Val-d’Or, QC – March 22, 2021 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce the discovery of a new near surface zone of gold mineralization found within the Company’s Bachelor-Desmaraisville land package. Drilling encountered a broad zone of mineralization that is located close to surface and within two kilometres of the Company’s 100% owned Bachelor Mill. The newly discovered zone of mineralization is proximal to the syenite intrusion shown in Figure 2. Results to date indicate that the mineralized zone is open in all directions. The Company plans to mobilize a drill crew as soon as possible to begin follow-up work.
Pascal Hamelin, CEO commented: “This newly discovered near-surface mineralized target is extremely exciting for Bonterra. The new gold target has the potential to rapidly grow due to the widths and ease in which short holes from surface can be used to define the target boundaries. To find something this close to the Bachelor mill demonstrates the untapped potential of this mining camp. We continue to believe this camp is largely underexplored and that there will be several new discoveries in the region in the near future. In addition, the discovery’s proximity to our existing mill infrastructure is also important as it lowers the hurdle to becoming a potential source of mill feed. As a result of this success, we plan on mobilizing a drill crew as soon as possible to do immediate follow-up work on near-surface targets.”
Exploration drilling results are confirming the existence of gold mineralization within sheared meta-volcanoclastic and meta-sedimentary rocks hosting quartz (+/- carbonate-ankerite-pyrite) veining and related vein stockworks. Results from the recent drilling fence across the east flank of the O’Brien intrusive stock of syenitic composition is supporting the existence of a broad gold mineralized vein system at shallow depths proximal to the mine area.
Drilling of the other regional exploration targets: Clone, Sigmoid and Deer have so far, returned anomalous gold values. These early, first pass drilling results are key for exploring the potential for gold mineralization of the relatively untested targets within the mining camp (See Figure 1).
Bonterra is a Canadian gold exploration company with a large portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company has three main assets, Gladiator, Barry, and Moroy, that collectively have a total of 698 thousand ounces in measured & indicated categories, and 1.4 million ounces in inferred category. Approximately 130,000 metres of drilling will be used to update this resource shortly. Importantly, the Company owns the only permitted and operational gold mill in the region that is currently two-thirds the way through the permitting process to expand from 800 to 2,400 tonnes-per-day. Bonterra is focused on graduating from advanced exploration to a development company over the next 18-months to deliver shareholder value.
The Desmaraisville area’s drill core gold analyses are performed at the Company’s Bachelor Mine analytical laboratory (the “Laboratory”). The Company employs a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by fire assay (A.A.) with atomic absorption finish. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor the Laboratory’s performance. The Company’s QA-QC program requires that at least 10% of samples be analyzed by an independent laboratory. These verification samples are sent to ALS Minerals laboratory facility located in Val-d’Or, Quebec. The verifications show a high degree of correlation with the Laboratory’s results. Pending assays of samples awaiting analysis from drilling beyond the project models not included in the 2021 Resource Update are to be processed at Actlabs, based in northwestern Quebec.
Francis Lefebvre, P.Geo and Project Manager at Moroy supervises all exploration activities on the Moroy project. Mr. Lefebvre is a Qualified Person as defined by National Instrument 43-101 (“NI43-101”). Marc Ducharme, P.Geo. and Bonterra’s Exploration Manager, has compiled and approved the information contained in this press release. Mr. Ducharme is a qualified person as defined by National Instrument 43-101.
FOR ADDITIONAL INFORMATION
Pascal Hamelin, President & CEO
2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.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
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.