BonTerra Resources (TSXV:BTR)
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6 Months : From May 2019 to Nov 2019
VAL-D'OR, QC, June 12, 2019 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) ("Bonterra" or the "Company") is pleased to announce drill results from the ongoing exploration campaign at its 100%-owned Gladiator, Moroy and Barry projects. The objective of the current drilling campaign is to step out from known mineralization included in the Company's recently released mineral resource estimate on the three projects.
The current drilling at Gladiator extends gold mineralization on both the Barbeau and North Zones. Drill hole BA-19-40 intersected 101.1 g/t Au over 3.9 m on the Barbeau zone, approximately 50 m down-plunge of the known mineralization. Drill hole BA-19-37 intersected 8.1 g/t Au over 1.8 m on the North Zone, approximately 50 m down-plunge of the known mineralization. See section for location.
Ongoing exploration at the Moroy project includes both underground and surface drilling. Drill hole MY-19-155 intersected 12.8 g/t Au over 5.6 m and drill hole MY-19-158 intersected 12.2 g/t Au over 5.4 m. This drilling has extended the known mineralization by 150 m in the down-plunge direction. Surface drilling also succeeded to extend the mineralization by 150 m up-plunge with hole MO-19-227 that intersected 3.6 g/t Au over 2.3 m. The Moroy Deposit remains open at depth and along strike. See section for holes locations.
The current drilling campaign has extended known mineralization along strike and at depth on multiples zones. Hole MB-19-209 intersected 8.7 g/t Au over 1.5 m and 6.1 g/t Au over 2.0 m on zone H1, approximately 75 m deeper than known mineralization. In the same zone, Hole MB-19-211 extended H1 zone at depth by 250 m with 6.3 g/t Au over 1.5 m. Hole MB-19-206 also extended mineralization by 200 m at depth with 5.9 g/t Au over 1.5 m. See sections for location.
*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.
Greg Gibson, Chairman and Interim CEO commented: "These recent encouraging drill results bode well for the expansion of the current resource. The Company now has five drill rigs working on the current exploration-drilling program on its three projects with multiple targets currently being tested to expand the gold mineralization footprint."
Bonterra Resources Quick Facts:
- Control of three high-grade gold deposits (Gladiator, Barry and Moroy) and significant regional targets
- 100% ownership of the Urban-Barry Mill, the only permitted gold mill in the region
- Strong shareholder base including Wexford, Eric Sprott and Kirkland Lake Gold
- Property-wide NI 43-101 Mineral Resource Estimate recently updated with a combined resource of 55,000 Oz Au Measured, 643,000 Oz Au Indicated and 1,405,000 oz Au Inferred.
Quality Control and Reporting Protocols
Bonterra estimates that the actual thicknesses of the mineralized intersections are between 65% and 80% of the core lengths. No capping grade is used at this stage. 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 5% 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.
Pascal Hamelin, P.Eng. has approved the information contained in this release. Mr. Hamelin, Bonterra's VP Operations, is a Qualified Person as defined by NI 43-101.
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.
Cautionary and Forward-Looking Statements
This press release contains "forward-looking information" that is based on Bonterra's current expectations. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes namely, information with respect to the legal proceedings and Bonterra's successful contest thereof. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to uncertainties of the outcome of legal proceedings. 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.