Bonterra Expands Mineralized Width and Grade at Gladiator Gold Deposit with Significant Results on Multiple Zones; 18.5 g/t Au over 4.0 m Intersected in the South Zone
Vancouver, BC – December 5, 2017: Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce continued success from its ongoing Resource Development Program at the Gladiator Gold Deposit. Drilling has further increased the size of the high-grade core area of the South Zone, with 18.5 g/t Au over 4.0 m drilled in hole BA-17-42A, and significant width and grade was also encountered in the Footwall Zone within drill hole BA-17-48, which yielded 10 g/t Au over 6.3 m. Additional drilling results received also extended the North Zone down plunge and to the east. The Company is aggressively completing its 2017 Resource Development Program, with four diamond drill rigs completing a 50,000 m program. Multiple holes are currently in the lab awaiting completion with assays pending.
Highlights and Observations:
- Drill holes BA-17-42A (18.5 g/t Au over 4.0 m) and BA-17-44 (11.9 g/t Au over 3.2 m) in the South Zone increase and further define the size of the high-grade core area.
- Holes BA-17-42A and BA-17-48 improve the definition of the high-grade core of the Footwall Zone, with significant grade and width in hole BA-17-48, which intersected 10.1 g/t Au over 6.3 m.
- Holes BA-17-42, BA-17-43B and BA-17-46 confirm the eastern continuity of the North Zone, with BA-17-42 intersecting 9.6 g/t Au over 3.0 m. This recent drilling also extends the North Zone down plunge to the east.
- Results from seven recent drill holes have expanded the size and demonstrate the continuity of the North, Footwall and South Zones.
- To date, continuity of mineralization is now confirmed over a total drilled strike length on at least two horizons (Main and Footwall) of 1,200 m, as well as a drilled depth of 1,200 m.
Dale Ginn, VP Exploration, stated, “Drill results from Gladiator continue to demonstrate superior widths and grades in all five of our defined zones to date. These mineralized zones are not only visible with sharp contacts, but are continuous and highly predictable. Stand alone high-grade gold deposits in Canada, especially with extensive infrastructure and easy access, are extremely rare and valuable and we look forward to demonstrating that Gladiator is among that class.”
The Company plans to mobilize two additional drills (totaling six) to the property to support the expanding Resource Development Program at Gladiator. The upcoming winter drilling campaign will focus on further defining the Gladiator Gold Deposit to advance the completion of an updated NI 43-101 Mineral Resource Estimate in 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://www.bonterraresources.com/en/gladiator/maps-sections for updated maps, including long sections and cross sections.
Bonterra Resources Quick Facts:
- Well financed with $40 million raised in 2017.
- Strong Shareholder Base: Eric Sprott (10%), Van Eck Gold Fund (12%), Kirkland Lake Gold (9.5%), Kinross (7.5%).
- Gladiator Gold Deposit:
- Deposit extension and resource expansion underway utilizing minimum of four drill rigs with 50,000 m to be completed in 2017; up to six rigs in 2018.
- Advancing to the completion of an updated NI 43-101 Mineral Resource Estimate in 2018, which is anticipated to include up to an additional 100,000 m of drilling from 2015 through 2018.
- Drilled dimensions of the Gladiator Deposit are currently outlined to a depth of 1,200 m below surface, and a strike length of 1,200 m.
- Gladiator remains open in all directions, where at least five distinct sub parallel zones or mineralized horizons have been identified.
- Drilling currently focuses the continued expansion of Gladiator Gold Deposit, and drill testing of the Coliseum Gold Zone to the southwest.
- 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.