Vancouver, BC – July 26, 2016: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “BonTerra”) is pleased to provide a review its 100% controlled Larder Lake Property, located in the McVittie and McGarry Townships of Ontario, Canada.
“The Larder Lake Property is another key strategic asset, with millions of exploration and development dollars spent over many years, most recently in 2012/13, when Gold Fields previously completed an extensive drill program in a multi-million-dollar option. The Larder Lake asset contains a significant large historical gold resource that BonTerra will be advancing over the next year and will also be examining its 9 km exploration land package along the world famous Cadillac-Larder Lake Break Fault structure, which has already produced millions of ounces of gold,”commented Nav Dhaliwal, President and CEO. “We have recently completed an initial general 3D geological model highlighting the historical drilling and zones outlined to date and have now placed the new information on BonTerra’s website.”
“BonTerra brings previous experience on the project and is now compiling all historical data at the Larder Lake Gold Project, which will include the recent 25,017 meters completed by Gold Fields in 2012/13 into an updated geological model. Based on our due diligence to-date and the significant amount of data not incorporated into a NI 43-101 Technical Report, we anticipate being able to interpret this new data, design a focused fall drill campaign, and potentially a new 43-101 mineral resource estimate at Larder by 2017,” commented Dale Ginn, Vice President of Exploration.
Disclosure of Historical Estimates*:
The Larder Lake Project contains a historical resource estimate completed for Bear Lake Gold Ltd. by P&E Mining Consultants Inc. and reported in a NI 43-101 Technical report titled “Technical Report and Updated Resource Estimates on the Larder Lake Property, Larder Lake, Ontario” The effective date of the report is June 15, 2011. A qualified person has not done sufficient work to classify the historical resource estimate as current and BonTerra is not treating the historical estimate as a current mineral resource estimate. The results of the historical estimate, along with some key assumptions used, are summarized in the table below. The Company will be evaluating the historical 2011 resource estimate in conjunction with project wide compilation and interpretation including the 59 drill holes (25,017 metres) completed by Gold Fields during 2012 and 2013.
|*2011 Total Resource Estimate @ 2.5 g/t Au Cut-Off Utilizing Gold Price of US$1,207/oz|
|Contained Ounces |
|August 15, 2011 – P&E Mining Consultants NI 43-101 Technical Report|
Please visit www.bonterraresources.com for information on the Larder Lake Property, its location, and other general information.
The new general 3D geological model can be viewed at:
BonTerra Resources Quick Facts:
Dale Ginn, P.Geo. has approved the information contained in this release. Mr. Ginn is a Director and Vice-President of Exploration for 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.
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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.