Bonterra says deep drilling extends Quebec gold deposit
Bonterra Resources Inc. [BTR-TSXV, BONXF-OTC, 9BR1-FSE] has announced the expansion at depth of its Barry gold deposit in Quebec as a result of deep drilling. The project is under a definitive earn-in and joint venture agreement with Gold Fields Ltd. that gives that latter company the right to acquire a 70% interest in the project by spending $30 million, including a minimum spend of $10 million annually over three years.
Bonterra is a gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec. Those assets include the Gladiator, Barry, Moroy and Bachelor gold deposits, which collectively hold 16.8 million tonnes at an average grade of 3.02 g/t gold or 1.63 million ounces in the measured and indicated category, plus 15.6 million tonnes at an average grade of 4.32 g/t or 2.17 million ounces in the inferred category.
In a press release on February 23, 2026, the company said Barry contains an open pit measured and indicated resource of 417,000 ounces of grade 1.67 g/t gold within 7.79 million tonnes and 9,000 inferred ounces of gold grading 2.32 g/t gold within 125,000 tonnes.
Barry is also estimated to host an underground measured and indicated resource of 457,000 ounces grading 3.47 g/t gold within 4.09 million tonnes and 962,000 ounces of inferred material, grading 3.41 g/t gold within 8.8 million tonnes. In the February news release, the company said the estimate is based on 73 veins grouped within 10 shallow to steeply dipping vein sets from surface to a depth of 650 metres.
“The discovery of mineralization extending at depth at the Barry deposit is a significant development underscoring the potential to substantially increase gold ounces beyond the current mineral resources,” said Bonterra Executive Chairman and Interim CEO Cesar Gonzalez. “The results released today were drilled approximately 100 metres from the boundary of the mineral resource estimate published last February,’’ he said. “Notably, all five holes intersected potential mineralization consistent with Zone H at the Barry deposit.’’
Drilling highlights include 7.59 g/t gold over 1.9 metres, including 17.75 g/t gold over 0.6 metres, in hole BAR-26-0617.
The 2026 exploration program was designed to test targets located south-west and east of the Barry deposit and included deep drilling to evaluate the down plunge extension of mineralization at depths of approximately 750 to 850 metres, as well as the eastern down-plunge extension of the deposit.
Diamond drilling at Barry began in January with two drill rigs and was complete in April. A total of 14 diamond drill holes covering 8,346 metres has been completed. A total of 9,465 NQ core samples has been submitted to accredited laboratories, with about 30% of the assay results pending.
On Thursday, Bonterra shares rose 0.443% or $0.03 to $6.80, and trade in a 52-week range of $7.64 and $3.33. The Barry Mine was in production from 2008 to 2010, producing 44,000 ounces of gold.