Val-d’Or, QC – February 27, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to announce that the recently completed drilling has extended the M1 Zone in the Moroy deposit.
Assays have been received for drill holes recently completed on the M1 Zone in the Moroy deposit. The focus of the drilling has been the extension of the M1 Zone mineralization up-plunge using a drill from surface and down-plunge utilizing an underground rig. Highlights include an intersection of 15.27 grams per tonne (“g/t”) Au over 3.39 metres (“m”) in an up-plunge position and 8.14 g/t Au over an intersection length of 3.61 m extending mineralization down plunge. The new drill intercepts indicate a significant extension of the M1 Zone and, combined with re-interpretation of the existing drilling, supports a zone of demonstrated continuity beyond the limits used for the current resource estimate. Significant intercepts from the recently completed holes within the M1 Zone are contained in the table below. These holes, as well as those drilled on the M1 structure but outside of the plunging zone of mineralisation, are plotted on the long section attached.
The Company is currently completing a bulk sample on the 11th Level in the M1 Zone. The location of the bulk sample is indicated in the long section attached. In addition, the Company is completing selected in fill drilling to support future resource to reserve conversion and mine planning.
Greg Gibson, CEO of Bonterra stated: “We are continuing to advance Moroy towards inclusion in a mine plan and we continue to execute our strategy of advancing resources in other targets at Moroy and our other assets, Barry and Gladiator, to support a long term mine life.”
Analyses and QAQC
Gold analyses of Moroy drill core are completed at the Bachelor Mine assay laboratory. The Company employs an industry standard QAQC program that includes duplicate analyses from pulp and coarse rejects and the use of Certified Reference Materials (CRM) and blanks. Check assays on a minimum of 10% of the samples are completed at ALS Laboratories in Val-d’Or.
Jamie Lavigne, P.Geo and VP Exploration for the Company has approved the information contained in this release. Mr. Lavigne is a Qualified Person as defined by NI43-101.
Open the PDF to view a table and a map.
FOR ADDITIONAL INFORMATION:
Investor relations: Allan Folk
2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com
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.
Cautionary and Forward-Looking Statements
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. This forward-looking information includes namely, information with respect to the planned exploration programs and the potential growth in mineral resources. Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit and such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets are conceptual in nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources. 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, 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.