VANCOUVER, Sept. 19, 2018 /CNW/ - Bonterra Resources Inc.
(TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the "Company" or
"Bonterra") is pleased to announce the discovery of a new high
grade gold zone near surface to the north of the Gladiator Gold
Deposit with an intersection of 27.4 g/t Au over 7.0 m. This new high-grade mineralization is
located approximately 200 m
north of the most northerly Gladiator zone (North Zone) and was
located by drill hole BA-18-60 above 100
m in depth. The mineralization and characteristics of
this zone are very similar to the Gladiator Deposit and are similar
to the Company's current geological model. The model consists of
parallel veins or zones and is open along strike and at
depth. The recently optioned "Duke" property boundary areas
have allowed the Company access for exploration into these areas of
interest. This high-grade intersection occurs on Bonterra's 100%
owned Gladiator property. Follow up drilling is underway in order
to test down dip and strike continuity.
"Our geological model continues to produce results with this new
high-grade zone that appears to project nicely from our established
pattern of veining within the multi-zone Gladiator Deposit.
Our recent option to earn interest in the Duke claims has allowed
us to now step out northeast and southwest with drilling in order
to locate new parallel zones. We are extremely encouraged with
our first results in stepping away from the Gladiator to the
northeast and look forward to extending the new zone further,"
commented Nav Dhaliwal, President
and CEO.
Highlights and Observations:
- BA-18-60 intersected a new high-grade zone located
200 m north of the North Zone with
27.4 g/t Au over 7.0 m. The
intersection occurred between 96.0 m
and 103.0 m down hole and contained
numerous fine specks of visible gold within smoky quartz veining
with pyrite and minor sphalerite mineralization, typical of the
Gladiator Deposit. Follow-up holes are ongoing in order to
validate continuity.
- BA-18-60 intersected the Main Zone at 600 m below surface with 14.8 g/t Au over
7.0 m. This intersection adds to
continuity of high-grade mineralization at depth with shallow
intersections along an easterly plunge.
The ongoing resource development program continues to expand and
define the Gladiator Gold Deposit ahead of the updated mineral
resource estimate scheduled for Q4 2018. Drilling to be included in
the upcoming mineral resource estimate has now been completed.
Drilling continues with three drills at the deposit focused on
extension drilling along strike to the northeast and southwest.
Hole
|
From
(m)
|
To
(m)
|
Length*
(m)
|
Grade
(g/t
Au)
|
Zone/Area
|
BA-18-60
|
96.0
|
103.0
|
7.0
|
27.4
|
New
|
BA-18-60
|
777.2
|
784.2
|
7.0
|
14.8
|
Main
|
BA-18-60
|
851.0
|
852.0
|
1.0
|
7.1
|
Other
|
BA-18-60
|
904.2
|
905.9
|
1.7
|
7.0
|
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://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 Q4 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 1,300
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 labor
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.
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