Val-d'Or, Quebec--(Newsfile Corp. - December 17, 2024) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to announce initial assay results from its 4,761 meters ("m") diamond drilling campaign at its 100% owned Desmaraisville South Project ("theProject"). The campaign aimed to test several new targets, focusing on: (1) observations from the 2024 fieldwork campaign, (2) follow-up on promising gold-mineralized environments identified in the 16,000 m fall 2023 drill campaign, (3) newly identified geophysical IP targets within the Opawica-Guercheville regional deformation corridor, and (4) the near-surface extension of the Hewfran gold mineralized zone.
All drill holes are located within 5 kilometers ("km") of the Bachelor Mill Complex, ranging from near surface to a depth of less than 300 m. One drill hole, BRDS-24-072, was drilled on the Nelligan joint venture ("Nelligan JV") in partnership with O3 Mining Inc. (now Agnico Eagle Mines Ltd or "Agnico") where Bonterra holds a 70% interest in the Nelligan JV (see O3 Mining press release dated December 12, 2024, for more details on the acquisition by Agnico). The Nelligan JV covers an area equivalent to approximately 15% of the Project.
Marc-André Pelletier, President and CEO commented: "This year's exploration efforts have led to the discovery of four new mineralized zones within 5 km of our 100% owned Bachelor Mill Complex on the Desmaraisville property. These zones are near surface, exhibit extensive widths of mineralized material suitable for mining, and will be prioritized for future follow-up work. With significant potential for additional discoveries, we remain committed to actively exploring the property, leveraging the benefits of innovative technologies like VRIFY's AI-assisted mineral discovery platform. Furthermore, we are excited to welcome Agnico Eagle as a partner following the transaction with O3 Mining, and we look forward to collaborating on the Nelligan JV with our new partner."
The campaign consisted of 16 diamond drill holes completed between August to November 2024. A total of 2,500 diamond drill core (NQ) samples, along with 408 Quality Assurance and Quality Control ("QA/QC") samples, were submitted to various laboratories. To date, 682 analytical results remain pending.
Highlights Include:
1.13 g/t Au over 16.0 m, including 2.02 g/t Au over 6.0 m in hole BRDS-24-063
5.30 g/t Au over 1.4 m, including 18.39 g/t Au over 0.4 m in hole BRDS-24-060
2.58 g/t Au over 6.0 m, including 4.50 g/t Au over 3.2 m in hole BRDS-24-065
0.59 g/t Au over 22.3 m, including 3.17 g/t Au over 2.4 m in hole BRDS-24-066
Highlights of the Diamond Drilling Results
The diamond drilling campaign at the Project was performed on four different areas based on results from the fall 2023 drill campaign, compilation work and a fieldwork campaign conducted during the spring and summer of 2024 (Figure 1).
Figure 1– Desmaraisville South Property – Surface Plan View with Drilling Locations
At the East Area, new drill holes were positioned to better intersect Northeast trending gold-bearing geological structures reinterpreted from the 2024 mapping campaign. Drill hole BRDS-24-060 intersected a hydrothermal breccia with 4-6 % fine grained pyrite. Further to the south, two drill holes, BRDS-24-061 and BRDS-24-066, were drilled at a similar azimuth and intersected highly fractured and sheared horizons with pyrite mineralization (Figure 2 and Tables 1 and 2).
Figure 2 – Plan View of the O'Brien Intrusive with Best Assay Results
West of the Bachelor Lake Intrusion, new drill holes were drilled to test the extensions of the gold intercept in drill hole BRDS-23-013 (0.80 g/t Au over 11.7 m, including 2.84 g/t Au over 1.4 m (see press release dated February 5, 2024). Drill hole BRDS-24-063 was drilled as an overcut of BRDS-23-013 and intersected a mineralized shear zone with abundant sericite, silicification and pyrite. Drill hole BRDS-24-065 was drilled as a bracket hole and also intersected a shear zone with abundant sericite, silicification, carbonate and from 2 to 5% pyrite. It remains to be determined if the gold mineralization is related to a specific geological structure or late intrusion (see Figure 3, Tables 1 and 2).
Figure 3 – Plan View of Area West of Bachelor Lake Intrusion with Best Assay Results
New IP targets located in the Opawica-Guercheville regional deformation corridor were evaluated during this drilling campaign. Three holes, BRDS-24-067, BRDS-24-068 and BRDS-24-072, were drilled at different locations along the corridor of deformation and intersected moderately to strongly deformed volcano-sedimentary units crosscut by quartz-carbonate veins with hydrothermal alteration and sulphide mineralization. Some iron formations and graphitic mudstones horizons were also intersected (Figure 1 and Table 1). Assay results are pending.
The near surface extension of the Hewfran Orebody was also drill-tested. This drilling was designed following the results of the mapping and sampling program carried out in the summer of 2024. A series of new channel samples from an old trench returned a graded interval of 2.79 g/t Au over 5.9 m. Four shallow drill holes were completed to evaluate near-surface projections of new gold mineralized zones, possibly located up-dip of the Hewfran orebody. Drill hole BRDS-24-057 intersected near surface strongly silicified and hematized horizon with pyrite mineralization (Figure 2 and Tables 1 and 2).
Table 1: Drill Hole Locations – Desmaraisville South Project
Hole ID
Easting
Northing
Elevation (m)
Azimuth
Dip
Length (m)
BRDS-24-057
416210
5483522
318
140
-50
201
BRDS-24-060
417804
5483327
338
290
-50
288
BRDS-24-061
417885
5482913
334
300
-50
270
BRDS-24-063
418389
5485854
314
180
-50
168
BRDS-24-065
418419
5485852
315
230
-50
204
BRDS-24-066
417861
5482835
334
300
-50
300
BRDS-24-067
416652
5488766
318
170
-50
492
BRDS-24-068
416698
5488550
307
160
-50
501
BRDS-24-072
413100
5485224
305
150
-50
561
UTM Coordinates, System: NAD83 Zone 18N
Table 2: Significant Mineralized Intersections from Drilling on the Desmaraisville South Project
Hole ID
Including
From (m)
To (m)
Length (m)
Grade (Au g/t)
Metal Factor (length x grade)
BRDS-24-057
8.0
20.5
12.5
0.88
11.0
including
12.0
16
4.0
2.18
8.7
BRDS-24-060
85.4
86.7
1.4
5.30
7.2
including
85.4
85.7
0.4
18.39
6.4
BRDS-24-061
34.0
45.1
11.1
1.28
14.2
including
34.0
35.8
1.8
3.60
6.5
BRDS-24-063
89.0
105.0
16.0
1.13
18.0
including
96.0
102.0
6.0
2.02
12.1
and
127.0
130.0
3.0
2.78
8.3
BRDS-24-065
111.0
117.0
6.0
2.58
15.5
including
112.0
115.2
3.2
4.50
14.4
BRDS-24-066
277.8
300.0
22.3
0.59
13.2
including
289.4
291.8
2.4
3.17
7.4
1) The meterage represents the drilled lengths. More drilling will be required to estimate true widths. 2) All of the above mineralized intersections are uncut. 3) All of the above results have an Au grade greater than 0.5 g/t Au and a metal factor greater than 5.0.
Quality Control and Reporting Protocols
The Desmaraisville South Project's drill core gold analyses were performed at Activation Laboratories ("Actlabs") located in Ste-Germaine-Boulé, Québec, and at the Agat Laboratory ("Agat") located in Val-d'Or, Québec. These 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 both Actlabs and Agat. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor the Laboratory's performance. Other core samples gold analysis was performed at MSALabs of Val d'Or, Québec. The samples were crushed to a particle size of 70% passing through a two-millimeter sieve, and then a 500-gram portion was taken for gold analysis by gamma ray (PhotonAssayTM). As per MSALABS' internal procedure, blank samples, and certified reference materials are systematically inserted into the analysis sequence. MSALABS operates several laboratories worldwide and holds ISO-17025 accreditation for numerous metal determination methods, including the photon assay method.
The Company's QA-QC program requires that at least 5 to 10% of the samples be analyzed by an independent laboratory. These verification samples are sent to ALS Minerals laboratory facility located in Val-d'Or, Québec. The verifications show a high degree of correlation with the laboratory's results.
Qualified Person
M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, oversees all exploration activities on the Desmaraisville 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 portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.
In November 2023, the Company entered into a earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the "JV Agreement"), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd completed the acquisition of Osisko Mining for C$2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring C$30 million in work expenditures until November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step towards development.
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9 819-279-9304 | Website: www.btrgold.com
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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 the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. 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.
