VAL-D'OR, QC, April 4, 2019 /CNW/ - Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) ("Bonterra" or the "Company") is pleased to announce assay results from its ongoing diamond drilling program at its Gladiator Project located in the Urban Barry exploration camp in northern Québec. The results reported today extend several of the gold-bearing mineralized zones along strike on the Gladiator Deposit.
The Barbeau zone is the southernmost of the mineralized Gladiator structures and is characterized by mineralized smoky quartz veins with pyrite, sphalerite, chalcopyrite and visible gold. Current drilling has extended the zone by 250 metres, confirming its continuity in grade and length with hole BA-19-24 that returned 14.6 g/t Au over 4.6 m. The Barbeau zone has now been outlined over a strike length of 450 metres to a depth of 200 metres.
The Rivage 2 zone, located north of the Gladiator deposit, consists sub-vertical quartz veins mineralized with pyrite, sphalerite and visible gold. Initially discovered by field prospecting in the summer of 2018, the mineralized zone now extends over 350 metres to a depth of 200 metres. Drill hole BA-19-28 returned 37.6 g/t Au over 1.7 m. The Rivage 2 zone remains open along strike and at depth.
The South zone, located in the heart of the Gladiator deposit, was intersected in drill hole BA-19-26A that returned 17.7 g/t Au over 2.0 m. Mineralization typically consists of smoky quartz, pyrite, sphalerite and visible gold. Attesting to the Company's geological modeling and continuity of the mineralized zones, this drill hole was expected to intersect the South zone prior to reaching the Barbeau zone. Additional results are provided in the drilling highlights table below.
Grade Au (g/t)
*Stated lengths are core width as drilled, true widths vary and average between 60 and 80 percent of drilled widths
Greg Gibson, Interim CEO, states: "These drill results continue to demonstrate the potential for strike extensions on the multiple gold-mineralized zones that make up the Gladiator deposit, which we anticipate will translate into additional ounces. This new drilling data on the Gladiator deposit will be included in the upcoming property-wide resource estimate."
The Company uses a rigorous QA-QC analytical program according to industry standards. The analytical results were done by pyroanalysis (A.A.) at the mine laboratory. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The company's QA-QC analytical verification program requires that a minimum of 10% of the samples be audited at an independent laboratory. These audit assays were sent to ALS laboratory located in Val-d'Or, Quebec. The results of the audits are consistent with those obtained.
Bonterra Quick Facts
Currently developing three high-grade gold deposits: Gladiator, Barry and Moroy projects in the mining-friendly jurisdiction of Quebec;
significant regional targets in the Urban Barry Camp.
Bonterra is in the process of upgrading its wholly-owned gold mill, the only permitted mill in the Urban Barry Camp, to increase capacity from 800 to 2400 tpd
a property-wide mineral resource estimate is underway and will include the Gladiator, Barry and Moroy deposits.
Bonterra has a strong shareholder base which includes Wexford Capital, Kirkland Lake Gold and Eric Sprott.
Pascal Hamelin, P.Eng., VP Operations, is the Qualified Person under NI 43-101, responsible for reviewing and approving the technical information contained in this news release.
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. 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: Investor relations: Gary Nassif, 819-279-3551 | [email protected]; 2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9, 819-825-8676 | Website: www.bonterraresources.com