Bonaventure Issues Significant Drill Results From the New Pass Project, Nevada
BONAVENTURE ENTERPRISES INC. (TSX VENTURE: BVT)(FRANKFURT: YQG) is pleased to announce that it has received assay results for the 33 hole / 16,785 feet (5,117 m) 2007 Reverse Circulation (RC) drilling program at the New Pass Project located in Central Nevada, approximately 27 miles (43 km) west of Austin, Nevada. The New Pass Project is under option from U.S. Gold Corporation (TSX: UXG) whereby Bonaventure can earn a 60% direct property interest.
Bonaventure has discovered a mineralized fault well west of the known Mineral Resource at New Pass and extended the mineralized system west, north and east. In order to follow these extensions a Plan of Operation has been filed with the Bureau of Land Management (BLM) that will allow a much expanded 2008 drilling program. Results of the 2007 drill program appear below in table form, and a map showing the location of drilling to date and proposed holes for 2008 has been added to the Bonaventure website at www.bonaventure.us.
Drill hole NP-0701, in the far northwest corner of the drill grid, was drilled as an offset hole to NP-0607. NP-701 contained 10 feet (3.1 m) of 0.050 oz/ton (1.71 g/t) gold and 0.050 oz/ton (1.8 g/t) silver and an additional 40 feet (12.2 m) of 0.029 oz/ton (0.99 g/t) gold and 0.850 oz/ton (29.0 g/t) silver below. NP-607 contained 15 feet (5.3 m) of 0.013 oz/ton (0.45 g/t) gold and 0.10 oz/ton (3.4 g/t) silver and an additional 75 feet (22.9 m) of 0.029 oz/ton (0.99 g/t) gold and 0.990 oz/ton (33.9 g/t) silver below. Both holes lost circulation and had no significant drill cuttings recovery below the lower intercepts. A few pieces of silicified breccia were recovered indicating the presence of a major fault zone. The fault zone defined by these two holes will be drill tested using a core rig this year. Other holes drilled between NP-0701/0607 and the known Mineral Resource indicate continuous mineralization for at least 500 feet (152 m) to the west, and a potential to significantly expand the Mineral Resource on its western side. The 2008 program will test along the western margin of the Mineral Resource and to the north an additional 1,200 feet (366 m).
Drilling along the east side of the Mineral Resource also produced encouraging results including those in NP-0703, 710, 713, 722, 723 and 731 (refer to table below and map on website). Of particular note is NP-0722, which contained 185 feet (56.4 m) of 0.027 oz/ton (0.93 g/t) gold and 0.250 oz/ton (8.4 g/t) silver including 5 feet (1.5 m) of 0.295 oz/ton (10.10 g/t) gold and 0.560 oz/ton (19.2 g/t) silver. The high gold value may indicate the presence of a feeder fault. Several holes are planned for the east side of the Mineral Resource, especially toward its northern end which has little previous drilling.
In-fill drilling was also done in 2007 to fill major internal gaps within the Mineral Resource. Good examples are holes NP-0708, 709, 710 and 727. As shown in the table, these holes contained 20 feet to 90 feet (6 m to 27 m) thicknesses of gold/silver mineralization. More internal holes are planned.
Bonaventure’s independent consultants, P. A. Pelke, P. Geo., and S. S. Arentz, P. Eng., completed a National Instrument 43-101 Technical Report dated October 18, 2006, entitled "NI 43-101 Technical Report on the New Pass Property, Churchill County, Nevada" that included Mineral Resource estimates. The technical report outlines Inferred Mineral Resource of 11,500,000 short tons averaging 0.023 oz/ton gold and 0.221 oz/ton silver or 0.026 oz/ton gold equivalent. This represents a gold equivalent estimate of approximately 300,000 ounces. The Mineral Resource are still open in all directions, and no new Mineral Resource calculations are planned until the 2008 exploration program is completed.
Bonaventure has in place a rigorous QA/QC program consistent with National Instrument 43-101 standards and using best industry practice. ALS Laboratory Group of Reno, Nevada, is responsible for all of Bonaventure’s assaying in Nevada. The technical information in this news release has been prepared under the guidance of geologist Mr. Richard Kern, P. Geo., Vice-President Exploration of Bonaventure, who is designated as the Qualified Person under NI 43-101 standards.
About Bonaventure Enterprises
Bonaventure Enterprises Inc. is a Canadian based resource and exploration company traded publicly under the symbol BVT on the TSX Venture Exchange and YQG on the Frankfurt Stock Exchange. In Nevada, the Company holds 100% of the mineral exploration properties including Goldfield, Cottonwood, Jet and Northern Lights. The Company also has an option agreement with U.S. Gold Corporation (TSX: UXG) to acquire up to 60% interest in the New Pass (Eureka) and Squaw Creek (Carlin Trend) Properties. Bonaventure also has uranium, poly-metallic and diamond assets in the Athabasca Basin, uranium properties in the James Bay and North Shore regions of Quebec. Bonaventure is focused on the creation of shareholder value and building a first-tier company through the acquisition and development of large projects demonstrating the ability to host World-Class mineral deposits.
Please visit the Bonaventure Enterprises Inc.’s website at www.bonaventure.us.
ON BEHALF OF THE BOARD
Jean Lafleur, P. Geo., President and CEO
This news release may contain forward-looking statements reflecting the Company’s objectives, estimates, expectations and the impact of acquisitions on the Company’s financial performance. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from the Company’s projections or expectations.
Table of assay results from the 2007 Reverse Circulation drilling program at the New Pass Project. -------------------------------------------------------------------------- Azi- Total Inte- Sil- SECT- muth Dip Dep- rval Gold ver Sil- ION HOLE (deg- (deg- th From To ft (oz/ Gold (oz/ ver (feet) # rees) rees)(feet)(feet)(feet) (m) ton) (g/t) ton) (g/t) -------------------------------------------------------------------------- 400N NP-0719 70 -45 500 180 215 35 0.014 0.48 0.490 16.78 (12.5) -------------------------------------------------------------------------- 250 265 15 0.021 0.72 0.110 3.77 (5.3) -------------------------------------------------------------------------- NP-0720 70 -45 400 95 105 10 0.009 0.31 0.299 10.24 (3.6) -------------------------------------------------------------------------- NP-0721 70 -45 300 30 60 30 0.009 0.31 0.300 10.27 (9.1) -------------------------------------------------------------------------- 600N NP-0723 70 -45 600 50 130 80 0.014 0.48 0.432 14.79 (24.4) -------------------------------------------------------------------------- 800N NP-0722 250 -75 580 25 210 185 0.027 0.92 0.246 8.42 (56.4) -------------------------------------------------------------------------- Including 145 150 5 0.295 10.10 0.560 19.18 (1.5) -------------------------------------------------------------------------- 1000N NP-0739 70 -45 385 305 375 70 0.032 1.10 0.113 3.87 (21.3) -------------------------------------------------------------------------- NP-0740 70 -90 490 375 455 80 0.029 0.99 0.171 5.86 (24.4) -------------------------------------------------------------------------- 1100N NP-0737 70 -60 540 235 250 15 0.019 0.65 0.336 11.51 (5.3) -------------------------------------------------------------------------- 265 275 10 0.004 0.14 4.800 164.38 (3.6) -------------------------------------------------------------------------- 1300N NP-0742 70 -45 430 175 180 5 0.024 0.82 0.170 5.82 (1.5) -------------------------------------------------------------------------- 340 360 20 0.012 0.41 0.362 12.40 (6.1) -------------------------------------------------------------------------- NP-0743 70 -70 300 260 285 25 0.014 0.48 0.140 4.79 (7.6) -------------------------------------------------------------------------- 1500N NP-0735 70 -90 500 255 360 105 0.016 0.55 0.202 6.92 (32.0) -------------------------------------------------------------------------- 1700N NP-0718 70 -80 400 300 340 40 0.055 1.88 0.626 21.44 (12.2) -------------------------------------------------------------------------- 355 370 15 0.013 0.45 0.105 3.60 (5.3) -------------------------------------------------------------------------- 1800N NP-0732 70 -45 400 305 335 30 0.011 0.38 0.171 5.86 (9.1) -------------------------------------------------------------------------- NP-0733 70 -90 460 410 440 30 0.013 0.45 0.325 11.13 (9.1) -------------------------------------------------------------------------- 2000N NP-0717 70 -70 700 440 445 5 0.046 1.58 0.180 6.16 (1.5) -------------------------------------------------------------------------- 490 525 35 0.023 0.79 0.284 9.73 (12.5) -------------------------------------------------------------------------- NP-0729 70 -90 800 370 380 10 0.013 0.45 0.174 5.96 (3.6) -------------------------------------------------------------------------- 390 435 45 0.015 0.51 0.151 5.17 (13.7) -------------------------------------------------------------------------- 475 485 10 0.019 0.65 0.238 8.15 (3.6) -------------------------------------------------------------------------- NP-0731 70 -45 200 55 75 20 0.011 0.38 0.221 7.57 (6.1) -------------------------------------------------------------------------- 210 225 15 0.013 0.45 0.074 2.53 (5.3) -------------------------------------------------------------------------- 240 275 35 0.019 0.65 0.247 8.46 (12.1) -------------------------------------------------------------------------- 2200N NP-0714 70 -45 600 335 370 35 0.013 0.45 0.287 9.83 (12.5) -------------------------------------------------------------------------- 395 415 20 0.012 0.41 0.261 8.94 (6.1) -------------------------------------------------------------------------- 505 515 10 0.021 0.72 0.571 19.55 (3.6) -------------------------------------------------------------------------- NP-0715 70 70 600 350 390 40 0.018 0.62 0.268 9.18 (12.2) -------------------------------------------------------------------------- NP-0716 70 -45 500 255 370 115 0.037 1.27 0.224 7.67 (35.1) -------------------------------------------------------------------------- 415 430 15 0.095 3.25 0.376 12.88 (5.3) -------------------------------------------------------------------------- 2400N NP-0713 70 -45 300 95 125 30 0.014 0.48 0.332 11.37 (9.1) -------------------------------------------------------------------------- 170 205 35 0.010 0.34 0.364 12.47 (12.5) -------------------------------------------------------------------------- 2600N NP-0708 70 -45 500 310 320 10 0.012 0.41 0.041 1.40 (3.6) -------------------------------------------------------------------------- 350 380 30 0.012 0.41 0.702 24.04 (9.1) -------------------------------------------------------------------------- 440 450 10 0.014 0.48 0.181 6.20 (3.1) -------------------------------------------------------------------------- NP-0727 70 -90 700 570 590 20 0.014 0.48 0.334 11.44 (6.1) -------------------------------------------------------------------------- NP-0709 70 -45 400 185 265 80 0.027 0.92 0.042 1.44 (24.4) -------------------------------------------------------------------------- 300 310 10 0.010 0.34 0.028 0.96 (3.1) -------------------------------------------------------------------------- NP-0710 70 -45 300 145 170 25 0.072 2.47 0.054 1.85 (7.6) -------------------------------------------------------------------------- Including 155 160 5 0.235 8.05 0.080 2.74 (1.5) -------------------------------------------------------------------------- 3300N NP-0706 70 -90 600 230 240 10 0.011 0.38 0.028 0.96 (3.1) -------------------------------------------------------------------------- 315 320 5 0.030 1.03 less less (1.5) than than 0.01 0.5 -------------------------------------------------------------------------- 345 400 55 0.049 1.68 0.129 4.42 (16.8) -------------------------------------------------------------------------- 435 455 20 0.014 0.48 0.020 0.68 (6.1) -------------------------------------------------------------------------- 3400N NP-0704 70 -45 600 250 280 30 0.015 0.51 0.061 2.09 (9.1) -------------------------------------------------------------------------- 435 530 95 0.031 1.06 0.132 4.52 (29.0) -------------------------------------------------------------------------- 3500N NP-0705 70 -45 760 600 625 25 0.033 1.13 0.061 2.09 (7.6) -------------------------------------------------------------------------- NP-0703 70 -45 300 100 120 20 0.013 0.45 0.045 1.54 (6.1) -------------------------------------------------------------------------- 230 240 10 0.012 0.41 0.057 1.95 (3.1) -------------------------------------------------------------------------- 245 285 40 0.035 1.20 0.202 6.92 (12.2) -------------------------------------------------------------------------- 3600N NP-0701 70 -45 660 490 500 10 0.050 1.71 0.053 1.82 (3.1) -------------------------------------------------------------------------- 515 555 40 0.029 0.99 0.848 29.04 (12.2) -------------------------------------------------------------------------- NP-0702 70 -45 600 395 400 5 0.010 0.34 0.090 3.08 (1.5) -------------------------------------------------------------------------- 3700N NP-707 70 -45 780 NSV NSV -------------------------------------------------------------------------- Note: Intervals are true thickness except -65 to -70 degrees holes are 80% true thickness, -90 degrees holes are 70% true thickness; NSV equals no significant values; Hole numbers missing from sequence were not drilled.
See Bonaventure website (www.bonaventure.us) for surface map (which will be on-line soon) of the New Pass Project with drill hole locations from the 2007 drilling program.
The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Bonaventure Enterprises Inc. Jean Lafleur, P. Geo. (514) 975-3633 Email: jean@bonaventure.us Website: www.bonaventure.us First Canadian Capital Daniel Boase 1-866-580-8891 ParaDox Public Relations Carl Desjardins 1-866-460-0408 Email: infoparadox@qc.aira.com
SOURCE: Bonaventure Enterprises Inc.