04:09:00 EDT Fri 29 Mar 2024
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Bonterra Resources Inc (3)
Symbol BTR
Shares Issued 75,206,456
Close 2020-02-26 C$ 1.58
Market Cap C$ 118,826,200
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Bonterra Resources drills 3.39 m of 15.27 g/t Au

2020-02-27 12:13 ET - News Release

Mr. Greg Gibson reports

BONTERRA INTERSECTS 15.27 G/T AU OVER 3.39 M AND EXTENDS MINERALIZATION AT MOROY

Recently completed drilling by Bonterra Resources Inc. has extended the M1 zone in the Moroy deposit.

Assays have been received for drill holes recently completed on the M1 zone in the Moroy deposit. The focus of the drilling has been the extension of the M1 zone mineralization up-plunge using a drill from surface and downplunge utilizing an underground rig. Highlights include an intersection of 15.27 grams per tonne (g/t) Au over 3.39 metres (m) in an up-plunge position and 8.14 g/t Au over an intersection length of 3.61 m extending mineralization downplunge. The new drill intercepts indicate a significant extension of the M1 zone and, combined with reinterpretation of the existing drilling, supports a zone of demonstrated continuity beyond the limits used for the current resource estimate. Significant intercepts from the recently completed holes within the M1 zone are contained in the attached table.

The company is currently completing a bulk sample on the 11th level in the M1 zone. In addition, the company is completing selected infill drilling to support future resource to reserve conversion and mine planning.

Greg Gibson, chief executive officer of Bonterra, stated: "We are continuing to advance Moroy towards inclusion in a mine plan, and we continue to execute our strategy of advancing resources in other targets at Moroy and our other assets, Barry and Gladiator, to support a long-term mine life."

Analyses and QA/QC (quality assurance/quality control)

Gold analyses of Moroy drill core are completed at the Bachelor mine assay laboratory. The company employs an industry standard QA/QC program that includes duplicate analyses from pulp and coarse rejects and the use of certified reference materials (CRM) and blanks. Check assays on a minimum of 10 per cent of the samples are completed at ALS Laboratories in Val d'Or.

Qualified person

Jamie Lavigne, PGeo, vice-president of exploration for the company, has approved the information contained in this news release. Mr. Lavigne is a qualified person as defined by National Instrument 43-101.

Hole ID    From (m)  To (m) Length (m)  True thickness (m)     Au (g/t)   Zone        Drill   

MY19-162    115.31  117.62       2.30                1.93         3.83    M1-2  Underground
including   115.31  116.40       1.08                0.91         7.59    M1-2  Underground
MY19-164    212.09  217.85       5.76                3.15         3.59    M1-1  Underground
including   213.31  217.85       4.54                2.49         4.32    M1-1  Underground
MY19-172    127.94  135.87       7.92                6.62         2.36    M1-2  Underground
including   130.20  131.98       1.78                1.48         7.63    M1-2  Underground
MY19-182    185.20  198.74      13.55               10.54         1.51    M1-1  Underground
including   195.26  197.01       1.75                1.38         5.12    M1-1  Underground
MY19-183    246.34  252.76       6.41                3.43         4.80    M1-1  Underground
including   248.15  251.76       3.61                1.92         8.14    M1-1  Underground
MY19-186    285.82  294.05       8.23                3.56         4.35    M1-1  Underground
including   290.64  294.05       3.41                1.46         7.00    M1-1  Underground
MY19-187    291.13  300.24       9.12                3.56         1.80    M1-1  Underground
including   293.38  295.46       2.07                0.81         5.19    M1-1  Underground
MY19-188    217.44  223.63       6.19                3.29         4.56    M1-1  Underground
including   218.54  222.16       3.63                1.93         6.15    M1-1  Underground
MO-19-230   313.87  325.33      11.46                9.69         6.02    M1-3      Surface    
including   315.09  324.53       9.44                7.98         7.09    M1-3      Surface    
including   316.87  320.26       3.39                2.87        15.27    M1-3      Surface    
MO-19-232   207.01  211.58       4.57                3.95         2.39    M1-3      Surface    
including   207.01  209.22       2.21                1.91         4.78    M1-3      Surface    
including   207.01  208.61       1.60                1.38         6.09    M1-3      Surface    
MO-19-241   399.19  405.95       6.76                6.23         4.91    M1-1      Surface    
including   400.44  403.10       2.66                2.46        11.21    M1-1      Surface
MO-19-247   371.13  377.56       6.42                6.24         3.36    M1-3      Surface
including   374.55  376.79       2.24                2.18         7.63    M1-3      Surface

True thickness is estimated for each intercept.

We seek Safe Harbor.

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