BonTerra Resources Inc. [BTR-TSXV; BONXF-OTC; 9BR1-FSE] reported that recent drilling in the 2017 Resource Development Program at the Gladitaor gold deposit has identified additional high grade gold zones near surface on the west side Rivage Gap extension. The 8,126-hectare, 100%-controlled project is located in the Urban-Barry Camp of northwestern Quebec. Drill hole BA-17-05 intersected five distinct gold zones including two new zones, and a notable western extension of the FW Zone which intersected 6.0 metres grading 41.0 g/t gold at a depth of approximately 60 metres below surface.
Highlights and Observations:
Hole BA-17-05 encountered multiple high-grade intersections in the “Rivage Gap”, continuing to demonstrate continuity of the Gladiator Deposit to the west and joining with the Rivage Zone.
The hole hit two new horizons near surface as well as the FW, Intrusive and Main horizons. The two new zones were outlined between 20 m and 50 m below surface, specifically:
• 12.0 m grading 1.1 g/t gold in a mineralized felsic porphyritic intrusive host.
• 5.0 m grading 23.6 g/t gold in a shear hosted vein with visible gold.
The FW Zone produced a very high grade intersection of:
• 6.0 m grading 41.0 g/t gold including 1.6 m grading 147.9 g/t.
Refer to company press releases for more detailed drill results. The 2017 drill holes BA-17-02, BA-17-03 and BA-17-04 are awaiting further assay results; BA-17-03 will be deepened further noting the hole ended in a mineralized felsic intrusive.
Three drill rigs are currently operating with a fourth drill rig currently being considered for the on-trend Coliseum gold property. Follow-up drilling is planned to test anomalies and targets recently generated by recent ground geophysical and geochemical till sampling programs.
The drilled dimensions of the Gladiator deposit is currently outlined to a depth of 800 metres below surface, and a strike length of 1,200 metres (1.2 km). Gladiator remains open in all directions with drilling currently focused on the Deep East Zone, the Rivage Gap western side, Rivage Gap infill and a potential Coliseum exploration. At least five distinct subparallel zones or mineralized horizons have been identified to date.
Nav Dhaliwal, CEO and President of BonTerra, said,“Our technical team continues to intersect significant drill results and in addition has uncovered new zones in and around the Gladiator Gold Deposit. We are focused on completing our resource development program in 2017, and delivering an updated geological model that will substantially increase the contained ounces at the Gladiator gold deposit.”
Dale Ginn, Vice-President Exploration of BonTerra, stated, “The Rivage Gap is not only adding strike length to our known zones, but it is also yielding new gold horizons close to surface. The presence of multiple continuous (especially) high grade zones is significant and a potential positive contributor to delivering a better than average gold ounces per vertical meter number that mine developers and producers are wanting to see.”
Kinross Gold Corp. [K-TSX; KGC-NYSE] has agreed to acquire, by way of private placement, 14,857,440 common shares of BonTerra at a price of $0.35 per share for total gross proceeds of $5,200,104. On closing, Kinross will hold approximately 9.5% of BonTerra’s issued and outstanding common shares on an undiluted basis.
BonTerra is well financed with close to $15 million in its treasury and no debt.