Bonterra Resources drills 5.18 g/t gold over 3.3 metres at Phoenix, Quebec

Bonterra Resources Inc. [TSXV-BTR; OTCQX-BONXF; FSE-9BR2] released encouraging drill results and provided an update on the continuing drilling program on the Phoenix joint venture (formerly known as the Urban-Barry property), Quebec. The project is under a definitive earn-in and joint venture agreement with Osisko Mining Inc. [TSX-OSK].

Under the Agreement, Osisko Mining can acquire up to a 70% interest in the project by spending $30 million in work expenditures, with a minimum spending commitment of $10 million per year over a three-year period.

To date, approximately 20,000 metres have been drilled on the project and exploration efforts are on track to exceed the minimum spending commitment of $10 million per year outlined in the agreement. There are currently five drill rigs on the Moss target, while one is dedicated to the Barry northeast target.

The first drill results at the Moss target, located 5 km southwest of the multi-million-ounce Windfall Gold deposit, have confirmed similarities with the geological character of the high-grade Lynx Zone along the Mazeres Fault that extends towards the Moss target.

Highlights at Moss Target Include: 5.18 g/t Au over 3.3 m, including 16.75 g/t Au over 1.0 m and,3.19 g/t Au over 2.9 m, including 12.70 g/t Au over 0.7 m in hole OSK-PHX-24-04; 6.76 g/t Au over 0.8 m and 9.63 g/t Au over 0.5 m in hole OSK-PHX-24-13 and 9.52 g/t Au over 0.3 m in hole OSK-PHX-24-030.

Marc-Andre Pelletier, President and CEO, commented: “Today’s results are very encouraging and demonstrate geological similarities to the Windfall gold deposit. Notably, most of the drill hole intercepts at Moss are within 400 m below surface, with additional drilling planned to confirm mineralization continuity at depth. Osisko Mining intends to mobilize one additional drill rig in the next few months, bringing the total to six operational rigs at the Moss target. Although it’s still early in the discovery process, we’re excited by the results thus far and impressed by Osisko Mining’s commitment to accelerating the development of the Urban-Barry mining camp, where nearly ten million ounces have already been identified to date.”

The drilling program at the Moss target includes several drill fences designed at defining the litho-structural context of the area, which according to current geological models, is similar to that encountered at the Lynx Zone within the Windfall gold deposit. Notably, this involves exploring the presence of altered felsic volcanic rocks, felsic porphyritic dikes, and high-grade gold mineralization associated with quartz veins within the footwall of the Mazeres fault. Additionally, these drill fences seek to intersect potential new mineralized lenses situated between the Mazeres fault and the Moss showing.

True width determination is currently unknown but is estimated at 55-80% of the reported core length interval for the zone.2) Assays are uncut except where indicated.3) Intercepts have not been correlated to individual zones or vein domains at this time.

Bonterra’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.