Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Bonterra Resources rallies on high grade gold intercepts at Gladiator gold project

The company saw its shares rise 8% on Wednesday after the junior explorer reported encouraging gold grades and widths on its Gladiator property, located in Quebec's prolific Abitibi gold belt
Gold
The company said results from the drilling campaign extended the deposit both west and east, opening multiple zones for further expansion

Bonterra Resources (CVE:BNE) saw its shares rise 8% on Wednesday after the junior explorer reported encouraging drilling results at its Gladiator gold project in Quebec.

Highlights of the drill results included an intersection of 44.9 g/t gold over 3.0 metres, at hole BA-18-34, the company said, which extended a high-grade ore shoot to the west, up-plunge in the Rivage Gap area.

"The resource development program continues to be extremely successful in terms of the extension of mineralized zones and in terms of demonstrating high grades throughout," said Nav Dhaliwal, president and chief executive officer of Bonterra.

"Most significantly, however, is how well we have shown continuity down dip and along strike for all five of the primary zones to date. The high grades encountered on the west side of the deposit and the down-plunge of the east side announced today are of obvious significance to the deposit as a whole."

Drilling campaign extends deposit

According to the company, results from the winter drilling campaign at the Gladiator gold project successfully extended the deposit both west and east, opening multiple zones for further expansion. 

Recent drilling in the west side of the deposit extended the north zone and now totals a strike length of approximately 1,300 metres. 

Other highlights included hole BA-11-36, which extended the North zone by about 150 m to the east, down-plunge of a defined ore shoot with 8.4 g/t gold over 3.0 metres; as well as holes BA-18-27A, BA-18-30 and BA-18-31, which intersected the main zone between 300 to 500 metres below surface, demonstrating the continuity of mineralization with 24.3 g/t gold over 5.0 metres in BA-18-30 and 9.6 g/t gold over 3.5 metres in BA-18-31.

Bonterra said it will continue its aggressive resource development program with five drills at the deposit focused on infill and step out drilling in preparation for the updated mineral resource estimate in the second half of 2018.

Shares of Bonterra Resources were up 8.24% at C$0.46 on Wednesday afternoon. 

View full BTR profile View Profile

BonTerra Resources Timeline

Related Articles

Picture of drilling rig at Bira prospect
May 14 2018
The Samira greenstone belt hosts the 2.5-million ounce Samira Hill gold deposit across the border in Niger.
1522843655_shutterstock_102742847.jpg
April 04 2018
BAM East will be the focus in 2018, after Landore completed a £3.15mln funding
1526401963_shutterstock_130308137.jpg
May 15 2018
It has hired engineer Hatch Ltd to look at a potential autoclave to produce gold bars

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use