Val-d’Or, QC – July 14, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to announce that the Company has resumed its 2020 drill program this week at the Moroy, Gladiator and Barry projects that were previously suspended on March 17, 2020 due to the Covid-19 global pandemic. The current program consists of eight drill rigs including five land drill rigs, two barge drill rigs at Barry and Gladiator and one underground drill rig at Moroy.
An additional 56,000 meters (“m”) of drilling is planned for the remainder of 2020, which includes 20,000 m of surface and underground drilling at Moroy, 16,000 m at Gladiator and 20,000 m at Barry. Drilling activities and related exploration work will resume progressively while implementing the Company’s government approved Covid-19 health and safety protocols to protect its workers and the surrounding communities near the projects.
The Company’s objective for the H2 2020 drill program is a balanced approach, which includes deposit in-fill drilling, resource expansion drilling and exploration along known deposit and regional trends. The targeted project areas are as follows (see figures 1, 2 and 3):
The Bachelor assay lab is operational with Covid-19 confinement and health and safety protocols in place on site. The winter 2020 drilling sampling and assaying backlog is expected to be completed by the end of July. The Company continues to develop and update all geological models at the Gladiator, Barry, and Moroy deposits. The extent and timing of future model updates will be dependent on the amount of winter drilling accomplished.
Bonterra recently staked 231 claims near the Bachelor-Moroy sector. This newly added greenfield land package is located north and west of the Bachelor mine. These new areas are underexplored and lie along an east-northeast regional fault trend within a folded complex with several historic gold occurrences to the northeast. A high-resolution airborne magnetic survey is scheduled for this summer to be followed by mapping and prospecting (see figure 4).
The Company continues the work on permitting and engineering for expansion of the Bachelor mill and tailings facility. Geotechnical drilling is scheduled in July to test the soil type under the location of a future dyke. These results will be incorporated into the detailed tailings expansion design. In addition, the Company continues to advance the permitting to develop an exploration decline at the Gladiator project.
Pascal Hamelin, Interim CEO and VP, Operations commented: “We are very excited to resume our exploration activities in the Urban-Barry and the Bachelor camps as we have excellent targets to follow up on. I wish to thank our employees and suppliers for their continuous support and effort in maintaining all our assets in excellent shape for a safe resumption.”
Marc Ducharme, P.Geo. and Bonterra’s Principal Geologist has approved the technical information contained in this release. Mr. Ducharme is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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FOR ADDITIONAL INFORMATION:
Contact: Pascal Hamelin – Interim CEO and VP, Operations or email@example.com
2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
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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.