Bond Resources Confirms Mary K Vein Structure and Discovers New Vein
Vancouver, October 22, 2020 - Bond Resources Inc. (CSE: BJB) (FSE: 5B1) (the "Company" or "Bond") is pleased to announce that it has completed a 17-hole drill program that was concentrated in the heart of the Mary K Mine's historic workings, near Elk City, Idaho. Results confirmed the continuity of the Mary K vein and its host structure over a strike length of 230 ft., (70 metres), and to vertical extent of 255 ft., (77 metres).
The recent drilling campaign indicates that the structure that hosts the Mary K vein ranges between 15 to 17 ft in true width, (4.6 to 5.2 metres), within the targeted area. This is significantly wider than any historic records have shown. Mineralization is not anticipated to be uniform across that distance, but this shows the potential of the system. Historical records indicate that the vein is at least 2,000 ft., (610 metres), long and varies in width from a few inches to over 6 ft., (1.8 metres).
"The Mary K Vein system represents a structurally bound, epithermal system," commented Joseph Carrabba, President & CEO of Bond. "These systems are often nuggety and not uniformly mineralized; however that being said, structural intersections have often been noted historically to contain bonanza type gold shoots. We therefore believe bulk sampling of the vein will be the best method to determine the overall grade in the vein."
Another exciting development was the discovery of a second gold bearing vein, located about 60 ft. (18.3 metres), above the north dipping Mary K Vein. This vein was cut by three shallow drill holes and visible gold was noted in hole MK9. That hole returned 3 ft., (0.91 metre), averaging 0.192 oz. per ton gold, (6.58 grams per tonne), including 1 ft., (0.30 metre), averaging 0.577 opt gold, (19.78 g/t gold). Two other holes intersected the vein but returned no significant assays. They did indicate that this newly discovered vein appears to be parallel both in strike and dip to the Mary K Vein. Geologic mapping and alignment of old workings suggest there are multiple parallel vein systems.
Drilling Details
The 17 holes were drilled from two drill pads situated north and in the hanging wall of the Mary K Vein structure. On drill Pad #1, a total of four drill holes were collared. Three of them were drilled through the structure, while the fourth was lost due to poor ground conditions.
On drill Pad #1.5, a total of 13 drill holes were collared. This drill pad was situated much closer to the surface exposure of the vein and several shallow targets were drilled above the main #4 level workings. Historical underground workings were intersected in four of the holes and Bond geologists used this information to re-calibrate the location of these workings with respect to the historic maps.
Highlights of drill intercepts from this drill program include:
| Drill Hole | From | To | Interval* | Gold | Silver | |||
| ft | ft | ft | m | opt | g/t | opt | g/t | |
| MK1 | 411 | 412 | 1 | 0.30 | -- | -- | 8.93 | 306.2 |
| MK6 | 99 | 100 | 1 | 0.30 | 0.142 | 4.87 | -- | -- |
| MK8 | 122 | 123 | 1 | 0.30 | 0.118 | 4.05 | -- | -- |
| MK10 | 167 | 174 | 7 | 2.13 | 0.165 | 5.66 | -- | -- |
| including | 172 | 174 | 2 | 0.61 | 0.514 | 17.62 | -- | -- |
| MK9 | 53.5 | 56.5 | 3 | 0.91 | 0.192 | 6.58 | -- | -- |
| including | 54.5 | 55.5 | 1 | 0.30 | 0.577 | 19.78 | -- | -- |
*All holes are believed to be true width.
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 drill 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, pulverized and the sample pulps digested and analyzed for gold using fire assay fusion and a 50 grams gravimetric finish. Any assay averaging more than 0.1 opt gold was sent to Bureau Veritas Minerals in Reno, Nevada or to Paragon Geochem in Sparks, Nevada for checks. Blank or certified reference materials were inserted randomly.
Qualified Person
The scientific and technical content and interpretations contained in this news release have been reviewed, verified, and approved by Dr. Criss Capps PhD. P.Geo., an independent consultant to Bond Resources Inc. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Bond Resources: Bond Resources 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.
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: Robert Eadie
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
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 a number of 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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