BonTerra Defines A NI 43-101 Compliant Inferred Gold Resource of 492,000 Ounces on Its Eastern Extension Property
13 Juin 2012 - 6:05PM
Marketwired Canada
BonTerra Resources Inc. (TSX:BNE) (the "Company", "BonTerra") is pleased to
announce the release of a National Instrument 43-101 ("NI 43-101") compliant
inferred resource estimate for its 100% owned Quebec gold property, the Eastern
Extension (the "Property"). The mineral resource estimate includes the results
of 12,543 metres of core drilling completed on the Property in 2011. The
resource estimate, completed by Snowden Mining Industry Consultants Inc.
("Snowden") of Vancouver, British Columbia is constrained by geologic domains
consisting of ten vein structures. Using a 1.0 g/t cutoff, the Property contains
inferred gold resources of 4,337,000 tonnes grading 3.53 g/t for 492,000 ounces.
BonTerra has been able to define this resource with the drilling performed in
the past two years. The Company intends to file a complete Technical Report on
SEDAR within 45 days of this release as required by NI 43-101. The inferred
resource estimate is set out in Table 1 below and reported as a series of cut
off grades.
Table 1: Inferred Resource Estimate for the Eastern Extension Property
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Cut off Grade Metric Gold Grade
(grams/tonne) Tonnes (grams/tonne) Gold Grams (000) Gold Ounces
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1.0 4,337,000 3.53 15,314 492,000
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2.0 2,266,000 5.29 11,976 385,000
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3.0 1,170,000 7.97 9,328 300,000
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4.0 905,000 9.37 8,479 273,000
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5.0 863,000 9.50 8,200 264,000
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6.0 778,000 9.94 7,735 249,000
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7.0 673,000 10.46 7,036 226,000
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8.0 513,000 11.44 5,870 189,000
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9.0 409,000 12.27 5,018 161,000
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Highlights of the NI 43-101 Compliant Inferred Resource Estimate:
1. BonTerra has defined the resource by spending approximately $3.5 million
in under two years and drilling 13,919 metres of core. This has resulted
in an inferred gold resource of 4,337,000 tonnes grading 3.53 g/t (1.0
g/t cut off) for 492,000 ounces of gold.
2. With a very high cutoff grade of 6.0 g/t, there is an inferred gold
resource of 249,000 ounces with an average grade of 9.94 g/t. This
demonstrates grade stability.
3. The inferred resource estimate was completed by Snowden, amongst the
most respected of global mining consulting firms.
4. Management believes there is potential for expansion with further
drilling as the existing inferred resource is open to the northeast,
southwest and down dip. In addition, BonTerra's Rivage Zone was not
included in the existing resource estimate.
5. The Urban-Barry gold camp additionally hosts two other gold projects
with NI 43-101 compliant resources. These consist of Windfall Lake and
the Barry Deposit.
The 5,917 metres of drilling BonTerra completed in 2012, which includes the
Rivage Zone ("Rivage"), is not included in the existing inferred resource
estimate. There are assays pending for six holes. The highlight of this 2012
drilling was the Rivage which assayed 73.82 g/t gold over 3.0 metres in
BA-12-10, which included 1.0 metre of 220.0 g/t gold. This drill hole at the
Rivage was collared approximately 120 metres from the Rivage discovery outcrop.
A chip sample taken from this outcrop in the fall of 2011 assayed 204 g/t gold.
Navjit Dhaliwal, President states, "BonTerra is very proud to have received such
a great first ever resource estimate from Snowden for our gold property. It is
not common for a junior company like BonTerra Resources to develop an asset of
such high potential in such a short period of time. We feel this resource
estimate completed by Snowden solidifies BonTerra as a leading junior gold
explorer in Quebec's Abitibi Greenstone Belt. This also speaks volumes about the
high quality of the Property as well as all of our team in Vancouver and Val
d'Or."
Inferred Mineral Resource Estimate:
Information in this news release that relates to the inferred mineral resource
estimate has been reviewed and approved by Walter A Dzick CPG, AIPG, who is a
Qualified Person under the definitions established by NI 43-101. He is
independent of BonTerra and an employee of Snowden Mining Industry Consultants
Inc., Vancouver, British Columbia.
This technical content of this press release has been reviewed and accepted by
Thomas Clarke, Pr.Sci.Nat., a Director of BonTerra. Mr. Clarke is a Qualified
Person under NI 43-101.
The Property is situated approximately 170 kilometres northeast of Val d'Or,
Quebec in the Abitibi Greenstone Belt. Snowden conducted the gold resource
estimate on behalf of BonTerra. Through the end of 2011, the Property has had a
total of 108 diamond drill holes totaling 23,165 metres of diamond drilling as
shown in Table 2 which includes historical drilling. BonTerra has also completed
15 diamond drill holes for 5,917 metres in 2012. These drill holes were not
utilized for the current resource estimation.
Table 2: Summary of All Drilling on the Eastern Extension Property
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Description With Relation
Company Years Total Total to Inclusion in the
Responsible Drilled Metres Holes Resource Estimate
----------------------------------------------------------------------------
BonTerra 2010 1,346 9 Included in the resource
estimate
----------------------------------------------------------------------------
BonTerra 2011 12,573 40 Included in the resource
estimate
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Xemac Various 9,246 59 Included in the resource
estimate area
----------------------------------------------------------------------------
Total Drilling BonTerra 19,836 64
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Total Drilling Xemac 9,246 59
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Grand Total all Drilling 23,165 108
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As previously reported, BonTerra has focused its geological program on
assessment of the quartz veins that appear to be spatially associated with
syenite porphyry dykes in the Eastern Extension area. The dyke and several
associated gold bearing quartz veins have been defined over a strike length of
1,000 metres, to a depth of 700 metres.
The database used by Snowden contains 108 surface diamond drill holes (total of
23,165 metres; average length 215 metres). Fourty drill holes were completed in
2011. Geological information from all drill cores was used to develop the
geological interpretation.
A Vulcan block model with cell dimensions of 2 metres (X), 2 metres (Y), 2
metres (Z) was coded to reflect surface topography, syenite porphyry dykes, and
the quartz vein domain solids.
Gold grades were estimated from 1 metre length weighted composited into the
interpreted mineralized blocks by ordinary kriging using parameters established
from analysis of the variography within each domain. Based on the variographic
analysis search ellipses were created to enable a three pass approach to
interpolate gold grades into the blocks. Minimum and maximum numbers of
composites were set to 2 and 12 per block respectively utilizing a top cut of 58
grams per ton. Discretization was set to 2 x 2 x 1. Density factor of 2.78
grams/cc were assigned to the mineralized veins based on 10 measurements of
specific gravity performed by BonTerra.
Snowden has applied an inferred classification to all blocks in the mineral
resource. Snowden has not classified any measured blocks after considering the
relatively short ranges of gold grade continuity, the current drill hole
spacing, the relatively high nugget environment, and use of assigned densities.
Mineral resources are not mineral reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the mineral resource
will be converted into mineral reserves. In the above mineral resource table
there may be inconsistencies due to rounding. Estimates are rounded since the
figures are not precise calculations.
About BonTerra Resources
BonTerra is a Canadian gold exploration company based in Vancouver, BC. BonTerra
is focused on continuing to expand the drill defined gold zones on its Eastern
Extension property, part of the world famous Abitibi Greenstone Belt in mining
friendly Quebec. BonTerra has a total of three gold properties in the
Urban-Barry belt, the Eastern Extension, Lavoie and Urban-Barry properties which
are all located approximately 170 km NE of Val-d'Or and 125 km SW of Chibougamau
in the Urban, Barry and Bailly townships in Quebec.
The Company owns 100% of the Property subject to a 2% NSR which is held by three
individuals, 1% of this NSR can be purchased for a sum of $500,000.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
Thomas Clarke, Director
This press release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements based on
current expectations involving a number of risks and uncertainties and are not
guarantees of future performance of the Company, such as the statement that: (i)
the Company intends to file a NI 43-101 Technical Report with respect to the
inferred resource calculation within 45 days of the press release; (ii) the
Company intends to undertake additional drilling to upgrade the existing
inferred resource calculation into the indicated category and to increase the
existing inferred mineral resource; and (iii) management believes there is
potential for expansion with further drilling as the resource is open to the
northeast, southwest and down dip. There are numerous risks and uncertainties
that could cause actual results and the Company's plans and objectives to differ
materially from those expressed in the forward-looking information, including:
(i) adverse market conditions; (ii) delays with respect to drilling and receipt
of drill results; (iii) delays with respect to finalizing the Technical Report
for filing on SEDAR and regulatory reviews and comments related to same; and
(iv) general uncertainties with respect to mineral exploration in general.
Actual results and future events could differ materially from those anticipated
in such information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the dates they
are made and are expressly qualified in their entirety by this notice. Except as
required by law, the Company does not intend to update these forward-looking
statements.
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