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BonTerra Resources Inc V.BTR

Alternate Symbol(s):  BONXF

Bonterra Resources Inc. is a Canada-based gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company is engaged in the business of acquiring, exploring, and evaluating natural resource properties in the province of Quebec. The Company’s assets include Gladiator, Barry, Moroy, and Bachelor. The Company holds a 100% interest in 436 mineral claims covering 22,779.32 hectares surrounding the town of Desmaraisville. The Bachelor Mine is located on one mining concession, and one mining lease, four kilometers (km) south of Highway 113 and 90 km northeast of the city of Lebel-sur-Quevillon. The Company holds a 100% interest in 21 mineral claims in the city of Val-d’Or in Quebec covering 457.53 hectares. The Company holds a 90% interest in two mining leases north of the town of Skead within the city of Greater Sudbury in Ontario. The two mining leases cover an area of approximately 129.99 hectares.


TSXV:BTR - Post by User

Post by iluv2buyemon Sep 07, 2022 8:58am
156 Views
Post# 34946062

NEWS ! ! Bonterra Intersects 1.8 g/t Au over 23.2 m and 2.5

NEWS ! ! Bonterra Intersects 1.8 g/t Au over 23.2 m and 2.5

Bonterra Intersects 1.8 g/t Au over 23.2 m and 2.5 g/t Au over 10.5 m at the Barry Open Pit Project and Provides Operational Update


Val-d'Or, Quebec--(Newsfile Corp. - September 7, 2022) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to announce results from the drilling campaign at the Barry open pit project. The Company just completed a 25,000 metres ("m") definition drill campaign surrounding the near surface mineralization at the Barry gold deposit to further define extensions of the mineral resources. Today's results obtained from 54 drill holes are expected to be included in a new mineral resource estimate ("MRE") in preparation of the pre-feasibility study ("PFS") expected to be completed later this year. The Company has selected a group of experienced consultants, including BBA (BBA.ca) as lead consultant, and the PFS is now underway.

Bonterra is also pleased to announce that is has commenced 125,000 m of infill drilling on the underground portion of the Barry deposit, which contains 0.5 million ounces of Measured and Indicated Mineral resources and 0.7 million ounces of Inferred Mineral resources, as stated in the 2021 MRE ("2021 MRE"). The Company continues to execute on its strategy of moving toward the production re-start of the open pit at Barry while developing the higher-grade underground mineralization in parallel.

The Company is currently drilling at a rate of approximately 6,000 m per month, focused on infill drilling the underground portion of the Barry deposit highlighted within the 2021 MRE.

Highlights include:

  • 1.8 g/t Au over 23.2 m, including 3.0 g/t Au over 4.0 m and 11.4 g/t Au over 1.5 m in hole MB-22-434
  • 2.5 g/t Au over 10.5, m including 7.3 g/t Au over 1.6 m in hole MB-22-452
  • 1.0 g/t Au over 37.0, m including 3.2 g/t Au over 8.6 m in hole MB-22-470
  • 1.8 g/t Au over 15.5, m including 11.2 g/t Au over 1.0 m in hole MB-22-458
  • 6.3 g/t Au over 4.1, m including 27.2 g/t Au over 0.7 m in hole MB-22-495
  • 5.9 g/t Au over 6.6, m including 20.1 g/t Au over 1.2 m in hole MB-22-460

Operational Updates

The Company also announces that is has elected to put the underground infrastructure at the Bachelor-Moroy deposit under long-term care and maintenance and expects to complete this process early in the fourth quarter. This decision was made after a detailed analysis of the economic potential of the Moroy deposit, considering the costs involved in maintaining the underground infrastructure de-watered and in good standing. It is important to note, that the status of the assay lab, camp, mill, and the tailings management area (the "Bachelor Mill Complex") remains unchanged, and that these assets are key components of the planned re-start of production at the Barry open pit project.

At the Bachelor Mill Complex, the permitting process for the mill and tailings management area expansion is still ongoing at the COMEX. Considering the abovementioned changes at the Bachelor-Moroy deposit, a scope change will be submitted shortly to the COMEX for their review.

At the Gladiator deposit, the Company has undertaken an exploration drill campaign on barges that was completed as scheduled at the end of July. The geological team at Bonterra will continue working on the mineral resources model and geological interpretation of the deposit as drill results from the campaign become available. The team is also planning a more focused drill program for next year.

Marc Andr Pelletier, President and CEO commented: "These recent drill results confirm the grade continuity of the near surface mineralization at the Barry deposit and will be used to further refine our geological model as part of the PFS that is expected to be completed by year end. The PFS is an important milestone in our renewed strategy of advancing the Company toward production, starting with the Barry open pit.

Bonterra expects that the decision to place the underground infrastructure at the Bachelor-Moroy deposit on long-term care and maintenance will reduce the annual maintenance costs by at least $3 million/year and will allow the Company to reallocate these financial resources toward advancing the development of the Barry deposit."

Cannot view this image? Visit: https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_001.jpg
Figure 1 - Barry Project - Drill Hole Location Map, Plan View.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_001full.jpg

The infill drilling program was designed to fill gaps in the drill spacing inside and immediately around the pit shell from the 2021 MRE. The results confirmed the shape of the mineralization and the grades predicted by the bloc model from the 2021 MRE. Hole MB-22-434 returned 1.8 g/t Au over 23.2 m in zone D4 in the south-west pit (fig. 2), hole MB-22-470 returned 1.0 g/t Au over 37.0 m, including 3.2 g/t Au over 8.6 m from zone AB07 in the main pit (fig. 3) and hole MB-22-452 returned 2.5 g/t Au over 10.5 m just 10 m under the main pit in zone AB07 (fig. 4).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_002.jpg
Figure 2 - Barry Project - Cross Section 30m, southwest pit (Hole MB-22-434, MB-22-436,
MB-22-505, MB-22-495, MB-22-434), Looking southwest.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_003.jpg

Figure 3 - Barry Project - Cross Section 25m, Main Pit, (Hole MB-22-470, MB-22-469, MB-22-463), Looking southwest.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_004.jpg

Figure 4 - Barry Project - Cross Section 25m, Main Pit, Hole (MB-22-452), Looking southwest.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_004full.jpg

The expansion drilling program was aimed to better define the mineral resources surrounding the 2021 MRE. Hole MB-22-458 returned 1.8 g/t Au over 15.5 m and Hole MB-22-460 returned 5.9 g/t Au over 6.6 m in zone H6, 35 m below the surface and 45 m to the west of the southwest pit (fig. 5).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_005.jpg
 

Figure 5 - Barry Project - Cross Section 25 m, southwest pit extension, (Hole BA-22-458, MB-22-460), Looking southwest.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/136153_c1ed012f14116910_005full.jpg

Barry Deposit Geology

The Barry gold deposit is characterized by three dominant sets of structures, all dipping to the southeast. The sub-vertical shear zones and the H-Series shear zones dipping 25 to 40 degrees are hosted within intermediate to mafic volcanics and tuffs with local felsic intrusions. Contact zones dip at 50-65 degrees along the lower and upper contacts of the D1, D2 and D3 felsic intrusions with mafic volcanics. Gold mineralization is associated with disseminated sulfides within shear zones and veins with local visible gold. The Barry deposit has been delineated over 1.4 kilometres along strike and 700 m vertical and remains open for expansion.

The following table shows the significant intersections of the drill holes presented in this press release.

Program Hole ID   From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
Zones
Pit extension NE MB-21-415   104.2 122.5 18.3 0.5 Intrusion D3
Pit extension NE MB-22-424   15.9 18.7 2.8 2.3 AB08
Pit extension NE MB-22-424   23.0 50.5 27.5 0.6 Intrusion D3
Pit Infill MB-22-430   44.8 61.2 16.4 1.8 802
Pit Infill MB-22-430 Including 44.8 50.4 5.6 3.8 802
Pit Infill MB-22-430   84.0 84.6 0.6 9.0 New H
Pit Infill MB-22-430   103.6 107.7 4.1 2.0 800
Pit Infill MB-22-430 Including 105.2 106.5 1.3 5.2 800
Pit Infill MB-22-430   172.1 173.8 1.7 4.1 New H
Pit Infill MB-22-430 Including 172.1 172.6 0.5 11.8 New H
Pit Infill MB-22-432   110.9 122.3 11.4 0.9 Intrusion D2
Pit Infill MB-22-433   37.7 40.5 2.8 2.2 New H
Pit Infill MB-22-433   52.0 60.2 8.2 0.7 AB15
Pit Infill MB-22-434   49.5 72.7 23.2 1.8 D4
Pit Infill MB-22-434 Including 49.5 53.5 4.0 3.0 D4
Pit Infill MB-22-434 And Including 61.8 63.3 1.5 11.4 D4
Pit Infill MB-22-434   81.0 104.2 23.2 1.2 Intrusion D2
Pit Infill MB-22-434 Including 94.0 95.1 1.1 8.3 Intrusion D2
Pit Infill MB-22-434 And Including 97.5 98.3 0.8 14.8 Intrusion D2
Pit Infill MB-22-434   111.6 132.2 20.6 0.9 D2
Pit Infill MB-22-434 Including 113.7 114.3 0.6 10.6 D2
Pit Infill MB-22-435   97.8 99.5 1.7 3.0 AB17
Pit Infill MB-22-435   121.0 131.3 10.3 1.2 AB23
Pit Infill MB-22-435 Including 130.0 130.5 0.5 11.2 AB23
Pit Infill MB-22-436   19.2 31.0 11.8 1.5 H17
Pit Infill MB-22-436 Including 26.3 29.8 3.5 2.9 H17
Pit Infill MB-22-436   41.0 96.7 55.7 0.5 Intrusion D2 / D2
Pit Infill MB-22-436 Including 95.5 96.7 1.2 8.2 Intrusion D2 / D2
Pit Infill MB-22-437   6.6 18.0 11.4 0.5 D4
Pit Infill MB-22-438   42.6 56.6 14.0 1.3 AB14/800
Pit Infill MB-22-438 Including 51.2 54.4 3.2 4.8 AB14/800
Pit Infill MB-22-438   129.6 137.5 7.9 0.7 D2
Pit Infill MB-22-440   100.3 110.4 10.1 0.7 D2
Pit Infill MB-22-442   59.0 65.0 6.0 1.5 D2
Pit Infill MB-22-442 Including 59.0 60.7 1.7 4.2 D2
Pit Infill MB-22-442   73.2 75.0 1.8 2.8  
Pit Extension S MB-22-443   38.4 40.0 1.6 3.4 New H
Pit Extension S MB-22-443   102.2 103.0 0.8 10.9 AB10
Pit Extension S MB-22-447   44.7 54.0 9.3 0.7 New H
Pit Extension S MB-22-447   67.6 72.5 4.9 1.3 AB07
Pit Infill MB-22-449   25.8 48.8 23.0 0.8 D4
Pit Infill MB-22-449   151.0 156.2 5.2 2.1 D2
Pit extension SW MB-22-451   49.5 54.2 4.7 1.4 H17
Pit extension SW MB-22-451 Including 53.3 54.2 0.9 5.8 H17
Pit Infill MB-22-452   14.1 17.0 2.9 2.6 800
Pit Infill MB-22-452 Including 15.5 16.5 1.0 6.4 800
Pit Infill MB-22-452   54.5 65.0 10.5 2.5 D3/AB07
Pit Infill MB-22-452 Including 57.4 59.0 1.6 7.3 D3/AB07
Pit Infill MB-22-452   73.4 80.0 6.6 1.4 AB08
Pit extension SW MB-22-453   19.3 21.0 1.7 4.3 D4
Pit Infill MB-22-454   16.7 25.9 9.2 1.3 H17
Pit Extension S MB-22-455   83.7 92.0 8.3 0.9 800
Pit Extension S MB-22-455   99.0 102.3 3.3 1.7 AB09
Pit extension SW MB-22-456   46.4 51.3 4.9 1.5 H6
Pit extension SW MB-22-456 Including 47.7 49.5 1.8 3.7 H6
Pit Infill MB-22-457   7.2 7.7 0.5 11.9 New
Pit Infill MB-22-457 Including 153.0 154.5 1.5 4.3 D2
Pit extension SW MB-22-458   38.8 54.3 15.5 1.8 H6
Pit extension SW MB-22-458 Including 48.5 49.5 1.0 11.2 H6
Pit Infill MB-22-459   12.5 18.5 6.0 1.1 New
Pit Infill MB-22-459   44.2 49.4 5.2 4.1 D4
Pit Infill MB-22-459 Including 48.8 49.4 0.6 22.3 D4
Pit Infill MB-22-459 Including 56.1 57.0 0.9 5.7 Intrusion D2
Pit extension SW MB-22-460   33.3 36.3 3.0 3.5 New H
Pit extension SW MB-22-460 Including 33.3 34.5 1.2 6.4 New H
Pit extension SW MB-22-460   69.5 76.1 6.6 5.9 H6
Pit extension SW MB-22-460 Including 74.4 75.6 1.2 20.1 H6
Pit Infill MB-22-461   100.5 101.0 0.5 11.4 Intrusion D1
Pit extension SW MB-22-462   159.0 176.2 17.2 0.5 D2
Pit extension SW MB-22-462   179.8 185.1 5.3 1.5 D2
Pit Extension S MB-22-463   98.8 186.7 87.9 0.6 801/AB09/AB20
Pit Extension S MB-22-463 Including 106.2 106.7 0.5 36.4 801
Pit Extension S MB-22-463 Including 136.7 137.7 1.0 12.0 800
Pit Infill MB-22-464   19.1 42.2 23.1 1.0 D4
Pit Infill MB-22-464 Including 26.8 29.7 2.9 3.0 D4
Pit Infill MB-22-464 Including 87.2 88.1 0.9 6.1 D4
Pit Infill MB-22-464   103.9 116.6 12.7 2.1 D2
Pit Infill MB-22-464 Including 112.8 113.3 0.5 44.9 D2
Pit Infill MB-22-465   35.0 45.1 10.1 0.6 AB14
Pit Infill MB-22-467   20.0 27.8 7.8 1.6 AB14
Pit Extension S MB-22-468   97.0 101.8 4.8 1.3 800
Pit Infill MB-22-469   12.0 65.4 53.4 0.8 AB07/D5
Pit Infill MB-22-469 Including 52.5 57.1 4.6 6.7 D5
Pit Infill MB-22-470   16.0 53.0 37.0 1.0 AB07/D5
Pit Infill MB-22-470 Including 28.5 37.1 8.6 3.2 AB07
Pit extension N MB-22-473   6.8 23.8 17.0 0.9 D2
Pit extension N MB-22-473 Including 11.0 12.5 1.5 6.1 D2
Pit Extension S MB-22-474   137.8 161.7 23.9 1.2 800
Pit Extension S MB-22-474 Including 137.8 142.5 4.7 3.3 800
Pit extension N MB-22-475   32.0 33.9 1.9 4.3 H8
Pit Infill MB-22-476   35.5 39.0 3.5 4.6 D2
Pit Infill MB-22-476 Including 35.5 36.0 0.5 28.1 D2
Pit Infill MB-22-478   9.0 35.8 26.8 0.5 Intrusion D2
Pit Infill MB-22-478   73.0 82.4 9.4 1.0 D2
Pit Infill MB-22-478 Including 76.8 78.6 1.8 4.7 D2
Pit Infill MB-22-481   101.7 103.3 1.6 4.0 D2
Pit Infill MB-22-482   11.2 14.0 2.8 7.7 D2
Pit Infill MB-22-482 Including 11.2 12.0 0.8 26.0 D2
Pit Infill MB-22-484   67.0 73.8 6.8 1.0 D2
Pit Infill MB-22-485   11.4 15.2 3.8 2.9 New vertical
Pit Infill MB-22-485 Including 13.3 15.2 1.9 5.4 New vertical
Pit Infill MB-22-485   30.3 44.6 14.3 0.7 New vertical
Pit extension N MB-22-488   52.8 57.6 4.8 6.4 H8
Pit extension N MB-22-488 Including 55.6 56.1 0.5 58.1 H8
Pit Infill MB-22-491   70.5 74.0 3.5 1.8 D2
Pit Infill MB-22-492   84.8 89.2 4.4 5.4 D2
Pit Infill MB-22-492 Including 86.5 87.6 1.1 17.7 D2
Pit extension SW MB-22-493   82.5 90.0 7.5 4.5 H6
Pit extension SW MB-22-493 Including 86.0 89.4 3.4 7.5 H6
Pit Infill MB-22-494   110.8 121.6 10.8 0.5 D2
Pit extension SW MB-22-495   69.8 72.7 2.9 2.4  
Pit extension SW MB-22-495   76.6 84.0 7.4 1.3 H17
Pit extension SW MB-22-495 Including 81.0 82.0 1.0 7.1 H17
Pit extension SW MB-22-495   106.6 110.7 4.1 6.3 H6
Pit extension SW MB-22-495 Including 109.3 110.0 0.7 27.2 H6
Pit extension SW MB-22-495   117.0 119.4 2.4 4.3 D2
Pit extension SW MB-22-495 Including 117.0 118.4 1.4 7.3 D2
Pit extension SW MB-22-496   78.0 91.0 13.0 1.4 New H
Pit extension SW MB-22-496 Including 78.8 81.7 2.9 5.2 New H
Pit Infill MB-22-499   102.0 103.0 1.0 9.8 Intrusion D2
Pit Infill MB-22-501   4.6 24.5 19.9 0.5 D4
Pit Infill MB-22-501   49.1 53.1 4.0 2.1 Intrusion D2
Pit Infill MB-22-501 Including 49.7 50.2 0.5 10.9 Intrusion D2
Pit Infill MB-22-501   72.0 80.4 8.4 0.7 D2
Pit extension SW MB-22-505   33.3 36.3 3.0 7.9 D2
Pit extension SW MB-22-505 Including 33.3 34.3 1.0 22.8 D2
Pit extension SW MB-22-507   12.7 17.4 4.7 2.5 H6



Notes:
1) The meterage represents the length of the drilled lengths.
2) Estimated true widths for the Barry deposit interpreted zones are as follows: D series, AB series, H series 70% to 90% of core length, 800 series 50% to 70% of core length
3) The mineralized intervals listed are above 0.5 g/t Au and with metal factor (grades x thickness) above 5.

Quality Control and Reporting Protocols

The Barry project's drill core gold analyses are performed at the Company's Bachelor Mine analytical laboratory (the "Laboratory") and at AGAT Laboratories, located in Val-d'Or. The Company employs a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by fire assay (A.A.) with atomic absorption finish at the Laboratory and with gravimetric finish for assay above 10 g/t Au at AGAT laboratories. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor the Laboratory's performance. The Company's QA-QC program requires that at least 10% of samples be analyzed by an independent laboratory. These verification samples are sent to ALS Minerals laboratory facility located in Val-d'Or, Quebec. The verifications show a high degree of correlation with the Laboratory's results.

Qualified Persons

Boris Artinian, P.Geo., (OGQ # 1546) Chief Geologist of the Company oversees all exploration activities on the Barry property and has compiled and approved the information contained in this press release. Mr. Artinian is a qualified person as defined by National Instrument 43-101 ("NI-43-101").

About Bonterra Resources Inc.

Bonterra is a Canadian gold exploration company with a large portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company has four main assets, Gladiator, Barry, Moroy, and Bachelor that collectively have a total of 1.24 million ounces in Measured and Indicated categories, and 1.78 million ounces in Inferred category. Importantly, the Company owns the only permitted and operational gold mill in the region. Bonterra is focused on graduating from advanced exploration to a development company to deliver shareholder value.

FOR ADDITIONAL INFORMATION

Marc-Andre Pelletier, President & CEO
ir@btrgold.com

2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.com

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 and placing the Bachelor-Moroy deposit under long-term care and maintenance. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136153


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