Bonaventure Intersects Additional Mineralization and Increases Size of Gold-Silver System at the New Pass Property (Nevada)
Tuesday January 6, 4:05 pm ET
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RENO, NEVADA--(MARKET WIRE)--Jan 6, 2009 -- BONAVENTURE ENTERPRISES INC. (CDNX:BVT.V - News)(Frankfurt:YQG.F - News) (the "Company" or "Bonaventure") is pleased to announce that assay results have been received for the 25 hole/12,220 feet (3,935 meters) 2008 drilling program at the Company's New Pass Property located 27 miles (43 kilometers) west of Austin, central Nevada. The program included 3 diamond drill core holes and 22 Reverse Circulation ("RC") drill holes.
Drilling continues to expand the size of the known gold-silver mineralization to the west, now extending more than 4,500 feet (1,450 meters) as compared to the 3,000 feet (965 meters) reported in the National Instrument 43-101 Technical Report (the "2006 Technical Report") dated October 18, 2006, titled "NI 43-101 Technical Report on the New Pass Property, Churchill County, Nevada" by P. A. Pelke, P. Geo., and S. S. Arentz, P. Eng., that included Mineral Resource estimates (refer to the Bonaventure website at www.bonaventure.us or under the Company filings at www.sedar.com for a copy of the report). Of note, the 2006 Technical Report outlined Inferred Mineral Resources of 11.5 million tons (10.45 million tonnes) averaging 0.023 oz/ton (0.79 g/t) gold and 0.221 oz/ton (7.58 g/t) silver (or 0.026 oz/ton (0.89 g/t) gold equivalent) for a gold equivalent estimate of 300,000 ounces.
Highlights of the 2008 drilling include:
- NP-0813 which intersected 160 feet (50 m) averaging 0.053 oz/ton (1.82 g/t) gold and 0.17 oz/ton (5.83 g/t) silver on Section 1200 North;
- NP-0817, 0822 and 0827 expanded the mineralization in the northwest portion, with NP-0817 intersecting 75 feet (25 m) averaging 0.048 oz/ton (1.64 g/t) gold and 0.11 oz/ton (3.77 g/t) silver;
- NP-0822 contained a total of 95 feet (30 m) of material averaging over 0.01 oz/ton (0.34 g/t) gold; and
- NP-0827 contained 170 feet (55 m) of mineralization including 58 feet averaging 0.042 oz/ton (1.44 g/t) gold and 0.40 oz/ton (13.71 g/t) silver and 20 feet (6.5 m) averaging 0.032 oz/ton (1.10 g/t) gold and 5.05 oz/ton (173.11 g/t) silver.
Two of the three diamond drill core holes drilled gave a much better look at the structure associated with the bedded mineralized zone at New Pass:
- NP-0824C and 0825C indicate the bulk of the mineralization is hosted in sedimentary breccias formed by a prolonged weathering cycle and formation of karsts within limestones (calcium carbonates) which were later covered with Tertiary volcanics with the mineralization fed by high angle faults;
- NP-0827C tested such a structure discovered in 2007, with the interpreted feeder fault characterized by a pronounced increase in silver values, containing a 5 foot (1.6 m) intersection assaying 0.093 oz/ton (3.19 g/t) gold and 8.82 oz/ton (302.35 g/t) silver.
Online drill results from 2007 and 2008, as well as a 2008 drill plan, and other data can be found at bonaventure.us.
Mr. Richard (Dick) Kern, VP Exploration (Nevada) and Director of the Company, stated, "Our intention to greatly expand the drilling area over a 5 mile (8 kilometer) strike length was delayed due to the slow pace of the permitting approval process for the Company's Plan of Operation (the "POO") at New Pass. With the approval of the POO now expected in Q1-2009, the next drilling campaign to further identify and test feeder faults is planned for Q3-2009 along the full strike length of the favorable horizon. The target mineralization is lower grade, heap-leachable mineralized material."
Mr. Kern added, "In the meantime management is considering updating the 2006 Technical Report to include the 2007 and 2008 drilling results. Since both the 2007 and 2008 drill campaigns found gold-silver, there is a high probability that additional National Instrument 43-101 compliant Mineral resources will be outlined at New Pass."
About Bonaventure Enterprises
Bonaventure Enterprises Inc. (CDNX:BVT.V - News) is a mineral exploration company focused on developing a diversified portfolio of excellent uranium properties in Canada and promising gold properties in Nevada, with the goal of establishing National Instrument 43-101 compliant Mineral Resources in the near term.
The property portfolio consists of uranium and gold exploration assets. The Company has a 100% interest in the flagship K9 Uranium Property located in the James Bay region in Quebec, as well as other uranium assets located in the North Shore region of Quebec and in the Athabasca Basin in Saskatchewan.
The Company holds highly prospective gold exploration properties in Nevada with the potential to host Carlin-type gold deposits. The Company has an option agreement to acquire up to 60% interests in the New Pass Property located in Austin, Nevada and the Squaw Creek Property located on the northern extension of the Carlin Trend in northern Nevada. The Company also holds 100% interests in the Goldfields, Cottonwood, Jet and Northern Lights properties located in western and southern Nevada. The Squaw Creek Property and 2,140 acres (8.7 km2) New Pass property are under a joint venture with White Knight Gold (U.S.) Inc., a wholly owned subsidiary of U.S. Gold Corporation (Toronto:UXG.TO - News).
The information of a scientific or technical nature contained in this news release has been prepared and verified under the guidance of, and approved by, Richard (Dick) Kern, P. Geo., VP Exploration (Nevada) and a Director of Bonaventure, who is the Company's Qualified Person under National Instrument 43-101 standards. Bonaventure has in place a rigorous QA/QC program consistent with National Instrument 43-101 and using best industry practice. The ALS-Chemex Laboratory of Reno, Nevada is responsible for all of Bonaventure's assaying for its Nevada properties using the Atomic Absorption Method and includes the insertion of laboratory standards, blanks and duplicates.
On behalf of the Board of Directors
Jean Lafleur, P. Geo., President and CEO, Director
For further information on the Company, please visit our website at www.bonaventure.us. The Company's public documents may be accessed at www.sedar.com.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to possible mineralization of structures, expected permitting approvals, planned exploration programs, objectives and goals and the possible establishment of Mineral Resources. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the realized mineralization, the timing and success in obtaining permits and the timing and results of planned exploration programs.
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Contact:
Contacts:
Bonaventure Enterprises Inc.
Jean Lafleur, P. Geo.
President and CEO, Director
(604) 718-2800
(604) 718-2808 (FAX)
Website: bonaventure.us
Source: Bonaventure Enterprises Inc. |
