Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce initial results from the ongoing winter drilling campaign at the Gladiator Gold Deposit, including an intersection of 16.9 g/t Au over 6.5 m. High-grade intersections from four recent drill holes continue to demonstrate the continuity of the deposit and once again highlight the predictability of the mineralized zones with increased drilling density. The ongoing drilling campaign, totaling 70,000 m in 2018, includes infill and definition drilling at the Gladiator Gold Deposit. Five active drill rigs are currently focused to support the timing and completion of an updated mineral resource estimate in the second half of 2018.
Canadian Gold Miner Corp. (“CGM” or the “Company”) and Transition Metals Corp. (a 40% owner of CGM; XTM – TSX.V, “Transition”) are pleased to announce that CGM has today concluded a transaction with Osisko Mining Inc. (“Osisko”) to acquire the DeSantis property, a historical gold producer located in the heart of the Timmins Gold Camp, and an option on the Catharine Property, a large exploration land package near CGM’s focus area south of Kirkland Lake, Ontario in exchange for 2.5 million common shares of CGM valued at $0.20 per share. Concurrent with the transaction, Osisko also has completed a $1.0 million private placement in CGM consisting 5.0 million units priced at $0.20 with each unit consisting of a common share and a half common share purchase warrant exercisable at $0.35 for a period of two years.
Canadian Gold Miner Corp. (“CGM” or the “Company”) and Transition Metals Corp. (XTM – TSX.V, “Transition”) together announce that CGM has entered into a non-binding letter of intent with Osisko Mining Inc. (OSK – TSX, “Osisko”) whereby, subject to the execution of definitive agreements on terms acceptable to the parties, Osisko would assign its ownership interest in two exploration stage properties to CGM in exchange for stock of CGM. In addition, Osisko would provide financing to CGM, on a private placement basis, in the amount of $1.0 million in exchange for stock of CGM. Once completed, the transaction is expected to result in Osisko owning approximately 19.9% of the issued and outstanding common shares of CGM. The properties to be assigned to CGM include the DeSantis property, a historical gold producer located in the heart of the Timmins Gold Camp, and the Catherine Property, a large exploration land package near CGM’s focus area south of Kirkland Lake, Ontario.
Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce that the ongoing resource development program in and around the Gladiator Gold Deposit has successfully further extended the Main, Footwall and North Zones by increasing the strike and depth by up to 300 m depth to the known mineralized horizons. Results from six recent drill holes significantly expand the size and confirm the continuity of the Gladiator Gold Deposit.
Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce recent exploration activities located west of the Gladiator Deposit and within the extensive Coliseum Property have led to the discovery a new gold and silver bearing horizon (“Temica Gold Zone”). The discovery located approximately 4 km to the south west of the Gladiator Deposit, was highlighted by recent drill hole CL-17-14, which intersected 4.7 g/t Au and 44.6 g/t Ag over 2.7 m at a depth of 250 m below surface. The Bonterra technical team considers this newly discovered zone to be an extension of the Gladiator mineralized trend.