VANCOUVER – Bonterra Resources Inc. [BTR-TSXV, BONXF-OTC, 9BR1-FSE] on Wednesday released new exploration results from a regional drilling campaign on the Moss property, which is located in the Urban Barry mining camp in Quebec, where the company has rights to more than 38,000 hectares.
Drilling highlights include 6.4 g/t gold over 1.5 metres, including 18.9 g/t gold over 0.9 metres in hole UB-21-15.
Bonterra shares advanced on the news, rising 1.1% or $0.07 to $6.14. The shares currently trade in a 52-week range of $7.38 and $2.11.
The Moss property is part of a basket of assets in Quebec that Bonterra acquired when it snapped up Metanor Resources Inc. two years ago in a $78 million deal. The plan was to create a new gold exploration and development company with a focus on the Urban Barry mining camp.
The company has four main assets, Gladiator, Moroy, Barry and Bachelor that collectively have a total of 1.24 million ounces of gold in the measured and indicated categories and 1.78 million ounces in the inferred category.
Bonterra owns the only permitted and operational gold mill in the region that is currently estimated at 75% through the permitting process to expand from 800 tonnes per day to 2,400 tonnes. It is focused on graduating from advanced exploration to a development company over the next 18 to 24 months.
On Wednesday, the company said recent drilling results at Moss confirm the existence of high-grade gold mineralized veining in hole UB-21-15, which returned 6.4 g/t gold over 1.5 metres, including 18.9 g/t gold over 0.5 metres.
“These new high-grade exploration drilling results at Moss are very encouraging,’’ said Bonterra CEO Pascal Hamelin. “Moss is an important regional target that was first drill tested by the company in 2016,’’ he said. The discovery hole BE-16-09 returned 9.2 g/t gold over 2.2 metres and 70.9 g/t gold over 2.6 metres. “Importantly, Moss is open along strike and at depth and situated between the company’s Barry deposit and neighbouring Windfall deposit,’’ Hamelin said. “We currently plan to continue drill testing the Moss target area in the coming year.”
Bonterra has drilled 16 holes representing a total of 6,990 metres at Moss since September, 2021. Partial results from 12 drill holes have been received so far. Results from the remaining four holes are pending.
The recent exploration drilling targeted the expansion of existing gold mineralization interpreted to trend northeast from some key historic high-grade intersections in the Moss Center and Moss East areas. Mineralization at Moss consists of a system of sub-parallel mineralized veins trending northeast identified along a span of approximately 3.0 kilometres and remains open along strike and at depth.
The Moss mineralized trend is subdivided into three areas: Moss West, Moss Center and Moss East.