Vancouver, British Columbia – Bond Resources Inc. (CSE: BJB) (the “Company” or “Bond”) is pleased to announce that it has gained access to old workings that host a portion of the gold-bearing Mary K vein within the historical Mary K mine, near Elk City, Idaho. Initial chip sampling returned values up to 1.082 oz. per ton gold (37.09 g/t gold).
Bond has developed a 12-by-12 ft. (3.65-by-3.65 m) access tunnel that runs parallel to the historical Mary K #4 level workings. The tunnel intersected a historic crosscut that was developed by previous owner Richard Kleesattle in the 1930’s. This crosscut provided easy access to the old workings along the Mary K vein without blasting. Previous attempts to access the workings along the vein system failed due to very poor ground conditions.
“In this area of the old mine we found that the Mary K vein workings were fully timbered,” commented Joseph Carrabba, President and CEO of Bond Resources. “The back was entirely laced with half rounds. These are small 4-to-6-inch (10-to-15 cm) round trees that were cut length wise and placed along the back for support. Several gaps were found between those pieces of timber and vein material, mostly quartz, could be seen.”
After assessing the condition of the drift and timber it was decided that the safest way to proceed was to sample the vein between the gaps in the timber. Removing the timber in this section of the mine to get a more representative sample of the vein was too dangerous.
A total of five locations along the Mary K vein were available to sample between the timber sets as well as one area on the footwall just outside the timber. The samples were taken over a strike length of about 70 ft. (21 metres). Chip samples were taken along strike of the vein and ranged between 12-to-14 inches (30 to 36 cm) in length, and each weighed between 10-to-14 lb. (4.5 to 6.4 kg).
An old ore chute was identified along the vein system about 15 ft (4.5 m) to the west of the access crosscut. This ore chute went up into the historical Oscar stope situated above 4225 level. A grab sample was taken from the material that had fallen out of the ore chute. A single 4-by-2-inch (10-by-5 cm) piece was also taken from the rubble that showed at least six individual flecks of visible gold (not assayed).
|Sample #||Location||Type of Sample||Orientation||Grade oz/ton Gold||Grade g/t Gold|
|1||20 ft west of crosscut||Grab||NA||0.100||3.43|
|2||15 ft west of crosscut||Chip||Along Strike||0.266||9.12|
|3||15 ft west of crosscut||Chip||Along Strike||1.082||37.09|
|4||10 ft west of crosscut||Chip||Along Strike||0.030||1.03|
|5||At crosscut||Chip||Along Strike||0.028||0.96|
|6||At crosscut||Chip||Along Strike||0.034||1.17|
|7||Footwall at crosscut||Chip||Along Strike||0.134||4.59|
|8||49 ft east of crosscut||Grab||NA||0.205||7.03|
Bond has driven its access tunnel east of the historic raise and intends to develop its own 30 ft (9.1m), near-vertical raise through the Mary K vein. This process should be completed before the end of October. Once the vein is crossed by the raise, a sublevel will be driven eastward along the vein to commence bulk sampling.
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance
All sampling was conducted under the supervision of the Company's project geologists and the chain of custody from the mine to the sample preparation facility was continuously monitored. The samples were sent to the Winston Gold Mine on-site laboratory near Helena Montana. There they were crushed, and a 1 kg split was pulverized to 100% passing 150 mesh. The sample pulps were analyzed for gold using fire assay fusion and a 30 gram gravimetric finish.
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 Winston Gold Corp. 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.
Winston and Bond can be considered as non-arm's length companies, in that they share certain common directors, officers and shareholders.
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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