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American Bonanza Gold Corp. (TSX: BZA) is a dynamic gold company engaged in the acquisition, exploration and development of high-grade gold properties located in the United States and Canada. Bonanza is developing both its advanced stage 100% owned Copperstone gold property in Arizona, and is aggressively drilling several other projects with successful results, with the goal of achieving production by 2009.
American Bonanza's Copperstone Property contains a 10.7 g/t resource with 335,000 ounces of gold in the Measured and Indicated categories and 66,000 ounces of gold in the Inferred category. An aggressive drill campaign is underway with a goal of expanding this resource. The Company is also conducting mining studies to determine the feasibility of placing the Copperstone Project into production, making Copperstone Bonanza's first high grade gold mine.
The Company's Fenelon property lies in northern Quebec's Casa Berardi greenstone gold district. The Company's recent drilling program has identified two large nickel rich zones with a total length of 2 kilometres, and grades up to 1.9% nickel.
Bonanza continues to advance other exploration projects, including the La Martinière, Quebec (100% owned), and has recently entered into a letter of intent with Agnico-Eagle to jointly develop the Noyon-Northway and Vezza properties in Quebec.
http://www.americanbonanza.com/s/Home.asp
| Highest Grades Drilled To Date http://www.americanbonanza.com/s/NewsReleases.asp?ReportID=340076&_Type=News-Releases&_Title=Highest-Grades-Drilled-To-Date-At-CopperstoneAt Copperstone | |||||||||||||||||||||
| http://www.americanbonanza.com/s/NewsReleases.asp?ReportID=340076&_Type=News-Releases&_Title=Highest-Grades-Drilled-To-Date-At-Copperstone | March 2, 2009 - American Bonanza Gold Corp. (TSX: BZA) ("Bonanza") has drilled the highest gold grades yet obtained at the 100% owned Copperstone Project in Arizona. Drill hole 08CS-50 encountered a 5.8 meter structural zone with an average grade of 227.7 grams per tonne gold (6.6 ounces of gold per ton) in the South Pit gold zone. The South Pit gold zone is the second new gold zone discovered at Copperstone during recent exploration drilling, and is adjacent to the south end of the open pit, which produced one-half million ounces of gold between 1987 and 1993. The South Pit zone as currently understood is at least 300 meters long and is open to expansion along strike and up and down dip. During 2007 and 2008, exploration follow-up drilling in the South Pit zone totaled 11 drill holes, all of which encountered the targeted fault zones and gold mineralization. The South Pit zone and the Southwest zone have the potential to extend the mine life at Copperstone beyond the current resources, and further drilling at both zones is planned. The Phase 3 follow-up drilling is complete with 15 holes drilled, having a combined length of 4,313 meters (14,147 feet). The drilling was designed to test the continuity, geometry, and overall significance of the new gold zones. The current drill holes were drilled at various angles to mineralized structures and are therefore not true thicknesses. Phase II drilling during 2007 consists of 17 drill holes with a combined length of 5,482 meters (17,980 feet). During the 2006 Phase I exploration drilling Bonanza completed 27 drill holes with a total length of 7,695 meters (25,247 feet). A total of 59 exploration holes have been completed, with a combined length of 17,490 meters (57,374 feet). Several strong gold anomalies were drilled, with the South Pit zone and the Southwest zone showing the best results to date. These new gold zones have the potential to significantly expand the mine plan and improve the economic returns. The current study by the Company is optimizing the mining and milling plan, along with capital and operational costs. The potential for these new gold zones to extend the mine life at Copperstone will be evaluated during the current economic study, and additional drilling is planned at the South Pit and Southwest zones, and several other targets. All of the recent South Pit zone drill results are shown below: Hole-ID From (m) To (m) Interval (m) Gold (g/t) Comment 08CS-49A 80.8 85.4 4.6 3.1 South Pit Zone 166.2 170.7 4.6 7.1 08CS-50 227.1 233.5 6.4 3.4 South Pit Zone incl 231.1 232.6 1.5 7.1 257.0 262.8 5.8 227.7 incl 257.0 257.6 0.6 2,125.5 and 260.1 262.8 2.7 7.8 08CS-51 196.0 196.6 0.6 1.1 South Pit Zone 08CS-52 250.0 253.0 3.0 3.3 South Pit Zone incl 250.0 251.5 1.5 5.3 08CS-58 106.7 115.9 9.1 4.2 South Pit Zone 236.9 237.8 0.9 4.0 240.9 242.1 1.2 6.4 246.2 247.0 0.8 7.4 08CS-59 73.2 76.2 3.0 3.1 South Pit Zone 138.7 141.8 3.0 8.2 incl 140.2 141.8 1.5 12.4 As previously announced, the 2007 drilling in the South Pit zone encountered the following gold mineralized structural zones: Hole-ID Interval (m) Gold (g/t) Comment 07CS-32 2.4 6.8 South Pit Zone 2.7 5.5 07CS-33 0.5 7.4 South Pit Zone 12.5 0.6 07CS-34 7.6 10.6 South Pit Zone Incl. 3.0 18.9 07CS-36 2.1 14.1 South Pit Zone Incl. 1.0 28.5 and 3.0 39.4 Incl. 1.5 69.3 07CS-37 4.6 4.9 South Pit Zone Incl. 1.5 11.2 A map showing the Phase 3 drill results can be found on the Company's website at http://www.americanbonanza.com/i/misc/copperstonesouthpit-large.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. Bonanza controls over 3,600 contiguous hectares of prospective ground at Copperstone. 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. 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. Copperstone gold resources, based on a cutoff grade of 5.1 g/t gold, and capped at 137 g/t gold:
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