Bonterra Continues to Expand the Gladiator Gold Deposit and Intersects 15.3 g/t Gold over 2.7 m
Vancouver, BC – July 17, 2018: Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce the latest drilling results from the ongoing Resource Development Program at the Gladiator Gold Deposit, including an intersection of 15.3 g/t Au over 2.7 m, extending the Footwall Zone down-plunge to the east. Recent drilling results extended mineralization along multiple zones and continues to demonstrate the continuity of the high-grade gold mineralization at depth and along strike at the Gladiator Deposit.
Highlights and Observations:
- Infill and extension drill results continue to demonstrate the continuity of the deposit, highlighting the predictability of the mineralized zones.
- Hole BA-18-54 intersected the Footwall Zone with 15.3 g/t Au over 2.7 m approximately 500 m below surface. This intersection increases the Footwall Zone considerably in both size and grade, expanding the potential down plunge.
- This intersection increases the Footwall Zone considerably in both size and grade, expanding the potential down plunge.
- Step out hole BA-18-44 intersected the Footwall Zone with 9.1 g/t Au over 2.0 m, expanding mineralization westwards in the Rivage area, and opens the zone to depth on westside of the deposit.
- Hole BA-18-49A intersected the North Zone in the Rivage area with 12.2 g/t Au over 1.5 m, extending the depth, and opened up new high-grade mineralization down plunge to 300 m below surface.
- Hole BA-18-50 intersected the South Zone at 300 m below surface, proving the predictability of the geological model and adding definition to the high-grade chute recently defined at the east side of the deposit.
- BA-18-48 intersected the North Zone and expanded the high-grade chute up plunge towards surface in the east side of the deposit with 12.6 g/t Au over 1.3 m.
- To date, continuity of mineralization is now confirmed over a total drilled strike length on at least four horizons (North, Footwall, Main and South) of 1,200 m, as well as a drilled depth of over 1,000 m.
Positive results from step out drilling in both the Rivage and eastern areas of the deposit continue to indicate the potential for further expansion of the Gladiator Deposit along defined high-grade chutes and highlights the predictability of the geological model. Infill drilling at the Gladiator Deposit also validates the model and demonstrates the continuity of the mineralization. The resource development program continues with five drills at the deposit focused on infill and step-out drilling in preparation for the updated mineral resource estimate in Q4 2018.
*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.
Please see http://bonterraresources.com/projects/gladiator-project/maps-sections/ for updated maps including long sections and cross sections.
Bonterra Resources Quick Facts:
- Well financed with approximately $65 million raised since 2017.
- Strong Shareholder Base including: Eric Sprott, Van Eck, Kirkland Lake Gold
- Gladiator Gold Deposit:
- Deposit extension and resource expansion underway with 60,000 m completed in 2017 and 70,000 m planned for 2018.
- Advancing to the completion of an updated NI 43-101 Mineral Resource Estimate in the Q4 2018.
- Drilled dimensions of the Gladiator Gold Deposit are currently outlined to a depth of over 1,000 m below surface and a strike length of 1,300 m.
- Gladiator remains open in all directions, where at least six distinct sub-parallel zones or mineralized horizons have been identified.
- Drilling is currently focused on the continued expansion of Gladiator Gold Deposit and exploration targets within the 10,541-hectare Urban-Barry property.
- Larder Lake Gold Property:
- 100% controlled 2,221-hectare in the Cadillac-Larder Break camp in Ontario (refer to March 17, 2016 news release highlighting historical gold resource).
- Excellent access to three high grade gold deposits between Kirkland Lake and Virginiatown.
Robert Gagnon, P.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.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
Bonterra Resources Inc.
For further information on Bonterra, contact Investor Relations
Telephone: 1 844 233 2034
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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.