Operator

Bonterra Resources Inc.

Terms

3.9% NSR
0.5-1.0% NSR

Acquisition Date

2017 / Sep / 29
2015 / Apr / 28

The Barry project is located in the Urban-Barry mining camp 110 km east of the city of Lebel-sur-Quévillon in Québec. The region has been the focus of significant exploration activity including the ongoing 800,000 metre drill program at Osisko Mining’s Windfall project, adjacent to the Barry property.

The Barry deposit is structurally controlled with gold mineralization contained in a system of veins associated with sheared zones included in a wide deformation corridor. Mineralization has been identified 1,300 metres along strike and to 600 metres at depth and coincides with strong IP anomalies occurring in volcanic units throughout the property. The deposit remains open in all directions.

Bonterra is developing an underground ramp and plans to mine ore from Barry and the nearby Moroy and Gladiator deposits to feed the Urban-Barry mill. The mill’s processing capacity is being expanded to 2,400 tpd and Barry is expected to contribute 900 tpd of mill feed at an average grade of 7.0 g/t gold for annual production of about 72,000 ounces of gold. Initial production is expected during the second half of 2019.

In May 2019, Bonterra reported a Mineral Resource Estimate of 2.1 Mt at a grade of 5.8 g/t gold containing 385 kozs of gold in the Indicated category, and an Inferred Resource of 2.7 Mt at a grade of 5.1 g/t gold containing 453 kozs of gold (cut-off grade of 3.5 g/t gold).

Recent Activities

October 2019
Bonterra announced a company-wide mineral resource estimate in May 2019 for all Urban Barry exploration assets including the Gladiator, Moroy and Barry deposits. The combined mineral resource estimate is part of Bonterra’s strategy to fast track development of the three deposits simultaneously and to optimize feed to the Urban Barry Mill over the life of the three mines.

August 2019
Bonterra announced a C$32 million private placement to finance on-going exploration and development work on its properties.

March 2019
Definition drilling consisting of 7,548 metres has confirmed location and grade of the gold-bearing zones at Barry and results will be used for the planning of a proposed bulk sample.

Highlights include:

  • BR18-03: 13.4 g/t gold over 3.2 metres from 307.4 metres;
  • BR18-05: 8.2 g/t gold over 5.3 metres from 278.2 metres; and
  • BR19-25: 15.5 g/t gold over 4.5 metres from 194.8 metres

Barry

 

Barry Royalty MapBarry Royalty Map