VANCOUVER, Sept. 14, 2018
VANCOUVER, Sept. 14, 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 29.6 g/t Au over 3.0 m at the South Zone. This indicates the presence of a new high-grade chute and is open at depth. Recent infill drilling results demonstrate the continuity of mineralization and increase the thickness of all defined zones. Step out drilling revealed new areas of high-grade mineralization and has expanded the known extents of mineralization along multiple zones.
Highlights and Observations:
- Infill and extension drill results continue to validate the Gladiator model.
- BA-18-53A intersected multiple high-grade gold zones including 29.6 g/t Au over 3.0 m at the South Zone, indicating the presence of a new high-grade chute, expanding the known extents of mineralization and opening the South Zone at depth.
- BA-18-53A intersected multiple structures in the North Zone with 6.5 g/t Au over 2.0 m and 4.0 g/t Au over 3.0 m.
- BA-18-53A also intersected with Footwall Zone with 4.5 g/t Au over 3.0 m, increasing the thickness of the zone at 600 m below surface.
- BA-18-54 further defines the North Zone with 9.4 g/t Au over 3.0 m. This intersection increases the grade and indicates the continuity of the North Zone in the eastern part of the deposit.
- BA-18-58 intersected the South Zone at 600 m below surface with 12.3 g/t Au over 1.5 m, connecting the mineralization at the Rivage area to a high-grade chute at depth.
- BA-18-58 intersected the Main Zone, expanding the extents of known mineralization up-plunge with 4.1 g/t Au over 1.5 m.
- BA-18-62 intersected the Main Zone, increasing the size of the high-grade chute 400 m below surface with 17.7 g/t Au over 2.0 m.
- BA-18-62 intersected two structures in the South Zone with 9.8 g/t Au over 2.0 m and 5.8 g/t Au over 2.0 m, proving continuity.
- 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 1,300 m, as well as a drilled depth of over 1,000 m.
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.
*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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