Bonterra Resources Begins Processing Material at its Bachelor Mill for its Bulk Sample and Provides Update on its Drill Program
In July 2020, the Company resumed mining of its 10,000 tonne bulk sample at the Moroy Project. The Moroy project is 900 metres south of the old Bachelor Mine, and the Company uses the underground infrastructure of the Bachelor Mine to access the Moroy Project. In August 2020, the Company emptied the old material inventory in the underground muck handling circuit to make room for the material coming from the bulk sample at Moroy. The old material was stockpiled in the silos, and on the ore pad on surface. On September 8, 2020, Bonterra began to process the material stored on surface from the old Bachelor Mine and will continue to process the old material until September 21, 2020.
On September 29, 2020, the Company plans to start processing the material from the bulk sample at Moroy and expects to complete the bulk sample around the end of October 2020. An independent consulting engineering firm is supervising the processing of the bulk sample at the Bachelor Mill. The consulting firm will produce a report after the bulk sample is completed. The company will publish the report once available, and it will be incorporated into an eventual preliminary economic assessment.
The bulk sample program at the Moroy project is being undertaken in order to verify the grade continuity within the mineralized structure and reconcile the resource grade to the recovered ounces following processing. The bulk sample is focused on the M1 shear zone on level 11,440 metres ("m") below surface. The M1 structure is sub-vertical and the company plans to extract it via a sub-level long-hole stoping method at 15 m intervals.
In July 2020, the Company announced the beginning of a 56,000 m drill campaign. The Company ramped up the campaign during July and August 2020, and now has seven diamond drill rigs fully staffed active on the projects. There are now six drill rigs between the Moroy, Barry, and Gladiator projects. The seventh drill rig is targeting potential sectors in the Desmaraisville camp just outside the Bachelor/Moroy area. The Company will add an eighth drill rig on regional targets in the Urban-Barry camp before the end of September 2020.
Pascal Hamelin, Interim CEO and VP, Operations commented: "I'm very happy to see that we have safely ramped up the rigs from zero to seven rigs in 6 weeks. With the selective assaying of the material from the bulk sample expected to be completed by the end of this month, we will be able to switch our assay lab's focus to our cut drill core assay backlog and release those results when available."
Francis Lefebvre, P.Geo and Assistant manager for the Company supervises all the activities on the Moroy project. Mr. Lefebvre is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI-43-101"). Pascal Hamelin, P.Eng., has approved the information contained in this release. Mr. Hamelin is a Qualified Person as defined by NI-43-101.
Gold Forums America, Virtual Conference - September 20 - 23, 2020
Presentation Webcast: September 20, 2020 at 1:50 pm EST
Registration link: https://www.denvergold.org/investor-qualification/
Webinar - September 24, 2020 at 11:00 am EST hosted by Adelaide Capital. Registration link: https://us02web.zoom.us/webinar/register/WN_laVZ3mNXQE6Hy_9uKA9aDA
FOR ADDITIONAL INFORMATION:
Pascal Hamelin, Interim CEO and VP Operations
2872 Sullivan Road, Suite 2, Val d'Or, Quebec J9P 0B9
819-825-8678 | Website: www.btrgold.com
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.
Cautionary and Forward-Looking Statements
This press release contains "forward-looking information" that is based on Bonterra's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Bonterra's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. This forward-looking information includes namely, information with respect to the planned exploration programs and the potential growth in mineral resources. Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit and such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets are conceptual in nature and, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Bonterra's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information.