VANCOUVER, March 27, 2018 /CNW/ - Bonterra Resources
Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce both the appointment of Mr.
Peter A. Ball as Vice President of
Operations and an update of the ongoing Winter Drill Program and
metallurgical studies.
"I am pleased to have Peter formally join the Bonterra team,
as he has been a Board Advisor since 2015. Originally from
Kirkland Lake, Ontario, and a
fifth generation mining professional, he brings extensive knowledge
of the mining sector stretching back to the 1980s, where he
commenced his career working as a mining engineer. Peter has held
senior level executive positions with multiple precious and base
metals companies, including recently the CEO of a North American
gold exploration company. Peter will be a valued addition to the
Bonterra senior management team as Vice President ofOperations as
we push forward with our metallurgical studies and resource
update," stated Nav Dhaliwal,
President and CEO of the Company.
Mr. Ball is a mining professional with over 25 years of
experience in mining engineering, corporate finance, business
development and marketing, and most recently held the position of
President & CEO of Redstar Gold Corp. Mr. Ball began his career
in the late 1980s working as a mining engineer, and subsequently in
various management and senior executive roles for numerous
companies including Hudson Bay Mining & Smelting, Echo Bay
Mines Ltd., Eldorado Gold Corp., Adriana Resources Inc., Argentex
Mining Corp., Century Mining Corp., and Columbus Gold Corp. He
currently serves as a Director for several publicly listed
companies and is a graduate of the Haileybury School of Mines and
Georgian Business College. Mr. Ball has been active with Bonterra
since 2015 as a Board advisor.
Dale Ginn, VP Exploration,
commented, "I have known Peter since the early 1990s when we
had the opportunity to work together for a few years during
a period of successive new discoveries and mine developments
at Hudson Bay Mining & Smelting, and when Peter worked as a
senior mining engineer. I am pleased to once again team up as we
continue to advance the resource development program at the
Gladiator Gold Project. Peter's technical skills, along with his
extensive capital markets experience, is a great addition to the
team as we accelerate our development activities at
Gladiator."
Metallurgical Studies Review
ALS Metallurgy ("ALS") of Kamloops,
British Columbia, has been contracted to complete
metallurgical studies for the Gladiator Gold Deposit. The
metallurgical work will include at minimum; grind optimization,
gravity separation, flotation, and cyanide leach testing. These
studies are intended to provide an initial look at the
characteristics of mineralization to help guide future optimization
test work and processing flow sheet specifications. ALS will
complete the work on approximately 45 kg of composite sample from
the Main Zone from two wide diameter holes (MT-18-01, MT-18-02).
Optimization work will continue as results are received and the
Company does not anticipate disclosing results until completion in
Q2-2018. Results from the metallurgical test work will be an
integral part of the information to be used in the future potential
engineering studies as we continue to de-risk the Gladiator Gold
Deposit.
Winter Drill Program Review
The ongoing drilling campaign, totaling 70,000 meters in 2018,
includes infill and definition drilling at the Gladiator Gold
Deposit. The Winter Drill Program is comprised of five (5) drill
rigs completing ~25,000 meters on the Gladiator Gold deposit, and
is focused on definition drilling at a 50-meter drill hole spacing
for the updated resource estimate in the second half of 2018. In
addition, two (2) drill rigs, completing ~5,000 meters, have been
deployed on regional exploration targets to the southwest (Coliseum
Zone) and to the northeast (St. Cyr
Zone).
Both the preliminary metallurgical studies and accelerated drill
programs are on schedule and budget, ensuring the completion of our
mineral resource update in the second half of 2018.
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 approximately $60
million raised in past 12 months.
- Strong Shareholder Base including: Eric Sprott, Van
Eck, Kirkland Lake Gold
- 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 the second half of 2018.
- Drilled dimensions of the Gladiator Gold Deposit are currently
outlined to a depth of 1,000 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 is currently focused on the continued expansion of
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.