ST. GEORGE, Utah, Sept. 8, 2011 /PRNewswire/ -- Bullion Monarch Mining Inc. (OTCQB:BULM) announces favorable exploration results returned from their Bom Jesus gold property in the Tapajos region of Brazil. Sampling of Garimpeiro shafts near drill hole FBJ-08 has returned gold values of 0.50m @ 206.2 g/t Au and 0.70m @ 93.3 g/t Au.
These promising results occurred in a zone which is characterized by a broad Au (MMI) and basemetal (MMI) anomaly coincident with a magnetic low and high chargeability (IP) anomaly. The structure associated with mineralization can be traced for more than 2 kilometers in geophysical surveys. With highly anomalous gold grades returned from the regional stream sediment sampling program, a new, highly prospective corridor trending SW-NE has been defined at Bom Jesus. Geological mapping has highlighted the presence of multiple mineralized veins, volcanic dykes and stock-works with intense hydrothermal alteration.
Extension of current geochemical grids will continue to the southwest, targeting anomalous zones defined in the stream sediment sampling. A detailed airborne magnetic survey is planned for later in the year and drilling of targeted areas will follow.
Bullion Monarch Mining has several active exploration projects in the Tapajos region of Brazil. Spanning some 125,000 sq. km, Tapajos is the country's largest alluvial gold province, and the world's third-largest. Artisanal miners in the region have produced up to 30 million oz. of gold during the gold rush that began in the 1970's.
Bullion Monarch Mining's Ouro Mil property, which is also located in the Tapajos region of Brazil, has attracted the interest of several mining companies in the region. This property is currently under an exploration joint-venture contract with Brazilian Gold Corp., who has reconfirmed exploration plans for the property by making its annual payment to Bullion Monarch. Brazilian Gold's future exploration plans include drilling of identified targets, which should commence as drill rigs become available.
CEO and Chief Geologist R. Don Morris states, "Bullion Monarch Mining remains very encouraged with the progress of exploration programs on the Bom Jesus Project area. As the geological, geochemical, geophysical studies and preliminary drilling have developed; the existence of a large, hydrothermally altered, mineralized zone has become evident. An aggressive exploration program will continue at Bom Jesus in an effort to define a near surface resource in the short-term as well as potentially identify a massive new gold deposit."
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a publicly traded (OTCQB:BULM (FRA:BMJ)) gold-focused exploration royalty company with additional interests in oil-shale technology. The Company is engaged in a continual review of mining opportunities to create growth for shareholders. The majority of current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit the Company website at www.bullionmm.com for more information.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995.
Statements made in this press release about us that are not purely historical are forward-looking statements with respect to our goals, plan objectives, intentions, expectations, financial condition, results of operations, future performance and business, including, without limitation, statements preceded by, followed by or that include the words "may," "would," "could," "should," "expects," "projects," "potentially," "believes," "estimates," "planned," "intends," "targeting" or similar expressions. Forward-looking statements involve inherent risks and uncertainties. Important factors, many of which are beyond our control, could cause actual results to differ materially from those set forth in the forward-looking statements, including but not limited to the following: general economic or industry conditions, nationally and internationally; increases or decreases in the prices of metals; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; our ability to raise capital when required; changes in accounting principles, policies or guidelines; financial or political instability; acts of war or terrorism; and other economic, competitive, governmental, regulatory and technical factors affecting our operations, products, services and prices, among others. Accordingly, results actually achieved may differ materially from expected results in these statements. Forward-looking statements speak only as of the date they are made. We do not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements. Investors should carefully consider the preceding information as well as information contained in the Company's Form 10 Registration Statement before making any investment in the shares of the Company. Neither Bullion Monarch Mining Inc. nor its subsidiaries, undertake any obligation to update any forward-looking statements contained in this press release. This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy or sell any security.
SOURCE Bullion Monarch Mining Inc.