VANCOUVER, April 9, 2018 /CNW/ - Bonterra Resources
Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce the first significant
intersections of a new "sixth parallel" gold zone at the Gladiator
Gold Deposit. This newly discovered gold zone, located
approximately 50 m south of the
Barbeau Zone, is parallel to and geologically similar to the other
five mineralized zones currently modelled at the expanding deposit.
Additional drilling is now underway to test further to the south to
intercept and expand this new zone. The ongoing drilling campaign,
which will total ~70,000 m in 2018, includes infill and expansion
drilling at the Gladiator Gold Deposit. Multiple drill holes are in
the lab with assays pending.
Highlights and Observations:
- A new gold zone was recently discovered in Hole
BA-18-09, at the Gladiator Gold Deposit, with 11.8 g/t Au over
2.6 m intercepted south of the
Barbeau Zone, increasing the number distinct mineralized
gold zones to six.
- Infill drill results continue to demonstrate the
continuity of the deposit, highlighting the predictability of
the mineralized zones.
- Hole BA-18-12 intersected 16.3 g/t Au over 3.4 m at the South Zone at 266 m depth. This intersection continues to
confirm the continuity of the South Zone on the western side of the
Gladiator Deposit.
- Hole BA-18-11 intersected high-grade gold in five mineralized
zones, including 10.1 g/t Au over 2.4
m in the Barbeau Zone. This highlights the
predictability of multiple mineralized zones and validates the
geological model.
- Hole BA-18-10A intersected 16.5 g/t Au over 2.2 m in the Main Zone and confirms the
continuous nature of the modelled mineralized zones.
- To date, continuity of mineralization is now confirmed over a
total drilled strike length on at least four horizons (North,
Footwall, Main and South) of 1,200 m,
as well as a drilled depth of 1,000+ m.
Hole
|
From
(m)
|
To
(m)
|
Length*
(m)
|
Grade
(g/t
Au)
|
Zone/Area
|
BA-18-09
|
170.0
|
172.0
|
2.0
|
3.9
|
North
|
BA-18-09
|
375.7
|
377.0
|
1.3
|
5.9
|
FW
|
BA-18-09
|
438.0
|
439.1
|
1.1
|
3.5
|
Main
|
BA-18-09
|
764.0
|
766.6
|
2.6
|
11.8
|
New
|
BA-18-10A
|
681.5
|
683.7
|
2.2
|
16.5
|
Main
|
BA-18-11
|
61.5
|
63.0
|
1.5
|
4.9
|
Main
|
BA-18-11
|
103.0
|
105.0
|
2.0
|
8.5
|
South
|
BA-18-11
|
118.8
|
120.4
|
1.6
|
7.7
|
South
|
BA-18-11
|
177.0
|
179.4
|
2.4
|
10.1
|
Barbeau
|
BA-18-11
|
308.0
|
310.0
|
2.0
|
6.4
|
New
|
BA-18-12
|
266.0
|
269.4
|
3.4
|
16.3
|
South
|
*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 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 six
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.