BonTerra Resources (TSXV:BTR)
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1 Year : From Dec 2018 to Dec 2019
VAL-D'OR, QC, March 4, 2019 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) ("Bonterra" or the "Company") is pleased to announce results from its recently completed underground drilling campaign at the Barry project, with new high-grade gold mineralization intersections in various zones.
Drilling highlights include:
- 13.4 g/t Au over 3.2 metres in hole BR18-03
- 8.2 g/t Au over 5.3 metres in hole BR18-05
- 15.4 g/t Au over 2.3 metres in hole BR18-08
- 157.6 g/t Au over 1.3 metres in hole BR18-12B
- 15.5 g/t Au over 4.5 metres in hole BR19-25
These results are from Bonterra's diamond drilling campaign undertaken on the Barry Deposit during Q4 2018 and Q1 2019. The program consisted of 25 sub-horizontal drill holes totaling 7,548 metres. This campaign was successful in confirming the multiple gold zones utilizing 20- to 30-metre drill spacings, mainly on Level 100 (see attached figure). Most of the drill holes intersected gold mineralization where it was anticipated based on our current models.
Greg Gibson, Interim CEO, states: "We are extremely pleased with our recent underground drilling campaign at Barry which has proven to be a large success, attesting to the robust continuity and grade of the deposit. This new drilling data on the Barry deposit will be included in the upcoming property-wide resource estimate."
The definition drilling campaign validates the location and grade of the gold-bearing zones at Barry and will allow for the planning of a proposed bulk sample in the upcoming months. The company also intends to increase the size of the Barry deposit by drill-testing multiple mineralized shears and tensional veins that remain open at depth along strike and down-dip.
The gold mineralization at the Barry project is structurally controlled and is hosted in a sheared basalt containing quartz-carbonate-albite veins with pyrite. Bonterra has identified five main sub-vertical and sub-parallel shear zones and approximately ten secondary more shallow-dipping tension veins. These structures are open in all directions.
*Stated lengths are core width as drilled, true widths vary and average between 75 and 90 percent of drilled widths.
Please see http://www.bonterraresources.com/projects/barry-deposit/ for an updated plan map and long section of the Barry deposit.
Quality Control and Reporting Protocols
The Company uses a rigorous QA-QC analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The company's QA-QC analytical verification program requires that a minimum of 10% of the samples be audited at an independent laboratory. These audit assays were sent to ALS laboratory located in Val-d'Or, Quebec. The results of the audits are consistent with those obtained.
Bonterra Resources Quick Facts:
- Advancing three high-grade gold deposits; Gladiator, Barry and Moroy with 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
- Property-wide NI 43-101 Mineral Resource Estimate underway to include the Gladiator, Barry and Moroy deposits
Pascal Hamelin, P.Eng., VP Operations, is the Qualified Person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.
Cautionary and Forward-Looking Statements
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". Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." These forward-looking statements include, but are not limited to, statements with respect to planned exploration programs, costs and expenditures, changes in Mineral Resource estimates, potential growth in Mineral Resources, conversion of Mineral Resources to proven and probable Mineral Reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves. 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 labour relations matters. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information.
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SOURCE Bonterra Resources Inc.