Monday 21st August 2017

Resource Clips


Posts tagged ‘Osisko Mining Corp (OSK)’

Another $20 million boosts BonTerra Resources as multiple drills target Gladiator

June 30th, 2017

by Greg Klein | June 30, 2017

Obviously some people like what they see in BonTerra Resources’ (TSXV:BTR) Gladiator gold project in Quebec. Raising an amount just $120 shy of $20 million, the company announced the closing of its most recent private placement on June 30. This financing began with a $12.9-million bought deal earlier in the month. Eleven days later BonTerra increased the offer to $19,999,880.

Another $20 million boosts BonTerra Resources as multiple drills target Gladiator

Results from Gladiator’s aggressive drill campaign
brought BonTerra another large cash infusion.

With Sprott Capital Partners acting as lead underwriter, Eric Sprott came in for another $2.3 million, building his indirect ownership of BonTerra from 8.9% to approximately 10.04% of outstanding shares.

In a nearly $14-million placement that closed in early March, Sprott participated to the tune of $3.89 million. Later that month another private placement brought in $1.02 million. March didn’t end until the company attracted another $5.2 million in a strategic investment by Kinross Gold TSX:K.

The main attraction is BonTerra’s 8,126-hectare property in Quebec’s Urban-Barry camp, host to Osisko Mining’s (TSX:OSK) Windfall project and an area that Osisko believes has district potential. BonTerra has multiple rigs working on a 40,000-metre campaign, focusing on resource expansion and especially targeting a 600-metre gap separating the Gladiator deposit from the Rivage zone to the west.

Assays for three holes released in early June included one hole that confirmed the project’s new South zone, while other intercepts extended other zones west of the deposit. The project has been drilled to 850 metres in depth and 1.2 kilometres in strike, leaving it open in all directions.

The results build anticipation for an update to the 2012 resource which, using a 4 g/t cutoff, showed an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold.

In Ontario’s Cadillac/Larder Lake break, meanwhile, BonTerra intends to bring two historic estimates from 2011 up to 43-101 standards. The Larder Lake project’s Bear Lake deposit has a non-43-101 inferred resource of 3.7 million tonnes averaging 5.7 g/t for 683,000 gold ounces. The Cheminis deposit hosts a non-43-101 estimate with an indicated category of 335,000 tonnes averaging 4.1 g/t for 43,800 gold ounces and an inferred 1.39 million tonnes averaging 5.2 g/t for 233,400 ounces.

Read more about BonTerra Resources.

New gold zone helps BonTerra Resources establish continuity at Gladiator

June 6th, 2017

by Greg Klein | June 6, 2017

Known as the Rivage Gap, some 600 intriguing metres separating BonTerra Resources’ (TSXV:BTR) Gladiator deposit and the Rivage zone to the west has been a focus of current drilling. Now assays reveal a new zone south and west of the deposit that could help close the gap.

BonTerra has committed at least four rigs to sink up to 40,000 metres on its 8,126-hectare property that’s adding to the excitement that Osisko Mining’s (TSX:OSK) Windfall project has generated in Quebec’s Urban-Barry camp.

BonTerra announced results for three holes on June 6, showing:

Hole BA-17-06

  • 7.1 g/t gold over 1 metre, starting at 37 metres in downhole depth (Footwall zone)

  • 1.4 g/t over 2 metres, starting at 477 metres (Main zone)

BA-17-11

  • 12.7 g/t over 3.6 metres, starting at 424 metres (Main zone)

BA-17-12

  • 11.1 g/t over 2 metres, starting at 17 metres (Main zone)

  • 3.5 g/t over 2 metres, starting at 32 metres (Mid zone)

  • 8.8 g/t over 3 metres, starting at 346.7 metres (new South zone)
New gold zone helps BonTerra Resources establish continuity at Gladiator

With at least four rigs in action, BonTerra
Resources keeps its Gladiator camp busy.

True widths were estimated between 60% and 80%.

BA-17-12, “the most predominant and westerly hole,” was the fourth hole so far to hit the new South zone, which has approximately 500 metres in strike. Drilling has also extended other zones to the west, with the Main and Footwall zones reaching over one kilometre each in strike. Gladiator itself has been drilled to 850 metres in depth and 1.2 kilometres in strike, remaining open in all directions.

That outlines Gladiator well beyond its 2012 resource which, using a 4 g/t cutoff, showed an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold.

Apart from the Rivage Gap, drilling also targets the Deep East zone and additional areas described as “large gaps or voids with currently little drill information.”

The assays follow a batch released in mid-May, strengthening the presence of four other areas in the gap, the North, Footwall, Porphyry/Main and Mid zones. Footwall gave up a standout intercept of 10 g/t gold over 4 metres, while North followed closely with 9.5 g/t over 4.2 metres.

In March BonTerra optioned Durango Resources’ (TSXV:DGO) Trove property, described as a direct extension of the Gladiator/Coliseum southwest mineralized trend.

Financings in February and March raked in $5.2 million from Kinross Gold TSX:K, as well as nearly $15 million that came with the participation of Sprott Capital Partners.

In Ontario’s Cadillac-Larder Lake fault zone, meanwhile, BonTerra has drilling planned to update historic, non-43-101 resources. VP of exploration Dale Ginn believes three historic deposits could comprise a single deposit.

Read more about BonTerra Resources.

High-grade gold helps BonTerra Resources close the Rivage gap

May 16th, 2017

by Greg Klein | May 16, 2017

With a goal of demonstrating continuity along a 1.2-kilometre potential strike—and maybe stealing some of Osisko Mining’s (TSX:OSK) Urban Barry glory—BonTerra Resources TSXV:BTR released another batch of high-grade assays May 16. Results so far show the Gladiator deposit open in all directions but much of the drilling has focused on closing its gap with the Rivage zone to the west.

Intercepts released for the Rivage gap’s four zones show:

Hole BA-17-04

  • 9.5 g/t gold over 4.2 metres, starting at 88.8 metres in downhole depth, North zone

  • 10 g/t over 4 metres, starting at 233 metres, Footwall zone

  • 1.4 g/t over 25 metres, starting at 272 metres, Porphyry/Main zone
  • (including 3.6 g/t over 3 metres)
High-grade gold helps BonTerra Resources fill the Rivage gap

Fortified by money and high grades, BonTerra Resources
plans up to 40,000 metres for Gladiator’s current program.

BA-17-07

  • 12 g/t over 3 metres, starting at 355 metres, Main zone

BA-17-08

  • 7.5 g/t over 1 metre, starting at 210 metres, North zone

  • 8 g/t over 1 metre, starting at 264 metres, Mid zone

  • 6.4 g/t over 1.8 metres, starting at 300.2 metres, Footwall zone

  • 3.4 g/t over 5.7 metres, starting at 390 metres, Main zone

BA-17-09

  • 9 g/t over 1.8 metres, starting at 67 metres, Footwall zone

BA-17-10

  • 5.6 g/t over 1.5 metres, starting at 177.5 metres, North zone

  • 8.4 g/t over 3.5 metres, starting at 198.5 metres, Footwall zone

  • 5.2 g/t over 2.5 metres, starting at 212.5 metres, Mid zone

  • 5.3 g/t over 2 metres, starting at 237 metres, Main zone

True widths were estimated between 60% and 80%.

Continued high grades add to the anticipation of an update to Gladiator’s 2012 resource, which used a 4 g/t cutoff to show an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold.

With up to 40,000 metres planned for this campaign, drilling has so far hit multiple high-grade intercepts between Gladiator and Rivage, confirmed over one kilometre in strike for each of the Main and Footwall zones, and sought extensions of the Gladiator deposit to 850 metres in depth and 1.2 kilometres in strike, BonTerra stated. Drilling also focuses on the Deep East zone “and within large gaps or voids with currently little drill information” on the 8,126-hectare property.

In late March the company took out a 100% option on Durango Resources’ (TSXV:DGO) Trove property, which BonTerra described as a direct extension of its Gladiator/Coliseum southwest mineralized trend.

A few days earlier the company gained another large cash injection, this one a $5.2-million private placement that gave Kinross Gold TSX:K an approximately 9.5% stake in BonTerra. That followed nearly $15 million raised over February and March with the participation of Sprott Capital Partners.

BonTerra also holds the 2,165-hectare Larder Lake gold project in Ontario’s Cadillac-Larder Lake fault zone, where drilling’s planned to bring historic, non-43-101 resources for two zones up to date.

Read more about BonTerra Resources.

BonTerra Resources expands its land in Urban Barry and Larder Lake

March 16th, 2017

by Greg Klein | March 16, 2017

Growing an already major position in the Windfall Lake-inspired Urban Barry area play, BonTerra Resources TSXV:BTR announced additional property acquisitions March 15. Among them is Thubiere, northwest of the company’s Arena property and surrounded by Osisko Mining TSX:OSK turf.

BonTerra Resources expands its land in Urban Barry and Larder Lake

BonTerra’s Gladiator project consists of the
West Arena, East Arena and Coliseum properties.

One day previously BonTerra closed a $1-million private placement, bringing the March total to about $15 million. Obviously well-funded, the company has three rigs working a program of up to 40,000 metres at its nearby Gladiator gold project. Recent results have graded up to 16.8 g/t gold over 3.8 metres and 15.7 g/t over 8.5 metres as the company endeavours to connect zones across a 1.2-kilometre potential strike.

BonTerra describes the 338-hectare Thubiere property as poorly explored, despite historic, non-43-101 assays grading 13.7 g/t gold over 1.2 metres, 10.98 g/t over 1.83 metres and 74.8 g/t over 0.61 metres.

The historic work “strongly supports a pattern of future exploration along the main fault and specifically in areas where porphyritic felsic intrusives are recorded to exist,” BonTerra stated. “This gold-fault-felsic intrusive association is beginning to emerge as a useful gold pathfinder [in the] Urban Barry greenstone belt of Quebec, based on recent discoveries.”

The company staked four new claims north of its Gladiator project’s Lacroix Lake block and intends to buy another 226 contiguous hectares.

In Ontario, BonTerra signed a purchase agreement for another 56-hectare claim proximal to the company’s Larder Lake gold project, currently active with 25,000 metres of resource development and exploration.

Subject to approvals, Thubiere’s price tag comes to $5,000 and 150,000 shares. The 226 hectares north of Lacroix would cost $10,000 and 150,000 shares. The Larder Lake addition calls for 100,000 shares and a 2% NSR, half of which may be subject to a $750,000 buy-back.

Due for updates are the Gladiator and Larder Lake resources. Gladiator’s 2012 estimate used a 4 g/t cutoff to show 905,000 tonnes averaging 9.37 g/t for 273,000 gold ounces inferred.

Historic, non-43-101 estimates at Larder Lake give the Bear Lake deposit 683,000 gold ounces inferred, and the Cheminis deposit 43,800 gold ounces indicated and 233,400 ounces inferred.

Read more about BonTerra Resources.

BonTerra Resources closes $14-million bought deal to fund Windfall Lake-area drilling

March 2nd, 2017

by Greg Klein | March 2, 2017

Clearly Osisko Mining’s (TSX:OSK) not the only company attracting money to the region. BonTerra Resources’ (TSXV:BTR) private placement began with a $6-million offer early last month that was raised three times to close March 2 at $13.97 million. That’s not including a non-brokered $1.02 million expected to close mid-month.

BonTerra Resources closes $14-million bought deal to fund Windfall-area drilling

A fresh financing supports BonTerra’s quest for high-grade gold.

The news follows $82 million in financings that Osisko closed on February 28. BonTerra’s Gladiator project sits about six kilometres south of Windfall Lake, where Osisko’s high-grade gold has attracted a busy area play to the Abitibi’s Urban Barry greenstone belt. Among other companies in the area, Beaufield Resources TSXV:BFD closed a $6-million bought deal a week earlier.

Acting as lead underwriter for BonTerra was Sprott Capital Partners, a division of Sprott Private Wealth LP. Eric Sprott invested $3.89 million, raising his stake in BonTerra from 0.3% to about 10.3%.

Assays reported last month from Gladiator reached as high as 16.8 g/t gold over 3.8 metres, which followed a standout of 15.7 g/t over 8.5 metres released two days earlier. The company hopes to connect zones across a 1.2-kilometre potential strike and update the resource. The 2012 inferred category came to 905,000 tonnes averaging 9.37 g/t for 273,000 gold ounces at a 4 g/t cutoff. The deposit remains open in all directions.

BonTerra’s Larder Lake project in Ontario features two historic, non-43-101 resources: Bear Lake with 683,000 gold ounces inferred, and Cheminis with 43,800 gold ounces indicated and 233,400 ounces inferred. Larder Lake has a 43-101 underway, incorporating another 25,000 metres of drilling.

Read more about BonTerra Resources.

April 16th, 2014

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March 21st, 2014

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Michael Gray: Is Goldcorp’s bid for Osisko a harbinger of a gold renaissance? Streetwise Reports
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March 20th, 2014

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Michael Gray: Is Goldcorp’s bid for Osisko a harbinger of a gold renaissance? Streetwise Reports
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East dominated M&A in 2013, expect overall uptick this year—PwC report

February 26th, 2014

by Ana Komnenic | February 26, 2014 | Reprinted by permission of MINING.com

East dominated M&A in 2013, expect overall uptick this year—PwC report

 

The bad news first: 2013 was the worst year for mergers and acquisitions in recent history, with the volume of deals dropping 33% to the lowest level since 2005.

Now for the good news: According to PricewaterhouseCoopers’ latest Global Mining Deals report, the mining industry can expect an uptick in M&A throughout 2014.

Though these deals will be “smarter, more conservative,” 2014 will be characterized by joint ventures, mid-tier buyers and more mergers or sales from juniors, PwC predicts. The gold price drop will also make buying gold assets more appealing—especially in Canada.

“You aren’t going to see the big dollars in riskier jurisdictions,” PwC wrote, quoting Brett Mattison of Gold Fields NYE:GFI.

As evidence of a strong start to the year, PwC points to Goldcorp’s TSX:G hostile takeover bid for Osisko TSX:OSK—though Osisko has called the offer “opportunistic” and some say Goldcorp is trying to take advantage of a weak gold market.

“The turnaround won’t mirror the surge in movement we saw back in 2011, but expect deal making to resurface in most parts of the world this year as both an opportunity and in some cases a necessity for companies across the sector,” PwC global mining leader John Gravelle said in a statement.

“Companies have been cleaning up their balance sheets and putting off decisions, waiting for the right time to act—that timing is near.”

Overall, PwC expects deal activity to increase this year—reaping “long-term gain” from “short-term pain.”

While it’s well known that M&A dropped off in a big way last year, PwC revealed something new in its latest report: The Eastern world dominated M&A activity last year. In fact, “the East accounted for nearly half of the deals by value in 2013, or about 45%, while the West represented about 36%,” PwC wrote.

East dominated M&A in 2013, expect overall uptick this year—PwC report

“Looking ahead, many Western-based majors are still going to wait for commodity prices to stabilize, concentrating on cash costs, rationalizing their assets and trying to divest assets as a way to pay down debt and fund existing operations,” Gravelle said.

The rich and powerful from Russia and Kazakhstan in particular bought up assets while major mining companies such as Rio Tinto NYE:RIO and Barrick TSX:ABX were selling.

The biggest deal of 2013 was in Russia, where Gavril Yushvaev and Zelimkhan Mutsoev purchased nearly half of Polyus Gold from billionaire Mikhail Prokhorov.

Reprinted by permission of MINING.com

January 14th, 2014

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