Bonaparte

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Bonaparte Gold Property


Essential Info
Location: Approximately 50 km northwest of Kamloops, British Columbia
Access: Paved roads from Kamloops; well-maintained gravel roads to property
Area: 2,461 Hectares (6081 Acres)
Minerals: Gold in quartz diorite, copper, tellurium
Ownership: 100%
Status: Eight-hole drill program Sep 2018; follow-up field program planned for 2019

Bulk-tonnage, Porphyry Target with High Grades in Drilling, Trenching, Underground Exploration

First explored in the early 1980s, the Bonaparte Gold Property hosts a series of well-developed shear/fracture zones hosting near-surface quartz veins. The veins have produced high-grade intersections for gold in drilling, trenching and underground sampling. The zones average two-to-three meters in thickness and appear to be located 12 to 15 meters apart within a larger regional structure. Exploration to date indicates the zones are open to expansion in at least three directions, and a larger target zone, located east of the original Discovery Zone, was identified in the 2015 drill program.

2018 Drilling

In September 2018, an eight-hole drill program explored the target intended for a 2016-2017 bulk sample (which was not reached by decline) Results from this drilling are expected later in 2018.

New NI 43-101 Technical Report and Planned 2019 Program

Results of the 2018 program will inform a planned 2019 NI 43-101 Technical Report on Bonaparte and follow-up field program of exploration. The 2019 plan will also be based on historical results, including ground mag and IP survey interpretations.

The proposed 2019 program would test the various geophysical signatures from the historical surveys and also follow up on drill hole 2015-05 which intersected a new vein to the east of the Discovery Zone returning 7.88g/t Au and 38.4g/t Ag over 1.0m.

Exploration in 2015: Cooler Creek Zone

A seven-hole, 583.22 metre drill program was carried out in the fall of 2015. Highlights included discovery of a new vein, 450 metres east of the Crow/Grey Jay/Owl veins of the Discovery Zone. This new vein discovery from DDH-15-05 (see November 16 News Release) lies within an anomalous IP resistivity, chargeability and Au/Cu geochemical trend which extends 1.2 kms to the south-southeast and is open both northward and southward. The new zone, called the Cooler Creek Zone, will be the target of drilling planned for 2016.

Exploration in 2014: Discovery Zone Extended

The 2014 program further advanced and tested both the Discovery Zone and porphyry potential. The field program included mapping and prospecting, 3D IP and magnetic geophysical surveys and soil geochemistry.

The Volterra 3D IP and ground magnetic surveys substantially extended the strike length of the high-grade Discovery gold zone trend. The extent of the zone's chargeability and resistivity anomalies has now been traced 1.2 kms from the Discovery Zone to the south-southeast, and the zone remains open. Several parallel features of similar chargeability and resistivity signatures have also been identified. These discoveries provide a number of attractive drill targets for the next phase of exploration.

Southwest of the Discovery Zone, the 2013 surveys discovered a large magnetic anomaly comprised of extreme highs and lows with coincident IP chargeability responses under a younger basalt cap. These results suggested potential for a multi-phase intrusive. Additional Volterra 3D IP and magnetic surveys conducted in 2014 expanded this target zone a further 800 meters to the south. Several chargeability anomalies within this zone present drill targets for the 2015 exploration program.

Bulk Sampling

In 1994 a 3,700 metric ton bulk sample of mineralized vein material from surface trenching with an average grade of 25.4 g/t Au produced 3,160 ounces of gold. In 2009 a 3m X 3m decline was collared on the Raven vein and the underground development program was designed to evaluate the vein system at depth. A total of 161m of underground development was completed.

Diamond drilling beneath the bulk sample pits produced several high-grade intersections including:

Grade
(g Au/tonne)
Grade
(oz Au/ton)
Intercept
(Meters)
113.70 3.32 0.87
84.21 2.46 1.44
142.97 4.17 1.20
321.22 9.37 0.56
115.51 3.37 1.07
43.50 1.27 1.02
69.20 2.09 1.26

See the Technical Report for more information and detailed drill results.

One of the key goals of the next exploration program is to establish connectivity between the intersections as part of the property's first NI 43-101 resource calculation.

Second, Smaller Bulk Sample in 2010

In 2010 a small bulk sample from the Crow Vein was shipped to the Kinross Mill in Republic, Washington. The 364-ton sample assayed 16.3 g/t Au (0.475 oz/t Au), yielding 161.95 troy ounces of gold. The recovered gold sold for $145,783.