Posts in 2019

Bonavista assesses the regional potential of the Burin Gold Project and identifies several new exploration targets; an extensive VTEM+ and airborne-IP survey at the Burin Gold Project, Newfoundland

July 12, 2019 Posted by 2019 0 thoughts on “Bonavista assesses the regional potential of the Burin Gold Project and identifies several new exploration targets; an extensive VTEM+ and airborne-IP survey at the Burin Gold Project, Newfoundland”

July, 2019

TORONTO, ON – Bonavista Resources Corp. (“Bonavista Resources” or the “Company”) is pleased to announce results of an extensive VTEM+ and airborne-IP at its Burin Gold Project.

The survey consisted of 487 line-km of helicopter flight lines covered two block, a 3 km by 11 km block around Hickey’s Pond and smaller block covering the Tower Showing. Hickey’s Pond is the current company focus; however, is only one showing within a large zone of recognized high-sulphidation alteration on the Burin Gold Project.

The Company retained Geotech Ltd, a Canadian geophysical survey company, to complete airborne geophysical survey. A electromagnetic (VTEM+) and magnetic surveys yield two datasets: 1) magnetic survey, a standard exploration tool to aid the interpretion of bedrock geology, faults, igneous dykes and intrusions; 2) electromagnetic surveys (VTEM+), a tool used for massive sulphide bodies and to a lesser extent disseminated sulphides. AIIP (airborne IP) was conducted on the electromagnetic data; AAIP is a calculated proxy for chargeability and could be used to compare to the ground based IP-resistivity survey conducted in February 2019.

The Company objective was to see whether similar features observable in the IP-resistivity ground survey could be observed further along strike, extending the overall length of the potential alteration system at Hickey’s Pond.

A similar chargeability response was observed in both the airborne survey and the ground-based geophysical surveys. Over 5 km of strike length of favourable geology and chargeability were identified in the vicinity and to the northeast of the Hickey’s Pond Showing, as well as new chargeability targets. The magnetic data also show a host of details related to bedrock geology, structure, and dyke distribution useful for drill targeting.

David Clark, MSc., P.Geo., President, Bonavista Resources, is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained herein is accurate.

About Bonavista Resources

Bonavista Resources is company focused on exploring a large landholding in the underexplored Avalonian terrane on the Burin Peninsula, Newfoundland. This underexplored belt displays geological similarities to the past producing Hope Brook deposit (11.2 Mt at 4.54 g/t Au), limited historical exploration by previous explorers creates a compelling opportunity for the discovery of Newfoundland’s next multi million-ounce gold system. Our flagship project, the Burin Gold Project, hosts several historical high-sulphidation gold showings over ~10 km of prospective geology, the most notable of which is the Hickey’s Pond showing.

For more information, visit www.bonavistaresources.com or contact:

David Clark, MSc., P.Geo, President

dclark@bonavistaresources.com

Bonavista Resources identifies a large resistive and chargeable anomaly in the vicinity of the high-grade gold Hickey’s Pond Showing; detailed 3D IP-Resistivity survey at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland

February 12, 2019 Posted by 2019 0 thoughts on “Bonavista Resources identifies a large resistive and chargeable anomaly in the vicinity of the high-grade gold Hickey’s Pond Showing; detailed 3D IP-Resistivity survey at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland”

February, 2019

TORONTO, ON – Bonavista Resources Corp. (“Bonavista Resources” or the “Company”) is pleased to announce results of a detailed 3D IP-Resistivity at its Hickey’s Pond Showing, Burin Gold Project, Newfoundland.

The alteration geochemistry studies at Hickey’s Pond showed that the quartz-alunite schist that surrounds the mineralisation contains abundant disseminated pyrite, commonly 3-5% pyrite. The Company determined that a ground-based IP-resistivity survey over an area approximately 800 m by 3,000 m covering the Hickey’s Pond Showing would be a key tool to assess the extent of the alteration zone present beneath and along strike of the known mineralisation.

 

The Company retained DIAS Geophysical, a Canadian geophysical survey company, to complete a 3D ground-based IP-resistivity survey. This type of survey produces two main datasets: chargeability distribution, and resistivity distribution. Chargeability is useful to detecting the presence of minerals, such as pyrite, resistivity is useful to map bedrock geology, faults, and silica alteration.

The survey identified strong chargeable features with strong geological control beneath and along strike of the Hickey’s Pond Showing. This chargeable body is observed for >2000 m of strike beneath the Showing and is open to the northeast. An additional chargeability anomaly is observed in the SW portion of the survey, this highlights the potential for additional strike continuity to the southwest of Hickey’s Pond.

This 3D-IP anomaly observed close to surface (~50m) correlates with a large volume coincident high-chargeability, low-resistivity anomaly at depths of ~150 m, suggestive that the mineralised system extends to depths of >150 m.   

The Company is highly encouraged by the conclusions of the 3D-IP survey, highlighting the potential for along strike and depth continuity of the mineralized system observed at the high-grade gold Hickey’s Pond Showing.

David Clark, MSc., P.Geo., President, Bonavista Resources, is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained herein is accurate.

About Bonavista Resources

Bonavista Resources is company focused on exploring a large landholding in the underexplored Avalonian terrane on the Burin Peninsula, Newfoundland. This underexplored belt displays geological similarities to the past producing Hope Brook deposit (11.2 Mt at 4.54 g/t Au), limited historical exploration by previous explorers creates a compelling opportunity for the discovery of Newfoundland’s next multi million-ounce gold system. Our flagship project, the Burin Gold Project, hosts several historical high-sulphidation gold showings over ~10 km of prospective geology, the most notable of which is the Hickey’s Pond showing.

For more information, visit www.bonavistaresources.com or contact:

David Clark, MSc., P.Geo, President

dclark@bonavistaresources.com