Business & Finance
Business and Finance
Business and Finance 
Mon, May 17, 2010
Sun, May 16, 2010
Sat, May 15, 2010
Fri, May 14, 2010
Bonaventure Enterprises Inc.: New Pass Project Resource Estimate Upgraded to 1,725,022 Au EQ
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2010) - BONAVENTURE ENTERPRISES INC. ("Bonaventure" or "the Company") (TSX VENTURE:BVT)(FRANKFURT:YQG) announces that it has contracted Paul D. Noland (B.Sc., P. Geo) to prepare an updated 43-101 compliant technical report on its New Pass Project, located in Central Nevada, approximately 27 miles west of Austin. This soon to be released report contains a Drill Indicated Mineral Resource of 15,515,488 short tons (14,075,414 metric tons) at 0.022 ounce per ton (0.75 grams/metric ton) gold equivalent or 341,750 ounces of gold equivalent comprised of 282,986 ounces of gold at an average grade of 0.018 ounces per ton (0.62 grams/metric ton) and 3,139,054 short tons (2,847,702 metric tons) of silver at an average grade of 0.202 ounces per ton (6.92 grams/metric ton). It also contains an inferred resource of 62,894,589 short tons (57,057,011 metric tons) at 0.022 oz/ton gold equivalent (0.75 grams/metric ton) or 1,383,272 ounces of gold equivalent comprised of 1,132,103 ounces of Au at an average grade of 0.018 ounces per ton (0.62 grams/metric ton) and 12,704,706 ounces of Ag at an average grade of 0.202 ounces per ton (6.92 grams/metric ton). A breakdown of the gold and silver credits is shown below.
| Drill Indicated Resource | ||||||
| Total Short Tons | Avg Grade Au EQ (oz/ton) | Contained Ounces (Au EQ) | Avg Grade, Ag Only (oz/ton) | Contained Ounces, Ag Only | Avg Grade, Au Only (oz/ton) | Contained Ounces,Au Only |
| 15,515,488 | 0.022 | 341,750 | 0.202 | 3,139,054 | 0.018 | 282,986 |
| Geologically Inferred Resource | ||||||
| Total Short Tons | Avg Grade Au EQ (oz/ton) | Contained Ounces (Au EQ) | Avg Grade, Ag Only (oz/ton) | Contained Ounces, Ag Only | Avg Grade, Au Only (oz/ton) | Contained Ounces, Au only |
| 62,894,589 | 0.022 | 1,383,272 | 0.202 | 12,704,706 | 0.018 | 1,132,103 |
| Total Drill Indicated plus Geologically Inferred Resource | ||||||
| Total Short Tons | Avg Grade Au EQ (oz/ton) | Contained Ounces (Au EQ) | Avg Grade, Ag Only (oz/ton) | Contained Ounces, Ag Only | Avg Grade, Au Only (oz/ton) | Contained Ounces, Au Only |
| 78,410,077 | 0.022 | 1,725,022 | 0.202 | 15,838,835 | 0.018 | 1,411,381 |
The Drill Indicated Resource was done using 137 drill holes over a strike length of 3,800 feet. Vulcan software was utilized to create a 'Block Model' of the resource volumes and weighted average grade. For the 'Geologically Inferred resource' a simple 3-D polygon was constructed around the known resource and all geologic permissive areas adjacent, along strike and down dip over a strike length of 5,300 feet also using Vulcan. The same average grades were used as for the Drill Indicated resource.
Bonaventure is pleased with the results of the report and plans to increase the Drill Indicated resource with additional drilling as soon as possible.
Qualified Person
These results have been prepared under the guidance of geologist Paul D. Noland (B.Sc., P. Geo), who is designated as the Qualified Person with the ability and authority to verify the authenticity and validity of this data.
About Bonaventure Enterprises Inc.
Bonaventure Enterprises Inc. is a Canadian based resource and exploration company traded publicly under the symbol BVT on the TSX Venture Exchange and YQG on the Frankfurt Stock Exchange. In Nevada, the Company holds 100% of the mineral exploration properties including Cottonwood, and Northern Lights. The Company also has an option agreement with U.S. Gold Corporation (TSX: UXG) whereby it has earned a 50% interest in the New Pass (Eureka) and Squaw Creek (Carlin Trend) Properties. Bonaventure also has uranium, poly-metallic and diamond assets in the Athabasca Basin. Bonaventure is focused on the creation of shareholder value and building a first-tier company through the acquisition and development of large projects demonstrating the ability to host World-Class mineral deposits.
On behalf of the Board of Directors
Richard Kern, President
For further information on the Company, please visit our website at [ www.bonaventure.us ]. The Company's public documents may be accessed at [ www.sedar.com ].
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 release.