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Bonterra Announces Start of 2026 Exploration Program at Phoenix JV with Gold Fields, Highlighted by Deep-Drilling at Barry Deposit
Val-d'Or, Quebec--(Newsfile Corp. - January 21, 2026) - Bonterra Resources Inc. (TSXV: BTR) (OTC...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"Bonterra Announces Start of 2026 Exploration Program at Phoenix JV with Gold Fields, Highlighted by Deep-Drilling at Barry DepositVal-d'Or, Quebec--(Newsfile Corp. - January 21, 2026) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (\"Bonterra\" or the \"Company\") is pleased to announce details of the 2026 exploration program, which includes deep-drilling at Barry, being led by a 100% indirect subsidiary of Gold Fields Ltd (\"Gold Fields\") at the Phoenix JV (the \"Project\"). The Project is under a definitive earn-in and joint venture agreement (the \"JV Agreement\") with Gold Fields. Under the JV Agreement, Gold Fields has the right to acquire a 70% interest in the Project by spending C$30 million in work expenditures, with a minimum spending commitment of C$10 million per year over a three-year period (see press release dated November 28, 2023, for more details). To date, over 79,000 meters (\"m\") have been drilled and approximately C$25 million invested on the Project under the JV Agreement.Marc-André Pelletier, President and CEO commented: \"The 2026 exploration program proposed by Gold Fields, particularly the deep drilling at the Barry deposit, aimed at testing mineralization at depth and along the eastern down-plunge, represents an important next step for the Phoenix JV. Together with the planned Barry camp upgrades, these initiatives highlight a commitment to unlocking the full potential of the assets within the JV. With a valid mining lease, historical production, and existing underground infrastructure, Barry is well positioned to drive continued progress with our partner, Gold Fields. We look forward to building on this momentum as Gold Fields progresses toward completing its earn-in by mid-2026.\"2026 Phoenix JV PlansGold Fields is preparing an 8,000 m drill program and has mobilized two drill rigs at the Barry deep drilling target early in the new year. The 2026 exploration program will test targets located to the north and east of the Barry deposit and will include deep drilling to evaluate the down-plunge extension of the mineralization at depth from approximately 750 to 850 m vertical depth, as well as the eastern down-plunge extension. Final target selection will be subject to internal review and prioritization. The 2026 budget is approximately C$4 million, and Gold Fields expects to com...