VANCOUVER, Sept. 19, 2018 /CNW/ - Bonterra Resources Inc.
(TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the "Company" or "Bonterra") is pleased to announce the discovery of a new high grade
gold zone near surface to the north of the Gladiator Gold Deposit with an intersection of 27.4 g/t Au over 7.0 m. This new high-grade mineralization is located approximately 200 m
north of the most northerly Gladiator zone (North Zone) and was located by drill hole BA-18-60 above 100
m in depth. The mineralization and characteristics of this zone are very similar to the Gladiator Deposit and are
similar to the Company's current geological model. The model consists of parallel veins or zones and is open along strike and at
depth. The recently optioned "Duke" property boundary areas have allowed the Company access for exploration into these
areas of interest. This high-grade intersection occurs on Bonterra's 100% owned Gladiator property. Follow up drilling is
underway in order to test down dip and strike continuity.
"Our geological model continues to produce results with this new high-grade zone that appears to project nicely from our
established pattern of veining within the multi-zone Gladiator Deposit. Our recent option to earn interest in the Duke
claims has allowed us to now step out northeast and southwest with drilling in order to locate new parallel zones. We are
extremely encouraged with our first results in stepping away from the Gladiator to the northeast and look forward to extending
the new zone further," commented Nav Dhaliwal, President and CEO.
Highlights and Observations:
- BA-18-60 intersected a new high-grade zone located 200 m north of the North Zone with
27.4 g/t Au over 7.0 m. The intersection occurred between 96.0
m and 103.0 m down hole and contained numerous fine specks of visible gold within smoky
quartz veining with pyrite and minor sphalerite mineralization, typical of the Gladiator Deposit. Follow-up holes are
ongoing in order to validate continuity.
- BA-18-60 intersected the Main Zone at 600 m below surface with 14.8 g/t Au over
7.0 m. This intersection adds to continuity of high-grade mineralization at depth with
shallow intersections along an easterly plunge.
The ongoing resource development program continues to expand and define the Gladiator Gold Deposit ahead of the updated
mineral resource estimate scheduled for Q4 2018. Drilling to be included in the upcoming mineral resource estimate has now been
completed. Drilling continues with three drills at the deposit focused on extension drilling along strike to the northeast and
southwest.
Hole
|
From
(m)
|
To
(m)
|
Length*
(m)
|
Grade
(g/t Au)
|
Zone/Area
|
BA-18-60
|
96.0
|
103.0
|
7.0
|
27.4
|
New
|
BA-18-60
|
777.2
|
784.2
|
7.0
|
14.8
|
Main
|
BA-18-60
|
851.0
|
852.0
|
1.0
|
7.1
|
Other
|
BA-18-60
|
904.2
|
905.9
|
1.7
|
7.0
|
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://bonterraresources.com/projects/gladiator-project/maps-sections/ for updated maps including long sections
and cross sections.
Bonterra Resources Quick Facts:
- Well financed with approximately $65 million raised since 2017.
- Strong shareholder base including: Eric Sprott, Van Eck,
Kirkland Lake Gold.
- 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 the Q4 2018.
- Drilled dimensions of the Gladiator Gold Deposit are currently outlined to a depth of over 1,000
m below surface and a strike length of 1,300 m.
- Gladiator remains open in all directions, where at least six distinct sub-parallel zones or mineralized horizons have
been identified.
- 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:
-
- 100% controlled 2,221-hectare 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.
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 labor 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.
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SOURCE Bonterra Resources Inc.
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