Vancouver, BC / TheNewswire / June 20, 2016: BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the "Company" or "BonTerra") is pleased to announce that a 2016 Summer Resource Development and Exploration Drill Program has commenced on its 100% owned Gladiator Gold Project located north of Val d'Or, Quebec. The exploration program will include up to 10,000 meters focused on the eastern extension of the Gladiator Project along strike and at depth of the Main and Footwall zones. The Company recently completed approximately 10,000 meters on the western extension of the Gladiator Project, which remains open to the west.
Nav Dhaliwal, President and CEO of BonTerra, stated: "Over the last year we have changed the exploration landscape of the Urban Barry Camp by increasing our land position by over 170% and expanding the previously known limits of our Gladiator Gold Project by 450m in strike length to the west and to a total depth of 450m. In addition, we have successfully raised close to $6 million with key investors, completed the purchase of the Larder Lake Gold Project in Ontario, and recently announced a strategic financing of up to $5 million to now test the eastern extension of Gladiator. Based on our experience and knowledge of the gold system at Gladiator from our 2016 Winter Drill Program, we can apply our knowledge towards the eastern part of our expanded land position in the Urban Barry Camp that we strategically secured in early 2016. The Gladiator gold system continues to demonstrate the makings of a sizable deposit, where significant ounces may potentially be added to our current gold resource."
At the Larder Lake Gold Project, BonTerra is currently compiling an extensive historical database completed by Gold Fields Ltd. when in their previous joint venture with Kerr Mines. This work is now being incorporated into BonTerra's system and will help to guide future drill programs at the Larder camp to understand the significant historical gold resource.
BonTerra Resources Quick Facts:
-
-7,563-hectare (Gladiator Project) in the Urban-Barry Camp in Quebec containing:
-
-Using a 4 g/t Au cut-off grade, the project currently contains an inferred resource of 905,000 tonnes, grading 9.37 g/t Au for 273,000 ounces of gold. Of note, ~90% of the worlds operating mines have an average gold grade less than 8 g/t. Mineral Resource Estimate and technical report filed July 27, 2012, Snowden Mining Consultants.
-2016 Exploration Program underway - up to 25,000 meters utilizing minimum of two drill rigs at its 100% owned Gladiator Gold Project to expand current gold resource.
-2,165-hectare (Larder Property) in the Cadillac-Larder Break camp in Ontario (refer to March 17, 2016 news release highlighting historical gold resource).
Dale Ginn, P.Geo. has approved the information contained in this release. Mr. Ginn is a Director and Vice-President Exploration for BonTerra and is a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President & CEO
BonTerra Resources Inc.
For additional information, please contact:
Todd Hanas
Corporate Development
E: todd@bonterraresources.com
T: 866.869.8072
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking information" that is based on Bonterra''s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Bonterra disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Copyright (c) 2016 TheNewswire - All rights reserved.
