Bonanza drilling hits two zinc zones at Poirier

The property is about one mile southeast of a past-producing zinc- copper-silver mine. The current drill program tested the southeastern extension of the old mine horizon.

A total of 14 holes were completed on various geological and structural targets in the western half of the property. The objective of the work was to outline new zones of base metal mineralization in previously untested areas along strike from known zinc reserves.

Significant results reported from the recent holes include 8.6% zinc over 42 ft in hole 9, and 14.2% zinc over 20.3 ft in hole 11. Other significant intersections were 3.4% zinc over 8 ft in hole 8, 3.9% zinc over 8 ft in hole 7 and 5.3% zinc over 13.1 ft in hole 4.

Bonanza says the drill intersections define two new mineralized zones at relatively shallow depths.

More than 38,000 ft of EM borehole logging was performed in the first six holes yielding several off-hole geophysical targets.

Additional geophysical tests, including Pulse EM, were also performed. Final interpretation of the tests is under way and will provide new targets for the next phase of exploration.

The next phase of drilling will continue to evaluate the new discovery zones, while a second drill will be deployed to conduct deep drilling along yet untested horizons and geophysical anomalies.

The company has completed its re-assessment of proven and probable zinc reserves in the western part of the property and expects to release the figures from that work soon.

Bonanza’s joint venture partner is Forbex Resources (ME) which can earn a 50% interest in the property by contributing $3 million to the exploration program.

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