Bonterra Intersects 8.2 g/t Au over 8.2 m, Including 16.6 g/t Au over 3.4 m and 54.5 g/t Au over 0.5 m at the Barry Underground Project and Provides Operational and Exploration Updates
Bonterra Intersects 8.2 g/t Au over 8.2 m,
Including 16.6 g/t Au over 3.4 m and 54.5 g/t Au
over 0.5 m at the Barry Underground Project
and Provides Operational and Exploration
Updates
Val-d'Or, Quebec--(Newsfile Corp. - May 30, 2023) -
Bonterra Resources Inc. (TSXV: BTR)
(OTCQX: BONXF) (FSE: 9BR2)
("
Bonterra
" or the "
Company
") is pleased to announce more results
from the now completed infill and expansion drilling campaign at the Barry underground project, which
holds 0.5 million ounces of Measured and Indicated Mineral resources and 0.7 million ounces of Inferred
Mineral resources according to the last mineral resources estimate (the "
2021 MRE
", see press release
dated June 23, 2021). The primary goal of this campaign was to convert mineral resources to a higher
confidence category and enhance the interpretation and grade continuity of the mineralization, primarily
in the upper section of the deposit. In total, 31,349 metres ("
m
") (91 holes) of infill drilling has been
completed from surface since August 2022. The Company has received assays for 89 holes so far,
including the holes disclosed in this release (see press releases dated November 15, 2022, December
12, 2022, March 27, 2023, and May 1, 2023, for previously released holes). To date, 1,619 samples are
pending results.
Highlights include:
8.2 g/t Au over 8.2 m, including 16.6 g/t Au over 3.4 m and 54.5 g/t Au over 0.5 m in hole MB-23-
593A
5.0 g/t Au over 7.2 m, including 23.0 g/t Au over 0.7 m and 16.2 g/t Au over 0.6 m in hole MB-23-
599
7.2 g/t Au over 3.7 m, including 30.0 g/t Au over 0.5 m in hole MB-23-601A
6.4 g/t Au over 2.9 m, including 16.9 g/t Au over 1.0 m in hole MB-23-611
Operational Updates
In addition to the cost saving initiatives announced in November 2022 and March 2023 (see press
releases dated November 23, 2022, and March 6, 2023), the Company implemented a new working
schedule at the Barry site in April 2023 and expects to reduce fixed camp costs by 50% or
approximately $0.5 million ("
M
") in 2023. Also, the Company received proceeds of $0.4 M in Q1 2023
from the rental of the Bachelor camp during the construction of the proposed Kuikuhaacheu hydroelectric
power transmission line from the Waswanipi substation to the Windfall gold project, which is
approximately 15 kilometers ("
km
") from Bonterra's Barry and Gladiator deposits. More revenue is
expected for the rest of the year. Finally, the Company is currently undertaking the cleaning of the
Bachelor Mill to recover the gold trapped in the circuit from past production activity. This work is
expected to take place in the ensuing months and the revenue generated is expected to support the
Company's exploration activities.
Marc André Pelletier, President and CEO commented: "Several revenue-generating and cost-cutting
initiatives are currently underway to bolster our operations and facilitate our renewed focus on
exploration in the Urban-Barry camp. We share the same belief as our neighbors, Gold Fields and
Osisko Mining, in the untapped potential for new discoveries within the Urban-Barry camp. The findings
announced today provide further confirmation of the Barry deposit's depth potential, with the 800 Zone
remaining open down plunge to the East. We are pleased with the progress of our ongoing drill
campaigns at Panache South and Barry North-East, following our updated work schedule, and we thank
our employees for their flexibility."
Exploration Updates
The Company has allocated one drill rig to its Barry North-East regional exploration program, which
consists of eleven drill holes covering 3,200 m (See Figure 3). This program targets induced polarization
anomalies along the Mazeres fault corridor, located three km to the northeast of the Barry deposit. So
far, four drill holes covering 1,654 m have been completed.
The Company also commenced a 3,500 m exploration and follow-up drill program at the Panache South
target area. The program is currently testing targets North of historical showing of 12.9 g/t Au over 0.5 m
and 3.2 g/t Au over 0.4 m as well as showings from the 2021 drill campaign where significant gold
mineralization was intersected such as 5.5 g/t Au over 1.5 m, including 16.2 g/t Au over 0.5 m, 23.1 g/t
Au over 2.3 m, including 62.3 g/t Au over 0.8 m, and 30.6 g/t Au over
1.5 m, including 91.4 g/t Au over 0.5 m from shear-hosted quartz carbonate vein systems (Panache
South drill hole references in this paragraph are from the Company's press release dated March 1,
2022). So far, two drill holes totalling 909 m have been completed.
Diamond Drilling Results Highlights:
Figure 1 – Barry Project – Surface plan, holes, and location of highlights
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/167892_478314b22458d8f0_001full.jpg
The infill drill program at the Barry underground project was designed to convert the Inferred resources
from the 2021 MRE into Indicated resources by decreasing the drill spacing to 25 m and to expand the
mineralization in the sub-vertical 800 Zone at depth. The results presented in this release keep on
defining the high grade ore shoots between 100 and 200 m below the surface and better delineate the
mineralization in the lesser drilled portion of the 800 Zone around 250 m below the surface.
Figure 2 – Barry Project – Long Section, 800 Zone Looking northwest
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/167892_478314b22458d8f0_002full.jpg
The latest infill drilling results from the 800 Zone demonstrate the continuity of the mineralization. Hole
MB-23-593A returned results of 8.2 g/t Au over 8.2 m including 54.5 g/t Au over 0.5 m, hole MB 23-599
returned 5.0 g/t Au over 7.2 m including 16.2 g/t Au over 0.6 m, as well as hole MB 23-601A returned 7.2
g/t Au over 3.7m including 30 g/t Au over 0.5m and finally the MB 23-611 returned 6.4 g/t Au over 2.9 m
including 16.2 g/t Au over 2.0 m. All the results confirm the plunge of the gold trend, its extension at depth
and the potential to increase the mineral resources for the 800 Zone.
Figure 3 – Urban-Barry Project – Regional exploration targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/167892_478314b22458d8f0_003full.jpg
The Barry North-East and the Panache South properties are located on the west portion of the Urban-
Barry camp, in the Macho mafic volcanic formation, where the Barry deposit and Moss showings occur
along the Mazeres fault system striking N60 toward the Osisko Mining's Windfall deposit. The Panache
showing located in the northeast portion of the area occurs along the Milner fault which also hosts the
Fox and Fox West Zones owned by Osisko Mining.
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 from 50 to 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 sulphides within shear zones and veins with local
visible gold. The Barry deposit has been delineated over 1.4 km along strike and 700 m below surface
and remains open for expansion.
Table of diamond drill hole results:
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)
Grades
(g/t
Au)
Metal Factor
(Length X
Grades)
Zones
Underground Infill
MB-23-593A
144.5
188.7
44.2
0.4
19.7
D1 Intrusive
Underground Infill
MB-23-593A
191.0
199.2
8.2
8.2
67.6
800
Underground Infill
MB-23-593A
Including
195.1
198.5
3.4
16.6
56.5
800
Underground Infill
MB-23-593A
And Including
197.0
197.5
0.5
54.5
27.3
800
Underground Infill
MB-23-595
145.3
151.9
6.6
1.6
10.7
800
Underground Infill
MB-23-595
Including
147.2
147.7
0.5
7.4
3.7
800
Underground Infill
MB-23-597
282.4
285.8
3.4
1.9
6.5
800
Underground Infill
MB-23-599
285.6
292.8
7.2
5.0
35.6
800
Underground Infill
MB-23-599
Including
285.6
286.3
0.7
23.0
16.1
800
Underground Infill
MB-23-599
And Including
288.0
288.6
0.6
16.2
9.7
800
Underground Infill
MB-23-601A
238.0
240.2
2.2
3.3
7.2
Underground Infill
MB-23-601A
255.8
259.5
3.7
7.2
26.7
D1 intrusive
Underground Infill
MB-23-601A
Including
257.5
258.0
0.5
30.0
15.0
D1 intrusive
Underground Infill
MB-23-601A
303.0
307.7
4.7
2.4
11.4
800
Underground Infill
MB-23-602
185.6
187.5
1.9
11.4
21.7
New H
Underground Infill
MB-23-602
Including
185.6
186.3
0.7
24.4
17.1
New H
Underground Infill
MB-23-602
227.0
235.0
8.0
1.1
9.1
800
Underground Infill
MB-23-602
Including
232.0
232.5
0.5
6.4
3.2
800
Underground Infill
MB-23-603
354.3
357.5
3.2
3.1
10.1
800
Underground Infill
MB-23-603
Including
355.4
356.1
0.7
11.4
8.0
800
Underground Infill
MB-23-604
76.9
81.3
4.4
1.4
6.3
Underground Infill
MB-23-604
257.4
312.5
55.1
0.2
9.3
D1 Intrusive
Underground Infill
MB-23-605
319.5
327.0
7.5
2.0
15.2
800
Underground Infill
MB-23-605
Including
322.0
324.6
2.6
5.1
13.2
800
Underground Infill
MB-23-611
122.1
125.0
2.9
6.4
18.5
800
Underground Infill
MB-23-611
Including
122.1
123.1
1.0
16.9
16.9
800
Notes:
1)
The meterage represents the actual length of the drilled lengths.
2)
Estimated true widths for the Barry 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.
4)
Gold grades are uncut.
Quality Control and Reporting Protocols
The Barry project's drill core gold analyses are performed at Actlabs located in Ste-Germaine-Boulé,
Quebec. The external laboratories employ a rigorous QA-QC analysis program that meets industry
standards.
The analyses are carried out by fire assay (A.A.) with atomic absorption finish and with
gravimetric finish for assay above 10 g/t Au at Actlabs and 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 5% 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 Person
Donald Trudel, P.Geo., (OGQ # 813) Director of Geology of the Company oversees all exploration
activities on the Urban- Barry 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 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-André Pelletier, President & CEO
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-279-9304 | 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 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/167892