TORONTO, Oct. 29, 2020 (GLOBE NEWSWIRE) -- One Bullion Ltd. (“One Bullion” or the “Company”) As per the Company’s news release on the 22nd of October 2020, the Company is now ready to start carrying out a detailed Induced Polarization (IP) Geophysical Survey over individual lines covering 107km of the Kraaipan greenstone belt. Several of the zones within the belt exhibit evident potential pyrrhotite replacement. These zones are interpreted to be ‘Kalgold D-zone’ type targets and should, in all probability, produce significant Induced Polarisation (IP) anomalies. The second type of target, gold associated with gently dipping quartz veins, were more difficult to identify over the Kalgold prospects as that type of geological setting produces more subtle and complex responses with pyrite, as opposed to pyrrhotite, the dominant sulphide mineral.
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The Company used government magnetic data available to them to determine 107 km of potential gold bearing targets. The targets were categorised according to their structure and gold bearing abilities, the same was found at Kalgold.
When looking at the Kalgold gold deposit, discovered on the Kraaipan greenstone belt in South Africa, deformation played a significant role in focusing fluids into competent, chemically reactive rock. An interpretation was made that the greenstone terrain in Botswana is more deformed than the greenstone terrain found at Kalgold South Africa, this is very positive and suggests a bigger surface area over which gold could potentially precipitate.
The magnetic response over the target areas was interpreted as a convergence of several curvi-linear magnetic units into a well-defined shear zone, "horsetail structures.” These structures are known for their gold bearing abilities in similar greenstone terrains.
Priority area II was interpreted as a multitude of limited strike length high and low amplitude, linear anomalies. This could indicate sulphide bearing stratigraphy’s and structures similar to D / A / Water Tank / Windmill zones found at Kalgold.
The priority III was interpreted and could resemble a similar structure and appearance to the greenstone belt hosting the Kalgold.
Exploration will focus on identifying short strike lengths, subtle magnetic anomalies in close proximity to the large amplitude magnetic anomalies.
One Bullion Limited, through its Botswana Subsidiary Premier Gold Resources, Appoints Cas Lötter, through Spectral Geophysics Botswana, to Carry out Induced Polarization Geophysics Program over Kraaipan Greenstone Belt
Cas Lötter has 39 years’ experience in Mining and Exploration geophysics and has operated his own consulting and contracting business for 30 years. He has extensive experience in all of the geological terrains in Southern, Central, Eastern and Western Africa. He has also significant experience exploring for nickel, copper, gold, uranium, iron, coal, diamonds and groundwater.
His main specialization is in airborne magnetic, radiometric, gravity and electromagnetic survey design, QC, processing and interpretation. Mr. Lötter also has extensive experience in conventional ground and downhole/borehole electromagnetic and Induced Polarization surveys, including 2D/3D forward and inversion modelling.
Mr. Lötter has been involved with several discoveries of mineral deposits since 1991, including KALGOLD west of Mahikeng and A4 near Ghanzi. He was also actively involved in mapping the extensions to Tati Nickel and the BCL Selebi Phikwe deposits.
Arno Brand CO-CEO and COO commented:
“The Company is further planning to conduct 3 more geophysics Programs over the Vumba and Tati Greenstone belts in Northern Botswana, as well as over its Licenses covering the Molopo Farms complex in Central Botswana. Once the Geophysics programs are concluded, the Company intends to also conduct a vast geochemical Program over the defined Target Areas.”
“We are thrilled to have Cas Lötter join the team, his expertise and experience will be a great asset to the Company’s projects in Southern Africa. We anticipate promising results from the fore coming geological surveys,” remarked Sheldon Inwentash, Chairman at One Bullion.
About One Bullion Inc.
One Bullion is a junior gold exploration company in Botswana, focused on three high potential projects covering a total of 5,600km2 in Africa’s optimum mining and business jurisdiction. 1) The Kraaipan Gold Project (2,542km2), where One Bullion has control over a Botswana parcel with an 80km strike in a highly prospective greenstone belt. 2) Molopo Farms PGM/Ni-Cu Project (1,867km2), where One Bullion has strategic licenses over a 60km expanse of the West margin of Bushveld-related Molopo Farms Complex, which is vastly underexplored. 3) Northern Gold Project (1,187km2), where One Bullion has strategic licenses covering portions of Botswana’s exposed greenstone belt terrain on the Southern Zimbabwe craton.
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Forward-Looking Information & Statements
Certain statements in this press release constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events or One Bullion Inc.’s (“One Bullion Inc.” or “the Company”) future performance, business prospects or opportunities. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but no always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions) are not statements of historical fact and may be forward looking information.
Forward-looking information in this press release may include, but is not limited to,
statements with respect to the Company’s future plans to acquire additional targets or properties including equity positions with partners, enter into joint venture, earn‐in, royalty or streaming structure agreements, or dispose of properties, achieve an income stream which would permit it to pay a dividend on its outstanding shares, the timing and amount of future exploration and expenditures and the possible results of
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the risk that the Company will not be successful in completing additional acquisitions, risks relating to the results of exploration activities and risks relating to the ability of the Company to enter into joint venture, earn‐in, royalty or streaming structure agreements, or dispose of properties, future prices of mineral
resources; accidents, labor disputes and other risks of the mining industry including continued community and government support of the Company’s projects. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward looking information should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.