The company has started a 400m drill programme with a focus on two exploration targets. Credit: Aussie Family Living via Shutterstock.com.

Canadian mineral exploration company Mabel Ventures has launched the 2024 season exploration and drilling programme at the Bonanza Project in Quebec.

Mabel has the option to acquire a 51% stake in the Bonanza project under a deal signed with Abitibi Metals last year.

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The Bonanza Gold Property is situated in the east-central part of the Abitibi sub-province, which is south of the Urban-Barry greenstone belt within the Barry Complex.

This property is located around 25km south of Osisko Mining’s Windfall Deposit and between 15km and 20km south of Bonterra Resources’ Barry Property and Gladiator deposit.

Spanning 92 map-designated claims, the Bonanza Project covers an area of 5,212 hectares.

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Currently, the project is in the discovery stage, with various exploration activities such as heliborne and ground geophysics, soil sampling, prospecting, trenching and drilling conducted from 2018 to 2020.

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Phase II has now commenced on the Bonanza project. The company has started a 400m diamond drill programme, focusing on two exploration targets that were highlighted during Phase I.

Upon completion of the drilling, Mabel Ventures plans to undertake prospecting and soil sampling to further investigate the targets identified in the initial phase of the exploration programme.

Last year, Mabel conducted an induced polarisation (IP) survey and a prospecting campaign on the east portion of the Bonanza property.

The IP survey identified high-priority targets, which are superimposed on the south-east end of a magnetic trend believed to represent an iron formation unit.

Mabel president and CEO Amanda Bennett said: “We are excited to see what the drill programme will identify at Bonanza.

“The proximity to advanced deposits, such as the Windfall Gold Deposit to the north, highlights the excellent potential of the area.

“This exploration programme aims to get a further interpretation of the geology with the ambition of making a discovery within one of Canada’s most exciting exploration camps.”