Vancouver, BC – October 1, 2018: Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR1) (the “Company” or “Bonterra”) is pleased to announce the latest drilling results from the ongoing resource development program at the Gladiator Deposit, including and intersections of 37.5 g/t Au over 3.3 m at the South Zone. Step out drilling continues to reveal new areas of high-grade mineralization and expand known extents of mineralization. Recent definition drilling results demonstrate the continuity of mineralization in multiple zones.
Highlights and Observations:
- BA-18-63 intersected the South Zone with 37.5 g/t Au over 3.3 m, proving continuity of the high-grade trend within the zone.
- BA-18-63 also intersected multiple structures at the Main Zone with 9.1 g/t Au over 1.0 m and 8.9 g/t Au over 1.0 m.
- BA-18-64 intersected the Footwall, Main and South Zones demonstrating the continuity of gold bearing quartz veins across multiple zones.
- BA-18-65 intersected the North Zone with 11.9 g/t Au over 2.0 m and extended the Main Zone down plunge with 11.3 g/t Au over 1.6 m.
- BA-18-65 also expanded the South Zone, extending the zone towards surface at 700 m depth with 9.8 g/t Au over 2.0 m.
- BA-18-67A further defines Main Zone with 8.5 g/t Au over 2.0 m, proving the continuity of the zone at 400 m below surface.
- BA-18-69 extended the Main Zone in the Rivage area with 9.0 g/t Au over 2.0 m. This intersection expands the zone down plunge and opens up the Rivage area for further extension at depth.
The ongoing resource development program continues to expand and define the Gladiator Gold Deposit ahead of the updated mineral resource estimate scheduled for Q4 2018. Drilling to be included in the upcoming mineral resource estimate has now been completed. Drilling continues with three drills at the deposit focused on extension drilling along strike to the northeast and southwest.
*Stated lengths are core width as drilled, true widths vary and average between 60 and 80 percent of drilled widths. Core axis angles of the intersection contacts and surrounding rock units average 55 to 70 degrees.
Please see http://bonterraresources.com/projects/gladiator-project/maps-sections/ for updated maps including long sections and cross sections.
Bonterra Resources Quick Facts:
- Control of three advanced high-grade gold deposits (Gladiator, Moroy, Barry) and significant regional targets
- 100% ownership of the Urban-Barry Mill, the only permitted gold mill in the region
- Strong shareholder base including: Eric Sprott and Kirkland Lake Gold
- New NI 43-101 Mineral Resource Estimate anticipated in 2018 for the Gladiator and Barry Deposits
Robert Gagnon, P.Geo., has approved the information contained in this release. Mr. Gagnon is a director of Bonterra and is a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
Bonterra Resources Inc.
For further information on Bonterra, contact Investor Relations
Telephone: 1 844 233 2034
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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. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. 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; increases in input costs; litigation, legislative, 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 labor 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. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.