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Bullion Monarch starts diamond drilling at Bom Jesus gold property in Brazil

Bullion Monarch (OTCBB: BULM) and JV partner Dourave have commenced a 3,000 metre diamond drill program on its Bom Jesus gold project in northern Brazil, in which BM has earned a 33.3% interest.

Drilling of FBJ-09 commenced in late March and has already encountered strong alteration. It will test the extension of known mineralization as encountered in FBJ-04.

The drill hole FBJ-08 at the project has been finalized with intense alteration encountered from near surface at 60 metre depth to the bottom of the 308 metre deep hole. The drill core is currently being logged, sampled and submitted for assay.

Previous drilling of similar conductors on this property intersected grades of 11.44 metres at 1.4 g/t (grammes per tonne) gold and 0.42% zinc associated with between 7-10% disseminated sulphides. High grade veins nearer the surface returned grades of 0.5 metres at 19.20 g/t gold and 1.21 metres at 5.58 g/t gold.

Current drilling will also test the down dip extension of shallow, high grade, parallel vein systems which returned bonanza grades from channel samples taken from shafts of 0.45 metres at 83.45 g/t gold, 0.55 metres at 34.49 g/t gold, 0.80 metres at 19.83 g/t gold, 0.3 metres at 139.69 g/t gold, 1.55 metres at 32.08 g/t gold and 0.6 metres at 315.04 g/t gold.

The company said that the results confirmed its investment into the Bom Jesus project and showed positive progress for the project.

BM has a 33.3% interest in the Bom Jardim properties, earned by funding exploration.

Disclosure: The author holds no positions in the company