Bonanza grade results today, anyone notice this?
Was this known already?
Press Release Source: Bullion Monarch Mining Inc. On Thursday September 2, 2010, 10:00 am EDT
ST. GEORGE, UT--(Marketwire - 09/02/10) - Bullion Monarch Mining Inc. (OTC.BB:BULM - News) 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.
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a gold-focused royalty company with additional interests in oil-shale technology and other assets. Bullion Monarch seeks to acquire existing mineral royalties or to finance mining projects that are in production or in development stage in exchange for royalty interests or a participating interest. The Company is engaged in a continual review of opportunities to create new royalties or participating interests through the financing of mine development or exploration, or to acquire companies that hold royalties. The majority of current revenues are derived from a high-quality royalty claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch also has an interest in various mineral assets in North and South America in the exploration and development stages, which have the potential to generate future royalty or other revenues. Bullion Monarch Mining is also developing a process through its subsidiary, EnShale Inc. ("EnShale"), which it believes can extract the oil content from oil shale on a commercially reasonable and economically beneficial basis. Bullion Monarch Mining management's goal is to establish a self-funded natural resource company focused on exploring for and developing world class gold opportunities. The company internally funds the oil shale technology subsidiary, EnShale Energy, as well as ongoing gold exploration projects. Bullion Monarch benefits from its royalty stream, presently generating in excess of $5,000,000 annually, and is working to monetize the substantial oil-shale assets through EnShale Energy. Their royalty portfolio generates high-margin free cash flow with lower exposure to operating and capital costs than operating companies. Bullion Monarch's portfolio also provides for direct leverage to commodity prices and the exploration potential of world-class ore deposits and mineral exploration trends where we have existing royalty interests. Management believes that a diverse portfolio of royalty interests provides our shareholders with a higher risk-adjusted return through the commodity cycle than direct operating interests in mining properties. Visit the company website at www.bullionmm.com for more information.
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