VANCOUVER, Nov. 16, 2017 /CNW/ - Bonterra Resources Inc.
(TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce the identification of a
fifth new parallel gold zone at the Gladiator Gold Deposit. This
new "Barbeau Zone", intersected by six drill holes up to 800 m
below surface, was identified south of the "South Zone". The
Company is aggressively completing its 2017 Resource Development
Program, with four diamond drill rigs completing a 50,000 m
program. In addition, multiple holes are in the lab with assays
pending, and Bonterra expects to expand to six drill rigs during
the upcoming 2018 winter season.
Highlights and Observations:
- Two recent drill holes (BA-17-24 and BA-17-40A) at the
Gladiator Gold Deposit that indicate the potential of a new
parallel gold zone south of the "South Zone."
- BA-17-40A intersected 22.2 g/t Au over 1.9 m up to 800 m
below surface.
- The Barbeau Zone has been intersected by at least six holes to
date including BA-16-05 with 28.5 g/t Au over 3.3 m and
BA-16-07 with 20.7 g/t Au over 3.0 m.
- Multiple parallel gold zones have now been identified at
the Gladiator Gold Deposit and show a strong continuity at
depth.
- To date, continuity of mineralization is now confirmed over a
total drilled strike length on at least two horizons (Main and
Footwall) of 1,200 m, as well as a drilled depth of 1,200
m.
Dale Ginn, VP Exploration,
stated, "Our resource development program is focused on
expanding the Gladiator Gold Deposit. The identification of
Barbeau as a potential fifth parallel gold zone is exciting and
indicates the strength of the Gladiator gold system. Further
exploration of the new Barbeau Zone will be included in the winter
drilling campaign, where we expect to have six drill rigs operating
on the property. As we progress through the drill program, we
continue to gain an excellent understanding of the significant gold
system at Gladiator, which is leading to the accelerated
development of our geological model. We look forward to 2018 with
the completion of an updated resource estimate."
Hole
|
From (m)
|
To (m)
|
Length* (m)
|
Grade (g/t Au)
|
Zone/Area
|
BA-16-05
|
290.7
|
294.0
|
3.3
|
28.5
|
Barbeau
Zone
|
BA-16-07
|
378.0
|
381.0
|
3.0
|
20.7
|
Barbeau
Zone
|
BA-17-12
|
346.7
|
349.7
|
3.0
|
8.8
|
Barbeau
Zone
|
BA-17-22
|
712.2
|
716.0
|
3.8
|
11.9
|
Barbeau
Zone
|
BA-17-24
|
983.0
|
985.0
|
2.0
|
7.8
|
Barbeau
Zone
|
BA-17-40A
|
911.5
|
913.4
|
1.9
|
22.2
|
Barbeau
Zone
|
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://www.bonterraresources.com/en/gladiator/maps-sections for
updated maps including long sections and cross sections.
Bonterra Resources Quick Facts:
- Well financed with $40 million
raised in 2017.
- Strong Shareholder Base: Eric
Sprott (10%), Van Eck Gold Fund (12%), Kirkland Lake Gold (9.5%), Kinross (7.5%).
- Gladiator Gold Deposit:
-
- Deposit extension and resource expansion underway utilizing
minimum of four drill rigs with 50,000 m to be completed in 2017;
up to six (6) rigs in 2018.
- Advancing to the completion of an updated NI 43-101 Mineral
Resource in 2018, which is anticipated to include up to an
additional 100,000 m of drilling from 2015 through 2018.
- Drilled dimensions of the Gladiator Deposit are currently
outlined to a depth of 1,200 m below surface, and a strike length
of 1,200 m;
- Gladiator remains open in all directions, where at least five
distinct sub parallel zones or mineralized horizons have been
identified.
- Drilling currently focused the continued expansion of Gladiator
Gold Deposit, and drill testing of the Coliseum Gold Zone to the
southwest.
- 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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.
SOURCE BonTerra Resources Inc.