Welcome to our dedicated page for Bonterra Res news (Ticker: BONXF), a resource for investors and traders seeking the latest updates and insights on Bonterra Res stock.
About Bonterra Resources Inc.
Bonterra Resources Inc. (TSXV: BTR, OTCQX: BONXF, FSE: 9BR2) is a Canadian gold exploration company with a focus on advancing high-potential gold deposits in Quebec, Canada. Anchored by a strategically located central milling facility in Val-d'Or, Quebec, Bonterra's portfolio includes advanced exploration assets such as the Gladiator, Barry, Moroy, and Bachelor gold deposits. These assets collectively hold significant gold resources, positioning the company as a key player in the prolific Abitibi greenstone belt, a region renowned for its rich mineral endowment.
Core Operations and Assets
Bonterra's operations are centered around its advanced exploration projects, which are supported by its Bachelor Mill Complex. This facility provides a competitive advantage by enabling efficient ore processing and reducing logistical challenges. The company's flagship assets include:
- Gladiator Deposit: A high-grade gold deposit with significant exploration upside, located within the Urban-Barry mining camp.
- Barry Deposit: Known for its open-pit and underground potential, the Barry deposit complements the company's resource base.
- Moroy and Bachelor Deposits: These deposits are located near the Bachelor Mill, offering synergies in exploration and development.
In addition to these assets, Bonterra has a 100% interest in the Desmaraisville South Project, which has shown promising exploration results and potential for near-surface gold mineralization.
Strategic Partnerships and Growth Initiatives
Bonterra has demonstrated a commitment to collaboration through its joint venture agreement with Osisko Mining Inc. (now Gold Fields Ltd.) for the Urban-Barry properties. Under this agreement, Gold Fields can earn a 70% interest by investing C$30 million in exploration expenditures by 2026. This partnership underscores Bonterra's strategic approach to advancing its assets while sharing exploration risks.
The company's exploration efforts are further bolstered by its partnerships with industry experts and service providers, ensuring the use of cutting-edge technologies and methodologies in its drilling and analysis programs.
Competitive Positioning
Operating in the highly competitive gold exploration sector, Bonterra stands out due to:
- Strategic Location: Its assets are situated in a world-class gold mining region with excellent infrastructure and access to skilled labor.
- Advanced Assets: The company's deposits have significant resource bases and exploration potential, providing a strong foundation for growth.
- Central Milling Facility: The Bachelor Mill enhances operational efficiency and positions Bonterra for rapid project development.
- Collaborative Approach: Partnerships with major players like Gold Fields and innovative service providers amplify its exploration capabilities.
Commitment to Sustainable Development
Bonterra is dedicated to responsible exploration practices, adhering to strict environmental and regulatory standards. The company engages with local communities and stakeholders to ensure its operations contribute positively to regional development.
Conclusion
Bonterra Resources Inc. is poised for growth in the dynamic gold exploration industry. With a robust portfolio of advanced assets, strategic partnerships, and a commitment to operational excellence, the company is well-positioned to unlock significant value for its stakeholders. Its focus on the Abitibi greenstone belt, combined with its technical expertise and collaborative approach, underscores its potential as a key contributor to Quebec's mining sector.
Bonterra Resources (TSXV: BTR) (OTCQX: BONXF) has announced that Urbana is initiating a 4,150-meter winter drilling program on the Urbana property, which is adjacent to Bonterra's Moss target on the Phoenix JV with Gold Fields
The Urbana property is strategically located along the regional Mazères Fault, the main structural corridor hosting the Barry deposit (0.689 million ounces in Measured and Indicated categories, plus 0.689 million ounces in Inferred category). Recent drilling at the Moss Target has revealed high-grade gold mineralization similar to the Lynx Zone at the Windfall project.
The Urban-Barry camp has already yielded nearly 10 million ounces of gold discoveries across the Windfall, Barry, and Gladiator deposits, yet remains underexplored with potential for additional discoveries.
Bonterra Resources (TSXV: BTR) (OTCQX: BONXF) has announced new security-based compensation grants effective December 23, 2024. The company granted 300,000 restricted share units (RSUs) to one officer, which will vest over a one-year period under the company's Omnibus Equity Incentive Compensation Plan. Additionally, another officer received 750,000 stock options that vest immediately and can be exercised at $0.225 per share over a five-year period from the grant date.
Bonterra Resources (TSXV: BTR) (OTCQX: BONXF) has announced initial assay results from its 4,761-meter diamond drilling campaign at the Desmaraisville South Project. The campaign, consisting of 16 diamond drill holes, discovered four new mineralized zones within 5 km of the company's Bachelor Mill Complex.
Key highlights include:
- 1.13 g/t Au over 16.0 m, including 2.02 g/t Au over 6.0 m
- 5.30 g/t Au over 1.4 m, including 18.39 g/t Au over 0.4 m
- 2.58 g/t Au over 6.0 m, including 4.50 g/t Au over 3.2 m
- 0.59 g/t Au over 22.3 m, including 3.17 g/t Au over 2.4 m
The drilling campaign focused on testing new targets based on 2024 fieldwork observations, follow-up on previous promising results, new geophysical IP targets, and the near-surface extension of the Hewfran gold mineralized zone.
Bonterra Resources (TSXV: BTR) (OTCQX: BONXF) has completed a non-brokered private placement, selling 2,722,391 flow-through units at $0.40 per unit for gross proceeds of $1,088,956.40. Each unit includes one flow-through share and half a warrant, with each full warrant exercisable at C$0.31 until December 12, 2026.
The offering attracted key investors including SIDEX, a mineral exploration investment fund, and Wexford Capital. The proceeds will fund Canadian exploration expenses and utilize VRIFY's AI tools for exploration work at the company's Desmaraisville property, which hosts the Bachelor Mill. Quebec residents will be eligible for an additional 20% tax deduction. Company insiders participated by acquiring 548,478 units.
Bonterra Resources (BONXF) has announced additional assay results from the Moss target and the restart of drilling operations by Gold Fields at the Phoenix JV project. Under the JV Agreement, Gold Fields can acquire up to 70% interest by spending C$30 million, with a minimum C$10 million yearly commitment over three years.
The Moss target drilling program revealed significant results, including 6.23 g/t Au over 2.8m and 12.3 g/t Au over 0.5m. Over 60,000 meters have been drilled, with approximately C$16 million spent on the Project this year.
Gold Fields is planning a 20,000 meters drill program with three to four drill rigs, focusing on the Barry Shear Zone near the Gladiator deposit, which contains 0.4 million ounces of Measured and Indicated resources and 1.0 million ounces of Inferred resources.
Bonterra Resources has extended its marketing agreement with Westlake Capital, a Zurich-based marketing firm. Westlake will provide non-exclusive marketing and investor relations services, including investor outreach, organizing meetings, news distribution, marketing campaign assistance, and market intelligence. The agreement spans six months with a monthly fee of GBP 4,500, not exceeding CAN$49,000 total. Westlake, operating at arm's length from Bonterra, owns no securities or interests in the company.
Bonterra Resources has engaged ICP Securities Inc. to provide automated market making services, including the use of its proprietary algorithm, ICP Premium™. The agreement, starting November 11, 2024, is for an initial four-month term with automatic monthly renewals unless terminated with 30 days notice. Bonterra will pay ICP a monthly fee of C$7,500 plus taxes. ICP's market making activities will focus on correcting temporary supply and demand imbalances in Bonterra's shares, with ICP bearing all trading costs. The agreement contains no performance factors or additional compensation.
Bonterra Resources (TSXV: BTR) (OTCQX: BONXF) has announced its participation in the upcoming 121 Mining Investment Conference in London on November 14-15. President and CEO Marc-Andre Pelletier and Executive Chairman Cesar Gonzalez will present the company's recent and planned activities. The conference will feature over 150 mining companies and more than 500 investors, offering pre-arranged one-on-one meetings and expert commentary on industry developments. Investors can register for free attendance.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) congratulates Gold Fields on its C$2.16 billion acquisition of Osisko Mining Inc. The all-cash transaction, approved by Osisko Mining shareholders on October 17, 2024, is expected to close around October 25, 2024. Upon closing, Gold Fields will become the Operator of the Phoenix JV project in the Urban-Barry camp near the Windfall gold deposit.
Under the existing earn-in and joint venture agreement, Gold Fields can acquire up to 70% interest in the Project by investing C$30 million in work expenditures over three years. Since November 2023, Osisko Mining has drilled 60,000 meters and invested over C$15 million, leading to a significant discovery at the Moss target with high-grade mineralization similar to the Windfall-Lynx Zone.
Bonterra's Executive Chairman, Cesar Gonzalez, expressed enthusiasm about partnering with Gold Fields, a global gold producer, and the potential for new discoveries near the future Windfall mine.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) has appointed Lesley Antoun to its Board of Directors as an independent non-executive director. Antoun, with 30 years of leadership experience in various industries including mining, will chair the Human Resources and Compensation Committee and serve on several other committees. She replaces Matthew Happyjack, who will transition to a consulting role focusing on stakeholder relations. The Board maintains seven directors, four being independent.
Antoun brings expertise in engineering, marketing, and program management, with experience in collaborating with First Nations organizations. She holds board positions at Wainbee and Jacques Cartier and Champlain Bridges Incorporated. Antoun has a mechanical engineering degree and an MBA, and is pursuing a Sustainability and ESG Certification.
The appointment comes as Bonterra prepares to collaborate with Gold Fields on the Phoenix Joint Venture. Antoun has been granted 300,000 stock options at $0.285 per share, exercisable for five years.
FAQ
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