- Bullion Gold Resources (BGD) has completed its acquisition of the Bousquet Lake Property from Breakwater Resources
- The company now owns a 100 per cent interest in this property at the heart of the Abitibi mining camp
- Although no recent drilling has occurred at the property, Bullion Gold plans to commence a summer exploration program this year
- Bullion Gold identifies, explores, and develops viable mineral properties in Quebec and British Columbia
- Bullion Gold Resources Corp. (BGD) is down 4.76 per cent, trading at $0.10 per share
Bullion Gold Resources (BGD) has completed its acquisition of the Bousquet Lake Property from Breakwater Resources.
In consideration of $60,000 cash, the company now owns a 100 per cent interest in this property at the heart of the Abitibi mining camp, which hosts a historic production of gold along the Cadillac-Larder Lake Fault.
The Cadillac-Larder Lake Break runs across the Bousquet Lake Property for 7.5 kilometres, containing over 20 historic mines that produced over 25 million ounces of gold between 1926 and 2020.
Jonathan Hamel, president and CEO of Bullion Gold, stated,
“We are incredibly pleased with the acquisition of the Bousquet property located along the Cadillac-Larder-Lake Fault, historically one of the most prolific gold faults in the world.”
In the southern area of the property, historic exploration from 1932 until 1945 discovered four gold showings within a shear zone parallel to the Cadillac-Larder Lake Break:
- On the Paquin showings, grades of 7.13 g/t gold over 12.10 metres, 4.51 g/t gold over 9.40 metres, and 2.44 g/t gold over 13.00 metres were intersected in historical drill holes;
- On the Decoeur showing, historical drilling intersected 1.26 g/t gold over 18.60 metres and 1.16 g/t gold over 16.80 metres;
- 46 g/t and 19.55 g/t gold over widths of 1.5 metres were discovered on the Joannes gold discovery in the newly acquired western block of the property; and
- An intercept of 8.09 g/t gold over 2.0 metres was also intersected on the Calder-Bousquet gold occurrence.
No recent drilling has taken place on the property, but the company is preparing a summer exploration campaign that will consist of an airborne magnetic survey, geological mapping and sampling, and a drill program.
Bullion Gold identifies, explores, and develops viable mineral properties in Quebec and British Columbia.
Bullion Gold Resources Corp. (BGD) is down 4.76 per cent, trading at $0.10 per share as of 3:52 pm ET.
