Montreal, Quebec--(Newsfile Corp. - August 5, 2025) - Bullion Gold Resources Corp. (TSXV: BGD) ("Bullion Gold" or the "Company") and its partner Olympio Metals Limited are pleased to announce that further high-grade gold intersections have been returned from the remainder of hole BO-25-28, the second hole drilled at the maiden drill program at Paquin Prospect. Olympio Metals has an option to earn an 80% interest from Bullion Gold at the Bousquet Project in return for an investment of $2M in works and a payment in cash and shares of $1.25M over the next few years. Bullion Gold would then retain an undivided interest of 20% (net carried interest).
Highlights:
- Assays received for the remainder of the second hole drilled at the Paquin Prospect include further high-grade gold intersections such as:
- 1.5m @ 54.2 g/t Au (BO-25-28)
- This adds to the previously reported results from holes BO-25-27 and BO-25-28:
- 5.4m @ 7.6 g/t Au, including 2.9m @ 10.27 g/t Au (BO-25-27)
- 7.9m @ 6.2 g/t Au, including 1.3m @ 17.0 g/t Au (BO-25-28)
- The intercept of 1.5m @ 54.2 g/t Au from 235.5m represents a new mineralised lens separate to previously reported intercepts in BO-25-27 and BO-25-28
- Holes BO-25-27, BO-25-28 and historical hole BO-21-08 (9m @ 16.96g/t Au1) contiguous high-grade zone which remains open along strike to the west, and also open up-dip and down-dip
- Gold mineralisation at Paquin now extends >300 metres and further drilling of the high-grade western zone is planned
- The Paquin Prospect is part of the Bousquet Project located on the Cadillac Break in Quebec, Canada, a regional structure associated with world-class gold mineralisation (>110 Moz Au2)
- Situated within 15km of multi-million ounce working gold mines (Agnico Eagle's La Ronde - 15.8Moz Au3 and Iamgold's Westwood - 2.4Moz Au4)
Table 1 Downhole drill intervals from recent Paquin drilling at 1.0g/t Au cut-off
| Hole ID | From | To | Interval | Au (g/t) |
| BO-25-27 | 184.00 | 185.00 | 1.00 | 4.97 |
| 185.00 | 186.00 | 1.00 | 6.11 | |
| 186.5 | 187.00 | 0.50 | 2.02 | |
| 187.00 | 187.50 | 0.50 | 6.02 | |
| 187.50 | 187.85 | 0.35 | 42.30 | |
| 187.85 | 188.40 | 0.55 | 9.31 | |
| 188.40 | 189.40 | 1.00 | 5.84 | |
| aggregated | 184.00 | 189.40 | 5.40 | 7.61 |
| including | 186.50 | 189.40 | 2.90 | 10.27 |
| 219.00 | 219.55 | 0.55 | 5.75 | |
| BO-25-28 | 101.50 | 102.30 | 0.80 | 3.29 |
| 105.60 | 106.50 | 0.90 | 4.10 | |
| 125.40 | 126.60 | 1.20 | 3.18 | |
| 130.50 | 132.00 | 1.50 | 1.12 | |
| 138.00 | 139.00 | 1.00 | 8.61 | |
| 141.00 | 142.20 | 1.20 | 3.11 | |
| 142.20 | 143.50 | 1.30 | 17.00 | |
| 143.50 | 144.40 | 0.90 | 3.47 | |
| 144.40 | 145.90 | 1.50 | 7.46 | |
| aggregated | 138.00 | 145.90 | 7.90 | 6.20 |
| including | 141.00 | 145.90 | 4.90 | 8.19 |
| *Not previously reported | 196.30 | 197.80 | 1.50 | 1.30 |
| *Not previously reported | 235.50 | 237.00 | 1.50 | 54.20 |
The latest batch of assay results included a significant high-grade gold intercept of:
- 1.5m @ 54.2 g/t Au from 235.5m (BO-25-28).
This high-grade gold intercept in BO-25-28 adds further to the high-grade gold intercepts previously reported in holes BO-25-27 and BO-25-28 (Figures 1 & 2; see ASX announcement 28th July 2025).5
The first hole at Paquin (BO-25-27) intersected 5.4m @ 7.61 g/t Au from 184.0m, including an interval of 0.35m @ 42.3 g/t Au where visible gold was observed in the core (Photo 1, Photo 2, Figure 1).
The upper portion of the second drillhole (BO-25-28) successfully intersected a thick high-grade gold zone of 7.9m @ 6.20 g/t Au from 138m, including 1.3m @ 17 g/t Au. This high-grade interval is within a broader 45m mineralised envelope of quartz-carbonate veining and sulphide mineralisation which contains further gold intervals up to 4.10 g/t Au (Figure 1, Figure 2).
The new high-grade intercept in the lower portion of BO-25-28 represents a new mineralised gold zone (Figure 2), and is largely untested by existing drilling. It remains open up-dip, down dip and along strike to the west.
Olympio's Managing Director, Sean Delaney, commented:
"It is great to get a 54 g/t gold result near the end of hole BO-25-28 which gives us confidence about the potential at Paquin. The high-grade western zone at Paquin remains open, and we are planning further drilling with the aim of extending this high-grade mineralisation."
"Geophysical data and historical drilling suggest that the Paquin structure extends for over a kilometre to the west under shallow glacial cover. We look forward to drill testing this extensive target in the coming months."
To-date the Company has drilled 3 holes for 902m at Paquin (Table 2). The third hole, BO-25-29, was drilled 50m further west of BO-25-27 (Figure 1) and has been sampled with assays pending.
The multiple high-grade intervals defined in holes BO-25-27, BO-25-28 and historical hole BO-21-08 (9m @ 16.96g/t Au) form a contiguous high-grade zone which remains open along strike to the west, and also open up-dip and down-dip. Olympio is planning further drilling to test this highly prospective and under-explored zone.
Geophysical Data (VLF survey) and historical drilling suggests that the Paquin structure extends for > 1km to the west, and may expand to incorporate the Amadee Prospect (Figure 3). Olympio is looking forward to testing these interpreted structures which are below thin glacial cover and represent highly prospective targets.
Bullion Gold's CEO, Guy Morissette, commented:
"This new, very rich and deeper result represents the full potential of the Paquin zone, which to date has revealed several high-grade results containing visible gold in several locations. We are very pleased with the work accomplished by our partner, and we remain very confident for the future."
Amadee Drilling
Recent inspection of the outcrop at the Amadee Prospect by the Olympio exploration team revealed numerous smoky quartz veins that appeared very similar to the gold-bearing smoky quartz veining identified in the Paquin Prospect drill core.
Historical drilling suggests that both Paquin and Amadee occur on the same east-west trending structure that dips moderately to the north (~50o) however, Amadee is located closer to a conglomerate/wacke contact zone. At both prospects, gold mineralisation is associated with stacked and stockwork smoky quartz veins of varying density.
The Amadee Prospect was historically explored with 14 shallow drillholes in 1940, intersecting encouraging gold grades including 1.52m @ 6.8 g/t Au from 16.8m (PA-3) and 1.52m @ 5.6g/t Au from 44.9m (PA-1)6. Significantly deeper drilling in 19457 confirmed the Amadee gold mineralisation extends at depth however, the shallower zones of the prospect have not been drilled since 1940. Detailed mapping, rock chip sampling and channel sampling of Amadee Prospect in 19788 confirmed gold mineralisation up to 49.0 g/t Au (channel sampling). The Amadee mineralisation appears to extend over >200m strike and may represent a western extension of the Paquin mineralisation. Further drilling will be required to assess these aspects.
To date, Olympio has drilled 8 holes (898m) at Amadee (Figure 3, Table 2). Drilling has identified multiple zones of smoky quartz veining and associated sulphides from surface to 80m. Logging and sampling of Amadee holes is ongoing with first assay results expected in August.
Decoeur Extension Drilling
The Decoeur Extension Prospect is a large chargeability IP anomaly that is coincident with the interpreted North Bousquet Fault, an under-explored Archaean regional sub-province bounding structure (see previous ASX release 10th April 20259).
The target has been explored with one hole, BO-25-39 (183m), drilled to date (Figure 3). The hole intersected zones of smoky quartz-carbonate veining and associated sulphides adjacent to talc-carbonate schists similar to Pichè Group rocktypes. Pichè Group rock types are commonly associated with gold mineralisation along the regional Cadillac Break2 structure. The IP chargeability anomaly is not readily explained by current drilling and the target will be further reviewed on receipt of assays which are expected later this month.
Decoeur Drilling
The Decoeur Prospect represents a gold mineralised zone with >400m strike extent and associated with Pichè Group rock types along the Bousquet Fault (Figure 3). Historical drilling indicates there appears to be gold mineralisation in both the hanging wall and the footwall. Hole BO-25-40 (408m) targeted the footwall contact at depth, and intersected an extensive zone of stockwork smoky quartz veins with sulphides above a talc-chlorite schist on the interpreted footwall zone.
The hole has been logged and sampled with results due later this month.
Quality of assay data and laboratory tests
All samples were analysed for Au by 50g fire assay fusion (FA) with Atomic Absorption Spectroscopy (AAS) finish (202-551), and also 34 elements by 4-acid digest with ICP_OES finish (201-070). Samples with observed or suspected coarse gold as logged by the geologist were analysed by screen Fire assay (202-121). From the pulverised sample, a 1kg sub-sample was sieved to 106µm. The +106µm fraction was analysed to extinction by FA/ICP(OES) and the -106µm fraction by FA/ICP(OES).
AGAT protocols are considered by the Qualified Person to be consistent, in general, with industry standards.
One certified reference material (CRM) standard and one blank were included in each batch of 20 samples (inserted at 1/19 samples) by Explo-logik staff. CRM used were OREAS 221, 231, 236, 238, 242. The blank was quartz-sericite.
Qualified Person
Scientific and technical information in this release has been reviewed and approved by M. Gilles Laverdière, P.Geo., Director of the Company and a Qualified Person under NI 43-101 standards.
About Bullion Gold Resources
Bullion Gold Resources Corp. is a Québec-based mineral exploration company focused on discovering gold and polymetallic deposits. Through strategic partnerships and active exploration, the Company seeks to build sustainable value for shareholders.
Source:
Guy Morissette
President & CEO
gmorissette@bulliongold.ca
www.bulliongold.ca
Other Information
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Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to several factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2024 and the first quarter ended March 31, 2025, which are available on the Corporation's profile at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and Bullion Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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- https://api.investi.com.au/api/announcements/oly/0f7c0f12-5ad.pdf
- Poulsen, K., 2017 The Larder Lake-Cadillac Break and Its Gold Districts, Economic Geology, v. 19, pp. 133-167
- NI 43-101 Technical Report, LaRonde Complex, Québec, Canada, March 24 2023
- https://s202.q4cdn.com/468687163/files/doc_news/2024/02/iag-2024-mrmr-estimate.pdf Iamgold Reserves & Resources Dec 31 2023
- https://api.investi.com.au/api/announcements/oly/9993f010-116.pdf ASX Announcement 28 July 2025
- GM07020 Report on Drilling and Exploration Paquin Claims 1941
- Report and Drill Logs, Normar Gold Mines Ltd, 8 July 1945 GM07013A
- GM34572 REPORT (1978) ON THE GEOLOGY, GEOCHEMISTRY AND INDUCED POLARIZATION SURVEYS ON THE NOMAR PROPERTY
- ASX release 10th April 2025 Dufay Drilling Completed and Bousquet Targets Confirmed https://api.investi.com.au/api/announcements/oly/0f7c0f12-5ad.pdf
Table 2: Drill collar locations, Bousquet Project. Note that hole BO-23-30 was drilled in 2023.
| Hole ID | Prospect | Azimuth | Dip | Length | Easting | Northing | Elevation |
| BO-25-27 | Paquin | 188 | -55 | 350 | 676528 | 5343882 | 324 |
| BO-25-28 | Paquin | 205 | -45 | 252 | 676528 | 5343839 | 322 |
| BO-25-29 | Paquin | 195 | -55 | 300 | 676496 | 5343909 | 324 |
| BO-25-31 | Amadee | 220 | -45 | 87 | 676115 | 5343741 | 336 |
| BO-25-32 | Amadee | 230 | -45 | 102 | 676092 | 5343758 | 334 |
| BO-25-33 | Amadee | 210 | -45 | 101 | 676092 | 5343758 | 334 |
| BO-25-34 | Amadee | 210 | -45 | 102 | 676038 | 5343774 | 336 |
| BO-25-35 | Amadee | 230 | -45 | 102 | 676038 | 5343774 | 336 |
| BO-25-36 | Amadee | 220 | -45 | 90 | 676157 | 5343734 | 334 |
| BO-25-37 | Amadee | 220 | -45 | 212 | 676152 | 5343793 | 340 |
| BO-25-38 | Amadee | 230 | -45 | 102 | 676202 | 5343726 | 324 |
| BO-25-39 | Decoeur Ext. | 180 | -60 | 183 | 675423 | 5343350 | 308 |
| BO-25-40 | Decoeur | 220 | -55 | 408 | 675089 | 5343598 | 320 |
Table 3: Drill assays (Fire Assay) >0.3ppm AU (For drillhole BO-25-28 190m to EOH)
| Hole | From (m) | To (m) | Interval (m) | Au g/t (FA) |
| BO-25-28 | 190.00 | 191.50 | 1.50 | 0.51 |
| BO-25-28 | 191.50 | 193.00 | 1.50 | 0.84 |
| BO-25-28 | 193.00 | 194.00 | 1.00 | 0.61 |
| BO-25-28 | 196.30 | 197.80 | 1.50 | 1.30 |
| BO-25-28 | 199.00 | 200.50 | 1.50 | 0.57 |
| BO-25-28 | 235.50 | 237.00 | 1.50 | 54.20 |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261248
SOURCE: Bullion Gold Resources Corporation
