BonTerra Extends Gladiator Zone 100 Meters Westward With 9.0 g/t Gold Over 5.0 Meters Near Surface
Vancouver, BC – March 2, 2016: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “BonTerra”) is pleased to announce that it has received assays from the first two holes (BA-16-01 and BA-16-03) from its 2016 Exploration and Drill Program on its 100% owned Gladiator Gold Project located north of Val d’Or, Québec.
Drilling so far has extended all zones 100 meters to the west of previously known limits most notably in the Main zone with a high grade near surface intersection of 9.0 g/t over 5.0 m in hole BA-16-03. BA-16-03 was a shorter probe hole located to test only for the western extension of the Main zone near surface. Drill hole BA-16-01 intersected three zones, most notably the broad and mineralized intrusive unit at approximately 300 meters in depth, extending this zone another 100 meters to the west. Visible gold was noted in the Main zone at 355 meters in hole BA-16-01.
Nine holes have been drilled to date in 2016 and are in various stages of assay or logging. Two drills continue western extension drilling while excellent winter conditions permit. A third drill is on site and will be operational as soon as supporting logistics and extra staff are in place.
Nav Dhaliwal, President and CEO of BonTerra, stated: “We continue to expand on the limits of gold mineralization at the Gladiator Gold Project. The near surface high-grade extension is exciting and we will adjust our targeting program to incorporate this new information.”
Please see surface plan on the Company’s website: http://www.bonterraresources.com/images/surface_plan.jpg
Robert Gagnon, Geo. has approved the information contained in this release. Mr. Gagnon is a Director for 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 worlds 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.
- Located in the Abitibi Greenstone Belt in mining-friendly Québec.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc.
For additional information, please contact:
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" 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.