Bonavista Resources discovers previously unidentified high-grade gold over significant widths in channel sampling at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland; 20.0 m at 9.34 g/t Au including 7.0 m of 19.75 g/t Au and 3.68% Cu

September 12, 2018

October, 2018

TORONTO, ON – Bonavista Resources Corp. (“Bonavista Resources” or the “Company”) is pleased to announce results from 52 linear meters of large volume (~HG core equivalent) channel sampling at the Hickey’s Pond Showing, Burin Gold Project, Newfoundland.

Channel sampling was carried out in follow up of historical surface sampling that returned up to 58 g/t Au. Bonavista aimed to connect known zones of high-grade mineralisation across covered areas between known gold-bearing outcrops. Continuous, sawed, large volume channel sampling was carried out to evaluate grade continuity of representative samples.

Five channel sampling were collected across the main Hickey’s Pond knob and returned high-grade gold over significant widths; 20.0 m at 9.34 g/t Au including 7.0 m of 19.75 g/t Au and 3.68% Cu (HP-CH-02).

HP-CH-02 intersected 7.0 m of Au-Cu breccia, grading 19.75 g/t Au and 3.68% Cu. High-grade Au-Cu breccia had been observed in small volumes by previous explorers; however, this newly uncovered intersect is the largest continuous body of Au-Cu mineralisation observed at the Hickey’s Pond Showing to date.

Table 1 displays the grade from channels HP-CH-01 to HP-CH-05.

 

Channel Length (m) Grade (g/t Au)
HP-CH-01 5.0 22.08
HP-CH-02

incl.

20.0

7.0

9.34

19.75

HP-CH-03

incl.

16.0

8.0

6.15

11.49

HP-CH-04 NSV (boulder)
HP-CH-05

incl.

7.4

5.0

3.02

4.59

 

High-grade gold over significant widths was discovered in 4 of 5 channel samples at the Hickey’s Pond Showing. The Company is excited about this newly discovered zone of continuous mineralisation and is constructing plans to drill test the down plunge continuation of the mineralised system.

 

 

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