Thursday 23rd February 2017

Resource Clips


Posts tagged ‘BonTerra Resources Inc (BTR)’

Update: BonTerra Resources increases financings—again—to nearly $15 million

February 13th, 2017

by Greg Klein | February 13, 2017

What started as a $6-million bought deal for BonTerra Resources TSXV:BTR has been raised three times—twice in one day—for gross proceeds of $13.97 million, in addition to a non-brokered $1.02 million.

The company first announced the bought deal at $6 million on February 6. Just one day later the amount increased to $9.39 million. The morning of February 13, the bought deal hit $12.9 million as BonTerra also announced the non-brokered private placement. Hours later the $12.9 million got a “final” increase to $13.97 million. Gross proceeds of both offers come to $14,999,600.

Acting as lead underwriter will be Sprott Capital Partners, a division of Sprott Private Wealth LP, along with underwriter INFOR Financial Inc. The news comes as BonTerra readies a third rig for its Gladiator drill campaign in Quebec’s Abitibi region.

BonTerra Resources increases bought deal to $12.9 million, adds non-brokered $1 million

Additional financing will back BonTerra’s ambitious drill program.

The bought deal consists of 11 million flow-through shares at $0.35 and 36.16 million shares at $0.28. The non-brokered placement offers 3.66 million shares at $0.28. The parties anticipate closing by March 2.

On February 2 BonTerra released results from two holes drilled last year on Gladiator, which currently has two rigs busy and a third waiting to join in. Hole BA-16-47 intersected the project’s Main zone as well as a new zone south of the deposit, with highlights showing:

  • 5.6 g/t gold over 1 metre, starting at 254 metres in downhole depth (Main zone)

  • 2 g/t over 3 metres, starting at 376 metres (New zone)

BA-16-48 delivered these results:

  • 14.9 g/t gold over 1 metre, starting at 358 metres (Footwall zone)

  • 16.8 g/t over 3.8 metres, starting at 394 metres (Main zone)

True widths weren’t available.

Two days earlier the company released three intervals from this year’s first hole, with assays as high as 15.7 g/t over 8.5 metres. As the 25,000-metre program continues, BonTerra hopes to connect zones across a 1.2-kilometre potential strike.

A 2012 resource estimate used a 4 g/t cutoff to show an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces. An update could be completed this spring or summer.

BonTerra also holds the Larder Lake project in Ontario, which hosts two historic, non-43-101 deposits. The Bear Lake estimate came to 683,000 gold ounces inferred, while the Cheminis estimate showed 43,800 gold ounces indicated and 233,400 ounces inferred. With an additional 25,000 metres drilled by Gold Fields NYSE:GFI to consider, BonTerra has a new 43-101 in preparation.

Read more about BonTerra Resources.

Updated: BonTerra Resources bought deal increases from $6 million to $9.39 million, follows high-grade gold assays

February 6th, 2017

This story has been updated and moved here.

BonTerra Resources hits 15.7 g/t gold over 8.5 metres in Abitibi stepout drilling

January 31st, 2017

by Greg Klein | January 31, 2017

With the year’s first stepout hole to the east, BonTerra Resources TSXV:BTR announced three gold intercepts on January 31 from its Abitibi-region Gladiator project. The first interval revealed a new zone, the company stated, while the two deeper intercepts marked the 7,563-hectare property’s Main and Footwall zones, near the contact between mafic volcanic units and a mineralized felsic porphyritic intrusive. Results for hole BA-17-01 show:

  • 1.6 g/t gold over 10 metres, starting at 262 metres in downhole depth

  • 15.7 g/t over 8.5 metres, starting at 367 metres

  • 20.7 g/t over 5 metres, starting at 566 metres
BonTerra Resources hits 15.7 g/t gold over 8.5 metres in Abitibi stepout drilling

A placid camp contrasts with strenuous
activity elsewhere on the Gladiator property.

True widths weren’t available.

Gladiator’s 2012 resource used a 4 g/t cutoff to show an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces of gold. Last year’s campaign expanded the known mineralization from about 200 metres long and 200 metres deep to about 1,200 metres long and 650 metres deep. With two rigs now at work and a third waiting for suitable ice conditions, a resource update could arrive in spring or summer. The 2016-2017 campaign calls for about 25,000 metres of drilling.

Just over the Ontario border, BonTerra’s Larder Lake project has two historic, non-43-101 estimates, with Bear Lake showing 683,000 ounces of gold inferred, and Cheminis 43,800 ounces of gold indicated and 233,400 ounces inferred. The company is compiling a new 43-101 incorporating another 25,000 metres drilled by Gold Fields NYSE:GFI since the historic estimates.

Read more about BonTerra Resources.

BonTerra Resources hits 64.3 g/t gold over 2 metres, adds 500 metres to strike in Abitibi

December 9th, 2016

by Greg Klein | December 9, 2016

Two high-grade intercepts in separate holes merge two zones, taking BonTerra Resources’ (TSXV:BTR) Gladiator project to 1.2 kilometres in strike. Once considered a parallel body, the Rivage zone now forms a 500-metre addition to Gladiator, which has been outlined to a depth of 650 metres, the company reported December 8. A previously stated ambition to combine the zones was realized with the first two holes targeting the gap.

The two intercepts show:

Hole BA-16-40

  • 64.3 g/t gold over 2 metres, starting at 152 metres in downhole depth

BA-16-42

  • 8.7 g/t over 3 metres, starting at 507 metres
BonTerra Resources hits 64.3 g/t gold over 2 metres, adds 500 metres to strike in Abitibi

Two rigs will work through the winter
on BonTerra’s 25,000-metre campaign.

True widths weren’t provided.

These assays follow a high-grade batch released last month, featuring one intercept of 70 g/t gold over 5.5 metres. With two rigs now in action, drilling continues on a program of up to 25,000 metres that’s slated to continue through winter.

The 7,563-hectare property has a 2012 resource estimate using a 4 g/t cutoff to show:

  • inferred: 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold

BonTerra’s Larder Lake project in Ontario’s Cadillac-Larder Lake fault zone hosts two deposits with resources that the company considers historic, non-43-101:

Bear Lake

  • inferred: 3.75 million tonnes averaging 5.7 g/t for 683,000 ounces gold

Cheminis

  • indicated: 335,000 tonnes averaging 4.07 g/t for 43,800 ounces gold

  • inferred: 1.39 million tonnes averaging 5.2 g/t for 233,400 ounces

Another 59 holes totalling over 25,000 metres were drilled since the historic estimate, giving BonTerra data to evaluate for an updated resource.

Read more about BonTerra Resources.

Absolutely Abitibi

November 18th, 2016

BonTerra Resources gets aggressive in Quebec gold country

by Greg Klein

BonTerra Resources gets aggressive in Quebec’s gold country

A diagram shows how far the company has progressed
beyond the 2012 resource area, outlined in blue.

 

With a standout interval of 70 grams per tonne gold over 5.5 metres, BonTerra Resources’ (TSXV:BTR) November 16 batch of assays brought further evidence of a good Abitibi address. As president/CEO Nav Dhaliwal emphasizes, “This is all new drilling, well outside the resource area, and we’re going to continue expanding.” Primed with enthusiasm, financing and a better understanding of the geology, BonTerra now hopes to connect its Gladiator project’s zones across a potential strike length of 1,200 metres.

Some highlights from the most recent seven holes show:

Hole BA-16-26

  • 19.6 g/t gold over 1 metre, starting at 412 metres in downhole depth

BA-16-30

  • 4.7 g/t over 3 metres, starting at 370 metres

BA-16-38

  • 12.4 g/t over 4 metres, starting at 769 metres
  • (including 24.3 g/t over 2 metres)

BA-16-39

  • 1.5 g/t over 10 metres, starting at 723 metres

  • 70 g/t over 5.5 metres, starting at 813.5 metres
  • (including 191.4 g/t over 2 metres)

  • 3.1 g/t over 5 metres, starting at 846 metres

True widths weren’t available.

BonTerra Resources gets aggressive in Quebec’s gold country

A cold climate will complement Bonterra Resources’ drill campaign.

The drill season started on a 600-metre strike reached last May with an intercept of 137.4 g/t over 2.5 metres. This week BA-16-39 revealed its star interval at the eastern extent of the east-plunging structure, below 600 metres in vertical depth. BA-16-38 extended the zone another 50 metres deeper and 100 metres to the east. That outlines Gladiator’s zones to 650 metres in depth and 700 metres in strike. Meanwhile, assays are pending for other completed holes.

But as Dhaliwal says, “We’re not stopping there.” Now with a second rig at work, drilling will sink deeper, as well as farther east and west. Should the program succeed in connecting the eastern zones with the Rivage zone, currently over 300 metres away, the 7,563-hectare property would have the potential 1.2-kilometre strike.

With a 4 g/t cutoff, Gladiator’s 2012 resource estimate shows:

  • inferred: 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold

A resource update might arrive in late spring or early summer, Dhaliwal says. Well into a 25,000-metre 2016 program, drilling will continue through the winter. “That’s the most efficient time to work,” he points out. “This property is covered in a foot to six feet of water. Right now we’re land-based, so we’re shooting down towards it. So winter gives us an advantage, we’ll be able to get right on top of the structure.”

Describing the crew as “lean and mean,” Dhaliwal adds, “I couldn’t be prouder of our geological team, headed by a very experienced individual, Dale Ginn.” The VP of exploration’s more than 30-year career includes service with Kerr Mines, SGX Resources, San Gold, Harmony Gold Canada, Hudson Bay Mining and Smelting, and Goldcorp TSX:G, among others.

Last winter’s relative warmth limited BonTerra to about 20 holes, but Dhaliwal’s hoping this year’s temperatures favour a more aggressive campaign.

Looking southwest from Gladiator’s position on the Casa Berardi fault zone to the Cadillac-Larder Lake fault zone just inside Ontario, BonTerra holds the 2,165-hectare Larder Lake project. The property came with estimates, which BonTerra treats as historic and non-43-101, for two deposits just over a kilometre apart. Using 2.5 g/t gold cutoffs, they show:

Bear Lake

  • inferred: 3.75 million tonnes averaging 5.7 g/t for 683,000 ounces gold

Cheminis

  • indicated: 335,000 tonnes averaging 4.07 g/t for 43,800 ounces gold

  • inferred: 1.39 million tonnes averaging 5.2 g/t for 233,400 ounces

As a past-producer, Cheminis reportedly turned out 7.6 million gold ounces at an average 3.7 g/t from depths to 315 metres.

The historic estimates predate some 59 holes totalling over 25,000 metres sunk by Gold Fields NYSE:GFI. Dhaliwal says the South African miner worked the property up to 2012, when the company slashed international exploration spending. “They left just under $6 million of work—of clean work, mind you. We’ve seen the logs and core. Dale’s hired a project manager for the Ontario side and we’ll get started on a 43-101.”

The property’s Fernland area adds a third mineralized body, with all three open at depth and within a 3.2-kilometre potential strike.

While talking about either property, Dhaliwal at times can barely contain his enthusiasm. Financing suggests he’s hardly alone in his confidence. Between December 2015 and last June, the company raised over $10.38 million. “We’re fully cashed up and we’re moving forward so stay tuned—we’re going to show you more.”

See an infographic about BonTerra Resources.

Infographic: BonTerra Resources well-financed for more Abitibi drilling

October 4th, 2016

October 4, 2016

With two Abitibi gold projects and recent financings totalling $5.36 million, BonTerra Resources TSXV:BTR prepares for another season of drilling. This infographic outlines the company’s projects, achievements and future plans.

BonTerra Resources financed for more Abitibi drilling

BonTerra reports Quebec Gold Assays including 2.07 g/t over 6m

April 18th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningBonTerra Resources Inc TSXV:BTR announced assay results from its Eastern Extension property in Quebec. Highlights include

2.29 g/t gold over 3 metres
1.28 g/t over 1 metre
4.47 g/t over 1 metre
0.97 g/t over 19 metres (including 4.13 g/t over 4 metres)
1.39 g/t over 8 metres (including 7.86 g/t over 1 metre)
1.56 g/t over 1 metre
1.4 g/t over 1 metre
1.63 g/t over 1 metre
2.07 g/t over 6 metres (including 3.74 g/t over 3 metres)

President Navjit Dhaliwal remarked, “The second drill hole of 2012 continues to encourage BonTerra and further outlines the high caliber of the property. Our team has wanted to drill a hole in this area for some time now and favourable ice conditions allowed us to drill this target this past March. This hole is yet another ‘textbook example’ of vein-hosted gold in the Abitibi, commonly intersected on the Eastern Extension. Holes like this encourage us to keep drilling and to advance this exciting property forward to its first anticipated NI 43-101 resource calculation which is in the final stages of completion by Snowden.”

View Company Profile

Contact:
Navjit Dhaliwal
President/Director
604.678.5308

by Ted Niles

BonTerra reports Quebec Gold Results including 4.31 g/t over 14m

December 16th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningBonTerra Resources Inc TSXV:BTR announced assays from its Eastern Extension Property in the Abitibi Greenstone Belt of Quebec. Highlights include

4.31 g/t gold over 14 metres
(including 18.91 g/t over 2.8 metres)
29.8 g/t over 1 metre
7.32 g/t over 1 metre
5.59 g/t over 1 metre

President Mitchell Adam remarked, “Intercepting gold mineralization to approximately 600 vertical metres of depth in this hole is the latest in a list of drilling successes for BonTerra on our Eastern Extension Gold Property. Having done a Mag survey and IP survey last season bodes very well for winter ice drilling on this target, which may add to the size and scope of the potential of the project.”

View Company Profile

Contact:
BonTerra Resources Inc
604.678.5308
855.678.5308

by Greg Klein

BonTerra, Abitex report Quebec Gold Assays as high as 6.67 g/t over 7m

November 21st, 2011

Resource Clips - essential news on junior gold mining and junior silver mining

(Update: On April 16, 2013, Abitex Resources Inc began trading as ABE Resources Inc TSXV:ABE.)

BonTerra Resources Inc TSXV:BTR in joint venture with Abitex Resources Inc TSXV:ABE announced results from the Eastern Extension property in Quebec. Assays include

3.36 g/t gold over 1 metre
6.89 g/t over 2 metres (including 11.55 g/t over 1 metre)
4.29 g/t over 2 metres (including 7.66 g/t over 1 metre)
1.53 g/t over 6 metres
3.57 g/t over 7 metres (including 15.25 g/t over 1 metre)
6.67 g/t over 7 metres (including 44.8 g/t over 1 metre)
2.49 g/t over 3 metres
2.18 g/t over 1 metre

BonTerra has an option to earn 100% of the Eastern Extension property from Abitex Resources subject to a 2% NSR. The Eastern Extension property is located in the Urban-Barry gold camp, which also hosts Metanor Resources Inc’s TSXV:MTO Barry Mine property and Eagle Hill Exploration Corporation’s TSXV:EAG Windfall Lake property.

View Company Profile

Contact:
BonTerra Resources Inc
604.678.5308

by Ted Niles

BonTerra reports Quebec Gold Assays including 1.02 g/t over 36.5m

October 19th, 2011

Resource Clips - essential news on junior gold mining and junior silver mining

(Update: On April 16, 2013, Abitex Resources Inc began trading as ABE Resources Inc TSXV:ABE.)

BonTerra Resources Inc TSXV:BTR announced results from its Eastern Extension Property in the Abitibi Greenstone Belt of Quebec. Highlights include

1.02 g/t gold over 36.5 metres
(including 5.25 g/t over 6.2 metres)
2.06 g/t over 12.5 metres
(including 25.4 g/t over 1 metre)
2.68 g/t over 6.7 metres
(including 32.4 g/t over 0.5 metres)
8.89 g/t over 1 metre

BonTerra has an option to earn 100% of the property from Abitex Resources Inc TSXV:ABE subject to a 2% NSR.

BonTerra President/Director Mitchell Adam remarked, “BonTerra continues to assay drill holes with significant gold mineralization. We believe that the cumulative total of all this drilling will begin to add considerable value for our shareholders.”

View Company Profile

Contact:
Mitchell Adam
President/Director
604.678.5308
855.678.5308

by Greg Klein