Vancouver, British Columbia – Bond Resources Inc. (CSE: BJB) (the “Company” or “Bond”) is pleased to announce that with the recent completion of the Mary K parallel access tunnel (refer to October 21st 2021 press release), it has commenced a first phase underground drill program that will consist of four holes totalling about 1,100 ft (335 metres) at its wholly-owned historic Mary K mine site near Elk City, Idaho.
“We are excited to commence this underground drilling campaign on the Mary K property,” stated Joseph A. Carrabba, President & CEO of Bond Resources. “The drill will further test the Mary K vein for continuity and grade below the main 4225 ft level and historic #5 level.”
Based on historical records, one of the most compelling targets was described by previous owner and mining engineer, Richard Kleesattle. The last workings, in the records, driven by Kleesattel in 1942 were to about 23 ft (7 meters) below the #4 level, near what he called “the apex of a very rich ore shoot”. He recorded assays ranging from 11 to 59 ounces per ton from these workings, which were developed but never actually mined.*
The first phase of the current drill program will focus on an area now referred to as the “Apex zone.” This zone is located primarily west of the historic winze Kleesattle used to access the #5 level. Kleesattle’s historical records also report that the west face of the #5 drift hosts “4 feet of Quartz…, and in the center is a streak of native gold (picture rock).”*
The underground drill station is situated within an old cross-cut on the 4225 level near a three compartment raise. Drilling will target the strike and down dip extent of any mineralization in the area as well as aid in the planning of a future internal decline that will begin once drill results are received and evaluated.
The historical Mary K mine was shut down in 1942 and never re-opened. Historical records indicate that only 2,000 tons of mineralized gold material was mined with an average reported grade of 0.65 ounces per ton.*
*While the company believes the historical sampling data referred to is reliable, readers are cautioned that a qualified person has not completed sufficient work to be able to verify the historical information and therefore the information should not be relied upon.
The scientific and technical content and interpretations contained in this news release have been reviewed, verified, and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Bond Resources Inc. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Bond Resources: Bond is a mineral resource company that holds the contractual rights to acquire the Mary K mine in the Elk City mining district of Idaho. The Company will focus on near-term production and rediscovery at the high-grade historic mine. Led by industry veterans and located in the mining friendly jurisdiction of Idaho, USA, Bond Resources combines the technical expertise of industry experts and a transparent communications model to increase shareholder value.
ON BEHALF OF THE BOARD
(sgd.) "Joseph A. Carrabba"
Joseph A. Carrabba, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936
Contact: Joseph Carrabba
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This news release does not constitute an offer of sale of any of the Company's securities in the United States. Our securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulations under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of our securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release may include certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: future work to be carried on the Property; use of funds; and the business and operations of Bond. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There is no assurance any of the forward-looking statements will be completed as described herein, or at all. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; operating and technical difficulties in connection with mineral exploration and development activities, lack of investor interest in financing; requirements for additional capital; future prices of gold and precious metals; changes in general economic conditions; accidents, delays or the failure to receive board, shareholder or regulatory approvals, including the required permits; results of current exploration and testing; changes in laws, regulations and policies affecting mining operations; and title disputes. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Bond Resources disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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