Val-d’Or, QC – September 2, 2021 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX:BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce updated assay results from the ongoing expansion diamond drilling program at its Gladiator project. The focus of this exploration campaign is on expanding the size and scope of the Gladiator gold deposit and supplementing the recently updated mineral resource estimate (the “2021 MRE”), see press release dated June 23, 2021). The ongoing expansion drilling program at Gladiator continues to effectively extend the size of the mineralization and recent data shows encouraging signs of a higher density of veining to the South of the existing Gladiator 2021 MRE.
The Company is currently drilling at a rate of approximately 10,000 m per month at its three main gold deposits to expand upon the recently released 2021 MRE. In addition, work on the Preliminary Economic Assessment (“PEA”), which would utilize the existing Bachelor Mill as a central processing facility is ongoing and is expected to be completed in Q4 2021.
Assays from nine expansion diamond drill holes outside the 2021 MRE, have been received since our August 4, 2021 press release. The assay results included in this press release are highlighted by:
Pascal Hamelin, CEO commented: “The Gladiator deposit is starting to demonstrate early signs of a higher number of occurrences of high-grade material from extension zones to the South of the existing 2021 MRE. The density of the North dipping structures, which are carrying gold mineralization, appears to be increasing to the South. For the remainder of 2021, we will continue to focus our Gladiator exploration efforts on this area of the deposit as we believe we are just beginning to scratch the surface of this highly mineralized zone.”
Hole BA-21-16 has intersected an eastern extension of the Main Zone returning 6.6 g/t Au over 3.0 m (Figure 2)
Hole BA-21-19 successfully intersected the up-dip extension of several North Dipper zones associated to the Main Zone Corridor (Figure 3). The best intersections returned 3.7 g/t Au over 10.5 m including 11.7 g/t Au over 3.0 m, 6.0 g/t Au over 3.1 m including 18.3 g/t Au over 1.0 m and 5.7 g/t Au over 3.4 m including 13.6 g/t Au over 1.2 m.
Results from hole BA-21-30 (9.4 g/t Au over 3.3 m including 61.7 g/t Au over 0.5 m) highlight the presence of a new high grade north dipping structure located south east of the gladiator deposit (Figure 1 and 4).
Gladiator Deposit Geology
The Gladiator deposit consists of a set of shear hosted sub-vertical quartz veins oriented at 60 degrees azimuth and are spatially associated with felsic dykes. The zones named spatially from the north-northwest to the south-southeast are: The North Zone, Footwall Zone and the Main Zone. These three zones include several sub-parallel veins interpreted as dislocated folds in sheared structures. The North Dippers Zones consist of secondary shears/fractures occurring in more brittle lithologies within gabbroic sills and a porphyritic felsic intrusive stock situated between the principal sub-vertical shears. They consist of shear/fracture filling quartz veins dipping 45 to 75 degrees to the north and oriented east-west. The North Dippers include the Barbeau Zone, which is one of the most significant zones in size and continuity at the Gladiator deposit. The Rivage Zone is located just north of the North Zone and consists of sub-vertical narrow shear hosted quartz veins. The South Zone consists of a sub-vertical shear hosted veining trending 70 to 80 degrees azimuth that bounds and drags the southern extensions of the North Dipper Zones. The Titan Zone consists of 3 verticals strongly deformed shear hosted veins trending 90 degrees azimuth located about 2 km to the North East of the Gladiator deposit. The South Titan Zones correspond to veins belonging to the sheared corridor that carry the Titan Zone. All the deposit zones have a strong 45 to 50 degree plunge to the northeast and remain open at depth along the northeast plunge (Figures 1 to 4).
The following table shows the significant intersections of the drill holes presented in this press release.
Quality Control and Reporting Protocols
The Gladiator project’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.
Boris Artinian, P.Geo., Chief Geologist of the Company oversees all exploration activities on the Gladiator Project. Mr. Artinian is a qualified person as defined by National Instrument 43-101 (“NI-43-101”). Marc Ducharme, P.Geo. and Bonterra’s Exploration Manager, approved the information contained in this press release. Mr. Ducharme is a Qualified Person as defined by NI 43-101.
About Bonterra Resources Inc.
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 four main assets, Gladiator, Barry, Moroy, and Bachelor that collectively have a total of 1.24 million ounces in Measured and Indicated categories, and 1.78 million ounces in Inferred category. Importantly, the Company owns the only permitted and operational gold mill in the region that is currently estimated at 75% 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 18-24 months to deliver shareholder value.
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
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.