NEWS:BTR Commences 2016 Drill Program of up to 25,000 metersBonTerra Commences 2016 Drill Program of up to 25,000 meters on its Gladiator Gold Project in Qubec Canada Vancouver, BC – February 02, 2016:
BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “
Company” or “
BonTerra”) is pleased to announce that the 2016 Multi-Phase Exploration and Drill Program has commenced on its 100% owned Gladiator Gold Project located north of Val d’Or, Qubec.
Nav Dhaliwal, President and CEO of BonTerra, stated: “In 2015, our technical team significantly increased their level of confidence and knowledge of the mineralized gold system discovered at depth and along strike at the Gladiator Gold Project. With this higher level understanding of the multiple previously known and newly discovered mineralized zones, we are confident that by applying a multi-phase exploration program we will not only be able to increase the existing gold resource on the property, but we will also discover other mineralized zones lying parallel and along strike. In 2016, we intend to complete over ten times the amount of diamond drilling versus our highly successful 2015 drill program. Adding in a concurrent extensive geophysical program, and remodeling of historical data, we intend to deliver results that reward our shareholders and to build Qubec’s most exciting gold exploration company.” 2016 Exploration and Drill Program Highlights: · Fully funded through recent strategic financings;
· Multi-phase drill programs (totaling up to 25,000 meters) to explore the gold mineralization and structures outlined in our late-2015 drill program;
Initial 10 hole (2,500 meter) drill program commenced February 2, 2016 utilizing one drill rig;
· Immediately mobilize a second larger drill rig in late February focused on defining the further extension of the gold mineralization envelope downward and along strike of the Spartacus trend;
· Further define known geological resources reported to-date and expand and potentially upgrade from the inferred category to the indicated category.
Dale Ginn, VP of Exploration of BonTerra also commented: “
In early 2016, we will be targeting extensions to the zones as outlined in the 2015 drill program. Winter ice access will allow us to reach plunge and strike extensions with proper angles and spacing. Additionally, we will be following up on trends as defined by our recently completed ground geophysical programs. While the bulk of the drill program will be focused in and around the main Gladiator zones, twenty to thirty percent of this year’s drilling will be dedicated to the discovery of new zones within our Arena and Coliseum property packages.”
Dale Ginn, P.Geo. has approved the information contained in this release. Mr. Ginn is a Director and Vice President of Exploration for BonTerra and is a Qualified Person as defined by NI 43-101.
BonTerra Resources Quick Facts: · Using a 4 g/t Au cut-off grade, the project currently contains an
inferred resource of 905,000 tonnes, grading 9.37 g/t Au for 273,000 ounces of gold. Of note, ~90% of the worlds operating mines have an average gold grade less than 8 g/t. Mineral Resource Estimate and technical report filed July 27, 2012, Snowden Mining Consultants.
·
~$3.5 million in Cash as at January 1, 2016; ~53 million shares outstanding.
· 2016 Exploration Program underway – up to 25,000 meters utilizing minimum of two drill rigs at its 100% owned Gladiator Gold Project to expand current gold resource.
o
BA-15-01 intersected 14.1 g/t Au over 6.6m (announced November 4, 2015) o
BA-15-02 intersected 7.2 g/t Au over 7.7m (announced December 2, 2015) · Located in the Abitibi Greenstone Belt in mining-friendly Qubec.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc. For additional information, please contact:
Todd Hanas
Corporate Development
E:
todd@bonterraresources.com T: 866.869.8072
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.