Val-d'Or, Quebec--(Newsfile Corp. - October 17, 2019) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (the "Company" or "Bonterra") is pleased to announce the discovery of a new zone of gold mineralization at the Moroy Project. Recently completed diamond drill hole intercepts in the new zone, referred to as the M4 Zone, are summarized in the table below. Highlights include:
- 18.09 grams per tonne Au over 3.6 metres in hole MY19-158
- 18.39 grams per tonne Au over 2.94 metres in hole MY19-161
- 11.09 grams per tonne Au over 11.41 metres in holes MY19-166
The Moroy deposit is located on the Company's 125 square kilometer Bachelor Lake Property, approximately 225 kilometres northeast of Val-d'Or and is located south of the Bachelor Mine. Mineralization at Moroy consists of quartz veins with minor pyrite hosted by hematite, sericite, quartz, and pyrite altered volcanic rocks. Mineralization previously delineated at Moroy, and included in the Company's Mineral Resource Estimate (May 28, 2019), consists dominantly of a westerly striking and steeply north dipping (approximately 60 - 80 degrees) vein system. In contrast, the M4 Zone dips shallowly, approximately 20 - 30 degrees (to the north-northwest). The delineation of the M4 Zone represents a newly recognized orientation for mineralization at Moroy. A plan view of the M4 Zone including drill hole pierce points and intersection grades is attached.
Greg Gibson, Company President and CEO stated, "We are thrilled with our drilling results to date, especially the discovery of high-grade gold within the Moroy project at our M4 target area. These results demonstrate the tremendous prospectivity of the company's district scale holdings."
|Hole ID||From (m)||To (m)||Length (m)||Au (g/t)|
1) True widths are approximately 65 - 80% of intersection lengths
2) Hole MY19-158 was previously released June 12, 2019
3) NSA - No significant assays
Analyses and QAQC
Gold analyses of Moroy drill core are completed at the Bachelor Mine assay laboratory. The Company employs an industry standard QAQC program that includes duplicate analyses from pulp and coarse rejects and the use of Certified Reference Materials (CRM) and blanks. Check assays on a minimum of 10% of the samples are completed at ALS Laboratories in Val D'Or.
Jamie Lavigne, P.Geo and VP Exploration for the Company has approved the information contained in this release. Mr. Lavigne is a Qualified Person as defined by NI43-101.
For further information on Bonterra, contact Allan Folk
Telephone: (819) 825-8678
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.
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Cautionary and Forward-Looking Statements
This press release contains "forward-looking information" that is based on Bonterra's current expectations. 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.
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