VANCOUVER, June 4, 2018 /CNW/ - Bonterra Resources Inc.
(TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce the latest drilling results
from the ongoing resource development program at the Gladiator Gold
Deposit, including an intersection of 34.3 g/t Au over
2.8 m, which further extended the
South Zone to the west by approximately 50
m. Positive assay results from ten recent drill holes have
extended the known dimensions of the mineralization in multiple
zones westward and to surface at the Rivage Gap area.
"Our winter drill campaign has been completed and was
successful in expanding and defining the Gladiator Gold Deposit. We
are now excited to commence our spring and summer drill program,
which will focus on further definition of the deposit for the
upcoming resource update in the latter part of 2018, but to also
test regional priority targets to the south west and north
east," commented Nav
Dhaliwal, President and CEO of Bonterra.
Highlights and Observations:
- Hole BA-18-25 intersected 34.3 g/t Au over 2.8 m at the North Zone, extending the
deposit westward by approximately 50
m in the Rivage area.
- Infill drill holes BA-18-14 and BA-18-22A confirm continuity of
the South Zone at depth and the extend the South Zone under plunge
with 19.8 g/t Au over 1.2 m in
BA-18-22A.
- Hole BA-18-15 extends the Main Zone to surface at the Rivage
Gap with 13.9 g/t Au over 2.0
m.
- Hole BA-18-19 extends the Footwall down plunge with 13.4 g/t
Au over 1.0 m at 550 m below surface.
- Hole BA-18-20 extends North Zone to surface at the Rivage Gap
area with 14.2 g/t Au over 1.0
m.
- Infill drill results continue to demonstrate the
continuity of the deposit, highlighting the predictability of
the 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 over 1,000
m.
Winter Drilling Completed – Spring/Summer Drill Program
Initiated
Bonterra has completed the winter drilling campaign, which was
focused on step-out and definition drilling at the deposit. The
campaign successfully extended the deposit westward, opening
multiple zones for further expansion from surface to depth.
Multiple drill holes from the winter drilling campaign are in the
lab with assays pending.
The 2018 resource development program, comprised of 70,000 m of drilling at the Gladiator Gold
Project continues with five active drills, four focused on the
definition and expansion of the Gladiator Gold Deposit, and one
drill focused on exploration targets west of the deposit. The
Company is currently mobilizing a sixth drill to the St. Cyr Gold
Prospect to follow up on drilling that was completed as part of the
winter drilling campaign.
Hole
|
From
(m)
|
To
(m)
|
Length*
(m)
|
Grade
(g/t
Au)
|
Zone/Area
|
BA-18-14
|
600.0
|
602.0
|
2.0
|
10.2
|
Main
|
|
733.6
|
734.6
|
1.0
|
6.4
|
South
|
BA-18-15
|
116.0
|
118.0
|
2.0
|
13.9
|
Main
|
BA-18-17
|
67.4
|
68.5
|
1.1
|
5.5
|
North
|
|
141.4
|
144.3
|
2.9
|
8.0
|
Footwall
|
|
147.0
|
148.0
|
1.0
|
4.6
|
Footwall
|
BA-18-18
|
61.0
|
62.3
|
1.3
|
4.0
|
North
|
BA-18-19
|
679.0
|
680.0
|
1.0
|
13.4
|
Footwall
|
BA-18-20
|
68.0
|
69.0
|
1.0
|
14.2
|
North
|
|
203.0
|
204.0
|
1.0
|
7.3
|
Footwall
|
BA-18-22A
|
274.7
|
275.8
|
1.1
|
4.5
|
North
|
|
637.8
|
639.0
|
1.2
|
19.8
|
South
|
BA-18-23
|
406.0
|
408.0
|
2.0
|
4.6
|
South
|
BA-18-24
|
308.0
|
308.6
|
0.6
|
16.3
|
Footwall
|
|
353.5
|
355.0
|
1.5
|
5.1
|
Footwall
|
BA-18-25
|
274.2
|
277.0
|
2.8
|
34.3
|
North
|
*
|
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://bonterraresources.com/projects/gladiator-project/maps-sections/
for updated maps including long sections and cross sections.
Bonterra Resources Quick Facts:
- Well financed with approximately $65
million raised since 2017.
- 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 over 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.