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NEW PASS GOLD PROPERTY (nv) |
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Bonaventure Resumes Drilling a New Pass Gold Project in Nevada
BONAVENTURE ISSUES SIGNIFICANT DRILL RESULTS FROM THE NEW PASS PROJECT, NEVADA: 115 feet of 0.037 oz/ton gold, 0.22oz/ton silver, and 185 feet of 0.027 oz/ton gold, 0.25 oz/ton silver
Bonaventure announces new Director and expanded Resource
Joint Press Release with White Knight Resources (WKR) on New Pass Property: Consultant Study Defines 300,000 Ounce Gold Equivalent Inferred Resource at New Pass Project
New Pass Project Phase 1 Drilling Results Expand Resource QUICK LINKS
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Press Release Bonaventure intersects additional mineralization and increases size of gold-silver system at the New Pass Property (Nevada) ...more
Gold mineralization at New Pass is hosted in medium to thin bedded silt and carbonaceous limestones. In a a joint venture with White Knight Resources, Ltd. which is now wholly owned by U.S. Gold (TSX: UXG), Bonaventure has completed over sixty (60) RC-drilled holes and is drilling is now underway in the Phase 3 Drilling Program. The updated 43-101 Report by S. Arentz does NOT take into consideration the 2007 drilling campaign and any results achieved to date in the 2008 drilling campaign.
Bonaventure?s drilling program has confirmed previous drilling results in the area of the current resource and identified potential shallow extensions 200 to 350 feet to the east. The ?Indicated Mineral Resource? (see below) occurs between sections 700N (north) and 2000N.
More importantly, scattered drill holes from section 2100N to section 3500N have intersected 55 to 75 feet thick zones of mineralization indicating the potential for a major expansion of the resource to the north. In addition, north-northwest trending high-angle faults have been identified that may be feeder structures for the deposit and that are separate targets. Results for one of these structures include 10 feet averaging 0.307 oz/ton gold and 0.39 oz/ton silver. DOWNLOADS:
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Description and Location The New Pass property is located along the Austin-Lovelock mineral belt in the New Pass Mining District, 27 miles west of Austin, Nevada. New Pass is comprised of 107 unpatented lode mining claims (2,231 acres), and is accessed from Austin, Nevada by travelling west on US Highway 50 for 34 miles, north on the Edwards Valley Road for 5 miles, and east southeast for 21/2 miles on an unimproved road to the centre of the property. History Dekalb Mining first discovered gold on New Pass in 1980 as a result of follow-up work to a NURE stream sediment survey. Dekalb transferred ownership of the claims to Northern Illinois Coal, Oil, and Resources Mineral Ventures ("NICOR") in August of 1982. NICOR and its successor, Westmont Gold Inc., explored the property from 1982 through 1992, and drilled a total of 165 holes. Consolidated Ramrod Gold (USA), Inc. (?Ramrod?) acquired New Pass in 1993. In 1995, Santa Fe Pacific Gold Corp. completed 11 holes on the property under an exploration agreement with Ramrod. Ramrod was reorganized and renamed Quest USA Resources Inc. Quest sold New Pass to the Company in 1998. During 1998, the Company completed 1:6000 scale mapping, collected 250 rock chip samples, prepared geochemical overlays for all surface rock chip data, constructed 100-foot cross sections via an Interdex mining software program, and estimated geologic resources on the main jasperoid. Geology Substantial gold has previously been discovered on New Pass, greatly increasing the odds of new ore discoveries. In 1989, Westmont estimated an historic gold resource of 3,371,000 tons of material grading an average 0.042 oz/ton (using a 0.02 oz/ton cutoff) containing 142,000 ounces. This work was completed prior to implementation of National Instrument 43-101. These historic resource figures have not been redefined to conform to CIM approved standards, as defined by National Instrument 43-101. The resource estimates have been obtained from sources believed to be reliable and are relevant. The Company is attempting to verify them but until such time as they are verified, the historical estimates should not be relied upon. The known gold resource occurs in a jasperoid that outcrops at the surface and dips below cover at about 45 degrees to the west. The higher-grade portion of the jasperoid is at least 2900 feet long and averages 100 feet in width. The deepest intersection of gold mineralization (80 feet grading 0.013 oz/ton) is located 1500 feet down dip on the resource. Management believes the entire New Pass property to be quite prospective for gold. A total of 936 rock chip samples collected contain average grades of 204 ppb gold. A total of 35 of the higher grade rock chip samples average 0.07 oz/ton gold content. The higher grade gold samples come from either: 1) the main jasperoid; 2) Target Area 1 - along the range front fault and in road cuts near a pediment covered drill target northwest of the main jasperoid; or 3) along the contact between the impermeable Upper Augusta Mountain massive limestone and the permeable Lower Augusta Mountain silty limestone to the north of the main jasperoid. Anomalous mercury (greater than 10,000 ppb), arsenic (greater than 1000 ppm), and antimony (greater than 1000 ppm) rock chip samples are located in the same locations as the higher grade gold samples - either: 1) the main jasperoid; 2) Target Area 1 - along the range front fault and in road cuts near a pediment covered drill target northwest of the main jasperoid; or 3) along the contact between the impermeable Upper Augusta Mountain massive limestone. Anomalous pathfinder elements also occur in Target area 3 - west of the northern jasperoid, or along the northern jasperoid. Gold mineralization on the property is hosted in silty and carbonaceous limestones of the Triassic Lower Augusta Mountain Formation. This unit consists of thin to medium bedded, carbonaceous limestone with interbeds of platy, calcareous siltstone, fine-grained sandstone, and bioclastic turbidites. Impermeable, massive, cliff- forming limestones of the upper Augusta Mountain sequence cap these rocks. Opportunities for the discovery of large deposits of ore grade mineralization exist in three areas: 1) Target 1 - at the structural intersection to the northwest of the main jasperoid; 2) Target 2 - below the main jasperoid resource; and 3) Target 3 - west of the northern jasperoid. The Lower Augusta Mountain Formation is the targeted host in all target areas. The evidence for Target 1 includes surface gold and pathfinder element anomalies, structural projections, the presence of gold in the massive Upper Augusta Mountain Formation, and the absence of drill tests to the Lower Augusta Mountain Formation. The evidence for Target 2 is the presence of 0.01 to 0.06 grade gold mineralization in long intercepts in the silty limestones in virtually all holes which penetrate through the main jasperoid, and pathfinder element zoning below the main jasperoid. The evidence for Target 3 is the discovery of surface pathfinder and gold mineralization in decalcified silty limestones in the area west of the northern jasperoid. |
BVT President Jean Lafleur &VP of Exploration Richard Kern at New Pass Property 5.26.2008
Discussions of the 2008 Drilling Campaign Click image for full size.
Images from 43-101 Reports on New Pass Property
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