Bullion Monarch Mining (fka BULM)

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NEWS - Bullion Monarch Mining Inc. has now completed an exploratory drilling program on the Bom Jesus property in the traditionally mineral rich Para state of Brazil. The Dourave/Bullion Joint Venture LP completed 8 drill holes with a total of 2207.05 meters of diamond drilling on its Bom Jesus Project in northern Brazil and has now received all outstanding geochemical results.

The drilling tested coincident geochemical and geophysical anomalies, along with the down dip extension of shallow, high grade, parallel vein systems which returned bonanza grades with channel samples taken from shafts of 0.45m @ 83.45 g/t Au, 0.55m @ 34.49g/t Au, 0.80m @ 19.83 g/t Au, 0.30m @ 139.69 g/t Au, 1.55m @ 32.08 g/t Au & 0.60m @ 315.04 g/t Au.

All holes intersected pervasive hydrothermal alteration with associated disseminated sulphides indicating the presence of a large hydrothermally altered gold and polymetallic system. Previous drilling of similar targets on this property intersected grades of 11.44m @ 1.4g/t Au & 0.42% Zn associated with between 7-10% disseminated sulphides. High grade veins nearer the surface returned grades of 0.50m @19.20g/t Au and 1.21m @ 5.58 g/t Au.

Best results were encountered in holes FBJ-09, FBJ-11, FBJ-13, FBJ-15 and FBJ-16. The drilling program confirmed the presence of a large, hydrothermally altered system with zones of anomalous mineralization. The controls on this mineralization are currently being studied with a technical study of all mineralized zones and alteration types currently underway in the University Federal of Parana. This will allow us to understand the vectors of mineralization to better target those zones which are more likely to carry higher grades of gold and base-metals.

Because of the delays in receiving all geochemical results, analysis was not possible until the end of July. For purposes of quality, control these samples have been sent out to two different laboratories, INTERTEK and ACME laboratories. All diamond drill holes in the recent drilling campaign intersected alteration, indicating the Bom Jesus Project area is within a large alteration system that shows many similarities to the alteration zones in the periphery of the main mineralized structures at Magellan's 2 million oz. Cuiu Cuiu gold project.

All current data from Dourave/Bullion Joint Venture LP's Bom Jesus project is being evaluated to determine the direction of future exploration on the property. The diamond core drilling program to date consists of sixteen holes totaling 3,327 meters. Bullion Monarch Mining currently owns a one-third interest in the Bom Jesus Project. A drill result summary from the most recent 8 holes is included.

Source: http://www.marketwatch.com/story/bullion-monarch-mining-announces-drill-results-from-bom-jesus-property-in-brazil-2010-09-02?reflink=MW_news_stmp