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.
"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.