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Bonterra Intersects 8.2 g/t Au over 8.2 m, Including 16.6 g/t Au over 3.4 m and 54.5 g/t Au over 0.5 m at the Barry Underground Project and Provides Operational and Exploration Updates
Val-d'Or, Quebec--(Newsfile Corp. - May 30, 2023) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: ...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"Bonterra Intersects 8.2 g/t Au over 8.2 m, Including 16.6 g/t Au over 3.4 m and 54.5 g/t Au over 0.5 m at the Barry Underground Project and Provides Operational and Exploration UpdatesVal-d'Or, Quebec--(Newsfile Corp. - May 30, 2023) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (\"Bonterra\" or the \"Company\") is pleased to announce more results from the now completed infill and expansion drilling campaign at the Barry underground project, which holds 0.5 million ounces of Measured and Indicated Mineral resources and 0.7 million ounces of Inferred Mineral resources according to the last mineral resources estimate (the \"2021 MRE\", see press release dated June 23, 2021). The primary goal of this campaign was to convert mineral resources to a higher confidence category and enhance the interpretation and grade continuity of the mineralization, primarily in the upper section of the deposit. In total, 31,349 metres (\"m\") (91 holes) of infill drilling has been completed from surface since August 2022. The Company has received assays for 89 holes so far, including the holes disclosed in this release (see press releases dated November 15, 2022, December 12, 2022, March 27, 2023, and May 1, 2023, for previously released holes). To date, 1,619 samples are pending results.Highlights include:8.2 g/t Au over 8.2 m, including 16.6 g/t Au over 3.4 m and 54.5 g/t Au over 0.5 m in hole MB-23-593A5.0 g/t Au over 7.2 m, including 23.0 g/t Au over 0.7 m and 16.2 g/t Au over 0.6 m in hole MB-23-5997.2 g/t Au over 3.7 m, including 30.0 g/t Au over 0.5 m in hole MB-23-601A6.4 g/t Au over 2.9 m, including 16.9 g/t Au over 1.0 m in hole MB-23-611Operational UpdatesIn addition to the cost saving initiatives announced in November 2022 and March 2023 (see press releases dated November 23, 2022, and March 6, 2023), the Company implemented a new working schedule at the Barry site in April 2023 and expects to reduce fixed camp costs by 50% or approximately $0.5 million (\"M\") in 2023. Also, the Company received proceeds of $0.4 M in Q1 2023 from the rental of the Bachelor camp during the construction of the proposed Kuikuhaacheu hydroelectric power transmission line from the Waswanipi substation to the Windfall gold project, which is approximately 15 kilometers (\"km\") from Bonterra's Barry and Gladiator deposits. More revenue is exp...