Val-d’Or, QC – July 30, 2020: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (the “Company” or “Bonterra”) is pleased to announce an increase of 5,000 tonnes to its now 10,000 tonnes bulk sample currently underway at the Moroy Project.
In December 2019, the Ministry of Energy and Natural Resources (“MERN”) gave approval to extract 5,000 tonnes of mineralized material from the Moroy zone. This week, the MERN authorized an additional 5,000 tonnes, bringing the total to 10,000 tonnes to be extracted in the Moroy zone bulk sample program. Bonterra requested this increase following initial long-hole drilling results indicating the mineralized zone was thicker than initially expected.
The bulk sample program at the Moroy project is being undertaken in order to verify the grade continuity within the mineralized structure and reconcile the resource grade to the recovered ounces following processing.
The bulk sample is focused on the M1 shear zone on level 11, 440 metres (“m”) below surface. The plan is to mine the zone from an existing exploration drift starting from the Bachelor shaft 900 m to the north of the Moroy zone. The M1 structure is sub-vertical and the company plans to extract it via a sub-level long-hole stoping method at 15 m intervals.
The company began the bulk sample program in January with long-hole drilling. Drilling was underway when Bonterra ceased all activities due to the advent of the Covid-19 global pandemic. Work officially resumed on July 15th, with blasting set to begin in the next few days. The broken material will be transported on level 11 to the Bachelor shaft. Once at surface, the mineralized material will be processed onsite at the Bachelor mill under the supervision of a third-party engineering firm. The results of the completed bulk sample program are expected to be announced in Q4 2020.
Pascal Hamelin, P.Eng. Interim CEO, has approved the information contained in this release. Mr. Hamelin is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”).
FOR ADDITIONAL INFORMATION:
Pascal Hamelin, Interim CEO and VP Operations
2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8676 | Website: www.bonterraresources.com
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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.