VANCOUVER, Jan. 22, 2018 /CNW/ - Bonterra Resources
Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce that the 2018 winter
drilling program is underway at the Gladiator Gold Project. After
completing more than 60,000 meters in 2017, the Company plans to
drill 30,000 meters during the winter drill program and more than
70,000 meters in 2018. The winter drilling program includes
mobilizing two additional diamond drills, for a total of six on the
project.
Nav Dhaliwal, President and
CEO of Bonterra stated, "As the expansion of the resource
development program at the Gladiator Gold Deposit continues,
Bonterra prepares for its most aggressive quarter to date. Our
current winter drilling program goes to highlight the potential
expansion of our Gladiator Gold Project. We are planning a minimum
drill program of 70,000 meters for 2018 alone. Bonterra's
management remains quite excited for the 2018 calendar
year."
The expanded program will include four drills, focused on the
extension and definition of the Gladiator Gold Deposit.
Approximately 20% of the planned meters will be drilled outside of
the deposit, at targets highlighted from exploration activities
conducted in 2017. Similarly, multiple target areas, have been
identified to the east and west of the Gladiator Gold Deposit.
Additional meters will also be allocated for exploration drilling,
pending success in the initial phase of the campaign.
The winter drilling program further includes the first
metallurgical testing to be completed at the Gladiator Gold
Deposit. Results from the metallurgical study are expected in the
second quarter of 2018. The Company continues to advance the
completion of an updated NI 43-101 Mineral Resource Estimate in the
second half of 2018. The updated resource estimate will include
more than 100,000 meters of additional drilling since the existing
resource was completed in 2012.
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%).
- 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 second half of 2018, which is anticipated to
include up to an additional 100,000 m
of drilling from 2012 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 subparallel zones or mineralized horizons have been
identified.
- Drilling currently focused the extension and definition of the
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.
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.