Proactiveinvestors USA & Canada Bonterra Resources https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Bonterra Resources RSS feed en Tue, 22 Jan 2019 07:53:00 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Bonterra Resources eyeing resource estimate for all Urban Barry exploration assets ]]> https://ca.proactiveinvestors.com/companies/news/212989/bonterra-resources-eyeing-resource-estimate-for-all-urban-barry-exploration-assets-212989.html Bonterra Resources Inc (CVE:BTR) told investors it will put out a company-wide NI 43-101 mineral resource estimate for all its Urban Barry exploration assets in Canada, including the Gladiator, Barry and Moroy deposits, as it gave further drill assays.

The company hit 12.4 grams per tonne (g/t) gold over 5.3 metres from its recently discovered Titan Extension of the Gladiator deposit, it said in a corporate update.

READ THE BIG PICTURE: Bonterra Resources is rapidly advancing an attractive-looking gold portfolio in Québec

The resource estimate is part of Bonterra's strategy to fast track the development of these three deposits simultaneously, to optimize feed to the Urban Barry Mill.

Thus, the Vancouver-based firm's mining operations in Quebec will be placed on care and maintenance.

Drilling this year at Gladiator will be focused on resource expansion along strike and at depth as well as infilling high-grade chutes of the main deposit below 400m depth to further prove the continuity of these new zones, the firm said.

Bonterra said these new extensions at Gladiator should be incorporated into the resource as much as possible, given that it has only recently gained full access to drill these areas via the Duke option.

"Bonterra is actively working with its independent resource consultants to best utilize the early 2019 drill programs for increasing indicated vs inferred mineral resources which are required for potential economic, feasibility and mine planning studies," the company said in a statement, adding it was looking forward to a productive and successful 2019.

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Mon, 21 Jan 2019 10:06:00 -0500 https://ca.proactiveinvestors.com/companies/news/212989/bonterra-resources-eyeing-resource-estimate-for-all-urban-barry-exploration-assets-212989.html
<![CDATA[News - Bonterra Resources is rapidly advancing an attractive-looking gold portfolio in Québec ]]> https://ca.proactiveinvestors.com/companies/news/211786/bonterra-resources-is-rapidly-advancing-an-attractive-looking-gold-portfolio-in-qubec-211786.html Bonterra Resources Inc (CVE:BTR) is a gold exploration company with assets in the Archean greenstone belts in the Canadian Shield.

The specific focus is on the Urban-Barry greenstone belt of northwestern Québec, and the prolific Cadillac-Larder break structure between Kirkland Lake and Virginiatown.

Control of three advanced assets, plus a mill

Bonterra controls three advanced high-grade gold deposits, Gladiator, Moroy, and Barry, as well as significant regional targets.

It also has 100% ownership of the Urban-Barry Mill, the only permitted gold mill in the region.

Urban Barry Mill set for expansion

The Urban Barry Mill is the only permitted mill in the region, with more than 15 high-grade gold deposits within a 110 km radius of the mill site. The mill is accessible by a paved highway with a network of logging roads linking the other properties in the area to feed the mill.

Bonterra plans to increase the production capacity of the Urban Barry mill from 1,200 tonnes per day to 2,400 tonnes per day.

The expansion is expected to be completed in 2019, allowing a shortened timeline to production for the Barry, Moroy and Gladiator deposits.

Barry deposit permitted for development

The Barry deposit is permitted for initial mine development access and bulk sampling, with decline and cross cut development currently underway. Recent drilling has resulted in the expansion of high-grade areas down plunge at each known strike extent.

Bonterra expects rapidly to increase the size of the Barry deposit over a one kilometre strike length, and especially at depth, given that very little drilling has previously taken place below 300 meters.

Resource estimate for the Moroy deposit likely in early 2019

The Moroy Deposit is a recent discovery at the Urban Barry Mill property with access via the Bachelor Lake mine. Current development consists of three sub-drifts and a series of raises, accessed from the 11th level at Bachelor Lake.  Exploration and development continue at the Moroy deposit with a mineral resource estimate planned to be completed early in 2019.

Mineralised trend at Gladiator now extended to over 4.5km

The Gladiator mineralized trend has been extended to over 4.5 km as a result of new drill results as well as new information gained through the Duke joint venture database. Drilling by Bonterra and by the previous owner of the Duke ground (Beaufield Resources Inc., now Osisko Mining Inc.) has resulted in Gladiator deposit extensions in both the east and west directions. 

Drill hole BRS-17-11 was completed in 2017 by Beaufield in proximity to the Beaufield/Bonterra claim boundary approximately two kilometres northeast of the known Gladiator deposit extent. This drill hole crossed into Bonterra claims at approximately 300 metres depth below surface and encountered a broadly altered and mineralized zone that was identical in characteristics to the Gladiator deposit, including the presence of visible gold. 

The hole was logged and sampled by Beaufield. However, it was not reported to Bonterra and it is unclear whether assays were obtained at the time. Since the Duke option deal was ratified with Beaufield, Bonterra has been able to retrieve the core and resample it resulting in an intersection of 7.7 grams per tonne over three metres. 

Additional holes obtained from the Duke database as well as new drilling completed by Bonterra have confirmed the extensions in both the east and west directions.  Bonterra is now drilling follow up holes in and near the Duke option southern boundaries as it is now earning in to 70% of this ground from Osisko Mining.

Bonterra is permitting in order to develop a decline and complete a bulk sample at the deposit over the next year. With significant exploration potential for expansion, drilling will continue at the deposit, which remains open in all directions.

Well-funded into 2019

In November 2018, Bonterra closed a brokered private placement for gross proceeds of nearly C$22mln. Sprott Capital Partners acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., Red Cloud Klondike Strike Inc., Canaccord Genuity Corp. and Haywood Securities Inc.

Bonterra issued just under 3.5mln common shares on a flow-through basis at a price of C$3.80 per and just under 2.7mln shares on a non-flow-through basis at a price of C$3.30 per NFT share.

 

 

 

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Sat, 29 Dec 2018 12:38:00 -0500 https://ca.proactiveinvestors.com/companies/news/211786/bonterra-resources-is-rapidly-advancing-an-attractive-looking-gold-portfolio-in-qubec-211786.html
<![CDATA[News - Bonterra Resources continues to expand Gladiator gold deposit with recent drill assays ]]> https://ca.proactiveinvestors.com/companies/news/210681/bonterra-resources-continues-to-expand-gladiator-gold-deposit-with-recent-drill-assays-210681.html Mining group Bonterra Resources Inc (CVE:BTR) has unveiled positive drilling results, which continue to show the potential to expand its Gladiator deposit in Quebec.

The firm is carrying out resource development work at the site in the Urban Barry camp ahead of a resource estimate.

READ: Bonterra Resources fast-tracking to become one of Canada’s next 200,000 ounce-per-year producers

Highlight intersections included 11.4 grams per tonne (g/t) gold over 2.5 metres north of the deposit.

Also found was an intersection of 7.3m (meters) at 13.7 g/t of the yellow metal.

Bonterra noted that exploration drilling was now focused on extending the deposit onto the Duke optioned property as the firm is now earning 70% of this ground from Osisko Mining (TSE:OSK).

Significantly, multiple new high-grade intersections have been uncovered north of the deposit, extending the width of the deposit up to 300m (meters) to the north.

Another hole hit multiple high-grade structures north of the deposit onto the Duke property, including 4.8 g/t gold over 3.8m.

This exploration hole discovered five distinct gold zones north of the Gladiator deposit.

A further hole intersected multiple new structures in the Rivage area, including 10.6 g/t gold over 1.4 m, extending mineralization more than 100m to the southwest.

Bonterra is consolidating its assets in the Urban-Barry greenstone area in Quebec in a bid to fast-track its exciting pipeline of assets towards 200,000 ounces of production a year.

PI Financial reckons the company is primed to be one of Canada's leading development stories.

In a note last month, it said the recent acquisition of Metanor Resources was advantageous, providing it with a permitted and scalable 800tpd (tonnes per day) mill, which is amenable to processing ore from the high-grade development projects of Gladiator, Barry and Moroy.

Contact Giles Gwinnett at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Thu, 06 Dec 2018 08:01:00 -0500 https://ca.proactiveinvestors.com/companies/news/210681/bonterra-resources-continues-to-expand-gladiator-gold-deposit-with-recent-drill-assays-210681.html
<![CDATA[News - Bonterra Resources fast-tracking to become one of Canada’s next 200,000 ounce-per-year producers ]]> https://ca.proactiveinvestors.com/companies/news/209781/bonterra-resources-fast-tracking-to-become-one-of-canadas-next-200000-ounce-per-year-producers-209781.html Gold explorer Bonterra Resources Inc (CVE:BTR) is primed to be one of Canada's leading development stories, reckons PI Financial, which has started coverage on the shares with a 'buy' rating.

The company is consolidating its assets in the Urban-Barry greenstone area in mining friendly Quebec in a bid to fast-track its exciting pipeline of assets towards 200,000 ounces of production a year, notes analyst Phil Ker.

Advantageous deal

Its recent acquisition of Metanor Resources was advantageous, providing it with a permitted and scalable 800tpd (tonnes per day) mill, which is amenable to processing ore from the high-grade development projects of Gladiator, Barry and Moroy.

Notably, the Gladiator and Barry deposits are on contiguous land claims, solidifying Bonterra's grip on the area.

"... we anticipate Bonterra to deliver an attractive high-grade updated resource for Gladiator amassing 1.35Moz at 8.5g/t gold," says Ker.

"This pipeline project in combination with the recently acquired assets from Metanor (Barry & Bachelor) provide significant growth opportunities along with a permitted and scalable mill that could accommodate simultaneous ore feed from all 3 deposits (Bachelor, Barry & Gladiator)," he notes.

An updated resource is also expected for the firm's Barry deposit, which should add a further 400,000 ounces at around 7g/t (grams per ton) gold to Bonterra’s resource base.

Ongoing exploration across the belt

In addition, with on-going exploration across the belt, Bonterra is expected to deliver further infill and step-out drilling results.

"In the near term, we anticipate underground development to continue at Barry with a goal of achieving commercial production in  2019."

Meanwhile, at Bachelor, under Metanor’s stewardship, the firm had been operating at its Bachelor Lake mine at a run rate of around 25,000 ounces a year.

Bonterra will now shift the focus here, says Ker, placing the mine on care and maintenance and injecting capital towards underground development at Barry and also development at the Moroy trend, which is an emerging high-grade opportunity with access to Bachelor underground infrastructure.

Undervalued versus peers

Bonterra as a company is also undervalued versus its peers, reckons PI Financial.

"When considering other high-grade development projects, we believe grade remains king," says analyst Ker.

"Given the attractive drill results outlined to date supporting our resource grade estimate at Gladiator of 8.5g/t, we believe Bonterra deserves a premium valuation.."

"Additionally, the true value of a permitted mill separates Bonterra from other developers and is a considerable advantage over other developers who need to seek toll milling agreements, pursue the lengthy process of permitting a new facility and seek sufficient capital to build or acquire an adequate facility."

The company currently trades at US$55 per ounce on an EV (enterprise value per ounce) metric versus a peer group average of US$49 per ounce and 0.5x times' on PI Finacial's NAVPS (net asset value per share) estimate.

"Considering the trio of assets primed for advancement located in a favorable mining jurisdiction (Quebec) where a minimal number of around 200,000oz/yr operations exist, we believe a valuation towards our 1.0x NAVPS multiple will be justified as upcoming deliverables demonstrate the opportunity emerging at Bonterra," says the analyst.

The group has initiating coverage of Bonterra with a 'buy' rating and a target price of $6.00 per share, which is almost double where they stand today at $3.06 each.

Contact Giles Gwinnett at giles@proactiveinvestors.com

Follow Giles on Twitter @Gile74

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Thu, 22 Nov 2018 09:54:00 -0500 https://ca.proactiveinvestors.com/companies/news/209781/bonterra-resources-fast-tracking-to-become-one-of-canadas-next-200000-ounce-per-year-producers-209781.html
<![CDATA[News - Bonterra Resources extends drilling to 4.5 kilometers at Gladiator gold deposit in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/209615/bonterra-resources-extends-drilling-to-45-kilometers-at-gladiator-gold-deposit-in-quebec-209615.html Mining group Bonterra Resources Inc (CVE:BTR) said Tuesday that it has extended drilling to more than 4.5 kilometers at the Gladiator gold deposit in Quebec’s Urban Barry camp.

Drilling by Bonterra and the previous owner of what is known as the Duke property led to deposit extensions heading east and west, the Vancouver-based miner said in a press release.

READ: Bonterra Resources set to earn 70% stake in Duke property in Quebec

Since Bonterra exercised its option to buy a 70% stake in the Duke property from Beaufield Resources (now Osisko Mining Inc), it said it has realized an intersection of 7.7 grams per ton over 3 meters.

“Bonterra is consistently demonstrating the potential of gold discoveries on its land package in the Urban Barry camp,” CEO Nav Dhaliwal said in a statement. “The full potential of the Gladiator deposit and area can now be fully realized utilizing the complete land package consisting of the Duke option together with the original Bonterra lands.”

Shares of Bonterra eased 0.33% to C$3.06 in Canadian trading,

Contact Dennis Fitzgerald at dennis@proaciveinvestors.com 

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Tue, 20 Nov 2018 13:36:00 -0500 https://ca.proactiveinvestors.com/companies/news/209615/bonterra-resources-extends-drilling-to-45-kilometers-at-gladiator-gold-deposit-in-quebec-209615.html
<![CDATA[News - Bonterra Resources closes $21.8 million private placing ]]> https://ca.proactiveinvestors.com/companies/news/208871/bonterra-resources-closes-218-million-private-placing-208871.html Bonterra Resources (CVE:BTR, OTCQX:BONXF) has closed its previously announced placing for gross proceeds of around $21.8 million

Bonterra issued over 3.4 million shares on a flow-through basis at a price of $3.80 per FT share and over 2.6 million shares on a non-flow-through basis (NFT shares) at a price of $3.30 per NFT share.

READ: Bonterra Resources to speed up development of mining deposits and Urban Barry Mill

Sprott Capital Partners acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp., Red Cloud Klondike Strike Inc, Canaccord Genuity Corp. and Haywood Securities Inc.

The gross proceeds from the issuance the FT Shares will be used for Canadian exploration expenses and will qualify as "flow-through mining expenditures", the firm said.

Bonterra also today announced a non-brokered private placing of FT Shares and non-FT shares on the same terms as the offering to raise proceeds of up to $500,000.

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Thu, 08 Nov 2018 14:02:00 -0500 https://ca.proactiveinvestors.com/companies/news/208871/bonterra-resources-closes-218-million-private-placing-208871.html
<![CDATA[News - Bonterra Resources increases placing to $21.8 million ]]> https://ca.proactiveinvestors.com/companies/news/207787/bonterra-resources-increases-placing-to-218-million-207787.html Bonterra Resources (CVE:BTR, OTCQX:BONXF) revealed it has increased its previously announced financing to $21.8 million from $20 million previously.

Sprott Capital Partners is acting as lead agent on the financing. As reported, before closing the offering, Bonterra will consolidate its shares on the basis of 10:1, namely ten existing shares for one new share.

READ: Bonterra Resources set for $20mln placing and share consolidation

When completed, the company is expected to have around 39.7 million shares outstanding.

The placing will now consist of up to 3,443,500 shares issued on a flow-through basis  (FT shares) at $3.80 each, and up to 2,646,000 shares issued on a non-flow-through basis (NFT shares) at $3.30 each.

The offering is currently expected to close on November 8 this year or such other date or dates as the company and the lead agent may agree.

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Wed, 24 Oct 2018 15:04:00 -0400 https://ca.proactiveinvestors.com/companies/news/207787/bonterra-resources-increases-placing-to-218-million-207787.html
<![CDATA[News - Bonterra Resources set for $20mln placing and share consolidation ]]> https://ca.proactiveinvestors.com/companies/news/207204/bonterra-resources-set-for-20mln-placing-and-share-consolidation-207204.html Bonterra Resources Inc (TSX-V:BTR, OTCQX:BONXF) announced a $20 million placing and a share consolidation.

Sprott Capital Partners will act as lead agent on the financing, which is to raise gross proceeds  of up to $20,000,130.

Before closing the offering, Bonterra will consolidate its shares on the basis of 10:1, namely ten existing  shares for one new share.

When completed, the company is expected to have around 39.7 million shares outstanding.

The placing will consist of up to 1,973,700 shares issued on a flow-through basis  (FT shares) at $3.80 each, and up to 3,787,900 shares issued on a non-flow-through basis (NFT shares) at $3.30 each.

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Tue, 16 Oct 2018 10:16:00 -0400 https://ca.proactiveinvestors.com/companies/news/207204/bonterra-resources-set-for-20mln-placing-and-share-consolidation-207204.html
<![CDATA[News - Bonterra Resources to speed up development of mining deposits and Urban Barry Mill ]]> https://ca.proactiveinvestors.com/companies/news/206821/bonterra-resources-to-speed-up-development-of-mining-deposits-and-urban-barry-mill-206821.html Bonterra Resources Inc (TSX-V:BTR, OTCQX:BONXF) said Wednesday it intends to accelerate development of the Gladiator, Moroy and Barry deposits while expanding the capacity of the Urban Barry Mill in Quebec, Canada.

The latter is the only permitted mill in the region, with more than 15 high-grade gold deposits within a 110 kilometer radius of the mill site.

Bonterra said it will undertake a mill expansion project in order to increase the production capacity from 1,200 tonnes per day (tpd) to 2,400 tpd.

This is expected to be completed in 2019, allowing a shortened timeline to production for the Barry, Moroy and Gladiator deposits.

READ: Bonterra Resources finds new high grade gold zone north of Gladiator; shareholders approve Metanor deal

Recent drilling in the Barry Deposit has resulted in the expansion of high-grade areas. Bonterra expects to rapidly increase the size of the Barry Deposit especially at depth, given that very little drilling has previously taken place below 300 meters depth over a one kilometer strike length. An updated mineral resource estimate is expected for for the fourth quarter of 2018.

The Moroy Deposit is a recent discovery at the Urban Barry Mill property with access via the Bachelor Lake Mine.

Current development consists of three sub-drifts and a series of raises, accessed from the 11th level at Bachelor Lake. 

Exploration and development continue at the Moroy deposit with a mineral resource estimate planned to be completed early in 2019.

READ: Bonterra Resources updates on Kirkland Lake Gold's share interest

Bonterra will update the mineral resource estimate at the Gladiator deposit over the next month.

The company is initiating permitting in order to develop a decline and complete a bulk sample at the deposit over the next year. With significant exploration potential for expansion, drilling will continue at the deposit, which remains open in all directions.

Bonterra recently discovered a new high-grade gold zone 200 meters to the north of the deposit. The recent option agreement with Beaufield Resources on the Duke property has allowed for larger step out drilling at the deposit. Other showings and mineralized zones are also being prioritized for drilling.

Bonterra shares in Canada were trading steady at C$0.355 by midsession on Wednesday.

Bonterra Resources is a Canadian gold exploration company which is based in Vancouver, Canada.

Reporting by Rene Pastor, contactable at rene.pastor@proactiveinvestors.com

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Wed, 10 Oct 2018 13:31:00 -0400 https://ca.proactiveinvestors.com/companies/news/206821/bonterra-resources-to-speed-up-development-of-mining-deposits-and-urban-barry-mill-206821.html
<![CDATA[News - Bonterra Resources says Gatling poised to list on Toronto venture exchange next week ]]> https://ca.proactiveinvestors.com/companies/news/206406/bonterra-resources-says-gatling-poised-to-list-on-toronto-venture-exchange-next-week-206406.html Bonterra Resources Inc (CVE:BTR) said Gatling expects to start trading on the TSX-V (venture exchange) under the symbol GTR next week after receiving conditional approval from the exchange.

The listing of Gatling follows the closing last month of the plan of arrangement between Bonterra Minerals Inc (CVE:BTR) and Metanor Resources Inc.

The Gatling management team will use its broad base of exploration experience to focus exploration efforts on the Larder Lake  property.

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Thu, 04 Oct 2018 09:46:00 -0400 https://ca.proactiveinvestors.com/companies/news/206406/bonterra-resources-says-gatling-poised-to-list-on-toronto-venture-exchange-next-week-206406.html
<![CDATA[News - Bonterra Resources shares pump up on latest Gladiator drill assays ]]> https://ca.proactiveinvestors.com/companies/news/206109/bonterra-resources-shares-pump-up-on-latest-gladiator-drill-assays-206109.html Bonterra Resources (CVE:BTR) shares advanced as it revealed latest drill assays from its  Gladiator deposit in Quebec, which included 37.5 grams per tonne (g/t) gold over 3.3 metres at the south zone.

Recent definition drilling results have shown the continuity of mineralisation in multiple zones, the resource group said.

Another intersection at the so-called main zone showed 9.1 g/t of the yellow metal over 1.0 m and 8.9 g/t gold over 1.0 m. Another hole hit the Footwall, Main and South zones, which showed the continuity of gold-bearing quartz veins across multiple zones. At the north zone, a hole showed 11.9 g/t gold over 2m and extended the Main zone down plunge with 11.3 g/t gold over 1.6 m.

READ: Bonterra Resources completes spin-out of Gatling and Metanor transaction

"The continuing resource development programme continues to expand and define the Gladiator gold deposit ahead of the updated mineral resource estimate scheduled for the fourth quarter of 2018," Bonterra said Monday in a brief stock market statement

"Drilling to be included in the upcoming mineral resource estimate has now been completed. Drilling continues with three drills at the deposit focused on extension drilling along strike to the northeast and southwest."

Last month Bonterra said it had uncovered a new high-grade gold zone near its Gladiator gold deposit.

The new zone is near the surface and just around 200m north of the most northerly Gladiator zone.

It was found by hole BA-18-60, which hit 27.4 g/t (grams per ton) of the yellow metal over 7m.

The intersection occurred between 96m and 103m downhole and contained numerous fine specks of visible gold within smoky quartz veining with pyrite and minor sphalerite mineralization, typical of the Gladiator deposit.

The hole also hit the main zone at 600 m below the surface with 14.8 g/t gold over 7m.

Shares in Toronto gained 7.35% to $0.365.

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Mon, 01 Oct 2018 09:37:00 -0400 https://ca.proactiveinvestors.com/companies/news/206109/bonterra-resources-shares-pump-up-on-latest-gladiator-drill-assays-206109.html
<![CDATA[News - Bonterra Resources updates on Kirkland Lake Gold's share interest ]]> https://ca.proactiveinvestors.com/companies/news/206013/bonterra-resources-updates-on-kirkland-lake-gold-s-share-interest-206013.html Bonterra Resources Inc (CVE:BTR) revealed that Kirkland Gold Ltd (TSE:KL) now holds a total of around 37.5mln shares in the firm following the major transaction of Metanor Resources Inc.

It also holds over 6.1 million share purchase warrants, exercisable to acquire a further 9.8 million Bonterra shares. That represents a 9.44% interest in Bonterra on an undiluted basis and an 11.63% interest on a partially diluted basis, assuming the exercise of the warrants.

Earlier this week, Bonterra told investors it had completed the spin-out of Gatling Exploration and the major transaction of Metanor Resources Inc.

Bonterra Resources are unchanged at C$0.36 on Friday.

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Fri, 28 Sep 2018 12:03:00 -0400 https://ca.proactiveinvestors.com/companies/news/206013/bonterra-resources-updates-on-kirkland-lake-gold-s-share-interest-206013.html
<![CDATA[News - Bonterra Resources completes spin-out of Gatling and Metanor transaction ]]> https://ca.proactiveinvestors.com/companies/news/205678/bonterra-resources-completes-spin-out-of-gatling-and-metanor-transaction-205678.html Bonterra Resources Inc (CVE:BTR) told investors it had completed the spin-out of Gatling Exploration and the major transaction of Metanor Resources Inc.

The Gatling deal was approved by final order of the Supreme Court of British Columbia on September 20 this year and the plan of arrangement was completed on September 24.

The Metanor plan of arrangement was also completed on September 24, immediately following completion of the Gatling arrangement, and has resulted in the company acquiring all of the issued and outstanding shares of Metanor in exchange for the company issuing to Metanor shareholders 1.6039 common shares of Bonterra for each Metanor share.

Shares in Bonterra are down 3.8% to $0.38 in Toronto.

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Tue, 25 Sep 2018 12:36:00 -0400 https://ca.proactiveinvestors.com/companies/news/205678/bonterra-resources-completes-spin-out-of-gatling-and-metanor-transaction-205678.html
<![CDATA[News - Bonterra Resources receives court approval for spin-off ]]> https://ca.proactiveinvestors.com/companies/news/205460/bonterra-resources-receives-court-approval-for-spin-off-205460.html Bonterra Resources Inc (CVE:BTR) has received the final court approval for its so-called Bonterra arrangement.

The agreement involves the spinning out of certain assets of Bonterra to Gatling Exploration Inc, and was approved at a special meeting earlier this week.

Meanwhile, shareholder of Metanor Resources Inc also approved a plan of arrangement at a special meeting of the Metanor securityholders held earlier this week, it said.

Both arrangements remain subject to final approval by the TSX Venture Exchange and are expected to close on September 24 this year.

The Bonterra arrangement will be completed first, followed immediately by the Metanor arrangement.

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Fri, 21 Sep 2018 09:53:00 -0400 https://ca.proactiveinvestors.com/companies/news/205460/bonterra-resources-receives-court-approval-for-spin-off-205460.html
<![CDATA[Media files - Bonterra Resources makes major acquisition that will aid flagship Gladiator Project ]]> https://ca.proactiveinvestors.com/companies/stocktube/10529/bonterra-resources-makes-major-acquisition-that-will-aid-flagship-gladiator-project-10529.html Wed, 19 Sep 2018 10:13:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/10529/bonterra-resources-makes-major-acquisition-that-will-aid-flagship-gladiator-project-10529.html <![CDATA[News - Bonterra Resources finds new high grade gold zone north of Gladiator; shareholders approve Metanor deal ]]> https://ca.proactiveinvestors.com/companies/news/205234/bonterra-resources-finds-new-high-grade-gold-zone-north-of-gladiator-shareholders-approve-metanor-deal-205234.html Bonterra Resources Inc (CVE:BNE) was back in the news Wednesday -  as it revealed it had uncovered a new high-grade gold zone near its Gladiator gold deposit in Quebec.

The new zone is near surface and just around 200m north of the most northerly Gladiator zone.

It was found by hole BA-18-60, which hit 27.4 g/t (grams per ton) of the yellow metal over 7m.

The intersection occurred between 96m and 103m downhole and contained numerous fine specks of visible gold within smoky quartz veining with pyrite and minor sphalerite mineralization, typical of the Gladiator deposit, the firm said.

The hole also intersected the main zone at 600 m below surface with 14.8 g/t gold over 7m.

Follow-up holes are continuing to validate continuity of mineralization.

"Our geological model continues to produce results with this new high-grade zone that appears to project nicely from our established pattern of veining within the multizone Gladiator deposit," said Nav Dhaliwal, president and chief executive at Bonterra.

"Our recent option to earn interest in the Duke claims has allowed us to now step out northeast and southwest with drilling in order to locate new parallel zones.

"We are extremely encouraged with our first results in stepping away from the Gladiator to the northeast and look forward to extending the new zone further."

As reported on Monday this week, as Bonterra posted a decent set of latest drill results from the property, all drilling, which is to be included in a new NI 43 101 resource estimate, earmarked for the fourth quarter this year, has now been completed.

Drilling continues with three drills at the deposit focused on extension drilling along strike to the northeast and southwest.

Separately today, Bonterra also revealed that its merger with Metanor Resources Inc (the Metanor arrangement) was approved by shareholders.

The Bonterra arrangement, which involves spinning out of certain assets of Bonterra to Gatling Exploration Inc, was also approved by Bonterra shareholders.

Completion of both arrangements is expected to occur on September 24 this year.

Gatling shall receive Bonterra's Larder Lake assets in Ontario and approximately C$7mln in cash.

In July this year, Bonterra entered a definitive agreement to combine with Metanor  to create a new advanced Canadian gold explorer in a deal valued at C$78mln.

The new group will focus on building out and future mining at the Urban Barry Quebec gold camp.

Among the highlights, the deal provides Bonterra with a clear pathway to bringing Bonterra’s Gladiator deposit into production and  consolidates the entire southern portion of the Urban Barry camp, when combined with its recently executed option with Beaufield.

Bonterra shares today advanced 5.56% to C$0.475.

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Wed, 19 Sep 2018 09:02:00 -0400 https://ca.proactiveinvestors.com/companies/news/205234/bonterra-resources-finds-new-high-grade-gold-zone-north-of-gladiator-shareholders-approve-metanor-deal-205234.html
<![CDATA[News - Bonterra Resources continuing to find high grade trends at Gladiator deposit: new resource due in fourth quarter ]]> https://ca.proactiveinvestors.com/companies/news/205038/bonterra-resources-continuing-to-find-high-grade-trends-at-gladiator-deposit-new-resource-due-in-fourth-quarter-205038.html Bonterra Resources Inc (CVE:BNE) has posted a decent set of latest drill results from its  Gladiator gold deposit in Quebec.

All the drilling to be included in a new NI 43 101 resource estimate, earmarked for the fourth quarter this year, has now been completed.

The Gladiator project remains open in all directions, and where at least six distinct sub-parallel zones or mineralised horizons have been identified.

READ: Bonterra Resources e nters definitive agreement on Metanor merger

Most notably, one hole hit intersected multiple high-grade gold zones including 29.6 g/t (grams per ton) of the yellow metal over 3m at the South Zone, indicating the presence of a new high-grade chute, expanding the known extents of mineralization and opening the South Zone at depth.

The same hole hit multiple structures in the North Zone with 6.5 g/t gold over 2m and 4 g/t gold over 3m.

Another hole further defined the North Zone with 9.4 g/t gold over 3m. This intersection increases the grade and indicates the continuity of the North Zone in the eastern part of the deposit.

READ: Bonterra Resources continues to expand exciting Gladiator deposit in Quebec

A further hole intersected the South Zone at 600m (meters) below the surface with 12.3 g/t (grams per ton) gold over 1.5 m, connecting the mineralization at the Rivage area to a high-grade chute at depth.

So far, continuity of mineralization is now confirmed over a total drilled strike length on at least four horizons (North, Footwall, Main and South) of 1,300m (meters), as well as a drilled depth of over 1,000m.

Drilling continues with three drills focused on extension drilling along strike to the northeast and southwest, Bonterra said.

Shares in Toronto added almost 5% to C$0.44.

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Mon, 17 Sep 2018 09:21:00 -0400 https://ca.proactiveinvestors.com/companies/news/205038/bonterra-resources-continuing-to-find-high-grade-trends-at-gladiator-deposit-new-resource-due-in-fourth-quarter-205038.html
<![CDATA[News - Bonterra Resources enters definitive agreement on Metanor merger ]]> https://ca.proactiveinvestors.com/companies/news/201365/bonterra-resources-enters-definitive-agreement-on-metanor-merger-201365.html Bonterra Resources Inc (CVE:BTR) has now entered a definitive agreement to combine with Metanor Resources to create a new advanced Canadian gold explorer in a deal valued at C$78mln.

The new group will focus on building out and future mining at the Urban Barry Quebec gold camp.

Among the highlights, the deal provides Bonterra with a clear pathway to bringing Bonterra’s Gladiator deposit into production and  consolidates the entire southern portion of the Urban Barry camp, when combined with its recently executed option with Beaufield.

It also places Bonterra as one of the largest landholders in the region.

Bonterra's  NI 43-101 resource for the Gladiator gold deposit remains on schedule for the second half of 2018, while Metanor's mill infrastructure provides the firm with the opportunity to significantly reduce the capital requirements and timelines to advance Gladiator into potential production.

The pro forma company will have around C$32mln in cash on hand, after a spinout, to further advance the Gladiator project to production, and increase production at Bachelor and Barry.

On June 18, when the deal was announced, Nav Dhaliwal,  the president and chief executive of Bonterra, said: "Bonterra has been an extremely successful exploration company and must continue to evolve and participate in growth opportunities.

"We have quickly and efficiently discovered and developed the Gladiator deposit over the past two years, and now look to put our exploration skills and experience to work on the larger combined land package.

"We believe we will be able to develop a much larger and more significant resource profile within the Urban Barry camp. The availability and ownership of a permitted and expandable processing facility certainly places Bonterra in an excellent position to rapidly and cost-effectively become a significant Quebec-based gold producer."

Under the terms of the letter of intent, Bonterra will acquire all of the issued and outstanding common shares of Metanor for C$0.73 cents in equity consideration per share, at an exchange ratio of 1.6039 Bonterra shares for each Metanor share. This represents an aggregate transaction value of C$78-million on a fully diluted basis.

The purchase price represents a 40% premium to the volume weighted average price of Metanor's common shares on the TSX Venture Exchange on June 15, 2018, and a premium of 30% to the closing price as of such date.

Upon completion of the transaction, existing Bonterra and Metanor shareholders will own approximately 58% and 42% per cent of the pro forma company, respectively.

Immediately prior to the completion of the proposed transaction, Bonterra will complete the spinout of its Larder Lake project in Ontario to current shareholders of Bonterra in order to create a new exploration company called Spinco, which is focused on the growth of this multi-deposit, high-grade project.

The transaction is expected to be completed in the third quarter of 2018 and is subject to shareholder approval.

Bonterra shares nudged up 2.63% in Toronto to C$0.39.

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Mon, 23 Jul 2018 13:38:00 -0400 https://ca.proactiveinvestors.com/companies/news/201365/bonterra-resources-enters-definitive-agreement-on-metanor-merger-201365.html
<![CDATA[News - Bonterra Resources continues to expand exciting Gladiator deposit in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/200966/bonterra-resources-continues-to-expand-exciting-gladiator-deposit-in-quebec-200966.html Bonterra Resources (CVE:BNE) revealed the Gladiator gold deposit in Quebec continued to show off its credentials as it reported on latest drill results.

An updated resource estimate is earmarked for the fourth quarter this year.

Infill and extension drilling continues to demonstrate the continuity of the deposit, and a recent highlight assay was  15.3 g/t (grams per ton) gold over 2.7 m (meters) in one hole.

This increases the Footwall Zone considerably in both size and grade, expanding the potential down plunge, the company said.

Four horizons

Mineralisation has now been confirmed over a total drilled strike length on at least four horizons - North, Footwall, Main and South of 1,200 m, as well as a drilled depth of over 1,000m.

Meanwhile, another step-out hole hit the Footwall zone with 9.1 g/t of the yellow metal over 2m, which expanded the mineralization westwards in the Rivage area.

Another sunk at what’s called the North Zone in the Rivage area hit 12.2 g/t gold over 1.5 m, extending the depth, and opened up new high-grade mineralization down plunge to 300m below surface.

Finally, another hole hit the North Zone and expanded the high-grade chute up plunge towards surface in the east side of the deposit with 12.6 g/t gold over 1.3 m.

Bonterra told investors: "Positive results from step out drilling in both the Rivage and eastern areas of the deposit continue to indicate the potential for further expansion of the Gladiator deposit along defined high-grade chutes and highlights the predictability of the geological model."

Validates geological model

The firm alse said infill work had "validated" the geological model and demonstrated the continuity of mineralization.

The program continues with five drills at the deposit in preparation for the updated resource estimate in the fourth quarter of 2018.

Only last week, the junior explorer released more encouraging drilling results from Gladiator.

Highlights included an intersection of 30.5 grams per ton (g/t) gold over 2 metres (m).

Shares added 0.44% to C$18.15.

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Tue, 17 Jul 2018 09:32:00 -0400 https://ca.proactiveinvestors.com/companies/news/200966/bonterra-resources-continues-to-expand-exciting-gladiator-deposit-in-quebec-200966.html
<![CDATA[News - Bonterra Resources releases updated drilling results; extends zones at its Gladiator gold project ]]> https://ca.proactiveinvestors.com/companies/news/200613/bonterra-resources-releases-updated-drilling-results-extends-zones-at-its-gladiator-gold-project-200613.html Bright news from Bonterra Resources Inc (CVE:BTR) today, after the junior explorer released encouraging drilling results at its Gladiator gold project in Quebec.

Highlights of the drill results included an intersection of 30.5 grams per ton (g/t) gold over 2.0 metres (m), the company said, which increases the down-plunge size of the south zone high-grade extent. 

"The resource development program continues to be extremely successful in terms of the extension of mineralized zones and in terms of demonstrating high grades throughout. Most significantly, however, is how well we have shown continuity downdip and along strike for all five of the primary zones to date," said president and chief executive officer, Nav Dhaliwal.

"High grades that were encountered on both the west side of the deposit and the down plunge of the east side are obviously significant to the deposit as a whole." 

WATCH: 'Big year' expected for Bonterra Resources, with exploration well funded through 2018

Other highlights included hole BA-18-43, which extends the north zone in the east side of the deposit with 11.4 g/t gold over 1.0m. The hole was drilled as a follow-up to BA-18-36, which intersected 8.4 g/t gold over 3.0m. This expands the north zone 150m east at approximately 500m below surface. 

Another hole intersected the north zone in the west end Rivage area, extended the depth of known mineralization to 300m below surface with 6.3 g/t gold over 1.0m.

Infill hole BA-18-39 intersected both the main zone with 19.8 g/t gold over 1.5m and the south zone with 30.5 g/t gold with 2.0m. The company said this increases its confidence of the high-grade shoots between 350m and 400m below surface.

Updated mineral resource estimate expected in Q4 2018

According to the company, drilling results in both the Rivage area and eastern part of the deposit continue to extend the deposit. 

Bonterra said it will continue its aggressive resource development program with five drills at the deposit focused on infill and step out drilling in preparation for the updated mineral resource estimate in the fourth quarter of 2018.

Shares of Bonterra Resources were up 1.23% at C$0.41 on Wednesday. 

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Wed, 11 Jul 2018 11:54:00 -0400 https://ca.proactiveinvestors.com/companies/news/200613/bonterra-resources-releases-updated-drilling-results-extends-zones-at-its-gladiator-gold-project-200613.html
<![CDATA[News - Bonterra Resources set to earn 70% stake in Duke property, Quebec ]]> https://ca.proactiveinvestors.com/companies/news/200408/bonterra-resources-set-to-earn-70-stake-in-duke-property-quebec-200408.html Mining group Bonterra Resources Inc (CVE:BTR) has completed its option deal to acquire a 70% stake in what's known as the Duke property in Quebec, sending shares up a bit.

The agreement is with Toronto-listed Beaufield Resources Inc (CVE:BFD) and covers  81 mineral claims totalling 3,590 hectares in the Urban Barry Greenstone belt.

The claims lie immediately adjacent to the northern boundaries of the firm's Urban Barry properties, which contain the Gladiator deposit, where an NI 43-101 resource estimate is earmarked for the second half of 2018.

"We look forward to working with the Beaufield team in fully exploring the Duke lands with greatly enhanced benefits of shared experience and open claim boundaries, as well, the potential Gladiator Deposit extensions can now be efficiently defined and expanded," said Nav Dhaliwal, the president and chief executive at Bonterra.

"Upon completion of the recently announced acquisition of Metanor, Bonterra has not only cemented its hold on a number of developing new deposits in the region, it will also own the only operating and expandable mill in the Urban Barry camp."

Under the terms of the option, Bonterra can earn a 70% interest at Duke by issuing 4mln shares to Beaufield and paying the firm C$750,000 in equal amounts over three years and incurring a total of C$4.5mln in exploration over three years.

Upon completion, the companies will enter into a joint venture deal.

Late last month Bonterra announced plans to acquire emerging gold producer, Metanor Resources Ltd (CVE:MTO) in a transaction valued at C$78mln.

The goal is to create an advanced Canadian gold exploration and development company focused on becoming a leader in the building out and future mining development of the Urban Barry gold camp in Quebec.

Shares in Bonterra added 1.28% in Toronto to C$0.40.

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Mon, 09 Jul 2018 13:06:00 -0400 https://ca.proactiveinvestors.com/companies/news/200408/bonterra-resources-set-to-earn-70-stake-in-duke-property-quebec-200408.html
<![CDATA[News - Bonterra Resources to acquire Metanor Resources in C$78mln transaction ]]> https://ca.proactiveinvestors.com/companies/news/199084/bonterra-resources-to-acquire-metanor-resources-in-c78mln-transaction-199084.html Big news from Bonterra Resources Inc (CVE:BTR) today, as it announced plans to acquire emerging gold producer, Metanor Resources Ltd (CVE:MTO) in a transaction valued at C$78mln. 

Bonterra and Metanor entered into a binding letter of intent on June 17, 2018 and say the goal is to create an advanced Canadian gold exploration and development company focused on becoming a leader in the building out and future mining development of the Urban Barry gold camp in Quebec. 

"Bonterra has been an extremely successful exploration company and must continue to evolve and participate in growth opportunities. We have quickly and efficiently discovered and developed the Gladiator deposit over the past two years, and now look to put our exploration skills and experience to work on the larger combined land package," said Nav Dhaliwal, president and chief executive officer of Bonterra. 

"We believe we will be able to develop a much larger and more significant resource profile within the Urban Barry camp. The availability and ownership of a permitted and expandable processing facility certainly places Bonterra in an excellent position to rapidly and cost-effectively become a significant Quebec-based gold producer."

WATCH: 'Big year' expected for Bonterra Resources, with exploration well funded through 2018

Metanor Resources Inc. is an emerging gold producer its main assets, the Bachelor Mine and the Barry project, in addition to over 15,000 hectares of exploration property, located in the mining-friendly jurisdiction of Quebec in the heart of the Urban-Barry Camp.

Under the terms of the letter of intent, Bonterra will acquire all of the issued and outstanding common shares of Metanor for C$0.73 cents in equity consideration per share, at an exchange ratio of 1.6039 Bonterra shares for each Metanor share. This represents an aggregate transaction value of C$78-million on a fully diluted basis.

The purchase price represents a 40% premium to the volume weighted average price of Metanor's common shares on the TSX Venture Exchange on June 15, 2018, and a premium of 30% to the closing price as of such date.

Upon completion of the transaction, existing Bonterra and Metanor shareholders will own approximately 58% and 42% per cent of the pro forma company, respectively.

Bonterra to create spinout

"Putting together two, arguably undervalued, companies like Metanor and Bonterra is extremely beneficial and logical in a number of ways," said Greg Gibson, chairman and interim chief executive officer of Metanor.

"Resource growth, exploration synergies and derisking the path to production are all considerations, as well as potential to access different and larger markets and shareholders. I look forward to working with the Bonterra team, as the combined effort provides the opportunity to create significant shareholder value."

Immediately prior to the completion of the proposed transaction, Bonterra will complete the spinout of its Larder Lake project in Ontario to current shareholders of Bonterra in order to create a new exploration company called Spinco, which is focused on the growth of this multi-deposit, high-grade project. 

The transaction is expected to be completed in the third quarter of 2018 and is subject to shareholder approval. 

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Mon, 18 Jun 2018 18:26:00 -0400 https://ca.proactiveinvestors.com/companies/news/199084/bonterra-resources-to-acquire-metanor-resources-in-c78mln-transaction-199084.html
<![CDATA[Media files - 'Big year' expected for Bonterra Resources, with exploration well funded through 2018 ]]> https://ca.proactiveinvestors.com/companies/stocktube/9583/-big-year-expected-for-bonterra-resources-with-exploration-well-funded-through-2018-9583.html Thu, 14 Jun 2018 10:27:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9583/-big-year-expected-for-bonterra-resources-with-exploration-well-funded-through-2018-9583.html <![CDATA[News - Bonterra Resources rallies on high grade gold intercepts at Gladiator gold project ]]> https://ca.proactiveinvestors.com/companies/news/198816/bonterra-resources-rallies-on-high-grade-gold-intercepts-at-gladiator-gold-project-198816.html Bonterra Resources (CVE:BNE) saw its shares rise 8% on Wednesday after the junior explorer reported encouraging drilling results at its Gladiator gold project in Quebec.

Highlights of the drill results included an intersection of 44.9 g/t gold over 3.0 metres, at hole BA-18-34, the company said, which extended a high-grade ore shoot to the west, up-plunge in the Rivage Gap area.

"The resource development program continues to be extremely successful in terms of the extension of mineralized zones and in terms of demonstrating high grades throughout," said Nav Dhaliwal, president and chief executive officer of Bonterra.

"Most significantly, however, is how well we have shown continuity down dip and along strike for all five of the primary zones to date. The high grades encountered on the west side of the deposit and the down-plunge of the east side announced today are of obvious significance to the deposit as a whole."

Drilling campaign extends deposit

According to the company, results from the winter drilling campaign at the Gladiator gold project successfully extended the deposit both west and east, opening multiple zones for further expansion. 

Recent drilling in the west side of the deposit extended the north zone and now totals a strike length of approximately 1,300 metres. 

Other highlights included hole BA-11-36, which extended the North zone by about 150 m to the east, down-plunge of a defined ore shoot with 8.4 g/t gold over 3.0 metres; as well as holes BA-18-27A, BA-18-30 and BA-18-31, which intersected the main zone between 300 to 500 metres below surface, demonstrating the continuity of mineralization with 24.3 g/t gold over 5.0 metres in BA-18-30 and 9.6 g/t gold over 3.5 metres in BA-18-31.

Bonterra said it will continue its aggressive resource development program with five drills at the deposit focused on infill and step out drilling in preparation for the updated mineral resource estimate in the second half of 2018.

Shares of Bonterra Resources were up 8.24% at C$0.46 on Wednesday afternoon. 

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Wed, 13 Jun 2018 14:35:00 -0400 https://ca.proactiveinvestors.com/companies/news/198816/bonterra-resources-rallies-on-high-grade-gold-intercepts-at-gladiator-gold-project-198816.html
<![CDATA[News - BonTerra shares gain on release of inferred resource at Eastern Extension property ]]> https://ca.proactiveinvestors.com/companies/news/87010/bonterra-shares-gain-on-release-of-inferred-resource-at-eastern-extension-property-30463.html BonTerra Resources (CVE:BNE) shares rallied Wednesday after the company announced an NI 43-101 compliant inferred resource for its Eastern Extension property in Quebec.

The company defined the resource by spending roughly $3.5 million in under two years and drilling 13,919 metres of core, it said.

This resulted in an inferred gold resource of 4.34 million tonnes grading 3.53 grams per tonne (g/t), at a 1.0 g/t cut off, for 492,000 ounces of gold.

With a higher cutoff grade of 6.0 g/t, the property hosts an inferred gold resource of 249,000 ounces with an average grade of 9.94 g/t gold.

BonTerra also said it believes there is potential for expansion with further drilling, as the existing resource is open to the northeast, southwest and down dip.

The mineral resource estimate, done by Snowden Mining, includes the results of 12,543 metres of core drilling completed on the property in 2011.

BonTerra's Rivage Zone, where more than 5,900 metres of drilling has taken place this year, was not included in the estimate, which is constrained by geologic domains consisting of ten vein structures.

The company said it plans to file a complete technical report on SEDAR within 45 days.

The Urban-Barry gold camp hosts two other gold projects with NI 43-101 compliant resources, known as the Windfall Lake and the Barry deposit.

"BonTerra is very proud to have received such a great first ever resource estimate from Snowden for our gold property," said president Navjit Dhaliwal.

"It is not common for a junior company like BonTerra Resources to develop an asset of such high potential in such a short period of time.

"We feel this resource estimate completed by Snowden solidifies BonTerra as a leading junior gold explorer in Quebec's Abitibi Greenstone Belt. This also speaks volumes about the high quality of the Property as well as all of our team in Vancouver and Val d'Or."

The company said that highlights of its 2012 drilling at Rivage include 73.82 g/t gold over 3.0 metres in hole BA-12-10, which included 1.0 metre of 220.0 g/t gold.

This drill hole at the Rivage was collared around 120 metres from the Rivage discovery outcrop. A chip sample taken from this outcrop in the fall of 2011 assayed 204 g/t gold.

The Eastern Extension property is situated roughly 170 kilometres northeast of Val d'Or, Quebec in the Abitibi Greenstone Belt.

Shares of BonTerra rose more than 9 per cent Wednesday afternoon, to 12 cents.

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Wed, 13 Jun 2012 14:36:00 -0400 https://ca.proactiveinvestors.com/companies/news/87010/bonterra-shares-gain-on-release-of-inferred-resource-at-eastern-extension-property-30463.html
<![CDATA[News - BonTerra amends option deal for Eastern Extension property ]]> https://ca.proactiveinvestors.com/companies/news/84737/bonterra-amends-option-deal-for-eastern-extension-property-26643.html BonTerra Resources (CVE:BTR) said Wednesday it has inked an amended agreement with Abitex Resources to immediately acquire a 100 percent interest in the mineral claims in the Bailly and Barry Townships in Quebec, known as the Eastern Extension property.

In consideration for the 100 percent stake, BonTerra will issue 1.25 million shares.

The new deal amends the option agreement between the two parties from September 2010, and reduces the cash component of the consideration. Closing is subject to the approval of the TSX Venture Exchange.

The property is subject to a two percent net smelter returns royalty, one percent of which can be purchased for $500,000.

Under the original option agreement, BonTerra had the right to earn up to a 100 percent interest in exchange for making cash payments totaling $110,000, issuing a total of 1.35 million shares, and incurring a total of $750,000 in exploration expenses on the property over four years.

To date, BonTerrra has paid $10,000, issued 500,000 shares and incurred $750,000 in exploration expenses.

The amendments to the deal reduce the cash payment obligations by $100,000 and increase the share issuance obligations by 400,000 shares, BonTerra said.

"This is a rare opportunity for BonTerra to reduce the cash component of the option agreement for the Eastern Extension," said president Navjit Dhaliwal.

"It is always our goal to focus our expenditures on our ongoing drill program in Quebec rather than elsewhere due to the high quality of the Property.

"BonTerra management decided to rush the exercise of the option in order to own the Property outright subject to the NSR. This amendment to the agreement highlights the partnership and goodwill BonTerra has been developing with our neighbors in the Urban-Barry gold camp, in this case Abitex Resources."

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Wed, 21 Mar 2012 11:55:00 -0400 https://ca.proactiveinvestors.com/companies/news/84737/bonterra-amends-option-deal-for-eastern-extension-property-26643.html
<![CDATA[News - BonTerra Resources hits as high as 44.8 g/t gold at Eastern Extension in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/81588/bonterra-resources-hits-as-high-as-448-gt-gold-at-eastern-extension-in-quebec-21382.html BonTerra Resources (CVE:BTR) announced Monday results from three holes at its Eastern Extension property in Quebec, showing persistent gold mineralization in a series of quartz veins.

The highlight of these drill holes is BA-11-32, where two of the three distinct high grade mineralized veins host visible gold, the company said.

The best samples for these three vein systems range from 11.25 grams per tonne (g/t) gold over 1.0 metre in the upper most vein, 15.25 g/t over 1.00 metre in the middle vein and 44.80 g/t gold over 1.00 metre in the deepest vein.

BA-11-32 was drilled to validate gold mineralization at approximately 525 metres in vertical depth.

BonTerra is now awaiting the final lab samples from the 2011 drill campaign and is aggressively working on a new NI 43-101 compliant inferred resource estimate, it said.

The company is also waiting on a budget for the upcoming 2012 winter drill program, which will focus on the large magnetic high under Lac Barry, the Peninsula Zone discovered by hole BA-11-06.
To date, BonTerra has drilled four holes from the shore to hit this area.

"We invite shareholders and all interested to visit us in the core shack and view some of our core bearing high grade gold at the Quebec City Exploration Conference November 21-24," said president Mitchell Adam.

BonTerra has an option to earn 100 percent of the Eastern Extension property from Abitex Resources, subject to a two percent net smelter return.

The company has a total of three gold properties in the Urban-Barry belt: the Eastern Extension, Lavoie and Urban-Barry, which are located approximately 170 kilometres northeast of Val-d'Or and 125 kilometres southwest of Chibougamau in the Urban, Barry and Bailly townships in Québec.

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Mon, 21 Nov 2011 11:40:00 -0500 https://ca.proactiveinvestors.com/companies/news/81588/bonterra-resources-hits-as-high-as-448-gt-gold-at-eastern-extension-in-quebec-21382.html
<![CDATA[News - BonTerra's infill sampling results lead to wider gold intercepts at Eastern Extension, confirm continuity ]]> https://ca.proactiveinvestors.com/companies/news/81079/bonterras-infill-sampling-results-lead-to-wider-gold-intercepts-at-eastern-extension-confirm-continuity-20466.html BonTerra Resources (CVE:BTR) announced Wednesday results from its infill sampling program on its Eastern Extension property in Quebec, leading to wider gold intercepts than originally disclosed in the early days of the drill program.

The company said the infill program involved sampling selected veins and segments of drill holes not yet sampled, which has led to the discovery of wider gold intercepts than initially released by BonTerra since November 2010.

BonTerra is now targeting all veins due to gold being discovered in all vein types and not only the smoked quartz veins, as originally thought, it said. Additional results of the infill sampling and recently completed drill holes will be released as they become available.

Today, the company said that the intercept from hole BA-10-02, for example, which was initially released by the company in November last year, was widened from 7.73 metres wide to a zone 22 metres wide assaying 7.54 grams per tonne (g/t) of gold.

In hole BA-10-03, two high grade gold zones were discovered in 2010, but the lower zone has since expanded from six metres to 26 metres in width, grading 3.72 g/t gold. BA-10-08 saw one of its gold zone widen significantly from seven metres in length to 17.5 metres grading 6.24 g/t gold.

Meanwhile, the gold intercept from hole BAS-10-06, which was originally released by the company in February, widened from roughly ten metres to a whopping 75.5 metres, assaying 0.82 g/t gold.

In addition, though the original drill intercept in hole BA-10-01 was not changed, a second gold zone has been defined, with the hole returning 22.05 metres of 0.98 g/t gold, including 0.71 metres at 18.95 g/t gold. 

"It is great to see the infill sampling program pay off with expanded widths for some of our key gold intercepts in the early days of the drill program," said director Mitchell Adam.

BonTerra is a Canadian gold exploration company focused on expanding the known gold zone on its Eastern Extension property, part of the Abitibi Greenstone Belt of Quebec. BonTerra has a total of four properties in the Urban-Barry belt, all gold exploration targets.

The company's Eastern Extension, Lavoie, Urban-Barry and Anderson properties are located approximately 170 kilometres northeast of Val-d'Or and 125 kilometres southwest of Chibougamau in the Urban, Barry and Bailly townships in Québec.

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Wed, 02 Nov 2011 10:44:00 -0400 https://ca.proactiveinvestors.com/companies/news/81079/bonterras-infill-sampling-results-lead-to-wider-gold-intercepts-at-eastern-extension-confirm-continuity-20466.html
<![CDATA[News - BonTerra widens gold intercepts in previous hole at Eastern Extension ]]> https://ca.proactiveinvestors.com/companies/news/79715/bonterra-widens-gold-intercepts-in-previous-hole-at-eastern-extension-18177.html Vancouver-based junior explorer BonTerra Resources (CVE:BTR) said on Friday that infill drilling has widened pre-existing zones of high grade gold at its flagship Eastern Extension property.

The property rests in the Abitibi Greenstone Belt and is located just to the east of the Urban-Barry property, in Quebec.

The company said infill sampling on secondary vein systems and zones of interest in hole BA-10-08, for which original results were disclosed in January, has led to a wider gold intercept.

All of the infill samples have been included into the 3D model, BonTerra said, and are being added into the gold resource calculation.

The wider primary intercepts include 6.24 grams per tonne (g/t) gold at 17.50 metres and 16.75 g/t of gold at six metres. Additional intercepts from the hole returned 21.09 g/t of gold at 3 metres, 31.20 g/t of gold at one metre, as well as 30.50 g/t of gold at one metre.

The original intersections from the hole spanned lengths from one to seven metres.

Company president, Mitchell Adam, said: "Our infill sampling program is leading to BonTerra discovering gold not only in the smoky quartz veins but in the secondary veins too."

"BonTerra is enthusiastic this is paying dividends by widening pre-existing zones of high grade gold. Every mineralized vein has the potential to add to the number of ounces we are currently working toward defining in Quebec."

Drill BA-10-08 was first drilled to the west of the series of initial five drill holes. This was due to the "impressive presence", the company said, of three distinct parallel gold zones in the hole, which led BonTerra to drill further to the southwest still, where additional drill holes discovered further high grade gold in hole BA-11-06.

BonTerra named this new gold trap the Peninsula Zone.

The Vancouver-based mineral explorer mainly acquires and explores natural resource properties in North America. BonTerra has a total of four properties in the Urban-Barry belt, all gold exploration targets.

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Fri, 09 Sep 2011 14:37:00 -0400 https://ca.proactiveinvestors.com/companies/news/79715/bonterra-widens-gold-intercepts-in-previous-hole-at-eastern-extension-18177.html
<![CDATA[News - BonTerra rallies on high grade gold intercepts of over 100g/t at Eastern Extension ]]> https://ca.proactiveinvestors.com/companies/news/79637/bonterra-rallies-on-high-grade-gold-intercepts-of-over-100gt-at-eastern-extension-18046.html Canada's BonTerra Resources (CVE:BTR) saw its shares rise as high as 22% on Wednesday after the junior explorer reported extremely encouraging gold grades and widths on its Eastern Extension property northeast of Val d'Or, Quebec.

Results were received for four of eight drill holes at the site, with hole BA-11-29 arguably being the best hole drilled to date at the property, the company said.

According to BonTerra, within this drill hole, there are two distinct veins with numerous specks of visible gold observed in the geological log.

Significant intercepts from hole BA-11-29 included 15.3 metres of 14.85 g/t gold, including 11.3 metres of 20.10 g/t gold, 5.3 metres of 41.55 g/t gold, 2.5 metres of 88.10 g/t gold, and 0.70 metres of 129.00 g/t gold, and 114.00 g/t gold.

"We have intercepted numerous high grade zones with two samples assaying over 100 grams/tonne gold," said president Mitchell Adam.

"It is becoming clear that with a greater understanding of the property our geological team continues hitting the targets.

"Once all of these holes are completed and assays received BonTerra intends to release our gold resource calculation for the property."

Other notable holes included BA-11-26, which intercepted 25.5 metres of 1.19 g/t gold, including 5.3 metres of 5.43 g/t gold and 0.60 metres of 38.8 g/t gold; as well as hole BA-11-25, which returned 1.3 metres of 7.6 g/t gold and 1.00 metres at 2.77 g/t gold.

The company said hole BA-11-10A was abandoned at 99.61 metres due to difficult drilling conditions, but was re-drilled roughly four metres to the northeast and renamed BA-11-10, results of which were disclosed in early August. The new hole hit multiple high grade zones of gold at depth.

The target for all drilling on the Eastern Extension property is smoky quartz veins, mineralized with sulphides. Sphalerite, a type of sulphide, present in the quartz veins appears to be associated with the highest grade gold zones on the property to date, said BonTerra.

BonTerra is focused on continuing to expand the known gold zone on its Eastern Extension property, part of the Abitibi Greenstone Belt of Quebec. The company has a total of four properties in the Urban-Barry belt in the province, all gold exploration targets.

It has an option to earn 100% of the Eastern Extension asset from Abitex Resources, subject to a 2% net smelter royalty.

As at 11:09am EDT, shares of BonTerra were up 11.86% at $0.33 in Toronto, having risen as high as 22% in earlier trading.

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Wed, 07 Sep 2011 12:57:00 -0400 https://ca.proactiveinvestors.com/companies/news/79637/bonterra-rallies-on-high-grade-gold-intercepts-of-over-100gt-at-eastern-extension-18046.html
<![CDATA[News - BonTerra drills high grade gold at Eastern Extension ]]> https://ca.proactiveinvestors.com/companies/news/77884/bonterra-drills-high-grade-gold-at-eastern-extension-15108.html BonTerra Resources (CVE:BTR) announced Thursday high grade gold assays from an additional four drill holes on the Eastern Extension gold project, located 170 kilometres northeast of Val-d'Or, Quebec.

Highlights include 8.95 grams per tonne (g/t) gold over 6.2 metres in drill hole BA-11-23, including 42.6 g/t gold over 1.3 metres; 6.44 g/t gold over 1.5 metres, including 13.0 g/t over 0.70 metres in drill hole BA-11-16; and 5.84 g/t gold over 3.0 metres, including 9.68 g/t gold over 1.5 metres in hole BA-11-17.

Visible gold flecks were observed in two samples taken from drill hole BA-11-23, including 15 visible specks in the 42.6 g/t grade sample, said the company.

"BonTerra is pleased to see the gold zones be proven larger with additional drilling," said president Mitchell Adam.

"Intercepting veins bearing visible gold is rewarding and a result of the hard work by our geological team.

"BonTerra continues drilling with the intent of conducting the first ever NI 43-101 compliant resource calculation on the property."

The Canadian gold explorer, which is based in Vancouver, B.C., has drilled 32 holes on the property to date, and is awaiting the assay results from an additional three drill holes to expand the peninsula zone, previously assayed to contain 14.0 metres of 8.01 g/t gold, including 3.33 metres of 27.3 g/t gold in drill hole BA-11-05, as reported in February.

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Thu, 02 Jun 2011 15:10:00 -0400 https://ca.proactiveinvestors.com/companies/news/77884/bonterra-drills-high-grade-gold-at-eastern-extension-15108.html
<![CDATA[News - BonTerra Resources extends known mineralized gold zone at Eastern Extension in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/75684/bonterra-resources-extends-known-mineralized-gold-zone-at-eastern-extension-in-quebec-11385.html BonTerra Resources (TSX-V: BTR; FSE: 9BR) said Wednesday that it has received further results from two drill holes on its Eastern Extension property in the Abitibi Greenstone Belt in Québec, which have extended the known mineralized gold zone at the site.

Hole BA-10-08 assayed 14.84 g/t gold over 7 metres, with the highest sample grading 31.20 g/t. Meanwhile, BA-10-09 intersected 4.71 g/t gold over 11.75 metres, with the highest sample being 41.20 g/t. Both holes extend the known strike of the gold zone, said the company.

To date, the company has drilled nine holes on the Eastern Extension property for a total of 1358.35 metres. Eight of these holes have intercepted gold zones present in quartz veins, and mineralized with sulphides, BonTerra said.

The Eastern Extension property is located approximately 170 km NE of Val-d'Or, and 125 km SW of Chibougamau in the Barry and Bailly townships.

BonTerra's Urban-Barry property is situated just west of Eastern Extension. The company has an option to earn 100% of the Eastern Extension property, subject to a 2% NSR.

Further drilling at the site is planned with the sole goal of extending the known gold zone.

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Wed, 12 Jan 2011 19:04:00 -0500 https://ca.proactiveinvestors.com/companies/news/75684/bonterra-resources-extends-known-mineralized-gold-zone-at-eastern-extension-in-quebec-11385.html
<![CDATA[News - BonTerra Resources receives drill results as high as 77.8g/t gold at Eastern Extension in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/74757/bonterra-resources-receives-drill-results-as-high-as-778gt-gold-at-eastern-extension-in-quebec-9917.html BonTerra Resources (BTR: TSX-V; FSX: 9BR) said Tuesday that it received drill results from two holes at its Eastern Extension property in Quebec, acheiving intercepts as high as 77.8g/t gold.

Hole BA-10-01 returned 13.5 metres at 17.06g/t gold, while BA-10-02 assayed a drill intercept of 7.73 metres at 21.24g/t gold, including one sample of one metre long which returned a gold grade of 77.8g/t.

To date, the holes drilled on the Eastern Extension property have intercepted zones of smoky quartz veins mineralized with sulphides, the company said.

"We are excited to intercept two high grade drill intercepts approximately 20 metres apart in our ongoing drill program. This cements BonTerra as a significant player in the eastern Abitibi of Quebec," said president Mitchell Adam.

BonTerra is currently drilling the fourth hole on the Eastern Extension property, and is planning on constructing a winter camp for the second phase drill program at the site.

The Eastern Extension property is located approximately 170 km northeast of Val-d'Or and 125 km southwest of Chibougamau in the Barry and Bailly townships in the Abitibi Greenstone Belt.

BonTerra has an option to earn 100% of the Eastern Extension property subject to a 2% NSR.

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Tue, 09 Nov 2010 15:31:00 -0500 https://ca.proactiveinvestors.com/companies/news/74757/bonterra-resources-receives-drill-results-as-high-as-778gt-gold-at-eastern-extension-in-quebec-9917.html
<![CDATA[News - Seabridge Gold sells its interest in the Red Mountain property to BonTerra Resources Inc. ]]> https://ca.proactiveinvestors.com/companies/news/68905/seabridge-gold-sells-its-interest-in-the-red-mountain-property-to-bonterra-resources-inc--1750.html
The Red Mountain property consists of 47 claims totalling 17,125.2 hectares and is located in a prolific mining district. This is a high-grade deposit ( > 0.25 opt) of 400,000 ounces in the measured and indicated categories plus an additional 248,000 ounces in the inferred resource category. Approximately US$40 million has spent by previous owners and diamond drilling on the property has totaled 134,800 metres in 466 holes. In addition, 2,000 metres of underground workings have been excavated, including a 1,000-metre production-sized decline. The proposed sale also includes a large complement of mining equipment.

It does not look like a sale of an unwanted property. According to Seabridge President and CEO Rudi Fronk, they have elected to take part of the proceeds of this proposed sale in the form of a convertible debenture so that Seabridge can continue to participate in Red Mountain's potential success. The objective of the sale has been to use cash proceeds to continue advancing Seabridge’s KSM and Courageous Lake towards feasibility without share dilution.

An elated BonTerra President and CEO Mitch Adam said that the acquisition brings a known, high-grade deposit together with the promising high-grade exploration results they have obtained from their immediately adjacent Willoughby property.  This combination creates the opportunity to develop a sustainable and profitable mining operation within a low-risk political jurisdiction opined Adam.

It is a giant step for BonTerra but indicates the corporate strategy the company is expected to pursue. In fact BonTerra has been actively acquiring projects into its portfolio. The company first acquired the Willoughby Gold Property in BC which entails the right to earn an initial 51% interest in the property from Copper Ridge Explorations Inc. by paying $25,000, issuing 550,000 shares and completing $1.5 million in exploration work on the property over four years.  The company has the option to increase its interest to 65% by issuing a further 300,000 shares and completing an additional $1.5 million in exploration over the next two years. A further 9 claims acquired later around Willoughby has now left BonTerra with a complete contiguous property.

BonTerra has also acquired the Zacatecas North Gold-Silver Property - Huston BC,. The property entails 17 mineral claims covering an area of approximately 7,724 hectares, lying within the Omineca mining district and id located adjacent to the old silver Queen mine property in central BC, ~30 km south from Huston on the Morice river-Owen Lake Forestry road, a good all-weather road which branches south from Highway 16 three km west of Huston. Following the latest acquisition from Seabridge, BonTerra now has an impressive portfolio of assets thus helping its valuations.

Mitch Adam confirmed that they will be starting drill programmes in both Willoughby and Red Mountain properties. We will be following BonTerra closely as the story unfolds.

About BonTerra Resources
BonTerra is a junior exploration company with its focus in North America. It has a strong management team and the ability to resource properties within British Columbia and the United States. BonTerra will provide a sound investment for its share holders by continually searching for quality properties to add to its portfolio.

About Seabridge Gold
Seabridge Gold is engaged in the development of gold properties in North America. From 1999 through 2002, when the gold price was lower, Seabridge acquired nine North American projects with substantial gold resources, including the multi-million ounce Courageous Lake and Kerr-Sulphurets-Mitchell deposits. Subsequent exploration by Seabridge has significantly expanded its acquired gold resource base.]]>
Thu, 25 Jun 2009 16:35:00 -0400 https://ca.proactiveinvestors.com/companies/news/68905/seabridge-gold-sells-its-interest-in-the-red-mountain-property-to-bonterra-resources-inc--1750.html