The Bousquet Property is underlain by meta-sedimentary rocks of the
A strong gold mineralized system was discovered in the southern portion of the Bousquet Lake Property. Three gold showings, Decoeur,
The gold mineralization is located in a fold zone above the 250m level. Strong possibilities exist that other folds from the same deformation exist laterally or at depth. The Blackfly group of claims has been little explored in the past due to the paucity of outcrops but the use of new geophysical methods can generate good and valid targets from the deposit models of this high quality location within one of the most prolific world class gold belt.
Gold mineralization was also found in a 2003 drill program in the felsic intrusion (called tonalite) within the
“We are incredibly pleased with this option agreement, which positions us strategically on the Cadillac Fault, a globally recognized gold producing environment. We were attracted by the Property due to the interesting historical showings (
Terms of Agreement
Under the terms of the Agreement, the Company may earn a 100% interest in seventy-eight (78) claims forming The Property by satisfying the following conditions, subject to
I. paying to Vantex a total of
$30,000 upon the TSX Venture Exchange Approval (The “Effective Date”);- a further
$30,000 on or before the 3th month anniversary of the Effective Date; - a further
$30,000 on or before the 6th month anniversary of the Effective Date; - a further
$30,000 on or before the 9th month anniversary of the Effective Date; and - a final
$30,000 on or before the 12th month anniversary of the Effective Date.
II. allotting and issuing to Vantex, as fully paid and non-assessable, a total of 1,250,000 Shares as follows:
- 500,000 upon the Effective Date;
- a further 375,000 on or before the 6th month anniversary of the Effective Date; and
- a final 375,000 on or before the 9th month anniversary of the Effective Date.
Vantex owns a 100% interest in the 52 claims of the Blackfly block and owns a 60% interest in the Normar block (18 claims), the other 40% belongs to Nyrstar N.V. from
Mr.
About Bullion Gold
Bullion Gold is involved in the identification, exploration and development of viable mineral properties in the Province Quebec and
For further information, please contact:
President and CEO
jhamel@bulliongold.ca
514-531-8129
Other Information
The
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation’s management discussion and analysis of the financial condition and results of operations for the year ended
NOT FOR DISSEMINATION IN
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d7c2fb1-10e3-4feb-9368-57e1af2b6187
Figure 1
Bousquet Property Location
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