Bullion Gold Resources' Bodo Project: A Polymetallic Opportunity in Quebec's Untapped Mineral Belt

Quebec's underexplored mineral belt is on the cusp of a transformative discovery, and the Bodo Project—controlled by Bullion Gold Resources (BOG:TSXV)—stands at its epicenter. This 410 km² land package, rich in polymetallic potential, has unveiled lithium and cobalt anomalies in its western regions, while its historical gold, copper, and silver intersections hint at a resource portfolio of rare scale and diversity. With a seasoned explorer at the helm and a 2025 exploration roadmap designed to unlock its secrets, Bodo represents a rare convergence of strategic mineral demand, geological continuity, and execution risk mitigation. Investors should act now before the market catches on.

The Strategic Mineral Play: Lithium, Cobalt, and the EV Revolution

The Bodo Project's recent discoveries align perfectly with global demand for critical minerals. Lithium, a cornerstone of EV batteries, has surged in price, while cobalt—used in high-performance cathodes—faces supply constraints amid geopolitical tensions. Here, the project's 2024 MRNF survey results are pivotal:
- The Licé lithium showing, identified in the western Bodo zone, is linked to granitic pegmatites of the Senay Suite, a geological setting known for hosting world-class lithium deposits like the Whabouchi Mine in the same mineral belt.
- High-grade cobalt anomalies, such as the 1,210 ppm reading from a 1976 lake sediment sample, suggest a magmatic nickel-copper-Co system tied to mafic-ultramafic intrusions. These deposits could supply cobalt at a time when battery manufacturers are racing to secure stable supplies.

The project's lithium potential alone justifies attention. Quebec's Lac des Montagnes Group—a 40 km stretch controlled by Bullion Gold—has already produced the Whabouchi lithium deposit, and Bodo's new showings expand this corridor's footprint. With lithium prices forecast to average $35,000/tonne in 2025 (per Benchmark Mineral Intelligence), the timing could not be better.

Geological Continuity: A Multi-Metal Engine

Bodo's value lies in its polymetallic nature, a rarity in today's commodity-specific mining landscape. The Lac des Montagnes and Tichégami geological groups host gold, chrome, copper, zinc, and nickel deposits, with Bodo positioned at their intersection. Key intersections include:
- Gold-Copper-Silver: Historical drilling at Canico and Lac Rivon revealed high-grade intercepts, such as 10.4 g/t Au over 12 meters, underscoring the project's potential to host structurally controlled, high-margin deposits.
- Zinc-Copper-Gold: The Didi showing, discovered in 2024, returned 3.7% Cu and 1.2 g/t Au, highlighting the project's diversity.

Crucially, the MRNF's 2024 survey identified eight mineralization types, including lithium pegmatites and VMS-style sulfides, suggesting a “resource factory” environment. The project's underexplored western regions—where 1970s sampling was limited—now offer a blank canvas for discovery.

Leadership: Guy Morissette's Track Record of Mining Miracles

The appointment of Guy Morissette as CEO on January 14, 2025, adds credibility to Bodo's prospects. Morissette's legacy is built on transforming overlooked projects into major deposits:
- Nelligan Gold Deposit: Discovered in 2013, this asset grew into a 5.5 million-ounce inferred resource, acquired by IAMGOLD in 2023 for $500 million.
- Moriss Deposit: His 2010 discovery, now a key part of the Galloway gold project, contributed to an inferred resource of 1.79 million ounces.

Morissette's hands-on approach is evident in his 9.54% equity stake in Bullion Gold and his direct oversight of the 2025 exploration budget. His focus on the Lac des Montagnes corridor and drone-based VTEM-Mag surveys—a method he successfully used at Nelligan—signals a disciplined path to unlocking Bodo's value.

2025 Catalysts: Drilling, VTEM, and Data-Driven Discovery

The coming months will be decisive. Bullion Gold's 2025 plan includes:
1. VTEM-Mag Surveys: Drone-based electromagnetic and magnetic surveys to map conductive sulfide zones, which could pinpoint lithium pegmatites and VMS deposits.
2. Drilling at Lac Rivon and Canico: Targeting high-grade gold-silver-copper intersections, with assays expected to validate historical results.
3. Geochemical Sampling: Expanding the 2024 MRNF survey to map lithium and cobalt anomalies across the western zones.

These campaigns aim to deliver a maiden resource estimate by mid-2026, with a key inflection point expected in Q3 2025 as drilling results emerge.

The Investment Case: Underappreciated Scale, Overlooked Potential

Bodo's 410 km² land package remains vastly underexplored, with only 20% of its target zones drilled to date. At current commodity prices, even a modest resource of 1 million ounces of gold, 100 million lbs of copper, and 100,000 tonnes of lithium could justify a valuation multiple of 5–10x today's stock price.

The market has yet to recognize Bodo's full potential:
- Valuation Discount: Bullion Gold trades at 0.1x its peers' NAV per share, despite controlling a project with comparable scale to Quebec's Val-d'Or gold camp.
- Critical Minerals Tailwinds: Lithium and cobalt demand is set to grow at 12% and 8% CAGR, respectively, through 2030 (USGS).

Conclusion: A Catalyst-Driven Opportunity at a Critical Inflection Point

Bodo is a rare blend of strategic mineral exposure, geological richness, and leadership pedigree. With 2025 exploration campaigns set to de-risk the project and lithium/cobalt prices near historic highs, investors have a narrow window to capitalize on this undervalued asset. For those focused on the next leg of the critical minerals boom, Bodo is not just an investment—it's a bet on Quebec's next mining legend.

Act now—before the market catches up.