Vancouver, BC – February 6, 2018: Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce that the ongoing resource development program at the Gladiator Gold Deposit has extended the North, Footwall and Main Zones by 200 m down plunge to the east. High-grade intersections identified in step-out drilling east of the known mineralization demonstrates the potential for further expansion of the Gladiator Deposit, which remains open in all directions.
Bonterra continues to advance the development of the Gladiator Gold Deposit through definition drilling across all mineralized horizons. Follow up on previous step-out drilling has led to significant results at multiple zones, including 26.7 g/t Au over 3.1 m at the North Zone and 15.8 g/t Au over 3.3 m at the Main Zone.
Dale Ginn, VP Exploration, stated, “Bonterra once again delivers strong results from its resource development program at the Gladiator Gold Deposit. To that effect, we currently have four drills at the deposit to continue with step-out and definition drilling. Recent drill results highlight both the predictability of the mineralized zones and the potential for further expansion of high grade ore shoots at depth. The current step-out drilling demonstrates the potential to expand the Gladiator Deposit, which remains open in all directions.”
Highlights and Observations:
- Hole BA-17-53B extends the North, Footwall and Main Zones by 200 m down-plunge to the east with 6.2 g/t Au over 1.9 m, 4.8 g/t Au over 3.5 m and 4.9 g/t Au over 1.8 m.
- Hole BA-17-45B intersected the Main and South Zones 650 m below surface with 15.8 g/t Au over 3.3 m adding further definition to the high-grade core of the Main Zone.
- Hole BA-17-46 intersected the North Zone with 26.7 g/t Au over 3.1 m and the Main Zone with 8.8 g/t Au over 3 m, demonstrating the continuity of these zones.
- Results from six recent drill holes expand the size and demonstrate the continuity of the North, Footwall, Main and South Zones.
- To date, continuity of mineralization is now confirmed over a total drilled strike length on at least four horizons (North, Footwall, Main and South) of 1,200 m, as well as a drilled depth of 1,000 m.
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.
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Please see http://www.bonterraresources.com/en/gladiator/maps-sections for updated maps, including long sections and cross sections.
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%).
- Gladiator Gold Deposit:
- Deposit extension and resource expansion underway with 60,000 m completed in 2017 and 70,000 m planned for 2018.
- Advancing to the completion of an updated NI 43-101 Mineral Resource Estimate in second half of 2018, which is anticipated to include up to an additional 100,000 m of drilling from 2012 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 subparallel zones or mineralized horizons have been identified.
- Drilling currently focused the extension and definition of the Gladiator Gold Deposit and exploration targets within the 10,541hectare Urban-Barry property.
- Larder Lake Gold Property:
- 100% controlled 2,221hectare 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.
For further information on Bonterra, contact Investor Relations:
Telephone: 1 844 233 2034
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.