The West Arena property lies near the middle of the Urban-Barry Greenstone Belt, approximately 170 km northeast of Val-d’Or, Québec. The property contains the Gladiator gold deposit where Bonterra’s exploration programs have been focused. Gladiator is described as a highly silicified and altered sheared mafic volcanic, locally exhibiting intrusions of syenite and quartz porphyry. Gold is found primarily in smokey quartzcarbonate and tourmaline veins ranging from 20 centimetres to 4 metres in width.
A Mineral Resource Estimate for the Gladiator deposit was published in May 2019 and contains 743 kt grading 8.5 g/t for 202,000 ounces of gold in the Indicated category (3.5 g/t cut-off). Another 3.1 Mt grading 9.1 g/t for 897,000 ounces of gold is listed in the Inferred category. A 60,000 metre drill campaign completed during 2017 and a 70,000 metre program in 2018 has expanded the strike length and depth of the Gladiator deposit to 1,300 metres and 1,100 metres respectively, with a number of subparallel zones or mineralized horizons being identified. The deposit remains open in all directions.
Bonterra has initiated the permitting process for the development of a decline to complete a bulk sample at Gladiator. The project is expected to contribute 1,000 tpd of gold ore to the Urban-Barry mill, a nearby processing plant that is being expanded to handle throughput of 2,400 tpd. Mining is expected to commence at Gladiator during the second half of 2020.
Bonterra announced a private placement of up to $10 million in November. Net proceeds will be used to fund drilling programs and to prepare a PEA on the Moroy, Gladiator and Barry projects.
Bonterra Resources Inc. (“Bonterra”) announced in mid-July that they have resumed their 2020 drill program at the Moroy, Gladiator and Barry projects. Bonterra has 56,000 metres of drilling planned for the remainder of 2020 including 16,000 metres at Gladiator.