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Bonterra Significantly Increases Mineral Resource Estimates Across its Deposits and Sets the Stage for a PEA Later this Year
Val-d'Or, Quebec--(Newsfile Corp. - June 23, 2021) - Bonterra Resources Inc. (TSXV: BTR) (OTC...
About this update from Bonterra Resources, Inc.
[{"type":"text","content":"Bonterra Significantly Increases Mineral Resource Estimates Across its Deposits and Sets the Stage for a PEA Later this YearVal-d'Or, Quebec--(Newsfile Corp. - June 23, 2021) - Bonterra Resources Inc. (TSXV: BTR) (OTCQX: BONXF) (FSE: 9BR2) (\"Bonterra\" or the \"Company\") is pleased to announce updated mineral resource estimates (\"MREs\") for the Gladiator, Barry, and Moroy deposits, and Bachelor mine (the \"2021 MREs\") prepared by independent firm, SLR Consulting (Canada) Ltd. (\"SLR\"). The 2021 MREs in this news release have been classified in accordance with CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2014).Following successful exploration and infill drilling programs, comprehensive mineralization modeling and higher gold prices, Bonterra is pleased to report an increase over the mineral resource estimates for the Gladiator, Barry and Moroy deposits prepared by SGS Canada Inc. (\"SGS\") and dated July 11, 2019 (\"2019 MREs\") of 78% and 27% in gold ounces (\"oz\") for Measured and Indicated (\"M&I\") and Inferred Mineral Resource categories, respectively.The 2021 MREs benefited from nearly 130,000 metres (\"m\") of drilling across the deposits since the 2019 MREs. The average drilling discovery rate resulted in approximately 7.1 oz/m drilled across all the deposits in the last two years. Bonterra plans to continue expansion drilling in the coming months on all deposits to support the Company's growth strategy.Table 1: Comparison of Mineral Resources in 2019 MREs with 2021 MREs2019 MREs2021 MREs% Change CategoryTonnageGradeContained MetalTonnageGradeContained MetalContained Metal(000 t)(g/t Au)(000 oz Au)(000 t)(g/t Au)(000 oz Au)(%)Measured3025.66552,2023.18225309%Indicated3,1606.336435,2036.081,01758%Measured + Indicated3,4626.276987,4055.211,24278%Inferred6,2017.051,4059,1676.051,78127% Notes:2019 MREs are estimated using gold cut-off grades of 3.0 g/t at Moroy and 3.5 g/t at Gladiator and Barry.2019 MREs do not include the Bachelor Mine or crown pillars at either Moroy and Gladiator and do not consider an open pit mining scenario at Barry.2021 MREs are estimated using gold cut-off grades of 1.0 g/t and 2.60 g/t for open pit and underground, respectively.2019 MREs and 2021 MREs are estimated using long-term gold prices of US$1,300 per oz, and US$1,600 per oz, respectively. Both the ...