Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce the latest results from the ongoing winter drilling campaign at the Gladiator Gold Deposit, including an intersection of 17.8 g/t Au over 3.0 m. High-grade intersections extend multiple zones westward, adding strike length at the Rivage Gap and continue to demonstrate the continuity of the deposit, highlighting the predictability of the mineralized zones. The ongoing drilling campaign, totaling 70,000 m in 2018, includes infill and definition drilling at the Gladiator Gold Deposit. Multiple drill holes are in the lab with assays pending.
Highlights and Observations:
- Results from four recent drill holes demonstrate the continuity of the Gladiator Gold Deposit. The four drill holes were drilled on the ice and focused on the western side of the deposit. Two holes, BA-18-07 and BA-18-08, extend the near-surface strike length of multiple zones westward at the Rivage Gap, an area with minimal drilling.
- Hole BA-18-05 intersected 9.3 g/t Au over 3.1 m at the North Zone, 4.2 g/t Au over 1.5 m at the Footwall Zone, 6.9 g/t Au over 1.3 m at the Main Zone and 3.5 g/t Au over 1.2 m at the Barbeau Zone. Multiple intersections in BA-18-05 confirm the continuous nature of the modelled mineralized zones.
- Hole BA-18-06 intersected 6.1 g/t Au over 2.5 m at 350 m depth the South Zone. and 4.7 g/t Au over 2.0 m at 200 m depth in the North Zone.
- Holes BA-18-07 and BA-18-08 added near-surface strike length to the North and South zones at the Rivage Gap. BA-18-07 intersected the North Zone with 8.8 g/t Au over 1.3 and the South Zone at 5.8 g/t Au over 1.2 m. BA-18-08 intersected 17.8 g/t Au over 3.0 m at the South Zone.
- 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 BA-18-07 intersected the North Zone near surface with 8.8 g/t over 1.3 m and the South Zone at 230 m depth with 5.8 g/t Au over 1.2 m. BA-18-07 is the most western hole drilled in 2018 at the Gladiator Gold Deposit so far, with anomalous gold intersected across all mineralized horizons. Results from BA-18-07 extend multiple mineralized zones to the west, adding over 100 m of strike length near surface.
BA-18-08 intersected 17.8 g/t Au over 3.0 m at the South Zone at 250 m depth. This intersection occurs in an area with minimal drilling and confirms the continuity of the South Zone on the western side of the Gladiator Deposit.
The seven-drill, 30,000 m winter drilling campaign, is part of the ongoing resource development program at the Gladiator Gold Deposit. Bonterra continues to advance the development of the Gladiator Gold Deposit through definition drilling across all mineralized horizons.
*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 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.
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