Bonterra Provides Exploration Updates at Phoenix JV with Gold Fields
Bonterra Provides Exploration Updates at
Phoenix JV with Gold Fields
Val-d'Or, Quebec--(Newsfile Corp. - July 2, 2025) -
Bonterra Resources Inc. (TSXV: BTR) (OTCQX:
BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") is pleased to provide exploration updates
being led by a 100% indirect subsidiary of Gold Fields Ltd ("
Gold Fields
" or the "
Operator
") at the
Phoenix JV (the "
Project
"). The Project is under a definitive earn-in and joint venture agreement (the "
JV
Agreement
") with Gold Fields. Under the JV Agreement, Gold Fields has the right to acquire a 70%
interest in the Project by spending C$30 million in work expenditures, with a minimum spending
commitment of C$10 million per year over a three-year period (see press release dated November 28,
2023, for more details).
Marc-André Pelletier, President and CEO commented: "Progress at the Phoenix JV is well underway,
with geophysical surveys, mapping, and soil sampling currently in progress. These initiatives, combined
with a 15,000-meter drill program scheduled to begin in August, offer promising potential for new
discoveries at the Phoenix JV, particularly at the Gladiator NE-Titan targets where near surface
economic values have been intercepted before. We look forward to continuing our collaboration with
Gold Fields as we work to advance Quebec's newest emerging gold camp."
2025 Exploration Program updates
To date, over 65,000 meters ("
m
") have been drilled, with approximately C$20 million invested in the
Project under the JV Agreement. The current work includes two gravity surveys, one airborne and one
ground base, as well as field activities such as soil sampling, prospecting and mapping of outcrops and
review of historical trenches.
Gold Fields is currently preparing a 15,000 m drill program, with final target selection subject to internal
review and prioritization. Several promising targets have already been identified, based on historical
gold showings, previous drill results, and geophysical survey data (see Figure 1).
Gold Fields intends to deploy three drill rigs, primarily focused along the Barry Shear Zone at the
Gladiator NE and Titan targets. The program will also explore additional areas including Duke NE,
Chanceux, the Tourmaline Ridge Extension, Rouleau Till, and Cominco. Some of these targets exhibit
multiple mineralized indicators, several of which show economically significant values. Additionally, field
work combined with a gravity airborne survey is ongoing. The 2025 exploration program will generate
new targets once the results are analyzed later this year.
Figure 1 - Phoenix JV Project - Surface Plan View with Completed Drill holes, Historical Drill
Hole Assay Results and 2025 Drill Target Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/256783_c680c807c4549a0b_001full.jpg
Gladiator NE and Titan targets
The Gladiator NE sector, including the Titan target, is crossed by the Barry Deformation Zone, hosts to
the Gladiator deposit which contains 0.39 million ounces of Measured and Indicated Mineral resources
and 0.99 million ounces of Inferred Mineral resources, as reported in the 2021 mineral resource estimate
("
2021 MRE
"). Titan's previous drill hole BA-18-116 returned an intersection of 12.4 g/t Au over 5.3 m
and drill hole BRS 17-11 returned 7.7 g/t over 3.0 m, including 23.2 g/t over 1.0m (see Bonterra's press
release dated November 20, 2018, and January 21, 2019), confirming the discovery potential along the
Barry fault (see Figure 2). The geological setting is similar to that of Gladiator deposit, with gabbroic sills
and felsic intrusions associated with gold mineralization.
Figure 2 - Phoenix JV Project - Longitudinal View of Gladiator deposit and Titan target area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/256783_bonterra_figure2.png
Qualified Person
M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, has reviewed and approved
the technical information contained in this press release. Mr. Trudel is a qualified person as defined by
National Instrument 43-101 on standards of disclosure for mineral projects.
ABOUT BONTERRA
Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets
anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator,
Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and
Indicated categories and 1.78 million ounces in the Inferred category.
In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining
Inc. for the Urban-Barry properties (the "
JV Agreement
"), which include the Gladiator and Barry
deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the
acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement
and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work
expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October
2024). This strategic transaction highlights Bonterra's dedication to advancing its exploration assets,
marking a significant step towards development.
FOR ADDITIONAL INFORMATION
Marc-André Pelletier, President & CEO
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.
Caution regarding forward-looking statements
This news release contains forward-looking statements and forward-looking information within the
meaning of applicable securities laws. All statements other than statements of historical fact may be
forward-looking statements or information. Forward-looking statements are frequently identified by such
words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to
future events and results. The forward-looking statements and information are based on certain key
expectations and assumptions made by management of the Company. Although management of the
Company believes that the expectations and assumptions on which such forward-looking statements
and information are based are reasonable, undue reliance should not be placed on the forward-looking
statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about
the current expectations and plans of management of the Company relating to the future. Readers are
cautioned that reliance on such statements and information may not be appropriate for other purposes,
such as making investment decisions. Actual results could differ materially from those currently
anticipated due to a number of factors and risks, including the ability and timing of the parties to
complete the Joint Venture (if at all), whether the work expenditures would be incurred as contemplated
in the Agreement (or at all), the speculative nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of financing, as described in more detail in the
Company's recent securities filings available at
www.sedarplus.ca
. Accordingly, readers should not
place undue reliance on the forward-looking statements and information contained in this news release.
Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements
and information contained in this news release are made as of the date hereof and no undertaking is
given to update publicly or revise any forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by applicable securities laws. The
forward-looking statements or information contained in this news release are expressly qualified by this
cautionary statement.
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