Bonterra Commences 2024 Drilling Campaign at its 100% Owned Desmaraisville South Project
Bonterra Commences 2024 Drilling Campaign
at its 100% Owned Desmaraisville South
Project
Val-d'Or, Quebec--(Newsfile Corp. - August 27, 2024) -
Bonterra Resources Inc. (TSXV: BTR)
(OTCQX: BONXF) (FSE: 9BR2) (
"
Bonterra
" or the "
Company
"
)
announces the start of a diamond
drilling program at its 100% owned Desmaraisville South project. Several prospective geological,
geophysical and drill targets have been identified throughout the year and have been prioritized following
last summer's field work carried out by Bonterra's geology team (see Figure 1 for the location of the drill
targets). A drill rig has been mobilized to site and the Company plans to drill from 4,000 to 6,000 meters
("
m
") before the end of the year. Please refer to the press releases dated May 16, 2024, February 27,
2024, February 5, 2024, December 14, 2023, and December 4, 2023, for exploration updates on the
Desmaraisville North and South projects and the surrounding area.
Marc-André Pelletier, President and CEO commented: "The commencement of exploration at our 100%
owned Desmaraisville South project follows the diligent efforts of our geologists to design an optimal
drilling program targeting several promising areas. Our primary goal for this campaign is to discover
new mineralized lenses within 15 kilometers of the Bachelor Mill Complex. Concurrently, the Company is
considering an update to the 2021 mineral resource estimate (the "
2021 MRE
") for the Barry and
Gladiator deposits (see press release dated June 23, 2021). Since the 2021 MRE, Bonterra has
completed over 100,000 m of diamond drilling in and around the Barry and Gladiator deposits. This
exploration comes amid a favorable increase in the price of gold, which was assumed at US$1,600 per
ounce in the 2021 MRE.
At our Phoenix JV, the compilation work continues following the 60,000 m drill campaign that was
completed in July. Drilling activities are expected to continue later this year with Gold Fields as the
operator of the Phoenix JV."
Figure 1: Desmaraisville South Project, Prospective Drill Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/221136_621b46b5f4812a08_001full.jpg
Qualified Person
M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, oversees all exploration
activities on the Desmaraisville Property and has compiled and approved the 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 Resources Inc.
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 a joint venture agreement with Osisko
Mining Inc. for the Urban-Barry properties, which include the Gladiator and Barry deposits. In August
2024, Gold Fields Limited announced the acquisition of Osisko Mining for C$2.16 billion.
Over the next
three years, Osisko Mining (now Gold Fields) can earn a 70% interest by incurring $30 million in work
expenditures. This strategic transaction highlights Bonterra's commitment to advancing its exploration
assets in a fast growing and consolidating gold camp.
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 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 the earn in a joint venture agreement with Osisko Mining
announced on November 28, 2023, and the acquisition of Osisko Mining by Gold Fields announced on
August 12, 2024. 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 spacing 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.
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