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 September 2016, Barry reported a Measured and Indicated gold resource of 8.9 Mt at a grade of 1.0 g/t containing 282 kozs of gold, as well as an Inferred Resource of 659 kozs of gold based on 20.7 Mt of mineralized material at a grade of 1.0 g/t (0.4 g/t cut-off ). An updated mineral resource estimate is expected by the end of 2018

Recent Activities

October 2018
Bonterra announced a C$20 million private placement to finance the Urban-Barry mill expansion and for continued development and exploration at Barry and their other projects in Québec.

June 2018
In preparation for the bulk sample program and access to underground drill bays, the development of the Barry ramp is progressing and on schedule with approximately 130 metres completed.

April 2018
Approximately 9,600 metres were drilled at the Barry project in the first quarter of 2018. Step-out drilling extended the Main Zone at depth with intercepts including 1.7 meters of 21.2 g/t gold from 184.9 metres and 1.5 meters of 24.7 g/t gold from 180.1 metres. Additional high-grade intercepts were obtained at the Bart zone located 3.5 kilometers west of the Barry resource and included 1.5 meters of 18.9 g/t gold from 150.4 metres.

Barry

 

Barry Royalty MapBarry Royalty Map