Bullion Monarch Updates Exploration on Bom Jesus and Ouro Mil Properties
Posted on September 08, 2011 at 08:30 AM EDT
ST. GEORGE, Utah, Sept. 7, 2011 /PRNewswire/ -- Bullion Monarch Mining Inc. (OTCQB:BULM) announces favorable exploration results returned from their Bom Jesus gold property in the Tapajos region of Brazil. Sampling of Garimpeiro shafts near drill hole FBJ-08 has returned gold values of 0.50m @ 206.2 g/t Au and 0.70m @ 93.3 g/t Au.
These promising results occurred in a zone which is characterized by a broad Au (MMI) and basemetal (MMI) anomaly coincident with a magnetic low and high chargeability (IP) anomaly. The structure associated with mineralization can be traced for more than 2 kilometers in geophysical surveys. With highly anomalous gold grades returned from the regional stream sediment sampling program, a new, highly prospective corridor trending SW-NE has been defined at Bom Jesus. Geological mapping has highlighted the presence of multiple mineralized veins, volcanic dykes and stock-works with intense hydrothermal alteration.
Extension of current geochemical grids will continue to the southwest, targeting anomalous zones defined in the stream sediment sampling. A detailed airborne magnetic survey is planned for later in the year and drilling of targeted areas will follow.
Bullion Monarch Mining has several active exploration projects in the Tapajos region of Brazil. Spanning some 125,000 sq. km, Tapajos is the country's largest alluvial gold province, and the world's third-largest. Artisanal miners in the region have produced up to 30 million oz. of gold during the gold rush that began in the 1970's.
Bullion Monarch Mining's Ouro Mil property, which is also located in the Tapajos region of Brazil, has attracted the interest of several mining companies in the region. This property is currently under an exploration joint-venture contract with Brazilian Gold Corp., who has reconfirmed exploration plans for the property by making its annual payment to Bullion Monarch. Brazilian Gold's future exploration plans include drilling of identified targets, which should commence as drill rigs become available.
CEO and Chief Geologist R. Don Morris states, "Bullion Monarch Mining remains very encouraged with the progress of exploration programs on the Bom Jesus Project area. As the geological, geochemical, geophysical studies and preliminary drilling have developed; the existence of a large, hydrothermally altered, mineralized zone has become evident. An aggressive exploration program will continue at Bom Jesus in an effort to define a near surface resource in the short-term as well as potentially identify a massive new gold deposit."
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a publicly traded (OTCQB:BULM (FRA:BMJ)) gold-focused exploration royalty company with additional interests in oil-shale technology. The Company is engaged in a continual review of mining opportunities to create growth for shareholders. The majority of current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit the Company website at www.bullionmm.com for more information.
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SOURCE Bullion Monarch Mining Inc.
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