Bonterra Resources Inc (CVE:BTR) (OTCMKTS:BONXF) intersected high-grade gold during the latest round of drilling at the Gladiator and Barry projects in Quebec, the company reported Monday.
Drilling at Gladiator revealed intercepts of 18.5 grams per ton gold (g/t) over 3 metres in one hole, while another hit 13 g/t gold over 3 metres.
At Barry, one drill hole intersected 11.6 g/t gold over 2.9 metres, extending the zone more than 50 metres to the west. Another hole intersected the zone at a depth of over four metres, returning results of 4.9 g/t gold over 4.1 metres.
Val-d’Or, Quebec-based Bonterra’s key assets are in the Urban-Barry greenstone belt in the mineral-rich province of Quebec. In addition to Gladiator and Barry, the exploration company owns the high-grade Moroy gold project in the mining camp.
(Photo: Gladiator project cross section looking southwest)
Bonterra’s summer drill program consists of two rigs at Moroy and one each at Barry and Gladiator. The company said Monday that it would add an additional diamond drill rig at Gladiator, bringing the total number of rigs in operation to five.
The company also has full ownership of the Urban-Barry mill, the only permitted gold mill in the region.
In May, Bonterra unveiled a new mineral resource estimate for the three projects. Gladiator houses indicated resources of 743,000 tons at an average grade of 8.5 g/t gold, totaling 202,000 ounces. Inferred resources come in at 3 million tons at an average grade of 9.1 g/t gold, totaling 897,000 ounces gold.
At Barry, indicated resources were 2 million tons at an average grade of 5.8 g/t gold, totaling 385,000 ounces, with inferred resources of 2.7 million at an average grade of 5.1 g/t gold, totaling 453,000 ounces gold.
Lastly, Moroy’s measured resources were 302,000 tons at an average grade of 5.7 g/t gold, totaling 55,000 ounces, with indicated resources of 365,000 tonnes gold at an average grade of 4.7 g/t gold, totaling 56,000 ounces gold. Inferred resources were 396,000 tons at an average grade of 4.3 g/t gold, totaling 55,000 ounces gold.
Bonterra's shares traded 1.1% lower on Monday morning at C$2.72 in Toronto.
--Updated with share price--
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