NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – Bond Resources Inc. (CSE: BJB) (the “Company” or “Bond”) is pleased to announce that the Company and Winston Gold Corp. ("Winston") (CSE: WGC) have plans to start an initial phase of exploration drilling on the Hard Cash joint venture Property located about three miles outside the town of Radersburg, MT.
The Hard Cash property is being acquired in a lease-to-own deal that is held within a 50/50 joint venture between Bond Resources and Winston Gold (refer to news release dated February 11, 2021). The property was mined pre-WWII on a small scale, producing only 1,032 ounces of gold from 1,007 tons of mineralized rock.
“The Hard Cash Property has a number of geological similarities to Winston Gold’s nearby operation and provides both companies an excellent opportunity to test the near-term cash-flow viability of another past producer,” commented Joseph Carrabba, CEO and Director of Bond Resources. “The fact that the Hard Cash property is located just 4.3 miles from Winston's recently commissioned Paradine Mill makes this property even more appealing.”
A total of six holes, or 488 metres (1,600 ft), of drill core is planned to be drilled from two locations. Three holes will target the area beneath the historic workings of the Hard Cash vein system. The remaining three holes will test a portion of a newly identified subparallel vein structure. This new vein was identified via a surface chip sample that assayed 4.29 g/t gold (0.175 oz per ton gold).
Based on the initial due diligence work performed on the Hard Cash Property, the Company believes that the project still hosts unmined gold mineralization. The goal of the initial drilling campaign will be to determine the extent and grade of gold mineralization on the Hard Cash Vein over an initial strike length of 61 metres (200 ft) and vertical depth extent of 41 metres (135 ft). In addition, the newly identified sub-parallel structure will also be tested over a strike length of 61 metres (200 ft), and to a vertical depth of 30 metres (100 ft).
Additional phases of drilling will be assessed after the Phase 1 drill program is complete.
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 Winston Gold Corp.: Winston is a junior mining company focused on advancing high-grade, low-cost mining opportunities into production. Towards that end, Winston has acquired the under-explored and under-exploited Winston Gold project near Helena, Montana.
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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