Bonanza Metals buys new project

In an agreement with Charlim Exploration (VSE), Bonanza Metals (ASE) will acquire a 70% interest in a property bordering the Poirer/Joutel mining concession in Quebec. Bonanza paid $50,000 cash and will perform $400,000 worth of exploration over the next two years. The property covers the southern extensions of rock formations hosting economic mineralization on the Poirer Mine property. In addition to base metal potential, the Charlim ground hosts several weak geophysical anomalies that may be favorable for gold mineralization. In the near future, Bonanza will follow up gold mineralization intersected in previous surface drilling on the property.