Bonterra Provides Exploration Updates at Phoenix JV with Gold Fields
Bonterra Resources (OTCQX: BONXF) provided updates on its Phoenix JV project with Gold Fields, where Gold Fields can earn a 70% interest by spending C$30 million in work expenditures. The project has seen significant progress with over 65,000 meters drilled and C$20 million invested to date.
Current exploration activities include gravity surveys and field work, with a planned 15,000-meter drill program starting in August. The program will focus on the Barry Shear Zone at Gladiator NE and Titan targets, with three drill rigs to be deployed. Previous drilling at Titan returned promising results, including intersections of 12.4 g/t Au over 5.3m.
Bonterra Resources (OTCQX: BONXF) ha fornito aggiornamenti sul progetto Phoenix JV con Gold Fields, dove Gold Fields può acquisire una partecipazione del 70% spendendo 30 milioni di C$ in lavori. Il progetto ha registrato progressi significativi con oltre 65.000 metri perforati e 20 milioni di C$ investiti fino ad oggi.
Le attività di esplorazione attuali includono indagini gravimetriche e lavoro sul campo, con un programma di perforazione di 15.000 metri previsto a partire da agosto. Il programma si concentrerà sulla Barry Shear Zone ai target Gladiator NE e Titan, con l'impiego di tre trivelle. Le perforazioni precedenti a Titan hanno dato risultati promettenti, inclusi intersezioni di 12,4 g/t Au su 5,3 m.
Bonterra Resources (OTCQX: BONXF) proporcionó actualizaciones sobre su proyecto conjunto Phoenix JV con Gold Fields, donde Gold Fields puede obtener un interés del 70% al gastar 30 millones de C$ en gastos de trabajo. El proyecto ha avanzado significativamente con más de 65,000 metros perforados y 20 millones de C$ invertidos hasta la fecha.
Las actividades de exploración actuales incluyen estudios gravimétricos y trabajo de campo, con un programa de perforación planificado de 15,000 metros que comenzará en agosto. El programa se enfocará en la Barry Shear Zone en los objetivos Gladiator NE y Titan, con tres equipos de perforación desplegados. Las perforaciones anteriores en Titan arrojaron resultados prometedores, incluyendo intersecciones de 12,4 g/t Au sobre 5,3 m.
Bonterra Resources (OTCQX: BONXF)는 Gold Fields와 함께하는 Phoenix JV 프로젝트에 대한 업데이트를 제공했으며, Gold Fields는 작업비용으로 3,000만 캐나다 달러를 지출하여 70% 지분을 획득할 수 있습니다. 이 프로젝트는 현재까지 65,000미터 이상의 시추와 2,000만 캐나다 달러의 투자로 상당한 진전을 보였습니다.
현재 탐사 활동에는 중력 조사와 현장 작업이 포함되며, 8월에 시작될 예정인 15,000미터 시추 프로그램이 계획되어 있습니다. 이 프로그램은 Gladiator NE와 Titan 목표지점의 Barry Shear Zone에 집중하며, 세 대의 시추 장비가 투입될 예정입니다. 이전 Titan 시추에서는 5.3미터 구간에서 12.4 g/t Au의 교차 구간과 같은 유망한 결과가 나왔습니다.
Bonterra Resources (OTCQX: BONXF) a fourni des mises à jour sur son projet Phoenix JV avec Gold Fields, où Gold Fields peut acquérir une participation de 70 % en dépensant 30 millions de dollars canadiens en travaux. Le projet a connu des progrès significatifs avec plus de 65 000 mètres forés et 20 millions de dollars canadiens investis à ce jour.
Les activités d'exploration actuelles comprennent des levés gravimétriques et des travaux sur le terrain, avec un programme de forage de 15 000 mètres prévu à partir d'août. Le programme se concentrera sur la Barry Shear Zone aux cibles Gladiator NE et Titan, avec le déploiement de trois foreuses. Les forages précédents à Titan ont donné des résultats prometteurs, notamment des intersections de 12,4 g/t Au sur 5,3 m.
Bonterra Resources (OTCQX: BONXF) gab Updates zu seinem Phoenix JV-Projekt mit Gold Fields bekannt, bei dem Gold Fields durch Ausgaben von 30 Millionen C$ einen 70%igen Anteil erwerben kann. Das Projekt verzeichnete bisher erhebliche Fortschritte mit über 65.000 Metern Bohrungen und 20 Millionen C$ investierten Mitteln.
Die aktuellen Explorationsaktivitäten umfassen Schwerkraftmessungen und Feldarbeiten, mit einem geplanten Bohrprogramm von 15.000 Metern, das im August startet. Das Programm konzentriert sich auf die Barry Shear Zone an den Zielen Gladiator NE und Titan, wobei drei Bohrgeräte eingesetzt werden. Frühere Bohrungen bei Titan lieferten vielversprechende Ergebnisse, darunter Abschnitte mit 12,4 g/t Au über 5,3 m.
- Over C$20 million already invested in the project out of C$30 million commitment
- Previous high-grade gold intersections at Titan target (12.4 g/t Au over 5.3m)
- Gladiator deposit contains 0.39M oz Measured & Indicated and 0.99M oz Inferred resources
- Comprehensive exploration program with 15,000m drilling planned
- Gold Fields must spend C$10 million per year to maintain the agreement
- Final target selection still pending internal review
Val-d'Or, Quebec--(Newsfile Corp. - July 2, 2025) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to provide exploration updates being led by a
Marc-André Pelletier, President and CEO commented: "Progress at the Phoenix JV is well underway, with geophysical surveys, mapping, and soil sampling currently in progress. These initiatives, combined with a 15,000-meter drill program scheduled to begin in August, offer promising potential for new discoveries at the Phoenix JV, particularly at the Gladiator NE-Titan targets where near surface economic values have been intercepted before. We look forward to continuing our collaboration with Gold Fields as we work to advance Quebec's newest emerging gold camp."
2025 Exploration Program updates
To date, over 65,000 meters ("m") have been drilled, with approximately C
Gold Fields is currently preparing a 15,000 m drill program, with final target selection subject to internal review and prioritization. Several promising targets have already been identified, based on historical gold showings, previous drill results, and geophysical survey data (see Figure 1).
Gold Fields intends to deploy three drill rigs, primarily focused along the Barry Shear Zone at the Gladiator NE and Titan targets. The program will also explore additional areas including Duke NE, Chanceux, the Tourmaline Ridge Extension, Rouleau Till, and Cominco. Some of these targets exhibit multiple mineralized indicators, several of which show economically significant values. Additionally, field work combined with a gravity airborne survey is ongoing. The 2025 exploration program will generate new targets once the results are analyzed later this year.
Figure 1 - Phoenix JV Project - Surface Plan View with Completed Drill holes, Historical Drill Hole Assay Results and 2025 Drill Target Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/256783_c680c807c4549a0b_001full.jpg
Gladiator NE and Titan targets
The Gladiator NE sector, including the Titan target, is crossed by the Barry Deformation Zone, hosts to the Gladiator deposit which contains 0.39 million ounces of Measured and Indicated Mineral resources and 0.99 million ounces of Inferred Mineral resources, as reported in the 2021 mineral resource estimate ("2021 MRE"). Titan's previous drill hole BA-18-116 returned an intersection of 12.4 g/t Au over 5.3 m and drill hole BRS 17-11 returned 7.7 g/t over 3.0 m, including 23.2 g/t over 1.0m (see Bonterra's press release dated November 20, 2018, and January 21, 2019), confirming the discovery potential along the Barry fault (see Figure 2). The geological setting is similar to that of Gladiator deposit, with gabbroic sills and felsic intrusions associated with gold mineralization.
Figure 2 - Phoenix JV Project - Longitudinal View of Gladiator deposit and Titan target area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1528/256783_bonterra_figure2.png
Qualified Person
M. Donald Trudel, P.Geo. (OGQ # 813), Director Geology for the Company, has reviewed and approved the technical information contained in this press release. Mr. Trudel is a qualified person as defined by National Instrument 43-101 on standards of disclosure for mineral projects.
ABOUT BONTERRA
Bonterra is a Canadian gold exploration company with a portfolio of advanced exploration assets anchored by a central milling facility in Quebec, Canada. The Company's assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category.
In November 2023, the Company entered into an earn-in and joint venture agreement with Osisko Mining Inc. for the Urban-Barry properties (the "JV Agreement"), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for C
FOR ADDITIONAL INFORMATION
Marc-André Pelletier, President & CEO
ir@btrgold.com
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution regarding forward-looking statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including the ability and timing of the parties to complete the Joint Venture (if at all), whether the work expenditures would be incurred as contemplated in the Agreement (or at all), the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company's recent securities filings available at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256783
FAQ
What is the status of Bonterra Resources' (BONXF) Phoenix JV with Gold Fields?
What are the terms of Bonterra's Phoenix JV agreement with Gold Fields?
What are the resource estimates for Bonterra's Gladiator deposit?
What are Bonterra's exploration plans for 2025 at the Phoenix JV?
What were the significant drill results at Bonterra's Titan target?
