Val-d’Or, QC – September 08, 2021 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce results from the ongoing drilling campaign at the Barry project. Recent drilling results expand upon the northeast sector of the Barry deposit near surface and at depth (Figures 1 and 2). The latest results encompass 13 diamond drill holes designed to expand the 2021 mineral resource estimate (“2021 MRE”) released in June (see press release dated June 23, 2021). Drilling highlights include 16.5 g/t grams-per-tonne gold (“g/t Au”) over 2.7 metres (“m”) in a new zone named H16, immediately northeast of the 2021 MRE.
The Company is currently drilling at a rate of approximately 6,000 m per month, focused on its main gold deposits to expand upon the recently released 2021 MREs. 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.
Pascal Hamelin, CEO commented: “The results released today support our view that substantial near surface exploration potential exists at Barry. Recent exploration drilling hit both thick, continuous mineralization at open pit depth and high-grade intervals within 200 m depth immediately adjacent of the 2021 MRE. We look forward to receiving more diamond drill results from this area soon.”
Figure 1 – Barry Project – Drill Hole Location Map.
See Figure 2 for details of drill holes in the northeast sector of the Barry deposit
Figure 2 – Barry Project – Drill Hole Location Detailed Map
The Barry drilling campaign is currently focused on the expansion of key gold mineralized zones around the 2021 MRE. Multiple diamond drill holes tested open pit potential to the northeast of the open pit resource shell in the 2021 MRE and followed up on deeper intercepts in hole MB-20-323 in the same sector (see press release dated March 1, 2021). Near-surface mineralization above open pit cut-off grade was intercepted up to 100 m northeast of the existing pit shell (Table 1, Figures 2, 3 and 4). Mineralization remains open to the east. Drilling also confirmed the presence of several H-type zones north of the 1000 zone, returning high-grade intercepts at less than 200 m depth and laterally within 50 to 250 m of the existing resource along the 1000 zone (Table 1, Figures 2, 3 and 4). Follow-up drilling on these very promising targets is expected to begin soon in order to better define their geometries. Several drill holes also continued to test extensions of the H series structures to the southwest, with success along the H3 zone, outlining continued potential at depth (Table 1 and Figure 1).
Figure 3 – Barry Project – Composite Cross Section (MB-21-357, MB-21-358, MB-21-359, MB-21-360, MB-21-362)
Figure 4 – Barry Project – Composite Cross Section (MB-21-355, MB-21-368, MB-21-369, MB-21-370)
The Barry gold deposit is characterized by three dominant sets of structures, all dipping to the southeast. The sub-vertical shear zones and the H-Series shear zones dipping 25 to 40 degrees are hosted within intermediate to mafic volcanics and tuffs with local felsic intrusions. Contact zones dip at 50-65 degrees along the lower and upper contacts of the D1, D2 and D3 felsic intrusions with mafic volcanics. Gold mineralization is associated with disseminated sulfides within shear zones and veins with local visible gold. The Barry deposit has been delineated over 1.4 kilometres along strike and 700 m vertical and remains open for expansion.
Table 1: Barry Drillhole Results Highlights
The Barry 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.
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 NI 43-101.
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.
Pascal Hamelin, President & CEO
2872 Sullivan Road, Suite 2, Val d’Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.com
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Cautionary and Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that implies predictions, expectations, interpretations, opinions, plans, projections, objectives, assumptions, future events or performance (often using words such as “expects” or “does not expect”, “is expected”, “interpreted”, “in management’s opinion”, “anticipates”, or “plans”, “budget”, “schedule”, “forecasts”, statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved) is not a statement of historical fact and may constitute forward-looking information and is intended to identify forward-looking information. This news release may contain forward-looking information relating to, among other things, the outlook for the Gladiator, Barry, and Moroy projects; updated mineral resources; the deposit remaining open laterally and at depth; and future drilling. These factors include, but are not limited to, risks associated with the ability of exploration activities (including drilling results) to accurately predict mineralization; the Company’s ability to obtain required approvals; the results of exploration activities; risks associated with mining operations; global economic conditions; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based on assumptions that management believes are reasonable at the time of release, Bonterra cannot assure shareholders and prospective purchasers of the Company’s securities that actual results will be consistent with the forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Bonterra nor any other person assumes responsibility for the accuracy or completeness of forward-looking information. All statements made, other than statements of historical fact, that address the Company’s intentions and the events and developments that the Company anticipates, are considered forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ from those in the forward-looking statements.