Bonterra identifies new "Barbeau Gold Zone" at the Gladiator Gold Deposit with intersection of 22.2 g/t Au over 1.9 m
Thursday, Nov 16, 2017
Bonterra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or "Bonterra") is pleased to announce the identification of a fifth new parallel gold zone at the Gladiator Gold Deposit. This new "Barbeau Zone", intersected by six drill holes up to 800 m below surface, was identified south of the "South Zone". The Company is aggressively completing its 2017 Resource Development Program, with four diamond drill rigs completing a 50,000 m program. In addition, multiple holes are in the lab with assays pending, and Bonterra expects to expand to six drill rigs during the upcoming 2018 winter season.

Highlights and Observations:

  • Two recent drill holes (BA-17-24 and BA-17-40A) at the Gladiator Gold Deposit that indicate the potential of a new parallel gold zone south of the "South Zone."
  • BA-17-40A intersected 22.2 g/t Au over 1.9 m up to 800 m below surface.
  • The Barbeau Zone has been intersected by at least six holes to date including BA-16-05 with 28.5 g/t Au over 3.3 m and BA-16-07 with 20.7 g/t Au over 3.0 m.
  • Multiple parallel gold zones have now been identified at the Gladiator Gold Deposit and show a strong continuity at depth.
  • To date, continuity of mineralization is now confirmed over a total drilled strike length on at least two horizons (Main and Footwall) of 1,200 m, as well as a drilled depth of 1,200 m.
Dale Ginn, VP Exploration, stated, "Our resource development program is focused on expanding the Gladiator Gold Deposit.  The identification of Barbeau as a potential fifth parallel gold zone is exciting and indicates the strength of the Gladiator gold system. Further exploration of the new Barbeau Zone will be included in the winter drilling campaign, where we expect to have six drill rigs operating on the property. As we progress through the drill program, we continue to gain an excellent understanding of the significant gold system at Gladiator, which is leading to the accelerated development of our geological model. We look forward to 2018 with the completion of an updated resource estimate."

Bonterra Resources Quick Facts:

  • Well financed with $40 million raised in 2017.
  • Strong Shareholder Base: Eric Sprott (10%), Van Eck Gold Fund (12%), Kirkland Lake Gold (9.5%), Kinross (7.5%).
  • Gladiator Gold Deposit:
    • Deposit extension and resource expansion underway utilizing minimum of four drill rigs with 50,000 m to be completed in 2017; up to six (6) rigs in 2018.
    • Advancing to the completion of an updated NI 43-101 Mineral Resource in 2018, which is anticipated to include up to an additional 100,000 m of drilling from 2015 through 2018.
    • Drilled dimensions of the Gladiator Deposit are currently outlined to a depth of 1,200 m below surface, and a strike length of 1,200 m;
    • Gladiator remains open in all directions, where at least five distinct sub parallel zones or mineralized horizons have been identified.
    • Drilling currently focused the continued expansion of Gladiator Gold Deposit, and drill testing of the Coliseum Gold Zone to the southwest.
  • 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.
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