November 21, 2024 – TheNewswire – BRONCO RESOURCES CORP. (TSX-V:BRON) (“Bronco” or the “Company”) is pleased to announce the following update on the Company’s Placer Mountain project in Southern BC (“Placer Mountain” or the “Property”). It is nearly three years since the last drill program at the Placer Mountain Gold Property, but the Company is now financed and has secured all necessary approvals for a new 5-year area-based exploration permit which will allow the Company to restart exploration. Work will be focused on diamond drilling to follow up on the Kodiak Zone discovery made in late 2021 with intercepts in KZ-21-05 of 3 meters of 39.20 g/t Au & 80.4 g/t Ag (see Table 1)1.  

 

Placer Mountain Property Highlights:

• 14,445-hectare land package containing numerous high potential exploration targets including the Kodiak Zone and Main Vein which have been successfully tested with limited diamond drilling. 

• Kodiak Zone is a 1.5km long, high tenor gold-in-soil anomaly with logging road access recently discovered in 2021 by the Company. 

• Limited drilling in 2020 and 2021, totalling 2,428 meters, found gold mineralization in all holes. 

• Inaugural drill program on the Kodiak Zone discovered high grade intervals of 3.0m of 39.20 g/t Au and 80.40 g/t Ag in KZ-21-05 and 1.4m of 46.51 g/t Au and 32.2 g/t Ag in KZ-21-02 (see Table 1) 1.  

• Drilling in 2020 and 2021 on the Main Vein encountered high grade intervals of 1.0m of 48.60 g/t Au and 30.80 g/t Ag in PG-20-001 and 1.5m of 34.12 g/t Au and 87.70 g/t Ag in MV-21-06 (see Table 2) 1.  

       

1 The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals.

2 This news release contains information about adjacent properties on which Bronco does not have the right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

 

Table 1 – 2021 Kodiak Zone Drill Highlights1

Table 2 – 2020 & 2021 Main Vein Drill Highlights1

The Placer Mountain Property is in south central British Columbia in a mineral district of numerous past and current producing mines and advanced exploration projects (Figure 1).  The Placer Mountain Property is located 15km to the south of the HudBay Minerals producing Copper Mountain Mine and Mill and 30km south of Princeton, British Columbia (Figure 2)2.  The area has a long history of mining and services to compliment exploration operations.  The Property is located off Highway 3 and has a network of logging roads throughout the Property.

 

Figure 1 – South Central British Columbia Mineral District

 

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Figure 2 – Placer Mountain Property Overview

  

Placer Mountain was first discovered in 2019 through prospecting and trenching of the Main Vein.  The inaugural drilling on the Main Vein at Placer Mountain took place in 2020 and consisted of 533 meters.  The 2020 program was successful in delineating the Main Vein with PG-20-001 grading 1.0 meter of 48.60 g/t Au and 30.8 g/t Ag (see Table 2) 1.  This near surface discovery hole exemplified the relatively untouched exploration potential of the Placer Mountain Property.

 

In 2021 the Company conducted a large prospecting, geochemical sampling, and trenching program discovering the Kodiak Zone approximately 2.5km northeast of the Main Vein (Figure 3).  Soil sampling on the Kodiak Zone outlined a 1.5km in strike by 750 meters gold-in-soil anomaly with values ranging from below detection to 18.1 g/t Au-in-soil, including 89 samples above 50 ppb (Figure 4). Follow up trenching highlighted intervals of 44.50 meters of 0.70 g/t Au in TR-03 and 8.00 meters of 2.56 g/t Au in TR-01 demonstrating the bulk tonnage potential of the Kodiak Zone.  In 2021, 1,895m was drilled between the Kodiak Zone and Main Vein.  Drilling at the Kodiak Zone was severely impacted by atmospheric and large storms causing significant delays and difficulties in operating the drill program.  With limited ability to move and position the drill the company was still able to intersect at the Kodiak Zone discovered intercepts of 3 meters of 39.20 g/t Au and 80.40 g/t Ag in KZ-21-05 and 1.4 meters of 46.51 g/t Au and 32.2 g/t Ag in KZ-21-02 (see Table 1)1.  In effect only a small portion of the Kodiak Zone 1.5km Au-in-soil anomaly has been drilled to date.

 

Bronco Resources is currently finalizing exploration plans and expects to be drilling by the end of November 2024.

 

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Figure 3 – Kodiak Zone & Main Vein Au-in-Soil Geochemistry

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Figure 4 – Kodiak Zone 1.5km Au-in-Soil Anomaly & 2021 Drilling

 

CEO Comment

 

Corbin Stewart, CEO, commented “We are very excited to start the next stage of exploration on the Placer Mountain Property. We will continue to build on the exploration successes since the first discovery of the Main Vein in 2019. Placer Mountain is a unique property with the combination of excellent access and essentially no historical exploration. Bronco will focus on spending exploration dollars on drilling and boots on the ground exploration to continue to advance the Placer Mountain Property. The 2024 will focus on testing the high-grade Kodiak Zone with only 120 meters of the 1.5km gold-in-soil anomaly tested.”

     

Qualified Person

 

Dr. Gerald G. Carlson, PhD, PEng, technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this report.

 

About Bronco

 

Bronco Resources Corp. is a TSX Venture listed Canadian public company with a Board of Directors seasoned in the mineral exploration industry and having extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored gold properties worldwide.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF BRONCO

“Corbin Stewart”

Corbin Stewart, Chief Executive Officer

 

For additional information visit Bronco’s website at www.broncoresources.com or contact:

 

Bronco Resources Corp.

Corbin Stewart

Chief Executive Officer

info@broncoresources.com

 

Disclaimer for Forward-Looking Information

This news release contains statements that constitute "forward-looking Information", as such term is used in applicable Canadian securities laws.  Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

 

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

 

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at sedarplus.ca

 

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BRONCO AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BRONCO MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.