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Larder Project

Larder Lake Project, Ontario

Bonterra’s Larder Lake Gold Project (2,165-hectare is located in eastern Ontario, in McVittie and McGarry Townships, near the town of Virginiatown. The Bear Lake deposit hosts a historic estimate* (2011, P+E Mining) of 3,750,000 tonnes at 5.7 g/t (683,000 oz) (inferred).  The Cheminis Deposit contains a historic estimate* (2011, P+E Mining) of indicated of 335,000 tonnes at 4.1 g/t (43,800 oz) and inferred of 1,391,000 tonnes at 5.2 g/t (233,400 oz). Please refer to cautionary information above regarding historic estimates. The Larder Lake Gold Property also straddles 9 km strike length of the Cadillac/Larder Lake break.

Central to the Larder Lake Gold Property is the Cheminis property (the "Cheminis Mine"), which includes a vertical shaft to a depth of 1,085 feet, with six levels of which the deepest is at 1,035 feet. Intermittent past production from the Cheminis Mine has totaled approximately 260,000 tons at a recovered grade of approximately 0.104 ounces Au/ton. Gold Fields entered into an option in 2012 to earn a 60% interest in the Bear Lake properties by spending $40 million in exploration and development.  After year of work/  $6MM/ 59 Holes, Goldfields pulled exploration activities world wide., and terminated their option in 2015; the 59 holes have not been added to the current geological model.

Bonterra is currently modelling the Larder Lake Gold project to update the resource to a current 43-101 Compliant Resource.

Greenstone Map

Larder Lake Project

Disclosure of Historical Estimates*:
The Larder Lake Project contains a historical resource estimate completed in August 15, 2011 by P&E Mining Consultants titled “43-101 Technical Report and Updated Resource Estimates on the Larder Lake Property, Larder Lake, Ontario for Bear Lake Gold Ltd.” BonTerra considers this resource estimate to be historical; it has not independently verified them, and therefore they should no longer be relied upon. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and BonTerra is not treating the historical estimate as current mineral resources.

*2011 Total Resource Estimate @ 2.5 g/t Au Cut-Off Utilizing Gold Price of US$1,207/oz

Classification Tonnes Grade
(Au g/t)
Contained Ounces
Au
Indicated 335,000 4.07 43,800
Inferred 5,141,000 5.55 917,000
  August 15, 2011 – P&E Mining Consultants NI 43-101 Technical Report Download  

 

The Larder Lake Property is located in eastern Ontario, in McVittie and McGarry Townships, near the town of Virginiatown. The Bear Lake deposit hosts an inferred mineral resource* (2011, P+E Mining) of 3,750,000 tonnes at 5.7 g/t (683,000 oz). 

The Cheminis Deposit contains an indicated mineral resource (2011, P+E Mining) of 335,000 tonnes at 4.1 g/t (43,800 oz) and inferred of 1,391,000 tonnes at 5.2 g/t (233,400 oz).

Extensive infrastructure including a paved highway crosses the length of the property, various areas of the project are easily accessible by truck or all-terrain vehicles on non-serviced roads and trails, and an Ontario Hydro power line also runs along the length of the property.

Central to the Larder Lake Gold Property is the Cheminis property (the "Cheminis Mine"), which includes a vertical shaft to a depth of 1,085 feet, with six levels of which the deepest is at 1,035 feet. Intermittent past production from the Cheminis Mine has totaled approximately 260,000 tons at a recovered grade of approximately 0.104 ounces Au/ton.

Gold Fields entered into an option in 2012 to earn a 60% interest in the Bear Lake properties by spending $40 million in exploration and development.  After 3 years of work, they terminated their option last year when Gold Fields terminated all exploration activities worldwide.  Kerr Mines is in possession of their results and data.

Cheminis Bear Lake Property Map

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