Bison Gold Resources Inc. Announces Maiden High Grade Mineral Resource Estimate on the Ogama-Rockland Gold Deposit
TORONTO, ONTARIO--(Marketwired - Nov 18, 2013) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) is pleased to announce the results of the Maiden Mineral Resource Estimate for the Ogama-Rockland Gold Deposit on its Central Manitoba Property located in southeastern Manitoba.
The Mineral Resource estimate has been prepared by Jamie Lavigne, P.Geo, a Senior Associate Geologist with Watts, Griffis and McOuat Limited ("WGM") and reported in accordance with National Instrument 43-101 requirements.
The estimate is classified as an inferred mineral resource and totals 1.28 million tonnes averaging 8.17 g/t Au for 337,000 ounces of contained gold at a cut-off grade of 2.50 g/t au. Table 1 shows the mineral resource at the 2.50 g/t cut-off grade and grades and tonnages at several other cut-off grades for comparison. The complete report will be filed on SEDAR and Bison Gold's website within 48 hours of this news release.
| TABLE 1. |
| ORD RESOURCE TABULATION |
| Cutoff Grade | Tonnes | Au | Au | |
| (g/t Au) | (Mt) | (g/t) | Ounces | |
| 0.5 | 3.23 | 3.99 | 415,000 | |
| 1 | 2.43 | 5.06 | 397,000 | |
| 2 | 1.51 | 7.25 | 354,000 | |
| 2.5 | 1.28 | 8.17 | 337,000 | |
| 3 | 1.09 | 9.11 | 319,000 | |
| 5 | 0.71 | 11.89 | 274,000 |
| Notes | 1. | CIM Definitions were followed for classification of Mineral Resources. |
| 2. | Mineral resources that are not mineral reserves do not have demonstrated economic viability. | |
| 3. | Mineral Resources are estimated at a cut-off grade of 2.5 g Au/t. | |
| 4. | Mineral Resources are estimated at a gold price of $1,500 and a metallurgical recovery of 95%. | |
| 5. | High grade assays are capped at 70 g Au/t. | |
| 6. | Bulk density of 2.71 t/m3 was used. | |
| 7. | Numbers may not add due to rounding. |
The Ogama Rockland Domain (ORD) is interpreted to consist of a number of relatively thin, steeply dipping, tabular bodies and is currently being evaluated by Bison Gold for its underground mining potential. A conventional approach to estimation was employed that included 3 dimensional interpretation and block modelling of mineralization using GEOVIA GEMS 6.4 software. The ORD portion of the database on which the estimate is based contains 77 diamond drill holes which total 27,874 metres and includes 15,965 samples.
The Mineral Resources are classified as Inferred and follow CIM Definition Standards for Mineral Resources and Mineral Reserves adopted on November 27, 2010 (CIM Definitions).
"This is a milestone achievement for Bison Gold and its flagship Property," stated Amir Mousavi, CEO of Bison Gold. "The Mineral Resource Estimate for the Ogama-Rockland Deposit is only the first stage in the development of the property, and demonstrates the high grade nature of its near surface gold mineralization. We look forward to advancing this resource and numerous other high priority targets."
Jamie Lavigne, P.Geo is the Qualified Person ("QP") under NI 43-101 for the Mineral Resource Estimate on the Ogama-Rockland Gold Deposit. All exploration activities for Bison Gold are under the supervision and guidance of Director David C. Benson, P.Geo, and a Qualified Person under NI 43-101. Mr. Benson has reviewed and approved 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 exploration with property assets in Manitoba, Canada. The flagship property, Central Manitoba, is historically the second largest gold producer in the prolific Rice Lake Greenstone Belt after San Gold Corp.'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.