Val-d'Or, Quebec--(Newsfile Corp. - September 7, 2022) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to announce results from the drilling campaign at the Barry open pit project. The Company just completed a 25,000 metres ("m") definition drill campaign surrounding the near surface mineralization at the Barry gold deposit to further define extensions of the mineral resources. Today's results obtained from 54 drill holes are expected to be included in a new mineral resource estimate ("MRE") in preparation of the pre-feasibility study ("PFS") expected to be completed later this year. The Company has selected a group of experienced consultants, including BBA (BBA.ca) as lead consultant, and the PFS is now underway.
Bonterra is also pleased to announce that is has commenced 125,000 m of infill drilling on the underground portion of the Barry deposit, which contains 0.5 million ounces of Measured and Indicated Mineral resources and 0.7 million ounces of Inferred Mineral resources, as stated in the 2021 MRE ("2021 MRE"). The Company continues to execute on its strategy of moving toward the production re-start of the open pit at Barry while developing the higher-grade underground mineralization in parallel.
The Company is currently drilling at a rate of approximately 6,000 m per month, focused on infill drilling the underground portion of the Barry deposit highlighted within the 2021 MRE.
Highlights include:
1.8 g/t Au over 23.2 m, including 3.0 g/t Au over 4.0 m and 11.4 g/t Au over 1.5 m in hole MB-22-434
2.5 g/t Au over 10.5, m including 7.3 g/t Au over 1.6 m in hole MB-22-452
1.0 g/t Au over 37.0, m including 3.2 g/t Au over 8.6 m in hole MB-22-470
1.8 g/t Au over 15.5, m including 11.2 g/t Au over 1.0 m in hole MB-22-458
6.3 g/t Au over 4.1, m including 27.2 g/t Au over 0.7 m in hole MB-22-495
5.9 g/t Au over 6.6, m including 20.1 g/t Au over 1.2 m in hole MB-22-460
Operational Updates
The Company also announces that is has elected to put the underground infrastructure at the Bachelor-Moroy deposit under long-term care and maintenance and expects to complete this process early in the fourth quarter. This decision was made after a detailed analysis of the economic potential of the Moroy deposit, considering the costs involved in maintaining the underground infrastructure de-watered and in good standing. It is important to note, that the status of the assay lab, camp, mill, and the tailings management area (the "Bachelor Mill Complex") remains unchanged, and that these assets are key components of the planned re-start of production at the Barry open pit project.
At the Bachelor Mill Complex, the permitting process for the mill and tailings management area expansion is still ongoing at the COMEX. Considering the abovementioned changes at the Bachelor-Moroy deposit, a scope change will be submitted shortly to the COMEX for their review.
At the Gladiator deposit, the Company has undertaken an exploration drill campaign on barges that was completed as scheduled at the end of July. The geological team at Bonterra will continue working on the mineral resources model and geological interpretation of the deposit as drill results from the campaign become available. The team is also planning a more focused drill program for next year.
Marc André Pelletier, President and CEO commented: "These recent drill results confirm the grade continuity of the near surface mineralization at the Barry deposit and will be used to further refine our geological model as part of the PFS that is expected to be completed by year end. The PFS is an important milestone in our renewed strategy of advancing the Company toward production, starting with the Barry open pit.
Bonterra expects that the decision to place the underground infrastructure at the Bachelor-Moroy deposit on long-term care and maintenance will reduce the annual maintenance costs by at least $3 million/year and will allow the Company to reallocate these financial resources toward advancing the development of the Barry deposit."
Figure 1 - Barry Project - Drill Hole Location Map, Plan View.
The infill drilling program was designed to fill gaps in the drill spacing inside and immediately around the pit shell from the 2021 MRE. The results confirmed the shape of the mineralization and the grades predicted by the bloc model from the 2021 MRE. Hole MB-22-434 returned 1.8 g/t Au over 23.2 m in zone D4 in the south-west pit (fig. 2), hole MB-22-470 returned 1.0 g/t Au over 37.0 m, including 3.2 g/t Au over 8.6 m from zone AB07 in the main pit (fig. 3) and hole MB-22-452 returned 2.5 g/t Au over 10.5 m just 10 m under the main pit in zone AB07 (fig. 4).
The expansion drilling program was aimed to better define the mineral resources surrounding the 2021 MRE. Hole MB-22-458 returned 1.8 g/t Au over 15.5 m and Hole MB-22-460 returned 5.9 g/t Au over 6.6 m in zone H6, 35 m below the surface and 45 m to the west of the southwest pit (fig. 5).
Figure 5 - Barry Project - Cross Section 25 m, southwest pit extension, (Hole BA-22-458, MB-22-460), Looking southwest.
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 at 50-65 degrees along the lower and upper contacts of the D1, D2 and D3 felsic intrusions with mafic volcanics. Gold mineralization is associated with disseminated sulfides within shear zones and veins with local visible gold. The Barry deposit has been delineated over 1.4 kilometres along strike and 700 m vertical and remains open for expansion.
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)
Grade (g/t Au)
Zones
Pit extension NE
MB-21-415
104.2
122.5
18.3
0.5
Intrusion D3
Pit extension NE
MB-22-424
15.9
18.7
2.8
2.3
AB08
Pit extension NE
MB-22-424
23.0
50.5
27.5
0.6
Intrusion D3
Pit Infill
MB-22-430
44.8
61.2
16.4
1.8
802
Pit Infill
MB-22-430
Including
44.8
50.4
5.6
3.8
802
Pit Infill
MB-22-430
84.0
84.6
0.6
9.0
New H
Pit Infill
MB-22-430
103.6
107.7
4.1
2.0
800
Pit Infill
MB-22-430
Including
105.2
106.5
1.3
5.2
800
Pit Infill
MB-22-430
172.1
173.8
1.7
4.1
New H
Pit Infill
MB-22-430
Including
172.1
172.6
0.5
11.8
New H
Pit Infill
MB-22-432
110.9
122.3
11.4
0.9
Intrusion D2
Pit Infill
MB-22-433
37.7
40.5
2.8
2.2
New H
Pit Infill
MB-22-433
52.0
60.2
8.2
0.7
AB15
Pit Infill
MB-22-434
49.5
72.7
23.2
1.8
D4
Pit Infill
MB-22-434
Including
49.5
53.5
4.0
3.0
D4
Pit Infill
MB-22-434
And Including
61.8
63.3
1.5
11.4
D4
Pit Infill
MB-22-434
81.0
104.2
23.2
1.2
Intrusion D2
Pit Infill
MB-22-434
Including
94.0
95.1
1.1
8.3
Intrusion D2
Pit Infill
MB-22-434
And Including
97.5
98.3
0.8
14.8
Intrusion D2
Pit Infill
MB-22-434
111.6
132.2
20.6
0.9
D2
Pit Infill
MB-22-434
Including
113.7
114.3
0.6
10.6
D2
Pit Infill
MB-22-435
97.8
99.5
1.7
3.0
AB17
Pit Infill
MB-22-435
121.0
131.3
10.3
1.2
AB23
Pit Infill
MB-22-435
Including
130.0
130.5
0.5
11.2
AB23
Pit Infill
MB-22-436
19.2
31.0
11.8
1.5
H17
Pit Infill
MB-22-436
Including
26.3
29.8
3.5
2.9
H17
Pit Infill
MB-22-436
41.0
96.7
55.7
0.5
Intrusion D2 / D2
Pit Infill
MB-22-436
Including
95.5
96.7
1.2
8.2
Intrusion D2 / D2
Pit Infill
MB-22-437
6.6
18.0
11.4
0.5
D4
Pit Infill
MB-22-438
42.6
56.6
14.0
1.3
AB14/800
Pit Infill
MB-22-438
Including
51.2
54.4
3.2
4.8
AB14/800
Pit Infill
MB-22-438
129.6
137.5
7.9
0.7
D2
Pit Infill
MB-22-440
100.3
110.4
10.1
0.7
D2
Pit Infill
MB-22-442
59.0
65.0
6.0
1.5
D2
Pit Infill
MB-22-442
Including
59.0
60.7
1.7
4.2
D2
Pit Infill
MB-22-442
73.2
75.0
1.8
2.8
Pit Extension S
MB-22-443
38.4
40.0
1.6
3.4
New H
Pit Extension S
MB-22-443
102.2
103.0
0.8
10.9
AB10
Pit Extension S
MB-22-447
44.7
54.0
9.3
0.7
New H
Pit Extension S
MB-22-447
67.6
72.5
4.9
1.3
AB07
Pit Infill
MB-22-449
25.8
48.8
23.0
0.8
D4
Pit Infill
MB-22-449
151.0
156.2
5.2
2.1
D2
Pit extension SW
MB-22-451
49.5
54.2
4.7
1.4
H17
Pit extension SW
MB-22-451
Including
53.3
54.2
0.9
5.8
H17
Pit Infill
MB-22-452
14.1
17.0
2.9
2.6
800
Pit Infill
MB-22-452
Including
15.5
16.5
1.0
6.4
800
Pit Infill
MB-22-452
54.5
65.0
10.5
2.5
D3/AB07
Pit Infill
MB-22-452
Including
57.4
59.0
1.6
7.3
D3/AB07
Pit Infill
MB-22-452
73.4
80.0
6.6
1.4
AB08
Pit extension SW
MB-22-453
19.3
21.0
1.7
4.3
D4
Pit Infill
MB-22-454
16.7
25.9
9.2
1.3
H17
Pit Extension S
MB-22-455
83.7
92.0
8.3
0.9
800
Pit Extension S
MB-22-455
99.0
102.3
3.3
1.7
AB09
Pit extension SW
MB-22-456
46.4
51.3
4.9
1.5
H6
Pit extension SW
MB-22-456
Including
47.7
49.5
1.8
3.7
H6
Pit Infill
MB-22-457
7.2
7.7
0.5
11.9
New
Pit Infill
MB-22-457
Including
153.0
154.5
1.5
4.3
D2
Pit extension SW
MB-22-458
38.8
54.3
15.5
1.8
H6
Pit extension SW
MB-22-458
Including
48.5
49.5
1.0
11.2
H6
Pit Infill
MB-22-459
12.5
18.5
6.0
1.1
New
Pit Infill
MB-22-459
44.2
49.4
5.2
4.1
D4
Pit Infill
MB-22-459
Including
48.8
49.4
0.6
22.3
D4
Pit Infill
MB-22-459
Including
56.1
57.0
0.9
5.7
Intrusion D2
Pit extension SW
MB-22-460
33.3
36.3
3.0
3.5
New H
Pit extension SW
MB-22-460
Including
33.3
34.5
1.2
6.4
New H
Pit extension SW
MB-22-460
69.5
76.1
6.6
5.9
H6
Pit extension SW
MB-22-460
Including
74.4
75.6
1.2
20.1
H6
Pit Infill
MB-22-461
100.5
101.0
0.5
11.4
Intrusion D1
Pit extension SW
MB-22-462
159.0
176.2
17.2
0.5
D2
Pit extension SW
MB-22-462
179.8
185.1
5.3
1.5
D2
Pit Extension S
MB-22-463
98.8
186.7
87.9
0.6
801/AB09/AB20
Pit Extension S
MB-22-463
Including
106.2
106.7
0.5
36.4
801
Pit Extension S
MB-22-463
Including
136.7
137.7
1.0
12.0
800
Pit Infill
MB-22-464
19.1
42.2
23.1
1.0
D4
Pit Infill
MB-22-464
Including
26.8
29.7
2.9
3.0
D4
Pit Infill
MB-22-464
Including
87.2
88.1
0.9
6.1
D4
Pit Infill
MB-22-464
103.9
116.6
12.7
2.1
D2
Pit Infill
MB-22-464
Including
112.8
113.3
0.5
44.9
D2
Pit Infill
MB-22-465
35.0
45.1
10.1
0.6
AB14
Pit Infill
MB-22-467
20.0
27.8
7.8
1.6
AB14
Pit Extension S
MB-22-468
97.0
101.8
4.8
1.3
800
Pit Infill
MB-22-469
12.0
65.4
53.4
0.8
AB07/D5
Pit Infill
MB-22-469
Including
52.5
57.1
4.6
6.7
D5
Pit Infill
MB-22-470
16.0
53.0
37.0
1.0
AB07/D5
Pit Infill
MB-22-470
Including
28.5
37.1
8.6
3.2
AB07
Pit extension N
MB-22-473
6.8
23.8
17.0
0.9
D2
Pit extension N
MB-22-473
Including
11.0
12.5
1.5
6.1
D2
Pit Extension S
MB-22-474
137.8
161.7
23.9
1.2
800
Pit Extension S
MB-22-474
Including
137.8
142.5
4.7
3.3
800
Pit extension N
MB-22-475
32.0
33.9
1.9
4.3
H8
Pit Infill
MB-22-476
35.5
39.0
3.5
4.6
D2
Pit Infill
MB-22-476
Including
35.5
36.0
0.5
28.1
D2
Pit Infill
MB-22-478
9.0
35.8
26.8
0.5
Intrusion D2
Pit Infill
MB-22-478
73.0
82.4
9.4
1.0
D2
Pit Infill
MB-22-478
Including
76.8
78.6
1.8
4.7
D2
Pit Infill
MB-22-481
101.7
103.3
1.6
4.0
D2
Pit Infill
MB-22-482
11.2
14.0
2.8
7.7
D2
Pit Infill
MB-22-482
Including
11.2
12.0
0.8
26.0
D2
Pit Infill
MB-22-484
67.0
73.8
6.8
1.0
D2
Pit Infill
MB-22-485
11.4
15.2
3.8
2.9
New vertical
Pit Infill
MB-22-485
Including
13.3
15.2
1.9
5.4
New vertical
Pit Infill
MB-22-485
30.3
44.6
14.3
0.7
New vertical
Pit extension N
MB-22-488
52.8
57.6
4.8
6.4
H8
Pit extension N
MB-22-488
Including
55.6
56.1
0.5
58.1
H8
Pit Infill
MB-22-491
70.5
74.0
3.5
1.8
D2
Pit Infill
MB-22-492
84.8
89.2
4.4
5.4
D2
Pit Infill
MB-22-492
Including
86.5
87.6
1.1
17.7
D2
Pit extension SW
MB-22-493
82.5
90.0
7.5
4.5
H6
Pit extension SW
MB-22-493
Including
86.0
89.4
3.4
7.5
H6
Pit Infill
MB-22-494
110.8
121.6
10.8
0.5
D2
Pit extension SW
MB-22-495
69.8
72.7
2.9
2.4
Pit extension SW
MB-22-495
76.6
84.0
7.4
1.3
H17
Pit extension SW
MB-22-495
Including
81.0
82.0
1.0
7.1
H17
Pit extension SW
MB-22-495
106.6
110.7
4.1
6.3
H6
Pit extension SW
MB-22-495
Including
109.3
110.0
0.7
27.2
H6
Pit extension SW
MB-22-495
117.0
119.4
2.4
4.3
D2
Pit extension SW
MB-22-495
Including
117.0
118.4
1.4
7.3
D2
Pit extension SW
MB-22-496
78.0
91.0
13.0
1.4
New H
Pit extension SW
MB-22-496
Including
78.8
81.7
2.9
5.2
New H
Pit Infill
MB-22-499
102.0
103.0
1.0
9.8
Intrusion D2
Pit Infill
MB-22-501
4.6
24.5
19.9
0.5
D4
Pit Infill
MB-22-501
49.1
53.1
4.0
2.1
Intrusion D2
Pit Infill
MB-22-501
Including
49.7
50.2
0.5
10.9
Intrusion D2
Pit Infill
MB-22-501
72.0
80.4
8.4
0.7
D2
Pit extension SW
MB-22-505
33.3
36.3
3.0
7.9
D2
Pit extension SW
MB-22-505
Including
33.3
34.3
1.0
22.8
D2
Pit extension SW
MB-22-507
12.7
17.4
4.7
2.5
H6
Notes: 1) The meterage represents the length of the drilled lengths. 2) Estimated true widths for the Barry deposit 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.
Quality Control and Reporting Protocols
The Barry project's drill core gold analyses are performed at the Company's Bachelor Mine analytical laboratory (the "Laboratory") and at AGAT Laboratories, located in Val-d'Or. The Company employs a rigorous QA-QC analysis program that meets industry standards. The analyses are carried out by fire assay (A.A.) with atomic absorption finish at the Laboratory and with gravimetric finish for assay above 10 g/t Au at 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 10% 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 Persons
Boris Artinian, P.Geo., (OGQ # 1546) Chief Geologist of the Company oversees all exploration activities on the Barry property and has compiled and approved the information contained in this press release. Mr. Artinian is a qualified person as defined by National Instrument 43-101 ("NI-43-101").
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.
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.
Cautionary and 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.
