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Bonterra's Winter Drill Program Discovers 6th Parallel Gold Zone at the Gladiator Gold Deposit
Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the "Company" or "Bonterra") is pleased to announce the first significant intersections of a new "sixth parallel" gold zone at the Gladiator Gold Deposit. This newly discovered gold zone, located approximately 50 m south of the Barbeau Zone, is parallel to and geologically similar to the other five mineralized zones currently modelled at the expanding deposit. Additional drilling is now underway to test further to the south to intercept and expand this new zone. The ongoing drilling campaign, which will total ~70,000 m in 2018, includes infill and expansion drilling at the Gladiator Gold Deposit. Multiple drill holes are in the lab with assays pending.
Highlights and Observations:
-- A new gold zone was recently discovered in Hole BA-18-09, at
the Gladiator Gold Deposit, with 11.8 g/t Au over 2.6 m
intercepted south of the Barbeau Zone, increasing the number
distinct mineralized gold zones to six.
-- Infill drill results continue to demonstrate the continuity of
the deposit, highlighting the predictability of the mineralized
zones.
-- Hole BA-18-12 intersected 16.3 g/t Au over 3.4 m at the South
Zone at 266 m depth. This intersection continues to confirm the
continuity of the South Zone on the western side of the
Gladiator Deposit.
-- Hole BA-18-11 intersected high-grade gold in five mineralized
zones, including 10.1 g/t Au over 2.4 m in the Barbeau Zone.
This highlights the predictability of multiple mineralized
zones and validates the geological model.
-- Hole BA-18-10A intersected 16.5 g/t Au over 2.2 m in the Main
Zone and confirms the continuous nature of the modelled
mineralized 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.
Hole From To Length* Grade Zone/Area
(m) (m) (m) (g/t Au)
--- --- --- --- --------
BA-18-09 170.0 172.0 2.0 3.9 North
-------- ----- ----- --- --- -----
BA-18-09 375.7 377.0 1.3 5.9 FW
-------- ----- ----- --- --- ---
BA-18-09 438.0 439.1 1.1 3.5 Main
-------- ----- ----- --- --- ----
BA-18-09 764.0 766.6 2.6 11.8 New
-------- ----- ----- --- ---- ---
BA-18-10A 681.5 683.7 2.2 16.5 Main
--------- ----- ----- --- ---- ----
BA-18-11 61.5 63.0 1.5 4.9 Main
-------- ---- ---- --- --- ----
BA-18-11 103.0 105.0 2.0 8.5 South
-------- ----- ----- --- --- -----
BA-18-11 118.8 120.4 1.6 7.7 South
-------- ----- ----- --- --- -----
BA-18-11 177.0 179.4 2.4 10.1 Barbeau
-------- ----- ----- --- ---- -------
BA-18-11 308.0 310.0 2.0 6.4 New
-------- ----- ----- --- --- ---
BA-18-12 266.0 269.4 3.4 16.3 South
-------- ----- ----- --- ---- -----
*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.
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 approximately $60 million raised in past 12
months.
-- Strong Shareholder Base including: Eric Sprott, Van Eck,
Kirkland Lake Gold
-- Gladiator Gold Deposit:
o Deposit extension and resource expansion underway with 60,000 m
completed in 2017 and 70,000 m planned for 2018.
o Advancing to the completion of an updated NI 43-101 Mineral
Resource Estimate in the second half of 2018.
o Drilled dimensions of the Gladiator Gold Deposit are currently
outlined to a depth of 1,000 m below surface, and a strike length
of 1,200 m.
o Gladiator remains open in all directions, where at least six
distinct sub-parallel zones or mineralized horizons have been
identified.
o Drilling is currently focused on the continued expansion of
Gladiator Gold Deposit and exploration targets within the
10,541-hectare Urban-Barry property.
-- Larder Lake Gold Property:
o 100% controlled 2,221-hectare in the Cadillac-Larder Break camp in
Ontario (refer to March 17, 2016 news release highlighting
historical gold resource).
o 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 & CEOBonterra 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.
on Bonterra, contact Investor Relations, Telephone: 1 844 233 2034, Email: [email protected], Website: www.bonterraresources.com
SOURCE Bonterra Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2018/09/c2740.html
SOURCE: Bonterra Resources Inc.
on Bonterra, contact Investor Relations, Telephone: 1 844 233 2034, Email:
[email protected], Website: www.bonterraresources.com
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