VANCOUVER, Nov. 20, 2017 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or "Bonterra") is pleased to highlight the construction of a new, all-season exploration camp at the Gladiator Gold Project. The expansion to a larger year-round exploration camp will support the continued advancement of the aggressive resource development program at the Gladiator Gold Deposit. Bonterra plans to mobilize two additional drills (totaling six) in early 2018 for a winter drilling campaign.
Overview of New Exploration Camp and Infrastructure Improvements:
- Completion of expandable, all-season camp
- High-speed communications network
- Construction and rehabilitation of 6 km of property main access road
- Development of 7 km trails network to the Coliseum area
- Ongoing revegetation and site reclamation program
- An additional 65,000 m of core storage
Dale Ginn, VP Exploration, stated, "The expansion and construction of a year-round camp provides the key infrastructure required to ensure we execute our resource development program at the Gladiator Gold Project on budget and on time to meet the market's expectations of a mineral resource update in 2018."
Bonterra Resources Quick Facts:
- Well financed with $40 million raised in 2017.
- Strong Shareholder Base: Eric Sprott (10%), Van Eck Gold Fund (12%), Kirkland Lake Gold (9.5%), Kinross (7.5%).
- Gladiator Gold Deposit:
- Deposit extension and resource expansion underway utilizing minimum of four drill rigs with 50,000 m to be completed in 2017; up to six rigs in 2018.
- Advancing to the completion of an updated NI 43-101 Mineral Resource in 2018, which is anticipated to include up to an additional 100,000 m of drilling from 2015 through 2018.
- Drilled dimensions of the Gladiator Deposit are currently outlined to a depth of 1,200 m below surface, and a strike length of 1,200 m.
- Gladiator remains open in all directions, where at least five distinct sub parallel zones or mineralized horizons have been identified.
- Drilling currently focused the continued expansion of Gladiator Gold Deposit, and drill testing of the Coliseum Gold Zone to the southwest.
- Larder Lake Gold Property:
- 100% controlled 2,221-hectare in the Cadillac-Larder Break camp in Ontario (refer to March 17, 2016 news release highlighting historical gold resource).
- Excellent access to three high grade gold deposits between Kirkland Lake and Virginiatown.
Robert Gagnon, P.Geo., has approved the information contained in this release. Mr. Gagnon is a director of Bonterra and is a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
Bonterra Resources Inc.
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. 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; increases in input costs; litigation, legislative, 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. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
SOURCE BonTerra Resources Inc.
For further information: For further information on Bonterra, contact Investor Relations: Telephone: 1 844 233 2034, Email: [email protected], Website: www.bonterraresources.com