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Bullion Gold Resources Mobilizing a Field Team to Terragold Project; Upsizes Private Placement to $2 Million

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Bullion Gold Resources (BGD.V) on Tuesday said a field team was mobilized to its flagship Terragold project in Quebec, within the Abitibi Greenstone Belt.

The company also upsized a private placement of share units to up to $2 million from $1.5 million.

The field team will prepare the ground for a drilling program expected to begin later this month.

"Following more than 40 years of inactivity, our recent compilation of historical data and completion of a comprehensive 3D geological model have provided a better understanding of the system and identified several high-priority targets," said Chief Executive Simon Britt. "The upcoming validation drilling program is designed not only to confirm historical high-grade gold intersections, but also to evaluate the full geochemical signature of the mineralized system, including elements associated with the quartz-feldspar porphyry and surrounding alteration zones that were not systematically analyzed during historical exploration programs."

Shares of the company were last seen down $0.005 at $0.075 on the TSX Venture Exchange.

Price: $0.08, Change: $-0.01, Percent Change: -6.25%

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