Bonterra Extends New South Zone to 600 m Below Surface; Drilling Intersects 3.8m of 12.0 g/t Au
Vancouver, BC – July 20, 2017: Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce that the current resource development program in and around the Gladiator Gold Deposit has successfully further extended the newly discovered South Gold Zone (see release dated June 6, 2017) by over 300 meters to depth. Drill hole BA-17-22, the first hole collared from the south island location (hanging wall) intersected 3.8 meters of 12 g/t at 600 meters below surface. Additional results have also been received which also considerably extend to depth the Main and North zones.
Highlights and Observations:
- Hole BA-17-22 extends to depth by over 300 meters the new South Zone with 3.8 meters of 12.0 g/t at 600 meters below surface. This is the first intersection from the south island location series of holes that allow for deeper drilling from a southern hanging wall location. This hole is also anticipated to cut through the other known Gladiator zones at depth, and assays are pending for these remaining zones.
- Hole BA-17-15 extends the Main zone to depth from previous drilling with 4.0 meters of 9.1 g/t at 700 meters below surface.
- Hole BA-17-21 has deepened the North Zone to nearly 500 meters or greater for below surface with 3.0 meters of 21.5 g/t.
- Continuity of mineralization is now confirmed over a total drilled strike length (to date) on at least two horizons (Main and Footwall) of 1.2 km, as well as a drilled depth of 1 km.
- New results provide drilled continuity to depths of 500 to 700 meters for additional zones (North and South).
Nav Dhaliwal, CEO and President stated, “Results continue to significantly increase the overall dimensions of the Gladiator Gold Deposit in all directions. We are currently focused on our aggressive resource development program and remain in a strong financial position, having raised $40 million in the first half of 2017. The addition of significant strategic partners and shareholders validates not only the Gladiator Gold Deposit but management’s focus and strategy going forward.”
Dale Ginn, VP Exploration added, “The extension of the new South Zone to depth is significant, noting it is the first result from our southern island location. This location provides access to drill the Rivage Gap area to depth from the hanging wall side of the Gladiator deposit, and enables us to extend the under plunge areas of the other four zones as well.”
Mid Rivage Gap
Please see http://www.bonterraresources.com/en/gladiator/maps-sections for updated cross section.
Bonterra Resources Quick Facts:
- Well financed with $40m raised in the first half of 2017.
- Gladiator Gold Deposit:
- 100% controlled 8,126-hectare in the Urban-Barry Camp in Québec;
- Resource expansion and development program underway utilizing minimum of four drill rigs with up to 40,000 meters planned;
- Drilled dimensions of the Gladiator Deposit are currently outlined to a depth of 800 meters below surface, and a strike length of 1,200 meters (1.2 km);
- Gladiator remains open in all directions with drilling currently focused on the Deep East Zone, the Rivage Gap western side, Rivage Gap infill and a potential Coliseum exploration;
- At least five distinct subparallel zones or mineralized horizons have been identified to date.
- 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);
- Resource development and exploration program underway including upcoming drill program and geological modelling.
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.