VANCOUVER, Nov. 9, 2017 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or "Bonterra") is pleased to announce that the ongoing Resource Development Program in and around the Gladiator Gold Deposit has successfully increased the width of the Main Zone and extended the strike length of multiple gold-bearing horizons. The results from the current drilling campaign continue to expand the size and further confirm the continuity of the Gladiator Gold Deposit. Noting the aggressive drill program at Gladiator, assays from multiple drill holes are pending in lab, and the Company anticipates additional drill results in the near future.
Highlights and Observations:
Results from six (6) recent drill holes have increased the width of the Main Zone and have extended the strike length of the Footwall and North Zones.
Hole BA-17-38 extends the North Zone down plunge to 700 m below surface with 4.0 m of 7.3 g/t Au including 24.8 g/t over 1.0 m.
Hole BA-17-38 increases width and grade down plunge in the Main Zone with 9.4 m of 8.2 g/t Au at 800 m depth.
Hole BA-17-37 confirms the eastern continuity of the South Zone with 1.5 m of 17.6 g/t Au at 500 m depth.
Hole BA-17-39B extends the Footwall Zone to the east below surface with 5.0 m of 11.5 g/t Au at 500 m below surface.
To date, continuity of mineralization is now confirmed over a total drilled strike length on at least two horizons (Main and Footwall) of 1,200 m, as well as a drilled depth of 1,200 m.
Nav Dhaliwal, CEO and President, stated,"We continue to establish the Gladiator Gold Deposit as a very large gold system, with multiple parallel gold horizons that continue to be expanded along strike and also appear to show signs of increased width, as shown in hole BA-17-38, where 8.2 g/t Au over 9.4 m was intersected. Since 2011, approximately 88,500 m of drilling has been completed at the Gladiator Gold Deposit, which includes over 40,000 m so far in 2017. As we approach our winter drill program, we are looking to expand up to six drill rigs to ensure we continue our expansive resource development program. Because of our continued drilling success over the last two years at Gladiator, we have a high level of confidence that in 2018, we will be in a position to significantly upgrade the size of the geological model and complete a sizable mineral resource update."
Stated lengths are core width as drilled, true widths vary and average between 60 and 80 percent of drilled widths. Core axis angles of the intersection contacts and surrounding rock units average 55 to 70 degrees.
Bonterra Resources Quick Facts:
Well financed with $40 million raised in 2017.
Gladiator Gold Deposit:
Deposit extension and resource expansion underway utilizing minimum of four drill rigs with 50,000 m planned in 2017;
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 with drilling currently focused on the Rivage Gap western side, new north and south veins infill and exploration in and around the Coliseum Gold Zone;
At least five distinct subparallel zones or mineralized horizons have been identified.
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: on Bonterra, contact Investor Relations, Telephone: 1 844 233 2034, Email: [email protected], Website: www.bonterraresources.com