BonTerra Resources (TSXV:BTR)
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2 Years : From Dec 2017 to Dec 2019
VANCOUVER, Nov. 20, 2018 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXD, FSE: 9BR1) (the "Company" or "Bonterra") is pleased to announce that the Gladiator mineralized trend has been extended to over 4.5 km as a result of new drill results as well as new information gained through the Duke joint venture database. Drilling by Bonterra and by the previous owner of the Duke ground (Beaufield Resources Inc., now Osisko Mining Inc.) has resulted in Gladiator deposit extensions in both the east and west directions.
Drill hole BRS-17-11 was completed in 2017 by Beaufield in proximity to the Beaufield/Bonterra claim boundary approximately 2 km northeast of the known Gladiator deposit extent. This drill hole crossed into Bonterra claims at approximately 300 m depth below surface and encountered a broadly altered and mineralized zone that was identical in characteristics to the Gladiator deposit including the presence of visible gold. The hole was logged and sampled by Beaufield; however, it was not reported to Bonterra and it is unclear whether assays were obtained at the time. Since the Duke option deal was ratified with Beaufield, Bonterra has been able to retrieve the core and resample it resulting in an intersection of 7.7 g/t over 3.0 m. Additional holes obtained from the Duke database as well as new drilling completed by Bonterra have confirmed the extensions in both the east and west directions. Bonterra is now drilling follow up holes in and near the Duke option southern boundaries as it is now earning in to 70% of this ground from Osisko Mining (see BTR news release dated May 23, 2018).
Highlights and Observations:
- BRS-17-10 and BRS-17-11 were historic and re-sampled intervals indicating potential extensions of the Gladiator deposit to the northeast of up to 2 km with 8.7 g/t Au over 3.0 and 7.7 g/t Au over 3.0 m, extending the total Gladiator trend to 4.5 km.
- CL-17-31 intersected 5.5 g/t Au over 3.0 m at Coliseum zone 1 km to the SW of Gladiator deposit.
- BA-18-109 intersected 5.6 g/t Au over 1.5 m at the new Titan zone confirming the mineralized structure NE of Gladiator deposit.
The Coliseum Zone extension occurs 1 km south west of the Gladiator deposit along strike with 5.5 g/t Au over 3 m in a mineralized shear zone. The Titan Zone extension has been discovered 2 km northeast of the Gladiator deposit with results such as 7.5 g/ t Au over 3 m with visible gold hosted in a smoky quartz vein. The Titan zone is defined to date by 5 drill holes, 4 of them displaying visible gold. These two mineralized zones have structural and geological similarities to the Gladiator deposit and are on strike in both the east and west directions.
Historical drilling from previous operators were re-sampled based on current geological models and the results lead the team to the new discovery north east of the Gladiator deposit.
Two rigs are currently in operation to expand the footprint of the known mineralization. The Titan zone and Coliseum zone remain open in all directions.
*Stated lengths are core width as drilled, true widths vary and average between 60 and 80 percent of drilled widths. Core axis angles of the intersection contacts and surrounding rock units average 55 to 70 degrees.
**Drill hole previously released (see Beaufield news release dated October 16, 2017).
Nav Dhaliwal President and CEO of Bonterra stated: "Bonterra is consistently demonstrating the potential of gold discoveries on its land package in the Urban Barry Camp. The full potential of the Gladiator deposit and area can now be fully realized utilizing the complete land package consisting of the Duke option together with the original Bonterra lands. The recent results show that Bonterra is not only controlling several known gold deposits but sits on a major gold bearing structure that has not been fully exploited yet."
Please see http://bonterraresources.com/projects/gladiator-project/maps-sections/ for updated maps including long sections and cross sections.
Bonterra Resources Quick Facts:
- Control of three advanced high-grade gold deposits (Gladiator, Moroy and Barry) and significant regional targets
- 100% ownership of the Urban-Barry Mill, the only permitted gold mill in the region
- Strong shareholder base including: Eric Sprott and Kirkland Lake Gold
- New NI 43-101 Mineral Resource Estimate anticipated in 2018 for the Gladiator and Barry Deposits
Quality Assurance and Quality Control:
Bonterra estimates that the true thickness of mineralized intervals is between 60-80% of stated core lengths. No capping grade has been applied. NQ-sized drill core is saw cut with half of the interval sampled for analysis at ALS Laboratories in Val d'Or, Quebec and the remaining half is stored at the Gladiator project site. Sample intervals are selected based on geological criteria including lithology, mineralization and alteration. Blanks and certified reference standards are inserted every 25 samples. The company employs a QA/QC program consistent with NI 43-101 and industry best practices.
Pascal Hamelin, P.Eng., has approved the information contained in this release. Mr. Hamelin is the Chief Operating Officer of Bonterra's wholly-owned subsidiary, Metanor Resources Inc., and is a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
Bonterra Resources Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking information" that is based on Bonterra's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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SOURCE Bonterra Resources Inc.