Montreal, Quebec--(Newsfile Corp. - January 14, 2025) - Bullion Gold Resources Corp. (TSXV: BGD) ("Bullion Gold" or "the Company") announces the appointment of Mr. Guy Morissette as President and Chief Executive Officer, replacing Mr. Jonathan Hamel who will continue his involvement as a director and treasurer of the Company.
"I am very pleased to partner with Bullion Gold and its Bodo SM project. This project reminds me a bit of the Nelligan project. When Vanstar acquired this project in 2010, there were very few known showings on it except for a few gold showings in the eastern part of the project. However, our work and perseverance led to the discovery, in 2013, of the beginnings of a world-class gold deposit with currently more than 5.5 million ounces indicated and inferred according to the SRK 43-101 report published in 2023. Bodo SM once again offers me this great challenge in a favorable geological environment that is little worked and little known. Regardless of the partially explored areas of the project, there is regularly a significant presence of strategic minerals, gold and silver. A truly exciting project!" concluded Mr. Morissette.
Mr. Morissette has worked in the mining industry for many years and has extensive expertise in exploration. He discovered the Nelligan gold deposits in 2013 (Vanstar Mining Resources was acquired by IAMGOLD in 2023) and Moriss in 2010 (43-101 by InnovExplo 2023). He also actively participated in the development of the Hendrick, GP, RB and Hurd and Moriss showings making up the Galloway gold deposit (1.79M inferred ounces of gold - 43-101 report InnovExplo 2023) and the Lake Expanse gold showing. He also participated in the development of the Bakoumba gold project in Gabon.
Mr. Morissette was also the founder of Perlite Canada, which is one of the only Canadian companies involved in the processing of perlite and vermiculite. Since 2020, Mr. Morissette has been acting as a mining advisor for the development and enhancement of the Galloway gold deposit, now owned by Fokus Mining Resources. Mr. Morissette was also a mining consultant for Bullion Gold, supervising several drilling campaigns on the Bousquet project between 2021 and 2023. Mr. Morissette is also a major shareholder of the Company, directly and indirectly holding nearly 9.54% of the Company's shares.
Bodo SM Project
The Bodo SM project consists of 763 cells covering an area of over 410 km², making it a major project. Acquired for its polymetallic nature and the notable presence of significant strategic showings found in the 1960s, this project has been little worked on since. Bullion Gold holds 100% of the interests in this project. No royalties or various constraints (protected area - park - animal protection zone, etc.) are subject to this project. A few drill holes carried out entirely in the eastern part in the early 1960s demonstrated the significant presence of gold, silver, copper, zinc and molybdenum in the Rivon Lake, Canico and Papas sectors. Other samples taken on the surface also revealed the presence of nickel and cobalt in the Canico sector.
Work carried out by the company in June 2024 in the eastern part of the project confirmed the polymetallic nature and its potential to host a VMS, a copper porphyry or a gold, silver and copper polymetallic (see the press release of August 27, 2024).
Bodo Project Maps
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During the summer of 2024, the Ministry of Natural Resources and Forestry (MRNF) completed a geological and sampling survey (BG 2024-05) in the western and southwestern part of the property. This allowed the discovery of some interesting indices including the Didi zinc, copper and gold showing and the Licé lithium showing as well as obtaining many other anomalous results in Cu, Au, Zn, Li, Co, and Ni.
According to the data collected by the MRNF during 2024 in the western part of Bodo, this study would present favorable areas for eight types of mineralization:
- Base metal massive sulfide mineralization associated with volcanic rocks of the Lac des Montagnes, Tichégami and Michaux groups;
- Base metal mineralization associated with volcanogenic massive sulfides of the Voirdye Formation;
- Synvolcanic gold-bearing quartz-sulfide veins associated with volcanic rocks of the Michaux Group;
- Exhalative sulfide mineralization hosted in sedimentary rocks of the Voirdye Formation;
- Gold mineralization associated with quartz pebble conglomerates and pyritic quartzites of the Voirdye Formation;
- Stratiform gold mineralization in Algoma-type banded iron formations of the Lac des Montagnes and Tichégami groups;
- Magmatic nickel-copper mineralization (± cobalt ± platinum group elements) associated with intrusive rocks of the Nasacauso and Chamic mafic-ultramafic suites;
- Lithium mineralization associated with granitic pegmatites of the Senay Suite.
These new favorable zones come from little-known mineralizations discovered during the 2024 work. The Lac des Montagnes group is a very interesting geological formation and could become a major formation in terms of economic potential. It already contains several gold, chrome, copper, zinc showings as well as lithium (Whabouchi) and nickel (Nisk-1 and Lion) deposits. This formation has been little prospected in past years, which increases its discovery potential. Bullion Gold, with its Bodo SM project, controls this geological band over more than 40 kilometers.
Next Steps
The Company plans to begin a ground exploration program along the Lac des Montagnes geological corridor in June 2025. The program will also revisit the Lac Rivon, Canico and Papas areas. In addition, the Company plans to conduct VTEM-Mag surveys using drones on specific portions of the property to potentially trace conductive sulphide zones. The Company is also evaluating the possibility of conducting some geochemical surveys in various locations considered favorable.
This press release was read and approved by Gilles Laverdière, P.Geo., director, and Qualified Person under National Instrument 43-101.
About Bullion Gold Resources
Bullion Gold is involved in the identification, exploration and development of viable mineral properties in the province of Quebec. The Company is developing the 100% owned Bousquet and Bodo SM projects. For more information, visit www.bulliongold.ca.
For further information, please contact:
Guy Morissette
President and CEO
gmorissette@bulliongold.ca
Other Information
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.
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 several 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 December 31, 2023 and the third quarter ended September 30, 2024, which are available on the Corporation's profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Bullion Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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SOURCE: Bullion Gold Resources Corporation
