Deep Drilling at Phoenix JV Yields High-Grade Lynx-Type Mineralization at Moss Target, Highlighted by 38.3 g/t Au over 1.1 m and 7.37 g/t Au over 4.2
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) has announced high-grade gold drill results from the Phoenix JV project, particularly at the Moss Target. Highlights include 38.33 g/t Au over 1.1 m and 7.37 g/t Au over 4.2 m. The project, under a joint venture with Osisko Mining, has seen about 60,000 meters drilled to date, with 37,000 m focused on the Moss Target. The mineralization is similar to the high-grade Lynx Zone and remains open. Drilling activities are completed for now and will resume later this year. The company has exceeded the minimum annual spending commitment of $10 million outlined in the agreement. Additionally, Bonterra plans a 6,000 m drill program at its Desmaraisville project, starting in September.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) ha annunciato risultati di perforazione d'oro ad alta legge dal progetto Phoenix JV, in particolare presso il Moss Target. I punti salienti includono 38,33 g/t Au su 1,1 m e 7,37 g/t Au su 4,2 m. Il progetto, sotto una joint venture con Osisko Mining, ha visto circa 60.000 metri perforati fino ad oggi, con 37.000 m concentrati sul Moss Target. La mineralizzazione è simile alla zona Lynx ad alta legge e rimane aperta. Le attività di perforazione sono attualmente completate e riprenderanno entro la fine di quest'anno. L'azienda ha superato l'impegno di spesa annuale minima di 10 milioni di dollari previsto nell'accordo. Inoltre, Bonterra prevede un programma di perforazione di 6.000 m presso il suo progetto Desmaraisville, che inizierà a settembre.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) ha anunciado resultados de perforación de oro de alta ley del proyecto Phoenix JV, particularmente en el objetivo Moss. Los puntos destacados incluyen 38,33 g/t Au sobre 1,1 m y 7,37 g/t Au sobre 4,2 m. El proyecto, bajo una empresa conjunta con Osisko Mining, ha visto alrededor de 60,000 metros perforados hasta la fecha, con 37,000 m enfocados en el objetivo Moss. La mineralización es similar a la zona Lynx de alta ley y sigue abierta. Las actividades de perforación se han completado por ahora y se reanudarán más tarde este año. La compañía ha superado el compromiso de gasto anual mínimo de 10 millones de dólares estipulado en el acuerdo. Además, Bonterra planea un programa de perforación de 6,000 m en su proyecto Desmaraisville, que comenzará en septiembre.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF)는 Phoenix JV 프로젝트, 특히 Moss Target에서 고급 금 채굴 결과를 발표했습니다. 주요 내용으로는 1.1m에서 38.33g/t Au와 4.2m에서 7.37g/t Au가 포함됩니다. Osisko Mining과 공동으로 진행되는 이 프로젝트는 현재까지 약 60,000미터의 시추가 이루어졌으며, 그중 37,000m는 Moss Target에 집중되었습니다. 이 광물화는 고급 Lynx Zone과 유사하며 여전히 개방되어 있습니다. 현재 시추 작업은 완료되었으며, 올해 말에 재개될 예정입니다. 이 회사는 계약서에 명시된 연간 최소 지출 약속인 1,000만 달러를 초과했습니다. 또한, Bonterra는 9월에 시작될 6,000m 시추 프로그램을 Desmaraisville 프로젝트에서 계획하고 있습니다.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) a annoncé des résultats de forage en or de haute qualité du projet Phoenix JV, notamment sur la cible Moss. Les faits saillants comprennent 38,33 g/t Au sur 1,1 m et 7,37 g/t Au sur 4,2 m. Le projet, sous une coentreprise avec Osisko Mining, a vu environ 60 000 mètres forés à ce jour, avec 37 000 m concentrés sur la cible Moss. La minéralisation est similaire à la zone Lynx de haute qualité et reste ouverte. Les activités de forage sont pour l'instant terminées et reprendront plus tard cette année. La société a dépassé l'engagement de dépenses annuelles minimales de 10 millions de dollars prévu dans l'accord. De plus, Bonterra prévoit un programme de forage de 6 000 m à son projet Desmaraisville, qui commencera en septembre.
Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) hat hochgradige Goldbohrergebnisse aus dem Phoenix JV-Projekt, insbesondere vom Moss-Ziel, bekannt gegeben. Zu den Höhepunkten gehören 38,33 g/t Au über 1,1 m und 7,37 g/t Au über 4,2 m. Das Projekt, das in einer Joint Venture mit Osisko Mining durchgeführt wird, hat bis heute etwa 60.000 Meter gebohrt, wobei 37.000 m auf das Moss-Ziel fokussiert sind. Die Mineralisierung ähnelt der hochgradigen Lynx-Zone und bleibt offen. Die Bohraktivitäten sind vorerst abgeschlossen und werden später in diesem Jahr wieder aufgenommen. Das Unternehmen hat das jährliche Mindestausgabenverpflichtung von 10 Millionen Dollar überschritten, die im Vertrag festgelegt ist. Darüber hinaus plant Bonterra ein 6.000 m Bohrprogramm in seinem Projekt Desmaraisville, das im September beginnen wird.
- High-grade gold mineralization discovered at Moss Target, with best intercepts of 38.33 g/t Au over 1.1 m and 7.37 g/t Au over 4.2 m
- 60,000 meters drilled on the Phoenix JV project, exceeding the minimum annual spending commitment of $10 million
- Mineralization at Moss Target similar to high-grade Lynx Zone and remains open for future exploration
- Planned 6,000 m drill program at Desmaraisville project to start in September
- None.
Val-d'Or, Quebec--(Newsfile Corp. - August 6, 2024) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) ("Bonterra" or the "Company") is pleased to announce additional drill results on the Phoenix JV (formerly known as the Urban-Barry Property) (the "Project"). The Project is under a definitive earn-in and joint venture agreement (the "Agreement") with Osisko Mining Inc. ("Osisko Mining"). Under the Agreement, Osisko Mining has the right to acquire up to a
November 28, 2023, for more details).
To date, approximately 60,000 meters ("m") have been drilled on the Project, including 37,000 m solely on the Moss Target where mineralization similar to the high-grade Lynx Zone has been confirmed at depth by Osisko Mining (see release dated April 15, 2024).
Diamond drilling activities are now completed and will resume later this year once all assays are received and the compilation and interpretation work are available. Importantly, total expenditures on the Project will exceed the minimum annual spending commitment of
Highlights at the Moss Target:
- 38.33 g/t Au over 1.1 m, including 69.6 g/t Au over 0.6 m in hole OSK-PHX-24-078
- 7.37 g/t Au over 4.2 m, including 28.6 g/t Au over 0.4 m in hole OSK-PHX-24-096
- 14.35 g/t Au over 1.6 m, including 29.6 g/t Au over 0.7 m in hole OSK-PHX-24-082
- 24.14 g/t Au over 1.4 m, including 48.1 g/t Au over 0.7 m in hole OSK-PHX-24-072
- 42.1 g/t Au over 0.8 m in hole OSK-PHX-24-080
- 75.8 g/t Au over 0.4 m in hole OSK-PHX-24-049
Marc-André Pelletier, President and CEO commented: "We are very pleased to report, in collaboration with our partner Osisko Mining, the discovery of high-grade Lynx-type mineralization at depth at the Moss target. Notably, the mineralization remains open and will be the subject of future work within the framework of our agreement. The presence of grey quartz-pyrite veins with visible gold, combined with intense sericite-pyrite and silica altered rock, indicates wider mineralization, as observed in drill holes OSK-PHX-078 and OSK-PHX-096.
We look forward to resuming exploration work on the Phoenix JV later this year.
At our Desmaraisville project, fieldwork is progressing well, and our geology team is working to generate prospective drill targets for exploration. A 6,000 m drill program is planned to start in September focusing on the most promising targets."
Figure 1- Phoenix JV Project - Surface Plan View with Completed Drill holes
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Figure 2 - Phoenix JV Project - Surface Plan View with Completed Drill holes at the Moss Target
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Figure 3 - Longitudinal View of the Moss Target with Best Results
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Table 1: Drill Hole Locations - Phoenix JV, Moss Target
| Hole ID | Easting | Northing | Elevation (m) | Azimuth (°) | Dip (°) | Length (m) |
| OSK-PHX-24-035 | 448908 | 5432156 | 398 | 323 | -56 | 408 |
| OSK-PHX-24-045 | 448032 | 5431570 | 406 | 315 | -48 | 396 |
| OSK-PHX-24-049 | 447524 | 5432255 | 410 | 320 | -49 | 444 |
| OSK-PHX-24-057 | 447804 | 5431538 | 401 | 317 | -51 | 303 |
| OSK-PHX-24-058 | 448904 | 5432156 | 398 | 320 | -47 | 376 |
| OSK-PHX-24-063 | 448905 | 5432155 | 398 | 330 | -60 | 411 |
| OSK-PHX-24-064 | 448096 | 5431475 | 400 | 321 | -48 | 564 |
| OSK-PHX-24-069 | 448904 | 5432155 | 398 | 310 | -47 | 429 |
| OSK-PHX-24-070 | 448905 | 5432154 | 398 | 333 | -69 | 516 |
| OSK-PHX-24-072 | 448209 | 5431504 | 399 | 316 | -49 | 600 |
| OSK-PHX-24-078 | 448744 | 5431269 | 399 | 320 | -50 | 1,173 |
| OSK-PHX-24-080 | 447591 | 5431267 | 399 | 330 | -60 | 510 |
| OSK-PHX-24-082 | 448655 | 5431775 | 397 | 321 | -49 | 687 |
| OSK-PHX-24-096 | 448941 | 5431312 | 399 | 323 | -50 | 1,230 |
UTM Coordinates, System: NAD83 Zone 18N
Table 2: Significant Mineralized Intersections from Drilling on the Moss Target
| Hole ID | Including | From (m) | To (m) | Length (m) | Grade (Au g/t) | Metal Factor (length x grade) |
| OSK-PHX-24-035 | 200.4 | 200.7 | 0.3 | 44.1 | 13.23 | |
| 287.2 | 288.8 | 1.6 | 5.83 | 9.33 | ||
| Including | 287.5 | 288.1 | 0.6 | 14.1 | 8.43 | |
| OSK-PHX-24-045 | 198.0 | 199.0 | 1.0 | 6.15 | 6.15 | |
| OSK-PHX-24-049 | 185.4 | 185.8 | 0.3 | 75.8* | 30.32 | |
| OSK-PHX-24-057 | 54.3 | 55.3 | 1.0 | 5.85 | 5.85 | |
| OSK-PHX-24-058 | 54.0 | 55.0 | 1.0 | 7.98 | 7.98 | |
| OSK-PHX-24-063 | 288.2 | 290.3 | 2.1 | 3.98 | 8.35 | |
| Including | 290.0 | 290.3 | 0.3 | 8.89 | 2.67 | |
| OSK-PHX-24-064 | 351.0 | 353.0 | 2.0 | 4.68 | 9.36 | |
| Including | 352.5 | 353.0 | 0.5 | 8.47 | 4.24 | |
| OSK-PHX-24-069 | 264.3 | 265.3 | 1 | 18.45 | 18.45 | |
| Including | 264.7 | 265.3 | 0.6 | 29.1* | 17.46 | |
| OSK-PHX-24-070 | 240.0 | 241.1 | 1.1 | 7.73 | 8.51 | |
| Including | 240.7 | 241.1 | 0.4 | 18.9 | 7.56 | |
| OSK-PHX-24-072 | 334.3 | 335.7 | 1.4 | 24.14 | 33.80 | |
| Including | 335.0 | 335.7 | 0.7 | 48.1 | 33.67 | |
| OSK-PHX-24-078 | 844.4 | 845.5 | 1.1 | 38.33* | 42.17 | |
| Including | 844.4 | 845.0 | 0.6 | 69.6 | 41.76 | |
| OSK-PHX-24-080 | 329.1 | 329.9 | 0.8 | 42.1* | 33.68 | |
| OSK-PHX-24-082 | 155.3 | 158.0 | 2.7 | 2.17 | 5.86 | |
| 314.7 | 316.3 | 1.6 | 14.35 | 22.95 | ||
| Including | 315.6 | 316.3 | 0.7 | 29.6 | 20.72 | |
| OSK-PHX-24-096 | 930.6 | 934.8 | 4.2 | 7.37* | 30.97 | |
| Including | 930.6 | 931.0 | 0.4 | 28.6 | 11.44 |
* Visible Gold Grains
1) True width determination is currently unknown but is estimated from 55 to
2) Assays are uncut except where indicated.
3) Intercepts have not been correlated to individual zones or vein domains at this time.
Quality Control and Reporting Protocols (adopted by Osisko Mining)
NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at ALS Laboratories in Val-d'Or, Québec, or Vancouver, British Colombia. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, including silver, using Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control ("QA/QC") and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by Osisko Mining as well as the lab.
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 Resources Inc.
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, which include the Gladiator and Barry deposits. Over the next three years, Osisko can earn a
FOR ADDITIONAL INFORMATION
Marc-André Pelletier, President & CEO
ir@btrgold.com
2872 Sullivan Road, Suite 2, Val-d'Or, Québec 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 press release contains "forward-looking information" that is based on Bonterra's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the earn-in and joint venture agreement with Osisko Mining announced on November 28, 2023. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes namely information with respect to the planned exploration programs and the potential growth in mineral resources. Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit and such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets are conceptual in nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets, environmental and other judicial, regulatory, political, and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218821
FAQ
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