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Bonterra Resources Inc (3)
Symbol BTR
Shares Issued 397,498,708
Close 2018-11-20 C$ 3.04
Market Cap C$ 1,208,396,072
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Bonterra Resources drills 3m of 7.7 g/t Au at Gladiator

2018-11-20 06:24 ET - News Release

Mr. Nav Dhaliwal reports

BONTERRA AND DUKE OPTION DRILLING EXTENDS GLADIATOR LENGTH TO 4.5 KM

Bonterra Resources Inc.'s Gladiator mineralized trend has been extended to over 4.5 kilometres as a result of new drill results as well as new information gained through the Duke joint venture database. Drilling by Bonterra and by the previous owner of the Duke ground (Beaufield Resources Inc., now Osisko Mining Inc.) has resulted in Gladiator deposit extensions in both the east and west directions.

Drill hole BRS-17-11 was completed in 2017 by Beaufield in proximity to the Beaufield/Bonterra claim boundary approximately two km northeast of the known Gladiator deposit extent. This drill hole crossed into Bonterra claims at approximately 300 metres in depth below surface and encountered a broadly altered and mineralized zone that was identical in characteristics to the Gladiator deposit including the presence of visible gold. The hole was logged and sampled by Beaufield; however, it was not reported to Bonterra and it is unclear whether assays were obtained at the time. Since the Duke option deal was ratified with Beaufield, Bonterra has been able to retrieve the core and resample it resulting in an intersection of 7.7 grams per tonne over 3.0 m. Additional holes obtained from the Duke database as well as new drilling completed by Bonterra have confirmed the extensions in both the east and west directions. Bonterra is now drilling follow-up holes in and near the Duke option southern boundaries as it is now earning in to 70 per cent of this ground from Osisko Mining (see news release dated May 23, 2018).

Highlights and observations:

  • BRS-17-10 and BRS-17-11 were historic and resampled intervals indicating potential extensions of the Gladiator deposit to the northeast of up to two km with 8.7 grams per tonne gold over 3.0 metres and 7.7 g/t Au over 3.0 m, extending the total Gladiator trend to 4.5 km.
  • CL-17-31 intersected 5.5 g/t Au over 3.0 m at Coliseum zone one km to the southwest of Gladiator deposit.
  • BA-18-109 intersected 5.6 g/t Au over 1.5 m at the new Titan zone confirming the mineralized structure northeast of the Gladiator deposit.

The Coliseum zone extension occurs one km southwest of the Gladiator deposit along strike with 5.5 g/t Au over three m in a mineralized shear zone. The Titan zone extension has been discovered two km northeast of the Gladiator deposit with results such as 7.5 g/ t Au over three m with visible gold hosted in a smoky quartz vein. The Titan zone is defined to date by five drill holes, four of them displaying visible gold. These two mineralized zones have structural and geological similarities to the Gladiator deposit and are on strike in both the east and west directions.

Historical drilling from previous operators were resampled based on current geological models and the results lead the team to the new discovery northeast of the Gladiator deposit.

Two rigs are currently in operation to expand the footprint of the known mineralization. The Titan zone and Coliseum zone remain open in all directions.


Hole                   From            To       Length*         Grade
                        (m)           (m)           (m)      (g/t Au)

BRS-17-06**            95.0          97.6           2.6           7.4
BRS-17-10**            18.5          21.5           3.0           8.7
BRS-17-11             439.7         442.7           3.0           7.7
BA-18-109             155.0         156.5           1.5           5.6
CL-17-31              257.0         260.0           3.0           5.5

* Stated lengths are core width as drilled, true widths vary 
and average between 60 and 80 per cent of drilled widths. Core 
axis angles of the intersection contacts and surrounding rock
units average 55 to 70 degrees.
** Drill hole previously released (see Beaufield news release 
dated Oct. 16, 2017).
  

Nav Dhaliwal, president and chief executive officer of Bonterra, stated: "Bonterra is consistently demonstrating the potential of gold discoveries on its land package in the Urban Barry camp. The full potential of the Gladiator deposit and area can now be fully realized utilizing the complete land package consisting of the Duke option together with the original Bonterra lands. The recent results show that Bonterra is not only controlling several known gold deposits but sits on a major gold-bearing structure that has not been fully exploited yet."

Quality assurance and quality control

Bonterra estimates that the true thickness of mineralized intervals is between 60 and 80 per cent of stated core lengths. No capping grade has been applied. NQ-sized drill core is saw cut with half of the interval sampled for analysis at ALS Laboratories in Val d'Or, Que., and the remaining half is stored at the Gladiator project site. Sample intervals are selected based on geological criteria including lithology, mineralization and alteration. Blanks and certified reference standards are inserted every 25 samples. The company employs a QA/QC program consistent with National Instrument 43-101 and industry best practices.

Pascal Hamelin, PEng, has approved the information contained in this release. Mr. Hamelin is the chief operating officer of Bonterra's wholly owned subsidiary, Metanor Resources Inc., and is a qualified person as defined by NI 43-101.

We seek Safe Harbor.

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