Bonterra Resources drills 7.1 g/t gold over 7.6 metres at Barry project, Quebec

Bonterra Resources Inc. [BTR-TSXV; BONXF-OTCQX; 9BR2-FSE] reported results from the continuing drilling campaign at the 100%-owned Barry project, Quebec. Recent drilling results expand upon the northeast sector of the Barry deposit near surface and the southwest sector at depth.

The latest results obtained from 43 diamond drill holes are designed to increase the 2021 mineral resource estimate (MRE). Drilling highlights include 7.1 g/t gold over 7.6 metres in the near-surface zone AB08, approximately 200 metres northeast of the previously released intercept 8.0 g/t gold over 7.6 metres.

Bonterra is currently drilling at a rate of approximately 7,500 metres per month, focused mainly on expanding its Barry and Gladiator gold deposits highlighted within the recently released 2021 MRE.

Highlights include 7.1 g/t gold over 7.6 metres, including 20.1 g/t gold over 1.4 metres and 13.2 g/t gold over 1.4 metres in hole MB-21-417. Hole MB-21-404 returned 1.3 g/t gold over 12.0 metres, including 3.0 g/t gold over 4.8 metres. Hole MB-21-409 returned 2.3 g/t gold over 9.0 metres, including 6.8 g/t gold over 2.6 metres.

Hole MB-21-410 returned 17.4 g/t gold over 4.4 metres, including 146.0 g/t gold over 0.5 metres. Hole MB-22-416 returned 10.8 g/t gold over 5.1 metres, including 23.1 g/t gold over 1.4 metres. Hole MB-22-420 returned 12.1 g/t gold over 6.1 metres, including 73.5 g/t gold over 0.5 metres.

Marc Andre Pelletier, president and CEO, commented: “These recent drill results confirm the extension of the mineralization near surface and at depth at Barry, extending the existing mineral resource by over 200 m to the northeast from the resource pit shell, and up to 50 m to the southwest of the underground resource. The continuation of the H12 zone and the discovery of new H series at depth demonstrate the potential to add more ounces beyond the existing 2021 MRE.

“Work is currently underway on a Preliminary Economic Assessment (PEA) based on the open pit resources at Barry in the 2021 MRE. The PEA is projected to be completed in late Q2 2022 and is expected to demonstrate the potential for restarting mining operations in the near term. The company will soon undertake infill and definition drilling on the underground portion of the deposit to better understand the potential of an underground mining scenario.”

“At present, exploration activities at Barry include one drill rig drilling an additional 400 m to the northeast of the existing open pit resources and a second drill on regional exploration targets, approximately 5 km northeast of the Barry deposit.”

At the Bachelor Mine Complex, the permitting process for the mill and tailings management area expansion is ongoing, and Bonterra expects to provide additional information by mid-year with a COMEX permit expected by end of 2022 and provincial permits thereafter.

The Barry drilling campaign is currently focused on the expansion of key gold mineralized northeast of the 2021 MRE. Multiple diamond drill holes have been designed to confirm the open pit extension potential to the northeast. Several drill holes have confirmed the extension of the mineralization near surface with large intercepts grading above the open pit resource cut-off grade (1.0 g/t Au). Specifically, hole MB-21-417 extended the near surface mineralization by 200 metres with 7.1 g/t gold over 7.6 metres, including 20.1 g/t gold over 1.4 metres and 13.2 g/t gold over 1.4 metres in the AB08 zone and 3.9 g/t gold over 6.3 metres, including 10.1 g/t gold over 2.0 metres in a new H series zone.

Expansion drilling has also confirmed the mineral continuity and expansion of several known H-Type zones, particularly the H12 zone with holes MB-22-420 and MB-22-416, which respectively intersected 12.1 g/t gold over 6.1 metres, including 73.5 g/t gold over 0.5 metres and 10.8 g/t gold over 5.1 metres, including 23.1 g/t gold over 1.4 metres, expanding the mineralization by 75 metres at depth and 50 metres southwest beyond the 2021 MRE.

Bonterra has four main assets, Gladiator, Barry, Moroy, and Bachelor that collectively have a total of 1.24 million ounces in Measured and Indicated categories, and 1.78 million ounces in Inferred category. Importantly, the company owns the only permitted and operational gold mill in the region.