Bonterra Intersects 30.5 g/t Gold over 2.0 m and Expands on High Grade Zones at Gladiator Gold Deposit
Vancouver, BC – July 11, 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 30.5 g/t Au over 2.0 m, increasing the down plunge size of the South Zone high-grade extent, and demonstrating continuity of mineralization.
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-18-43 extends the North Zone in the east side of the deposit with 11.4 g/t Au over 1.0 m. BA-18-43 was drilled as a follow up to BA-18-36, which intersected 8.4 g/t Au over 3.0 m (see news release dated June 13, 2018). These intersections expand the North Zone 150 m east at approximately 500 m below surface.
- Hole BA-18-40, intersected the North Zone in the West end Rivage area, extended the depth of known mineralization to 300 m below surface with 6.3 g/t Au over 1.0 m.
- BA-18-41 intersected the Footwall Zone with 10.3 g/t Au over 2.1 m, extending the high-grade shoot down plunge further to the east.
- BA-18-42 expanded a high-grade shoot in the Footwall Zone eastward with 18.7 g/t Au over 2.0 m, increasing definition of the zone at 300 m depth.
- Infill hole BA-18-39 intersected both the Main Zone with 19.8 g/t Au over 1.5 m and the South Zone with 30.5 g/t Au with 2.0 m. These intersections increase the overall size of the mineralized zones and increase the confidence of the high-grade shoots between 350 m and 400 m below surface.
- 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.
“The resource development program continues to be extremely successful in terms of the extension of mineralized zones and in terms of demonstrating high grades throughout. Most significantly however is how well we have shown continuity down dip and along strike for all five of the primary zones to date. High grades that were encountered on both the west side of the deposit and the down plunge of the east side are obviously significant to the deposit as a whole,” commented Nav Dhaliwal, President and CEO of Bonterra.
Positive drilling results in both the Rivage area and eastern part of the deposit continue to increase the dimensions of known 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.