VANCOUVER, Dec. 5, 2017 /CNW/ - Bonterra Resources Inc.
(TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce continued success from its
ongoing Resource Development Program at the Gladiator Gold Deposit.
Drilling has further increased the size of the high-grade core area
of the South Zone, with 18.5 g/t Au over 4.0 m drilled in hole BA-17-42A, and
significant width and grade was also encountered in the Footwall
Zone within drill hole BA-17-48, which yielded 10 g/t Au over
6.3 m. Additional drilling
results received also extended the North Zone down plunge and to
the east. The Company is aggressively completing its 2017
Resource Development Program, with four diamond drill rigs
completing a 50,000 m program.
Multiple holes are currently in the lab awaiting completion with
assays pending.
Highlights and Observations:
- Drill holes BA-17-42A (18.5 g/t Au over 4.0 m) and BA-17-44 (11.9 g/t Au over
3.2 m) in the South Zone
increase and further define the size of the high-grade core
area.
- Holes BA-17-42A and BA-17-48 improve the
definition of the high-grade core of the Footwall Zone, with
significant grade and width in hole BA-17-48, which intersected
10.1 g/t Au over 6.3 m.
- Holes BA-17-42, BA-17-43B and BA-17-46 confirm the eastern
continuity of the North Zone, with BA-17-42 intersecting 9.6 g/t
Au over 3.0 m. This recent
drilling also extends the North Zone down plunge to the east.
- Results from seven recent drill holes have expanded the size
and demonstrate the continuity of the North, Footwall and South
Zones.
- 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, "Drill results from Gladiator continue to
demonstrate superior widths and grades in all five of our defined
zones to date. These mineralized zones are not only visible with
sharp contacts, but are continuous and highly predictable. Stand
alone high-grade gold deposits in Canada, especially with extensive
infrastructure and easy access, are extremely rare and valuable and
we look forward to demonstrating that Gladiator is among that
class."
The Company plans to mobilize two additional drills (totaling
six) to the property to support the expanding Resource Development
Program at Gladiator. The upcoming winter drilling campaign will
focus on further defining the Gladiator Gold Deposit to advance the
completion of an updated NI 43-101 Mineral Resource Estimate
in 2018.
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|
|
|
|
|
Hole
|
From
(m)
|
To
(m)
|
Length*
(m)
|
Grade
(g/t
Au)
|
Zone/Area
|
BA-17-42
|
179.0
|
182.0
|
3.0
|
9.6
|
North Zone
|
BA-17-42A
|
269.0
|
271.0
|
2.0
|
5.2
|
Footwall
Zone
|
|
556.0
|
560.0
|
4.0
|
18.5
|
South Zone
|
BA-17-43B
|
472.0
|
474.0
|
2.0
|
5.8
|
North Zone
|
BA-17-44
|
575.8
|
579.0
|
3.2
|
11.9
|
South Zone
|
BA-17-46
|
425.8
|
428.5
|
2.7
|
10.9
|
North Zone
|
BA-17-48
|
250.7
|
257.0
|
6.3
|
10.1
|
Footwall
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 rigs in 2018.
- Advancing to the completion of an updated NI 43-101
Mineral Resource Estimate 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 focuses 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.