(Source: MARKETWIRE)
American Bonanza Gold Corp. (TSX: BZA) ("Bonanza") has drilled high grade gold on the southern edge of the D-Zone mineralization at the 100% owned Copperstone Project in Arizona. Drill hole 08CS-54 encountered a 6.1 meter mineralized zone within the Copperstone Fault with an average grade of 37.8 grams per tonne gold (1.1 ounces of gold per ton) approximately 60 feet south of the southern margin of the D-Zone. These drill results will likely expand the high grade mineralized material that will be targeted for mining during the first year of the mine life. The Copperstone project produced one-half million ounces of gold between 1987 and 1993 and Bonanza is currently planning the re-activation of mining on the project during 2010.
Mine development advantages for Copperstone are significant and should shorten the permitting schedule and reduce capital costs for the new mine. Copperstone is a modern previously mined site with a clean, non-sulfide bearing mineral resource. Existing infrastructure consists of a power line and substation, and three water wells, all sufficient for the new mine at Copperstone, along with an office, maintenance shops and a laboratory building. The current study by the Company is optimizing the mining and milling plan, along with capital and operational costs. High grade in the D-Zone mineralization that is scheduled for Year One production has already been exposed in a 600 meter decline. Bonanza's revised schedule for the current Feasibility Study now estimates completion during early September.
The South Pit Zone, the Southwest Zone, and the D-Zone have the potential to significantly extend the mine life and improve the economic returns. The potential for these gold zones, which lie outside of the current resources, to extend the mine life at Copperstone will be evaluated subsequent to the current economic study.
The D-Zone exploration drill results are shown below:
Hole-ID From (m) To (m) Interval (m) Gold (g/t) Comment ---------------------------------------------------------------- 08CS-53 175.5 176.1 0.6 12.7 D - Zone 08CS-54 186.0 192.1 6.1 37.8 D - Zone incl 186.0 188.1 2.1 21.2 and 190.5 192.1 1.6 121.2 08CS-55 No significant assays D - Zone
The current drill holes were drilled at high angles to known mineralized structures and are thought to represent near true thicknesses.
A map showing the D-Zone exploration drill results can be found on the Company's website at: http://www.americanbonanza.com/i/maps/copperstone/July09-DZone-Map.jpg.
About Copperstone
The Copperstone Property is located in western Arizona within the Walker Lane mineral belt where it intersects gold provinces in Southern California and Western Arizona. These provinces host a total known gold endowment of over 40 million ounces of gold.
Between 2002 and 2005 Bonanza completed over 46,400 meters of primarily core drilling, including over 7,000 meters drilled from underground. Underground drilling was accessed from a 600 meter decline completed by Bonanza that accesses high grade gold mineralization north of the open pit in the D-Zone. Subsequently, a total of 59 exploration holes have been drilled, with a combined length of 17,490 meters (57,374 feet). Several strong gold anomalies were drilled, with the southern margin of the D-Zone, the South Pit zone and the Southwest zone showing the best results to date.
