BonTerra Extends Mineralization Over 200 Meters Down Dip at Gladiator Gold Project Second Hole BA-15-02 Intersects 7.2 g/t Au over 7.7 Meters
Vancouver, BC – December 2, 2015: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF) (the “Company” or “BonTerra”) is pleased to announce additional positive drill results of 7.2 g/t Au over 7.7 meters from Hole B-15-02 of its 2015 Phase 1 Exploration Program on its 100% owned West Arena Gold Property, within the Gladiator Gold Project located north of Val d’Or, Quebec and within the world famous Abitibi Greenstone Belt. To date, four drill holes have been completed, with assays pending for the final drill holes BA-15-03 and BA-15-04.
Nav Dhaliwal, President and CEO, stated: “Hole BA-15-02 is significant for BonTerra shareholders and the Gladiator Gold Project. The intersection clearly indicates that the mineralization continues an additional 200 meters down dip, and demonstrates the overall strength of the gold system with the solid grade of 7.2 g/t gold over a width of 7.7 meters. Additionally, it is important to note that this intersection point lies approximately 200 meters below BonTerra’s current 43-101 mineral resource estimate competed in 2012. Finally, we are excited to have also discovered a mineralized and altered felsic porphyritic intrusion grading 0.5 g/t over 155.5 meters, indicating once again a strong mineralized system exists at the Gladiator Project.”
Key Take-Away Points from Recent Assay Results:
- Mineralization from Hole BA-15-02 encountered the Main Zone at 400 meters below surface and graded 7.2 g/t gold over 7.7 meters.
- Hole BA-15-02 represented a step out of over 200 meters in a down dip direction from the BA-15-01 (announced November 4, 2015) which graded 14.0 g/t gold over 6.6 meters.
- The BA-15-02 intersection is located approximately 200 meters below the Company’s current mineral resource depth limit (Snowden July 2012).
- A newly discovered Footwall Zone (“FW”) was discovered approximately 60 meters and 100 meters below surface in BA-15-01 and BA-15-02, respectively. Further results from BA-15-01 assayed 9.1 g/t over 3.5 meters and BA-15-02 assayed 4.7 g/t over 2.5 meters (see below table).
- Immediately above the BA-15-02 intersection, a mineralized and altered felsic porphyritic intrusion also assayed 0.5 g/t over a core length of 155 meters.
- The emergence of multiple parallel zones and especially of a large mineralized felsic intrusive is a great indicator of a very strong system.
All results from the first and second holes of the 2015 campaign are tabled below. A third and fourth hole are awaiting assay.
* Width is expressed as core width, true width has not yet been determined.
Geological Review of Mineralized Zones
Gold mineralization is predominantly contained within quartz-carbonate veining and associated alteration related to shearing, faults, folds and other typical structural controls.
The Main Zone is defined as a highly silicified and altered sheared contact between mafic volcanics and an altered and mineralized syenite, locally exhibiting quartz porphyritic textures. Smoky quartz veining also occurs locally both in the contact zones and the larger felsic intrusive syenite unit. These veins contain the bulk of the mineralization and free gold, as well as tourmaline and chlorite occupying fractures. A third upper or footwall zone also occurs at the sheared contact between mafic volcanics and a mafic intrusive sill or gabbro and displays similar mineralization and alteration as the main zone. Mineralization consists of minor (trace to 2%) pyrite, chalcopyrite and yellow sphalerite throughout but most especially in and near the contacts with the quartz veining.
Please refer to the Company’s website (http://bonterraresources.com/en/2015-drill-program) for detailed cross sections depicting the geology and intersections.
About Gladiator Gold Project and 2015 Drill Program
The Gladiator Project is located in the Urban-Barry Greenstone Belt and is comprised of three properties: West Arena, East Arena, and Coliseum Properties. The Gladiator Project is located approximately 170 km northeast of Val-d’Or. The Barry Gold Deposit and open pit, controlled by Metanor Resources Inc., are located along strike immediately to the west of the Coliseum property. The Windfall Gold Deposit, controlled by Oban Mining Corp., also lies directly north of the Company’s Gladiator Project. The 2015 Phase 1 drilling is targeting the plunge and strike extensions of the Company’s newly-discovered Spartacus Trend gold zones, which are located within the West Arena Gold Property.
The Spartacus Trend is identified as a northeast trending shear zone primarily within mafic volcanic units that host local intrusions of syenite and gabbro. To date, the deposit has been drilled over a 500-meter strike length from surface and consists of a number of parallel, anastomosing and intersecting steeply dipping shear zones. Two additional parallel trends have been identified by a geophysical signature and limited drilling, namely the Crixus Zone to the north and the Gannicus Zone to the south, where each trend is separated by approximately 500 meters. The Coliseum Property is situated immediately to the west along strike from the Spartacus and Crixus trends.
Drill core is split, with half sent for assay at ALS Canada Ltd. located in Val d’Or, Quebec. The other half is secured and retained on site. A program of blank and standard insertion into the sample stream is also conducted. The samples are processed using fire assay with an aa finish, gravimetrics and screen metallics are performed on samples with assays of 10 g/t or higher.
Dale Ginn, P.Geo. has approved the information contained in this release. Mr. Ginn is a Director and Vice President of Exploration for BonTerra and is a Qualified Person as defined by NI 43-101.
BonTerra Resources Quick Facts:
- Currently drilling at its 100% owned Gladiator Gold Project to expand current gold resource.
- BA-15-01 intersected 14.1 g/t Au over 6.6m (announced November 4, 2015)
- BA-15-02 intersected 7.2 g/t Au over 7.7m (announced December 2, 2015)
- Located in the Abitibi Greenstone Belt in mining-friendly Quebec.
- Using a 4 g/t cut-off grade, the project currently contains an inferred resource of 905,000 tonnes, grading 9.37 g/t for 273,000 ounces of gold. Of note, ~90% of the worlds operating mines have an average gold grade less than 8 g/t.
- ~36 million shares outstanding and debt free.
- Most recent financing: ~$2.5 million (Oban Mining Corp. became largest shareholder at 19% holdings - see news release dated July 7, 2015).
For further information, please contact Nav Dhaliwal, President, at firstname.lastname@example.org.
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.