BonTerra Commences Accelerated Drill Program with 2nd Rig Added at Gladiator Gold Project in Québec, Canada
Vancouver, BC – February 11, 2016: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “BonTerra”) is pleased to announce that a 2nd drill rig has been mobilized ahead of schedule to its 100% owned Gladiator Gold Project located north of Val d’Or, Québec.
A second drill was mobilized ahead of schedule and is now underway on the Gladiator Deposit as part of BonTerra’s 25,000-meter Phase 2 Program. The first two drills are taking advantage of favorable ice conditions and testing the down plunge and strike extensions approximately 75 to 400 meters west of the known deposit. The first hole, already underway, is targeting the Main, Intrusive and Footwall Zones approximately 75 meters to the west of current drill coverage. In addition, BonTerra is now planning to mobilize a third drill in the next few weeks, in order to test structural and geophysical targets that have been identified on the Western Coliseum and Eastern Arena Properties. These targets have similar signatures to the Gladiator Zone and are along strike in both the western and eastern directions.
Nav Dhaliwal, President and CEO of BonTerra, stated: “Our goal at the Gladiator Gold Project is to generate a clear understanding of the gold system along strike and at depth, and to build a resource model that clearly highlights the potential of our project. As one of the most active and aggressive companies in the Urban-Barry Gold Camp during 2015, we were able to define multiple targets and expand our understanding of the Gladiator gold system. Our solid technical team, led by Dale Ginn, is clearly setting the pace for an aggressive and successful 2016.”
Robert Gagnon, Geo. has approved the information contained in this release. Mr. Gagnon is a Director of BonTerra and is a Qualified Person as defined by NI 43-101.
BonTerra Resources Quick Facts:
- Using a 4 g/t Au cut-off grade, the project currently contains an inferred resource of 905,000 tonnes, grading 9.37 g/t Au for 273,000 ounces of gold. Of note, ~90% of the world’s operating mines have an average gold grade less than 8 g/t. Mineral Resource Estimate and Technical Report filed July 27, 2012, Snowden Mining Consultants.
- ~$3.5 million in Cash as at January 1, 2016; ~53 million shares outstanding.
- 2016 Exploration Program underway – up to 25,000 meters utilizing minimum of two drill rigs at its 100% owned Gladiator Gold Project to expand current gold resource.
- Results to date include 14.1 g/t Au over 6.6m and 7.2 g/t Au over 7.7m
- Located in the Abitibi Greenstone Belt in mining-friendly Québec.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc.
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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 labour 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.