BonTerra Defines a NI 43-101 Compliant Inferred Gold Resource of 492,000 Ounces on Its Eastern Extension Property
VANCOUVER, BC -- (Marketwire) -- 06/13/12 --
BonTerra Resources Inc. /
BONTERRA DEFINES A NI 43-101 COMPLIANT INFERRED GOLD RESOURCE OF 492,000
OUNCES
ON ITS EASTERN EXTENSION PROPERTY
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Suite 4006 - 1011 West Cordova Street
Vancouver, B.C. V6C 0B2
Telephone: (604) 678-5308
Fax: (604) 678-5309
TSX.V
- BTR
FSE
- 9BR
BonTerra Resources Inc. (TSXV: BTR; FSE: 9BR)
(the "Company", "BonTerra") is pleased to announce the release of a
National
Instrument 43-101 ("NI 43-101") compliant inferred resource estimate
for its
100% owned Quebec gold property, the Eastern Extension (the
"Property"). The
mineral resource estimate includes the results of 12,543 metres of core
drilling
completed on the Property in 2011. The resource estimate, completed by
Snowden
Mining Industry Consultants Inc. ("Snowden") of Vancouver, British
Columbia is
constrained by geologic domains consisting of ten vein structures. Using a
1.0
g/t cutoff, the Property contains inferred gold resources of 4,337,000
tonnes
grading 3.53 g/t for 492,000 ounces. BonTerra has been able to define
this
resource with the drilling performed in the past two years. The Company
intends
to file a complete Technical Report on SEDAR within 45 days of this
release as
required by NI 43-101. The inferred resource estimate is set out in
Table 1
below and reported as a series of cut off grades.
Table 1: Inferred Resource Estimate for the Eastern Extension Property
+---------------+-----------+---------------+------------+-------------+
| Cut off Grade | Metric | Gold Grade | Gold Grams | Gold Ounces |
| (grams/tonne) | Tonnes | (grams/tonne) | (000) | |
+---------------+-----------+---------------+------------+-------------+
| 1.0 | 4,337,000 | 3.53 | 15,314 | 492,000 |
+---------------+-----------+---------------+------------+-------------+
| 2.0 | 2,266,000 | 5.29 | 11,976 | 385,000 |
+---------------+-----------+---------------+------------+-------------+
| 3.0 | 1,170,000 | 7.97 | 9,328 | 300,000 |
+---------------+-----------+---------------+------------+-------------+
| 4.0 | 905,000 | 9.37 | 8,479 | 273,000 |
+---------------+-----------+---------------+------------+-------------+
| 5.0 | 863,000 | 9.50 | 8,200 | 264,000 |
+---------------+-----------+---------------+------------+-------------+
| 6.0 | 778,000 | 9.94 | 7,735 | 249,000 |
+---------------+-----------+---------------+------------+-------------+
| 7.0 | 673,000 | 10.46 | 7,036 | 226,000 |
+---------------+-----------+---------------+------------+-------------+
| 8.0 | 513,000 | 11.44 | 5,870 | 189,000 |
+---------------+-----------+---------------+------------+-------------+
| 9.0 | 409,000 | 12.27 | 5,018 | 161,000 |
+---------------+-----------+---------------+------------+-------------+
Highlights of the NI 43-101 Compliant Inferred Resource Estimate:
1. BonTerra has defined the resource by spending approximately $3.5
million in
under two years and drilling 13,919 metres of core. This has resulted
in an
inferred gold resource of 4,337,000 tonnes grading 3.53 g/t (1.0
g/t cut
off) for 492,000 ounces of gold.
2. With a very high cutoff grade of 6.0 g/t, there is an inferred gold
resource
of 249,000 ounces with an average grade of 9.94 g/t. This demonstrates
grade
stability.
3. The inferred resource estimate was completed by Snowden, amongst the
most
respected of global mining consulting firms.
4. Management believes there is potential for expansion with further
drilling
as the existing inferred resource is open to the northeast,
southwest and
down dip. In addition, BonTerra's Rivage Zone was not included
in the
existing resource estimate.
5. The Urban-Barry gold camp additionally hosts two other gold projects
with NI
43-101 compliant resources. These consist of Windfall Lake (TSX.V: EAG) and
the Barry Deposit (TSX.V: MTO).
The 5,917 metres of drilling BonTerra completed in 2012, which
includes the
Rivage Zone ("Rivage"), is not included in the existing inferred
resource
estimate. There are assays pending for six holes. The highlight of this
2012
drilling was the Rivage which assayed 73.82 g/t gold over 3.0 metres
in
BA-12-10, which included 1.0 metre of 220.0 g/t gold. This drill hole at
the Rivage
was collared approximately 120 metres from the Rivage discovery outcrop. A
chip
sample taken from this outcrop in the fall of 2011 assayed 204 g/t gold.
Navjit Dhaliwal, President states, "BonTerra is very proud to have received
such
a great first ever resource estimate from Snowden for our gold property.
It is
not common for a junior company like BonTerra Resources to develop an
asset of
such high potential in such a short period of time. We feel this
resource
estimate completed by Snowden solidifies BonTerra as a leading junior
gold
explorer in Quebec's Abitibi Greenstone Belt. This also speaks volumes
about the
high quality of the Property as well as all of our team in Vancouver
and Val
d'Or."
Inferred Mineral Resource Estimate:
Information in this news release that relates to the inferred mineral
resource
estimate has been reviewed and approved by Walter A Dzick CPG, AIPG, who
is a
Qualified Person under the definitions established by NI 43-101.
He is
independent of BonTerra and an employee of Snowden Mining Industry
Consultants
Inc., Vancouver, British Columbia.
This technical content of this press release has been reviewed and
accepted by
Thomas Clarke, Pr.Sci.Nat., a Director of BonTerra. Mr. Clarke is a
Qualified
Person under NI 43-101.
The Property is situated approximately 170 kilometres northeast of Val
d'Or,
Quebec in the Abitibi Greenstone Belt. Snowden conducted the gold
resource
estimate on behalf of BonTerra. Through the end of 2011, the Property has
had a
total of 108 diamond drill holes totaling 23,165 metres of diamond
drilling as
shown in Table 2 which includes historical drilling. BonTerra has
also
completed 15 diamond drill holes for 5,917 metres in 2012. These drill
holes
were not utilized for the current resource estimation.
Table 2: Summary of All Drilling on the Eastern Extension Property
+-----------+----------+------------+-----------+------------------------+
| Company | Years |Total Metres|Total Holes| Description With |
|Responsible| Drilled | | | Relation to Inclusion |
| | | | |in the Resource Estimate|
+-----------+----------+------------+-----------+------------------------+
| BonTerra | 2010 | 1,346| 9 |Included in the resource|
| | | | |estimate |
+-----------+----------+------------+-----------+------------------------+
| BonTerra | 2011 | 12,573| 40 |Included in the resource|
| | | | |estimate |
+-----------+----------+------------+-----------+------------------------+
| Xemac | Various | 9,246| 59 |Included in the resource|
| | | | |estimate area |
+-----------+----------+------------+-----------+------------------------+
|Total Drilling | | | |
|BonTerra | 19,836| 64 | |
+----------------------+------------+-----------+ |
|Total Drilling Xemac | 9,246| 59 | |
+----------------------+------------+-----------+ |
|Grand Total all | 23,165| 108 | |
|Drilling | | | |
+----------------------+------------+-----------+------------------------+
As previously reported, BonTerra has focused its geological
program on
assessment of the quartz veins that appear to be spatially associated
with
syenite porphyry dykes in the Eastern Extension area. The dyke and
several
associated gold bearing quartz veins have been defined over a strike
length of
1,000 metres, to a depth of 700 metres.
The database used by Snowden contains 108 surface diamond drill holes
(total of
23,165 metres; average length 215 metres). Fourty drill holes were
completed in
2011. Geological information from all drill cores was used to
develop the
geological interpretation.
A Vulcan block model with cell dimensions of 2 metres (X), 2 metres
(Y), 2
metres (Z) was coded to reflect surface topography, syenite porphyry
dykes, and
the quartz vein domain solids.
Gold grades were estimated from 1 metre length weighted composited
into the
interpreted mineralized blocks by ordinary kriging using parameters
established
from analysis of the variography within each domain. Based on the
variographic
analysis search ellipses were created to enable a three pass
approach to
interpolate gold grades into the blocks. Minimum and maximum
numbers of
composites were set to 2 and 12 per block respectively utilizing a top
cut of
58 grams per ton. Discretization was set to 2 x 2 x 1. Density factor of
2.78
grams/cc were assigned to the mineralized veins based on 10
measurements of
specific gravity performed by BonTerra.
Snowden has applied an inferred classification to all blocks in the
mineral
resource. Snowden has not classified any measured blocks after
considering the
relatively short ranges of gold grade continuity, the current drill
hole
spacing, the relatively high nugget environment, and use of assigned
densities.
Mineral resources are not mineral reserves and do not have demonstrated
economic
viability. There is no certainty that all or any part of the mineral
resource
will be converted into mineral reserves. In the above mineral resource
table
there may be inconsistencies due to rounding. Estimates are rounded
since the
figures are not precise calculations.
About BonTerra Resources
BonTerra is a Canadian gold exploration company based in Vancouver, BC.
BonTerra
is focused on continuing to expand the drill defined gold zones on its
Eastern
Extension property, part of the world famous Abitibi Greenstone Belt in
mining
friendly Quebec. BonTerra has a total of three gold properties in the
Urban-Barry belt, the Eastern Extension, Lavoie and Urban-Barry
properties which are
all located approximately 170 km NE of Val-d'Or and 125 km SW of
Chibougamau in
the Urban, Barry and Bailly townships in Québec.
The Company owns 100% of the Property subject to a 2% NSR which is held by
three
individuals, 1% of this NSR can be purchased for a sum of $500,000.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/Thomas Clarke
Thomas Clarke
Director
(604) 678-5308
This press release contains projections and forward-looking information
that
involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements
based on current
expectations involving a number of risks and uncertainties and are
not
guarantees of future performance of the Company, such as the statement
that: (i)
the Company intends to file a NI 43-101 Technical Report with respect
to the
inferred resource calculation within 45 days of the press release;
(ii) the
Company intends to undertake additional drilling to upgrade the
existing
inferred resource calculation into the indicated category and to
increase the
existing inferred mineral resource; and (iii) management believes
there is
potential for expansion with further drilling as the resource is open
to the
northeast, southwest and down dip. There are numerous risks and
uncertainties
that could cause actual results and the Company's plans and objectives to
differ
materially from those expressed in the
forward-looking information, including:
(i) adverse market conditions; (ii) delays with respect to drilling and
receipt
of drill results; (iii) delays with respect to finalizing the Technical
Report
for filing on SEDAR and regulatory reviews and comments related to
same; and
(iv) general uncertainties with respect to mineral exploration in
general.
Actual results and future events could differ materially from those
anticipated
in such information. These and all subsequent written and oral
forward-looking
information are based on estimates and opinions of management on the dates
they
are made and are expressly qualified in their entirety by this notice.
Except as
required by law, the Company does not intend to update these
forward-looking
statements.
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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: BonTerra Resources Inc. via Thomson Reuters ONE
[HUG#1619545]
For further information contact:
Navjit Dhaliwal
Email Contact
www.bonterraresources.com
Tel: (604) 678-5308