Bonterra Further Extends the Gladiator Gold Deposit to the West Intersects 34.3 g/t Au over 2.8 m in the North Zone
Vancouver, BC – June 4, 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 34.3 g/t Au over 2.8 m, which further extended the South Zone to the west by approximately 50 m. Positive assay results from ten recent drill holes have extended the known dimensions of the mineralization in multiple zones westward and to surface at the Rivage Gap area.
“Our winter drill campaign has been completed and was successful in expanding and defining the Gladiator Gold Deposit. We are now excited to commence our spring and summer drill program, which will focus on further definition of the deposit for the upcoming resource update in the latter part of 2018, but to also test regional priority targets to the south west and north east,” commented Nav Dhaliwal, President and CEO of Bonterra.
Highlights and Observations:
- Hole BA-18-25 intersected 34.3 g/t Au over 2.8 m at the North Zone, extending the deposit westward by approximately 50 m in the Rivage area.
- Infill drill holes BA-18-14 and BA-18-22A confirm continuity of the South Zone at depth and the extend the South Zone under plunge with 19.8 g/t Au over 1.2 m in BA-18-22A.
- Hole BA-18-15 extends the Main Zone to surface at the Rivage Gap with 13.9 g/t Au over 2.0 m.
- Hole BA-18-19 extends the Footwall down plunge with 13.4 g/t Au over 1.0 m at 550 m below surface.
- Hole BA-18-20 extends North Zone to surface at the Rivage Gap area with 14.2 g/t Au over 1.0 m.
- Infill drill results continue to demonstrate the continuity of the deposit, highlighting the predictability of the mineralized zones.
- 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.
Winter Drilling Completed – Spring/Summer Drill Program Initiated
Bonterra has completed the winter drilling campaign, which was focused on step-out and definition drilling at the deposit. The campaign successfully extended the deposit westward, opening multiple zones for further expansion from surface to depth. Multiple drill holes from the winter drilling campaign are in the lab with assays pending.
The 2018 resource development program, comprised of 70,000 m of drilling at the Gladiator Gold Project continues with five active drills, four focused on the definition and expansion of the Gladiator Gold Deposit, and one drill focused on exploration targets west of the deposit. The Company is currently mobilizing a sixth drill to the St. Cyr Gold Prospect to follow up on drilling that was completed as part of the winter drilling campaign.
*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 second half of 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 1,200 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.
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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.