field mapping and geochemical sampling program on the Cryderman Property based on their due diligence work. Results were very encouraging with the historical mineralized showings confirmed by sampling. Seven (7) of one hundred and thirty-six (136) grab samples returned gold values greater than 3 g/t Au with a majority of the samples being taken in an attempt to identify lithological and alteration geochemistry surrounding heavily mineralized rocks. Please refer to the table below for the assay results.

Sample/Channel UTM E
(m)
UTM N
(m)
Area Type Width
(m)
Au
g/t
492602 332342 5650111 Cryderman grab n/a 61.09
492604 332342 5650111 Cryderman grab n/a 37.48
492613 332386 5650080 Cryderman float n/a 32.92
492603 332342 5650111 Cryderman grab n/a 27.16
492604 332279 5650183 Cryderman grab n/a 15.78
492605 332266 5650193 Cryderman grab n/a 14.68
492606 332611 5650355 Cryderman grab n/a 3.02

"We are very encouraged by the results obtained from our exploration team on the Cryderman Property this summer," stated Lucas Ewart, President and CEO of Bison Gold. "We believe there is great potential for the Cryderman Property to host significant gold mineralization and the exploration team has been tasked with developing the next phase of exploration work that will include diamond drilling on the Property for 2012."

QA/QC

All rock samples from surface exploration are sent to TSL Labs in Saskatoon, SK and the other half retained for reference. A representative sample for each sample sent for assay is collected in the field and stored at Bison Gold's core processing facility. 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 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, base metal and rare element exploration with property assets in Canada. The flagship property, Central Manitoba, is historically the 2nd largest gold producer in the prolific Rice Lake Greenstone Belt after San Gold Corporation'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 Gold 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 & CEO
    (416) 488-2590