Reserves released for Red Mountain

The 1990 year end results for Bond International Gold (TSE) provided the first details released by the company of its 1990 summer exploration program on the Red Mountain property near Stewart B.C.

A total of $3.4 million was spent on an exploration program that included 55 diamond drill holes. Gold mineralization outlined from the 1990 program is reported to have extended the Marc zone over a strike lenght of about 800ft.

A preliminary reserve estimate of 933,000 tons grading 0.37 oz. gold per ton was calculated from assay data obtained from a drill core at a cutoff grade of 0.09 oz.

No reserve calculations or exploration details were released for other known zones on the property that were discovered during Bond Gold’s 1989 exploration program.

Bond International Gold’s major shareholder is Toronto-based LAC Minerals (TSE). LAC recently announced that it intends to acquire he remaining outstanding shares of Bond International Gold. It currently owns about 65% of the out standing shares.

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