Val-d’Or, QC – April 1, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) announces the results of assays from the winter drill program completed to date on its Barry project. Results include an intersection of 7.35 grams per tonne (“g/t”) Au over an intersection length of 8.35 metres (“m”), including a higher-grade interval of 10.26 g/t Au over an intersection length of 4.75 m in hole MB-20-250.
The 2020 winter drill program at Barry commenced on January 6 and was suspended on March 17 due to the Company’s response to the Covid-19 virus situation. A total of 10,662 m of drilling was completed in 24 holes. Assay results for 14 of the holes have been completed in full, while assay results for 5 of the holes have been partially completed, and assays for an additional 5 holes are pending in full. The holes completed at Barry were planned to: 1) In-fill drill in selected parts of the deposit, 2) test the down dip limits of the current resource model, and 3) Explore to the immediate west of the deposit including ice-based drilling on Lac Limpide. A table of significant intersections received is attached below, in addition, the plan map attached indicates the location of these holes and projected intercepts.
Five holes drilled were aimed at deposit in-fill with the objective of converting inferred resource to indicated resource. Assays have been received for 3 of the 5 holes. The assays received from the 3 holes are consistent with assays from adjacent holes and confirm the trends of the block model. The metres completed on in-fill drilling to date are approximately one third of the metres planned for in-fill drilling at Barry. A detailed assessment of the results will be completed as assays are received and the drill program resumes.
Eight holes were drilled along the down dip limit of the resource model in selected positions where the current drilling was widely spaced. In general, the grade, thickness, and location of the intercepts are consistent with their occurrence on the margin of the Barry gold deposit. Hole MB-20-257, however, intersected a wide zone of mineralization 3.53 g/t Au over an intersection length of 15.10 m, including 5.48 g/t Au over an intersection length of 8.10 m. This intersection is consistent with the trend of the resource model and is open down dip. In general, the down dip limits of the Barry deposit remain constrained only by relatively wide spaced drilling and opportunities for expansion will be evaluated as deposit interpretation and modelling continues.
Eleven holes were drilled beyond the western limits of the current Barry resource model which is open in this direction. The concept of exploration to the west is supported by magnetic and chargeability trends. Assays are pending from 6 of the 11 holes completed. Drill hole MB-20-250 intersected 7.35 g/t Au over an intersection length of 8.35 m, including a higher-grade interval of 10.26 g/t Au over an intersection length of 4.75 m. Assays from adjacent holes have returned widespread mineralization and locally high grades over limited widths. The results to date strongly support the western extension exploration concept and the drill program planned for Lac Limpide during the 2020 winter. The assays completed to date indicate that the Barry deposit has been extended to the west. The Company will be assessing all results as received and plans to continue a drill campaign on Lac Limpide in future.
Greg Gibson, President and CEO for the Company commented: “The 2020 Winter exploration program was in full swing with 3 drills running at the time of shut down. We had only recently got on the ice and started the program on Lac Limpide having completed 2 holes of a much larger plan. Priority targets for extension of the Barry deposit to the northwest, to the east, and down plunge to the southeast, as well as the Barry regional exploration program will continue to be the Company’s focus.”
Analyses and QAQC
Gold analyses of Barry drill core were 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.
Sabrina Bernard, P.Geo. is the Chief Geologist for the Barry project and supervises all drilling and exploration on the property. Jamie Lavigne, P.Geo, VP Exploration has approved the information contained in this release. Mr. Lavigne is a Qualified Person as defined by NI 43-101.
Open the PDF to view the tables and a map for the Barry Deposit Project Plan Map – 2020 Drilling
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.
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.