Bonterra Highlights Initial Drill Results from Gladiator SW Target; Announces 2025 Exploration Program at Phoenix JV with Gold Fields
Bonterra Highlights Initial Drill Results from
Gladiator SW Target; Announces 2025
Exploration Program at Phoenix JV with Gold
Fields
Val-d'Or, Quebec--(Newsfile Corp. - March 19, 2025) -
Bonterra Resources Inc. (TSXV: BTR)
(OTCQX: BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") is pleased to report the first assay
results from the Gladiator Southwest ("
Gladiator SW
") target and announce details of the 2025
exploration program 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 (previously, Osisko Mining Inc.). 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: "Gold Fields has achieved significant progress
in exploration near their high-grade Windfall project, identifying multiple promising targets for further
drilling. With over half of the planned joint venture expenditures already completed in the first year, we
look forward to continued collaboration to advance Quebec's newest emerging gold camp."
First Assay Results from the Gladiator SW Target
To date, over 65,000 meters ("
m
") have been drilled, with approximately C$18 million invested in the
Project under the JV Agreement. This includes 5,700 m (13 drill holes) completed at the Gladiator SW
Target along the Barry Shear Zone by the end of 2024 (see Figure 1 – Plan View of Gladiator SW
Target). Additionally, a detailed review of core samples from both the Barry and Gladiator deposits was
conducted to improve geological understanding. These deposits contain a combined 1.08 million
ounces of Measured and Indicated Mineral resources and 1.68 million ounces of Inferred Mineral
resources, as reported in the 2021 mineral resource estimate ("
2021 MRE
").
Highlight at the Gladiator SW Target:
20.3 g/t Au over 1.5m, in hole PHX-24-0119
2025 Phoenix JV Exploration Program Updates by Gold Fields
Gold Fields is currently preparing a potential 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 2 – Plan View of
Target Areas on the Phoenix JV).
Gold Fields intends to deploy three to four drill rigs, primarily focused along the Barry Shear Zone at the
Gladiator NE and Titan targets. The program will also explore additional areas such as Duke NE,
Chanceux, the Tourmaline Ridge extension, and Rouleau Till. Diamond drilling is expected to commence
later this year upon approval. Additionally, a gravity airborne survey and associated fieldwork are being
planned for the upcoming summer.
Figure 1- Phoenix JV Project – Surface Plan View with Completed Drill holes at Gladiator SW
Target
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Figure 2- Phoenix JV Project – Surface Plan View with Completed Drill holes and 2025 Drill
Target Areas
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Table 1: Drill Hole Locations – Phoenix JV, Gladiator SW Target
Hole ID
Easting
Northing
Elevation (m)
Azimuth
(°)
Dip
(°)
Length (m)
PHX-24-0119
454635
5427686
404
152
-48.7
552
UTM Coordinates, System: NAD83 Zone 18N
Table 2: Significant Mineralized Intersections from Drilling on the Gladiator SW Target
Hole ID
Including
From (m)
To (m)
Length (m)
Grade (Au g/t)
Metal Factor
(length x grade)
PHX-24-0119
82.1
83.6
1.5
20.3
30.45
1)
True width determination is currently unknown but is estimated from 55 to 80% of the reported core length interval for the zone.
2)
Assays are uncut except where indicated.
3)
Intercepts have not been correlated to individual zones or vein domains at this time.
Quality Control and Reporting Protocols (adopted by Gold Fields)
NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-
assaying-AA finish or gravimetric finish at ALS Laboratories in Val-d'Or, Québec, or Vancouver, British
Colombia. The 1-kilogram screen assay method is selected by the geologist when samples contain
coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also
analyzed for multi-elements, including silver, using Four Acid Digestion-ICP-MS method at ALS
Laboratories. Drill program design, Quality Assurance/Quality Control ("
QA/QC
") and interpretation of
results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and
industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes
by Gold Fields as well as the lab.
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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