Posts in 2020

Bonavista Resources completes drill program at Hickey’s Pond and appoints Ms. Sherry Dunsworth as Technical Advisor

November 16, 2020 Posted by 2020 0 thoughts on “Bonavista Resources completes drill program at Hickey’s Pond and appoints Ms. Sherry Dunsworth as Technical Advisor”

November 16th, 2020

TORONTO, ON – Bonavista Resources Corp. (“Bonavista ” or “the Company”), a private mineral exploration company, is pleased to announce that six diamond drill holes, totalling 951 m, were completed between September and October 2020 on the Hickey’s Pond prospect in eastern Newfoundland.

The drill program’s objectives were to test the subsurface below the Hickey’s Pond showing for continuity of mineralisation to depth, as well as to test the chargeability anomaly delineated in the Company’s 2019 ground and airborne surveys. This anomaly is coincident with the surface expression of the Hickey’s Pond showing and extends along strike under the pond and beyond for a length greater than 5 km. A total of six diamond drillholes were completed along 750 m of strike length.

In February of 2020, Bonavista completed one diamond drill hole at Hickey’s Pond and intersected 10.19 m of 1.63 g/t Au in a quartz-alunite-specularite-pyrite schist. In the drilling just completed, similar alteration was intersected in all six drill holes. Additionally, two zones of quartz-pyrite mineralisation were intersected downhole in HP-20-002 and HP-20-005, both spatially correlated with the Hickey’s Pond massive-quartz alteration zone that yielded results of 20.0 m of 9.34 g/t Au in the Company’s 2018 channel sampling program. A plan map of the collar locations and horizontal drill traces will be placed on Bonavista’s website.

Observations of the relationship between pyrite and epithermal alteration in drill core supports the hypothesis that the chargeability anomaly is related to epithermal alteration and outlines the potential overall size of the system to be explored at over 5 km of strike length at Hickey’s Pond. Assay results for the program are pending. Analytical laboratories are currently experiencing large backlogs; at current turnaround times the Company expects the last assay results to be received in mid to late December.

The Company is also pleased to announce that Ms. Sherry Dunsworth, MSc, PGeo, has accepted the role of Technical Advisor. Ms. Dunsworth is a structural geologist with over four decades of experience in the mining industry. In her last post as Senior VP of Exploration for Marathon Gold Corp., Sherry led an exploration team that brought the Valentine Lake project from discovery through to resources and reserves. She has extensive experience with both Newfoundland’s rocks and its regulatory and governmental framework and will bring a wealth of geological and operational knowledge to Bonavista’s technical team.

David Clark, President of the Company, comments: “I am excited that Sherry has accepted our invitation to join the team, following a visit to the property to see outcrop and core drilled to date. With Sherry as Technical Advisor and Phill Walford as Chair, Bonavista is lucky to have onboard two of the key people responsible for the success of Marathon Gold’s Valentine Lake project in central Newfoundland. It is very gratifying that they have chosen Bonavista Resources as their next project to work on and is a strong show of support for the Company and the project’s potential.”

Qualified Person

David Clark, MSc, PGeo, President of 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”). He has prepared the technical content of this news release.

Acknowledgement

The Company acknowledges the financial assistance of the Mineral Development Division, Department of Natural Resources of Newfoundland & Labrador, via its Junior Exploration Assistance Program. The program provides valuable financial rebates on exploration expenditures made in the province to qualifying exploration companies. The Company has benefited from the program yearly since 2018.

About Bonavista Resources

Bonavista is a private exploration company focused on exploring a large landholding in the underexplored Avalonian terrane on the Burin Peninsula, Newfoundland. This underexplored belt has direct analogues at Hope Brook in southwest Newfoundland (First Mining Gold) and Haile in South Carolina (OceanaGold), both multi million-ounce resources hosted in the same geological terrane as the Burin peninsula rocks. Limited historical exploration by previous explorers combined with comprehensive documentation of the overall alteration system by government and academic workers creates a compelling opportunity for the discovery of Newfoundland’s next multi million-ounce gold system. The Company’s Burin Gold Project hosts several historical high-sulphidation gold showings over ~20 km of prospective geology, the best known of which is the Hickey’s Pond showing.

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

David Clark, MSc, PGeo, President

dclark@bonavistaresources.com

Bonavista Resources commences 1,000 m core drilling program at Hickey’s Pond, Burin Gold Project, Newfoundland

September 9, 2020 Posted by 2020 0 thoughts on “Bonavista Resources commences 1,000 m core drilling program at Hickey’s Pond, Burin Gold Project, Newfoundland”

September 9, 2020

TORONTO, ON – Bonavista Resources Corp. (“Bonavista ” or the “Company”), a private mineral exploration company, is pleased to announce that drilling is underway on a 1,000 m core drilling campaign at the Hickey’s Pond prospect, part of the Company’s Burin Gold Project  in eastern Newfoundland.

In 2018, Bonavista acquired a large land package on the Burin Peninsula and began systematic work to assess the regional potential of the land package as well as targeted exploration on underexplored historical showings. The Company currently holds approximately 16,000 hectares of claims either wholly or through an option agreement with Newfoundland prospectors. The land package includes all the historical showings on the Hickey’s Pond trend and covers over 20 km of strike length along a documented but largely unexplored district.

The objective of the drill program is to demonstrate the potential of the Hickey’s Pond alteration system to host significant gold resources. Initially, the program will focus on targeting the down-plunge projection of the surface showing at Hickey’s Pond, where the Company’s channel sampling program in 2018 returned 20.0 m at 9.34 g/t Au, including 7.0 m of 19.75 g/t Au and 3.68% Cu in vuggy residual quartz and high-grade Au-Cu breccia.

Bonavista has extended the geophysical signature of the Hickey’s Pond alteration zone over 7 km along strike. This inaugural drill campaign will feature six to eight drill holes, targeting geological and geophysical features along over 3 km of strike on either side of the historical showing.

Drilling is expected to be completed by early October, with assay results anticipated in early November. Success in demonstrating favourable alteration and mineralisation in this drilling campaign will lead to an immediate IPO/RTO transaction, planned for H1/2021. A larger 5,000 m drill program is planned to follow the IPO/RTO transaction to test both the strike extent of Hickey’s Pond and Bonavista’s pipeline regional targets.

Qualified Person

David Clark, MSc, PGeo, President of 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”). He has prepared the technical content of this news release.

Acknowledgement

The Company acknowledges the financial assistance of the Mineral Development Division, Department of Natural Resources of Newfoundland & Labrador, via its Junior Exploration Assistance Program. The program provides valuable financial rebates on exploration expenditures made in the province to qualifying exploration companies. The Company has benefited from the program yearly since 2018.

About Bonavista Resources

Bonavista is a private exploration company focused on exploring a large landholding in the underexplored Avalonian terrane on the Burin Peninsula, Newfoundland. This underexplored belt has direct analogues at Hope Brook in southwest Newfoundland (First Mining Gold) and Haile in South Carolina (OceanaGold), both multi million-ounce resources hosted in the same geological terrane as the Burin peninsula rocks. Limited historical exploration by previous explorers combined with comprehensive documentation of the overall alteration system by government and academic workers creates a compelling opportunity for the discovery of Newfoundland’s next multi million-ounce gold system. The Company’s Burin Gold Project hosts several historical high-sulphidation gold showings over ~20 km of prospective geology, the best known of which is the Hickey’s Pond showing.

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

David Clark, MSc, PGeo, President

dclark@bonavistaresources.com

Bonavista Resources intersects 0.68 g/t Au over 52 m, including 10.19 m at 1.63 g/t Au and 4.64 m of 1.5 g/t Au in a proof of concept diamond drill program at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland

March 18, 2020 Posted by 2020 0 thoughts on “Bonavista Resources intersects 0.68 g/t Au over 52 m, including 10.19 m at 1.63 g/t Au and 4.64 m of 1.5 g/t Au in a proof of concept diamond drill program at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland”

ONTARIO, ON – Bonavista Resources Corp. (“Bonavista Resources” or the “Company”) is pleased to announce core drilling results from high-sulphidation gold Burin Gold Project in the Burin Peninsula, Newfoundland.

One proof of concept core hole (HP-20-001) confirms the presence of potentially economic high-sulphidation epithermal mineralisation at depth below Hickey’s Pond, similar in grade to much of the outlying parts of the Hope Brook deposit.

An overall mineralised interval of 52.0 m of 0.68 g/t Au was intersected from 16.0 m to 68.0 m. This interval included 8.64 m of 1.77 g/t Au from 17.36 m, inc. 4.0 and 4.1 g/t Au, and 4.64 m of 1.50 g/t Au from 49.36 m. The highest gold concentrations were associated with a zone of quartz-hematite breccia (20.12 – 27.00 m), although grades > 1 g/t Au were also noted in the quartz-hematite-alunite schist, as well in the massive quartz and the quartz-alunite-pyrite units.

In follow up of our successful initial drilling campaign, further drilling is planned for late 2020 to comprehensively test the mineralized system at Hickey’s Pond.

A summary table of results for selected elements is given in Table 1.

Table 1: HP-20-01 assay results, selected elements

Sample From To Interval Au

ppm

Ag

ppm

As

ppm

Bi

ppm

S

%

Sb

ppm

Se

ppm

Te

ppm

B0172553 7.80 9.00 1.20 0.025 0.02 4.3 1.07 0.72 1.91 1 0.32
B0172554 9.00 10.00 1.00 0.025 0.04 5.9 0.99 1.04 1.76 2 2.28
B0172555 10.00 11.00 1.00 0.025 0.11 8.5 1.55 0.80 2.75 4 5.02
B0172556 11.00 12.00 1.00 0.050 0.09 6.0 1.34 0.87 2.29 3 1.96
B0172557 12.00 13.00 1.00 0.130 0.14 7.1 2.10 1.62 2.86 8 3.50
B0172558 13.00 14.00 1.00 0.025 0.05 5.7 1.55 1.33 2.56 5 1.97
B0172559 14.00 15.00 1.00 0.025 0.12 7.7 2.34 1.42 2.85 11 6.02
B0172560 15.00 16.00 1.00 0.025 0.22 10.5 2.72 1.90 3.10 14 7.05
B0172561 16.00 17.36 1.36 0.220 0.62 23.7 15.40 2.22 5.63 21 16.10
B0172562 17.36 18.00 0.64 1.640 0.78 13.4 75.90 2.24 11.20 33 40.60
B0172563 18.00 18.90 0.90 1.200 0.43 28.3 91.60 3.06 11.65 26 53.60
B0172564 18.90 20.00 1.10 0.350 0.23 7.2 66.50 3.59 6.80 21 31.40
B0172565 20.00 21.00 1.00 1.190 1.80 37.0 67.90 4.14 14.85 72 45.00
B0172566 21.00 22.00 1.00 0.940 0.37 9.1 32.30 3.81 7.56 15 21.80
B0172567 22.00 23.00 1.00 1.270 0.74 33.5 397.00 2.58 18.15 51 137.00
B0172569 23.00 24.00 1.00 4.140 0.47 21.0 1535.00 2.62 27.50 34 438.00
B0172570 24.00 25.00 1.00 1.200 0.98 8.6 91.80 3.04 13.55 12 35.90
B0172571 25.00 26.00 1.00 4.020 1.21 28.6 76.80 1.80 29.90 32 43.70
B0172572 26.00 27.55 1.55 0.860 2.76 14.8 35.30 3.14 13.65 27 15.40
B0172573 27.55 28.50 0.95 0.470 0.85 5.7 12.60 4.78 10.20 5 6.71
B0172574 28.50 30.00 1.50 0.210 0.86 6.7 8.94 4.35 11.95 6 8.71
B0172575 30.00 31.00 1.00 0.410 1.23 6.7 9.08 4.54 9.08 24 8.05
B0172576 31.00 32.00 1.00 0.340 1.49 7.4 9.91 5.17 11.05 34 8.14
B0172577 32.00 33.00 1.00 0.430 1.16 27.4 9.15 8.45 14.50 59 31.10
B0172578 33.00 33.72 0.72 0.390 0.88 14.0 6.51 5.98 10.15 30 19.20
B0172580 33.72 35.00 1.28 0.350 4.16 36.0 23.90 6.14 8.77 89 12.65
B0172581 35.00 36.00 1.00 0.220 0.54 25.5 3.15 5.66 6.65 27 8.76
B0172582 36.00 36.70 0.70 0.140 0.56 15.1 3.65 3.59 5.42 38 3.27
B0172583 36.70 37.68 0.98 0.150 0.69 10.8 4.14 4.46 5.85 23 4.04
B0172584 37.68 39.00 1.32 0.270 1.54 14.7 5.85 4.58 5.48 45 7.05
B0172585 39.00 40.50 1.50 0.280 0.99 13.7 4.37 4.91 5.67 25 8.20
B0172586 40.50 41.73 1.23 0.370 0.43 21.8 3.70 8.11 5.63 47 14.10
B0172587 41.73 43.00 1.27 0.340 0.56 7.1 3.78 2.18 4.39 20 6.15
B0172588 43.00 44.00 1.00 0.210 0.78 8.7 8.31 5.75 3.76 31 8.44
B0172590 44.00 45.00 1.00 0.190 0.59 7.8 11.80 3.24 3.52 38 8.53
B0172591 45.00 46.00 1.00 0.220 0.90 10.8 6.01 5.67 5.15 58 8.87
B0172593 46.00 47.00 1.00 0.600 1.56 16.9 4.94 3.39 6.18 82 11.10
B0172594 47.00 48.00 1.00 0.240 0.66 17.1 6.28 10.00 5.52 29 10.15
B0172595 48.00 49.36 1.36 0.520 0.51 16.6 15.60 9.29 5.24 21 11.85
B0172596 49.36 50.00 0.64 1.190 1.07 3.8 17.85 5.16 4.48 4 9.15
B0172597 50.00 51.00 1.00 0.940 1.53 4.1 20.60 5.07 5.24 3 6.12
B0172598 51.00 52.00 1.00 1.330 3.76 6.5 29.70 5.82 10.65 5 12.85
B0172599 52.00 53.00 1.00 2.250 6.71 5.4 149.50 4.63 17.85 12 42.40
B0172600 53.00 54.00 1.00 1.690 1.07 8.3 185.50 8.34 6.93 46 25.10
B0172601 54.00 55.00 1.00 0.750 0.56 13.0 20.50 8.58 7.81 35 14.45
B0172602 55.00 56.00 1.00 0.820 0.47 15.2 15.50 10.00 5.87 33 17.60
B0172604 56.00 57.00 1.00 0.460 0.24 9.6 11.65 10.00 3.67 13 7.52
B0172605 57.00 58.00 1.00 0.450 1.88 5.0 80.50 7.65 6.07 23 20.00
B0172606 58.00 59.37 1.37 0.310 0.53 3.6 26.50 5.76 3.28 34 9.25
B0172607 59.37 60.00 0.63 0.180 0.54 3.0 7.40 3.33 4.20 1 3.43
B0172608 60.00 61.00 1.00 0.150 0.29 3.0 5.46 1.68 3.70 10 3.02
B0172609 61.00 62.00 1.00 0.140 0.45 7.1 52.20 5.17 6.47 24 21.00
B0172610 62.00 63.00 1.00 0.170 0.65 2.7 16.65 4.65 5.01 10 5.09
B0172611 63.00 64.00 1.00 0.410 0.49 7.7 74.60 4.75 12.05 8 37.90
B0172612 64.00 65.00 1.00 0.220 0.48 12.5 18.30 3.70 14.15 6 38.60
B0172613 65.00 66.00 1.00 0.210 1.19 8.3 9.45 1.85 12.15 5 19.25
B0172614 66.00 67.32 1.32 0.180 0.63 8.2 3.22 3.91 11.75 7 14.55
B0172615 67.32 68.00 0.68 0.240 0.29 11.5 1.34 1.08 8.48 102 17.25
B0172617 68.00 69.00 1.00 0.120 0.29 5.8 3.59 2.84 3.04 54 6.12
B0172618 69.00 70.00 1.00 0.025 0.14 4.8 1.66 3.57 2.69 29 5.35
B0172619 70.00 71.00 1.00 0.150 0.33 6.2 3.97 4.97 5.47 31 8.85
B0172620 71.00 72.00 1.00 0.200 0.59 7.0 5.66 2.59 6.56 34 16.40
B0172621 72.00 73.00 1.00 0.025 0.25 6.5 1.76 0.98 5.43 8 3.23
B0172622 73.00 74.00 1.00 0.025 0.56 7.7 0.68 2.47 4.87 5 6.56
B0172623 74.00 75.00 1.00 0.370 0.48 5.7 5.98 2.69 6.83 22 24.90

 

David Clark, MSc., P.Geo., President, Bonavista Resources, is the Company’s designated Qualified Person for this news release 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 in the release is accurate. Samples were delivered to Air Canada Cargo in St John’s by Bonavista personnel and air freighted to Vancouver. Samples were picked up by Bonavista personnel and delivered to ALS Geochemistry in North Vancouver. QA/QC for all drill samples consists of the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. All samples were crushed to 90% passing a 2 mm mesh. From here, two separate sampling processes were followed, one for gold assay and one for multi-element geochemistry. For the former, a metallic screen assay was completed: 1000 g was pulverised to 85% passing 75 μm, and the entire aliquot was dry screened, with the minus fraction assayed with duplicate 50 g fire assays, and the entire plus fraction fire assayed. For the latter, 250 g of crush material was pulverised to 85% passing 75 μm, and a 0.5 g aliquot was dissolved in a four-acid digestion and analysed for multi-element geochemistry by ICP-MS.

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