Bond Resources Reports Positive Initial Metallurgical Results at Mary K Mine Project

- June 10th, 2020

Bond Resources Inc. (CSE:BJB) (FSE:5B1) (the “Company” or “Bond”) is pleased to announce that it has received positive metallurgical results that indicate mineralized material taken from its Mary K Mine project, near Elk City, Idaho, is amenable to a standard gravity plus flotation process.

Bond Resources Inc. (CSE:BJB) (FSE:5B1) (the “Company” or “Bond”) is pleased to announce that it has received positive metallurgical results that indicate mineralized material taken from its Mary K Mine project, near Elk City, Idaho, is amenable to a standard gravity plus flotation process.

Preliminary work, conducted by Bureau Veritas Minerals Metallurgical Division, (“BV Minerals”) showed that combined gravity and flotation recoveries of 96.3% gold and 72.7% silver were achievable at a grind size of P80 70-90 microns. The 23 kg test sample assayed 44.3 g/t gold and 16.7 g/t silver prior to processing.

Single pass gravity concentration with cleaning recovered up to 78.5% gold and 33.2% silver into the gravity cleaner concentrate. This concentrate assayed up to 32.9 kg/t gold and 8.2 kg/t silver. After further processing the gravity tailings through a flotation process the combined tailings and concentrate achieved >96% gold recovery and >71% silver recovery.

“We are very pleased with these initial metallurgical results,” commented Joseph Carrabba, President and CEO of Bond Resources. “Particularly noteworthy was the fact that our 23 kg sample assayed in excess of 1.2 oz/ton of gold and most of the contained gold (78%) was recovered though a simple gravity process that concentrated the gold to a grade of nearly 963 oz/ton. BV Minerals has stated that even higher grades can be expected from the gravity circuit in regular plant operations via continuous processing. Naturally, a systematic metallurgical study is still required in order to optimize process conditions and determine design parameters of a recovery plant.”

Details of Test-work

The metallurgical program was designed to evaluate the amenability of a 23 kg gold-and-silver-bearing sample to conventional mineral processing procedures. The sample was taken from the surface exposure of the Mary K vein and is currently the best representation of the vein that can be achieved.

Details of the program steps and conclusions are as follows, summarized/excerpted from the final report provided by BV Minerals:

  • The 23 kg sample was dried, crushed and split into two, 2 kg samples
  • One sample was pulverized and assayed for gold by standard 30 g fire assay and a multi-element analysis by ICP-OES/MS. Gold averaged 44.32 g/t and silver averaged 16.7 g/t.
  • Primary grinding and screen testing were performed on two grind sizes to evaluate the effect of particle size on recovery.
  • Two stages of gravity separation were completed: Rougher separation by Knelson Gravity Centrifugal Concentrator, followed by cleaning using hand panning.
  • The cleaned concentrate was fire assayed for gold and silver and the cleaner tailings and rougher tailings were combined and sent for flotation testing.
  • The gravity circuit removed 73.2% to 78.5% of the coarse gold into the concentrate, which graded up to 33 kg/t gold. Silver recovery was 30.1 to 33.2%.
  • Kinetic bulk sulphide flotation tests on the gravity tailings were done in five stages.
  • Products from each flotation test were assayed for gold and silver, with results indicating that an additional 17.9 to 23% of fine gold was recovered into a sulphide concentrate.
  • Most of the gold in the tails was in the first rougher concentrate and graded up to 1kg/t gold.
  • The combined gravity plus flotation recovery was >96%, leaving tailings assayed about 1.3g/t gold. Combined silver recovery was 71.8 to 72.7%.
  • The sample was not sensitive to grind size in the range of P80 70-90 microns.

Qualified Person

The scientific and technical content and interpretations contained in this news release have been reviewed, verified, and approved by Dr. Criss Capps PhD. P.Geo., an independent consultant to Bond Resources Inc. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Bond Resources: Bond Resources is a mineral resource company that holds the contractual rights to acquire the Mary K mine in the Elk City mining district of Idaho. The Company will focus on near-term production and rediscovery at the high-grade historic mine. Led by industry veterans and located in the mining friendly jurisdiction of Idaho, USA, Bond Resources combines the technical expertise of industry experts and a transparent communications model to increase shareholder value.

ON BEHALF OF THE BOARD

(sgd.) “Joseph A. Carrabba”
Joseph A. Carrabba, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935 Facsimile: 1-604-602-4936
Contact: Robert Eadie

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release

This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulations under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release may include certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: future work to be carried on the Property; use of funds; and the business and operations of Bond. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There is no assurance any of the forward-looking statements will be completed as described herein, or at all. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; operating and technical difficulties in connection with mineral exploration and development activities, lack of investor interest in financing; requirements for additional capital; future prices of gold and precious metals; changes in general economic conditions; accidents, delays or the failure to receive board, shareholder or regulatory approvals, including the required permits; results of current exploration and testing; changes in laws, regulations and policies affecting mining operations; and title disputes. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. Bond Resources disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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