Val-d’Or, QC – March 31, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to announce results from drilling recently completed at Moroy. The drilling continues to define and extend mineralization on the M1 and M4 structures and has interested mineralization, including 9.24 grams per tonne (“g/t”) Au over an intersection length of 2.0 metres (“m”), on a new structure referred to as Moroy 7 (“M7”).
The M1 structure (see Cross Section and M1 Zone Long Section) is the priority target for delineation and expansion of gold resources and will be the source of a bulk sample. Recent drilling on the M1 has been completed from underground and from surface. Infill and delineation drilling from Level 14 in the M1-2 zone is consistent with currently interpreted limits of mineralization. Recent grades in this area, including 7.19 g/t Au over an intersection length of
2.82 m and 14.4 g/t Au over an intersection length of 0.91 m indicate the potential to realize a grade greater than the current average resource grade. Assays are pending from the lower M1-2 zone. Recent drilling down plunge of the M1-1 zone has intersected unmineralized intrusive rock in the projected position of the mineralization. However, intercepts of 3.43 g/t Au over an intersection length of 1.22 m and 3.37 g/t over an intersection length of 1.37 m indicate continuity
of structure and mineralization. Continued down plunge drilling of the M1 Zone remains a priority for the Company. A single, longer-range, exploration hole intersected a wide shear zone on the M1 plane, approximately 175 m down plunge of M1-1 and included an intersection of 0.72 g/t Au over an intersection length of 6.89 m (see the M1 Zone Long Section).
The M4 Zone was recently discovered by the Company (see news release dated September 15, 2019). Recent drilling has expanded mineralization to the east with intercepts of 12.29 g/t Au over an intersection length of 1.79 m and 7.17 g/t Au over an intersection length of 1.89 m (see M4 Zone Plan). The M4 zone dips gently (25o – 35o) to the west-northwest with mineralization now occurring over length of approximately 225 m along a westerly trend direction. The M4 zone remains open and is a priority near term target for the Company.
The Company previously released an intercept of 14.88 g/t Au over an intersection length of 4.71 m in hole MY19-155 (see news release date June 12, 2019). Follow-up drilling in the area of the MY19-155 intercept has resulted in the delineation of a near vertical structure striking to the southsoutheast. It is located south of the M1 structure (see Cross Section). Several of the recent intercepts contain anomalous Au and highlights include 9.24 g/t Au over an intersection length of 2.04 m and 4.55 g/t Au over an intersection length of 1.96 m (see M7 Zone Long Section). This newly recognized mineralized structure is referred to as M7.
Greg Gibson, President and CEO of the Company commented: “With the discovery of the M4 Zone during the fall of 2019 and now the M7 Zone, our exploration program continues to illustrate the potential at Moroy. Given the proximity of these zones to M1, continued drilling success and resource delineation has the potential to have a very positive, near term impact on developing reserves and mine planning at Moroy.”
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.
Francis Lefebvre, P.Geo and Chief Geologist for the Company supervises all exploration activities on the Moroy project. Mr. Lefebvre is a Qualified Person as defined by NI43-101. 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.
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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.