Bison Resources Initiates High-Resolution Airborne Magnetic Survey Over Nevada Gold-Silver Projects

Bison Resources' Nevada Projects Situated in the Renowned Carlin Trend

Bison Resources Limited focuses on exploring carbonate-hosted precious metal deposits in northeast Nevada, USA. Its Nevada portfolio—Ruby Lake, Cherry Springs, Bald Peaks, and Medicine Range—comprises 312 unpatented lode mining claims covering roughly 26.1 square kilometres, located about 80 kilometres southeast of Elko within the prolific Carlin Trend. Recognized as a world-class gold district, the Carlin Trend hosts significant gold-silver deposits, and Bison targets similar carbonate-hosted mineralisation with comparable geology and structural settings.

The strategic positioning of Bison’s projects is central to its exploration approach. Notably, the Bald Peaks Project borders Torex Gold Resources Inc.'s (TSX:TXG) high-grade Medicine Springs Silver Project and lies near Sun Silver's (ASX:SS1) Maverick Silver Project, which reportedly contains 539 million ounces of silver equivalent. Bald Peaks shares geological and structural characteristics with Maverick Silver, situating Bison’s assets within a district known for precious metal mineralisation.

Survey Details: High-Resolution Magnetic and Radiometric Coverage at 100-Metre Line Spacing

Bison Resources contracted New Resolution Geophysics (NRG) to perform the airborne survey, which involves collecting magnetic and radiometric data along east-west flight lines spaced 100 metres apart, totaling 4,112 line-kilometres. This high-resolution survey—the first of its kind in the area—is intended to improve exploration targeting and enhance geological and structural interpretations across all four project sites. The data will underpin drill targeting and help develop a pipeline of prospects for initial drilling campaigns.

The airborne program’s objectives include achieving comprehensive high-resolution magnetic and radiometric coverage over the project areas, aiding geological and structural understanding, and supporting drill target generation to inform upcoming maiden drill programs. This marks a significant advancement beyond Bison’s existing surface exploration efforts, which include hyperspectral remote sensing and rock chip sampling.

Bald Peaks Project: Spectral Anomalies and Indicators of Carlin-Type Mineralisation

The Bald Peaks Project, covering 40 claims over approximately 3.3 square kilometres, has emerged as a priority due to spectral and geochemical indicators. Two major spectral anomalies were detected along the eastern north-trending fault: an 800-metre kaolinite-jarosite anomaly to the north and a 1-kilometre goethite-haematite anomaly to the south. Both anomalies suggest potential for epithermal and carbonate replacement-style precious metal deposits typical of Carlin-type systems.

Field validation at Bald Peaks has revealed a 1.5-kilometre arsenic-antimony geochemical anomaly linked with decalcification of host carbonates, silicification, gossanous breccias, and jasperoidal alteration. The observed pathfinder element association (arsenic-antimony with or without tungsten-mercury-thallium) and alteration styles support the presence of a potential Carlin-type mineral system. This integration of remote sensing, field observations, and geochemical data underpins management’s decision to prioritise Bald Peaks for drill target development.

Ruby Lake and Cherry Springs Projects: Spectral Anomalies and Intrusion-Related Targets

The Ruby Lake Project includes 128 claims over roughly 10.7 square kilometres and shows evidence of hydrothermal alteration linked to an intrusive system. Remote sensing identified clusters of kaolinite, goethite, and haematite anomalies near the intersection of north and northeast-trending faults adjacent to the "Ruby Stock" intrusion. These spectral features align with mineralised systems found elsewhere in the Carlin Trend.

The Cherry Springs Project, spanning 82 claims across about 6.9 square kilometres, also exhibits spectral signs of hydrothermal alteration. Two main target zones were identified: kaolinite and haematite signatures bordering the "Cherry Stock" intrusion, and a 500-metre by 500-metre goethite-haematite anomaly along a southern northeast-trending fault. These anomalies may indicate hydrothermal precious metal mineralisation. The spectral anomalies associated with intrusions at both projects demonstrate the effectiveness of Bison’s remote sensing in pinpointing drill-worthy targets.

Medicine Range Project: Structural and Lithological Analogues to Maverick Springs

The Medicine Range Project comprises 62 claims over approximately 5.2 square kilometres and represents a unique target within Bison’s portfolio. The company identified a litho-structural setting analogous to the nearby Maverick Springs silver deposit, where a key lithological contact is intersected by northeast and northwest-trending structural corridors. This setting is ideal for initial field validation via geological mapping, rock chip, and soil geochemical sampling.

Proximity and geological similarity to the Maverick Springs deposit are significant, as the Maverick Silver Project contains 539 million ounces of silver equivalent, underscoring the presence of world-class precious metal deposits near Bison’s Medicine Range Project. Recognizing analogous structural and lithological features provides a conceptual basis for drill target generation and justifies further exploration investment.

Complementary Field Activities and Surface Sampling Enhance Drill Targeting

Alongside the airborne survey, Bison Resources continues field exploration across all four projects, validating hyperspectral anomalies through rock chip sampling and mapping surface geochemical anomalies via soil sampling. These ground-truthed data complement the remote sensing and airborne geophysical datasets, offering a robust foundation for prioritizing drill targets.

The timing of the airborne survey strategically aligns with ongoing surface exploration. Recent rock chip results have preliminarily confirmed spectral anomalies, while soil sampling delineates the extent of surface geochemical signatures. The airborne magnetic and radiometric data provide subsurface structural and lithological insights unattainable from surface sampling alone, representing a methodical transition from regional reconnaissance to drill-stage targeting.

Post-ASX Listing Survey Enables Accelerated Exploration Funding and Activity

The airborne geophysical survey is Bison Resources’ first since its recent ASX listing, reflecting improved access to capital markets that facilitate the shift from desktop exploration to active fieldwork and capital-intensive airborne surveys. The sequential approach—from spectral analysis and surface sampling to airborne geophysics and planned drilling—demonstrates a logical exploration progression.

The ASX listing has provided financial resources enabling a more extensive exploration program than previously possible as a private entity. Bison has rapidly mobilized field crews for geophysical surveys and plans to advance to maiden drilling based on survey outcomes. This capital infusion has materially accelerated exploration momentum across all four projects.

Survey Results to Inform Drill Targeting and Maiden Drilling Plans

Bison Resources confirms that airborne geophysical survey results will guide drill target generation and support maiden drilling at priority prospects. While specific timing and scope of drilling remain undisclosed, the company’s statement indicates drilling is the next step, contingent on geophysical data interpretation.

Integrating airborne geophysical data with existing spectral, geochemical, and geological information will enable Bison to prioritize drill targets effectively. High-resolution magnetic and radiometric data provide critical subsurface insights on lithology, structure, and potential mineralisation-related magnetic signatures not detectable at surface, allowing for more confident drill program design.

Exploration Risks in Nevada and Unproven Mineral Deposits

Despite Nevada’s established mining infrastructure and regulatory environment, mineral exploration remains speculative. Bison’s projects are at an early exploration stage with no defined mineral resources or reserves as of this update. Spectral anomalies, geochemical signals, and structural interpretations suggest potential mineralisation but do not confirm economic deposits. Success depends on converting these indicators into drill targets and ultimately defined mineral resources.

Interpretation of airborne geophysical data carries inherent technical risks, as multiple geological models may fit the data. Drilling is essential to validate interpretations and establish the presence of economic mineralisation. Moreover, exploration success depends on geological continuity; proximity to known deposits does not guarantee similar mineralisation within Bison’s claims.