Val-d’Or, QC – March 16, 2022 – Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) (“Bonterra” or the “Company”) is pleased to announce results from the ongoing expansion diamond drilling 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 last updated mineral resource estimate (the “2021 MRE”, see press release dated June 23, 2021).
The ongoing expansion drilling program at Gladiator continues to effectively expand the size of the mineralized volume with recent results confirming the down plunge potential of the deposit, over 300 metres (“m”) from the existing mineral resource envelope.
Assays from 28 expansion diamond drill holes outside the 2021 MRE, have been received since the Company’s November 22, 2021 press release. The assay results included in this press release are highlighted by:
Marc-Andre Pelletier, CEO commented: “These recent drill results confirm the potential to add more resources at depth at Gladiator, extending the existing mineral resource by over 300 m down plunge. Recent drilling along strike and down dip to the east has extended the gold mineralization over 2,000 m along strike and 1,200 m below surface. The Gladiator deposit remains our flagship asset and demonstrates strong potential for continued growth. Bonterra is currently working on the design and the permitting of an exploration ramp at Gladiator (the “Ramp”) that will provide the Company with an enhanced drilling platform to explore the high-grade mineralization encountered at depth year around. This Ramp is essential to the development of the Gladiator project and the
construction work will start once all approvals received, anticipated in early 2023.”
The Company is currently drilling at a rate of approximately 6,000 m per month, which is balanced between expansion drilling at the Gladiator and Barry deposits and testing regional targets on the Urban-Barry land package. An exploration program is also planned at the Desmaraisville property near the Bachelor Mine Complex.
The recent drilling has intersected the down plunge extension of the North Zone with hole BA-21-60 intersecting 28.1 g/t Au over 2.9 m, including 162 g/t Au over 0.5 m, hole BA-21-53A intersecting 13.1 g/t Au over 1.5 m, including 37.7 g/t Au over 0.5 m and 18.6 g/t Au over 0.5 m. Results obtained from hole BA-22-01 intersected steeply North Dipping structures over 300 m down plunge from the last shape reported in 2021 MRE intersecting up to 69.5 g/t Au over 2.2 m, including 305 g/t Au over 0.5m (Figures 1 and 2).
The Gladiator deposit consists of a set of shears 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 three verticals strongly deformed shear hosted veins trending 90 degrees azimuth located about 2 km to the Northeast 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 and 2).
The following table shows the significant intersections of the drill holes presented in this press release.
The Gladiator project’s drill core gold analyses in this release are performed at the Company’s Bachelor Mine analytical laboratory and at AGAT Laboratories, located in Val-d’Or, Quebec. The Company employs a rigorous QA-QC analysis program that meets industry standards. The analyses are conducted 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 from the Bachelor Mine analytical laboratory 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., (OGQ # 1546) Chief Geologist of the Company oversees all exploration activities on the Gladiator property and has compiled and approved the information contained in this press release. Mr. Artinian is a qualified person as defined by National Instrument 43-101 (“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. Bonterra is focused on graduating from advanced exploration to a development company to deliver shareholder value.
Marc-Andre Pelletier, 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.
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.