The Gladiator Gold Deposit near Val d’Or in Québec occurs a few meters below surface and has been outlined to extend to depths exceeding 650 m with a total length of at least 1.2 km.
Today, BonTerra Resources Inc. reported highly significant drill results from the western part of its 100% controlled Gladiator Gold Deposit in the north of the prolific Val d’Or Mining District in Québec, Canada.
One of the 2 holes disclosed today returned 64.3 g/t gold over 2 m at 130 m below surface. The other hole intersected 8.7 g/t gold over 3 m at over 300 m below surface. Both holes were drilled in the “Rivage Gap”, a previously untested section beyond the western extension of the Gladiator Gold Zone.
Of significance, both holes provide confirmation that the strike length of the Gladiator Deposit has now been increased by 500 m to over 1.2 km from its previously drilled length of 700 m (November 16, 2016) and outlined from surface to a depth of 650 m. This is turning out to be a very large gold system. As a result, the Rivage Zone now joins with the main Gladiator Zone. The Rivage Zone was previously interpreted to be an isolated parallel zone with very limited information consisting of surface sampling and 4 drill holes.
Gladiator Deposit As Of Today:
Gladiator Deposit As Of November 16, 2016:
Both cross-sections show the difference that a couple of holes can make. Today’s drill results also highlight the magnitude of the size of the Gladiator Gold Deposit, indicating the strength of the system at depth. Nav Dhaliwal, President and CEO of BonTerra, commented today:
“A re-interpretation by our geological team of the orientation of the Rivage Zone relative to the main zone has resulted in the confirmation that the Rivage is simply a strike extension of our Gladiator deposit. This first attempt at joining the two zones has resulted in a significant strike extension to the Gladiator Gold Deposit. The “Gap”, noting its 500-meter strike length and being open to depth, provides an excellent opportunity to continue expanding the dimensions of the Gladiator Gold Deposit.”
During the last few months, BonTerra completed geophysics in the eastern part of the deposit and drilled an additional first 7 holes, which results have been disclosed on November 16: Hole #39 discovered 70 g/t gold over 5.5 m at approximately 600 m below surface. Also of significance, 50 m deeper and 100 m east of hole #39, another hole (#38) intersected another high-grade gold zone with 12.4 g/t gold over 4 m. Dale Ginn, Vice President Exploration of BonTerra, commented on November 16:
“Our 2016 winter drilling campaign has proven that our Gladiator Gold Zones exhibit excellent continuity to the west and to depth. Our followup drill program was completed with the intention to methodically explore the eastern extensions at a measured pace over the summer months, while conducting ground geophysical and geochemical till programs over a majority of the large Bonterra land package. This summer’s drilling program has matured greatly our understanding of the deposit and has given us the confidence to take a more aggressive stance on further strike length and depth expansion drilling this coming winter. The down plunge results are a further confirmation of the strength and potential breadth of this mineralized system. Our technical team looks forward to expanding this deposit to the west, east and to depth this winter. ”
At a 4 g/t cold cutoff, the Gladiator Deposit currently hosts a NI43-101-compliant resource estimate of 905,000 tonnes averaging 9.37 g/t gold (total of 273,000 ounces of contained gold). This resource estimate was calculated in 2012 and as such does not include the many holes drilled in late 2015 and all of 2016. An updated resource estimate is targeted for early 2017 after more drilling to expand further as it remains open in all directions (currently 2 drill rigs in action on the property).
Larder Lake Deposit
BonTerra also owns the Larder Lake Gold Deposit with an historic inferred resource of 917,000 ounces of gold at an average grad of 5.55 g/t gold. This highly prospective gold project may soon be explored with an extensive drill program in order to further increase the enterprise value. Note: Approximately 90% of the world’s operating mines have an average gold grade less than 8 g/t.
BonTerra Resources Inc.
#510 – 744 West Hastings Street
Vancouver, B.C. V6C 1A1 Canada
Phone: +1 855 678 5308
Shares Issued & Outstanding: 89,709,179
Canadian Symbol (TSX.V): BTR
Current Price: $0.23 CAD (12/07/2016)
Market Capitalization: $21 million CAD
German Symbol / WKN (Tradegate): 9BR1 / A12AZ5
Current Price: €0.151 EUR (12/07/2016)
Market Capitalization: €14 million EUR
Report #1: "Gladiator Deposit Now 700 m Long and 650 m Deep and Getting Bigger: Latest Hole 70 g/t Gold over 5.5 m" (November 16, 2016)
Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist.