Market Herald logo

Subscribe

Be the first with the news that moves the market
  • BonTerra Resources (TSXV:BTR) have announced its assay results from the Gladiator deposit. 
  • The company intersected 18.26 grams per tonne of gold over 1.7 metres 
  • BonTerra had planned around 13,500 metres of drilling at Gladiator over the winter, but could complete just 2500 metres 
  • The drill program was delayed due to warm winter temperatures slowing the construction of an ice road 
  • BonTerra Resources Inc (BTR) is holding steady at C$0.81 per share with a market cap of $63 million 

BonTerra Resources (TSXV:BTR) has announced it only completed 17 per cent of its winter drill program at the Gladiator deposit.

BonTerra had planned around 13,500 metres of drilling at Gladiator over the winter, but could complete just 2500 metres.

However, the company did intersect 18.26 grams per tonne of gold over 1.7 metres from the completed assays.

On March 19, Bonterra announced the suspension of all drilling. The decision to suspend drilling was made to allow employees to return home before COVID-19 shutdowns trapped them on site.

Since then, the company has been releasing the results from assays collected up to the suspension. 

BonTerra has had a run of bad luck at Gladiator, as the drilling program was plagued with issues from the start.

The winter drilling program was halted initially by unseasonable warm winter weather, which prevented ice forming on Barry Lake, preventing the construction of an ice road to the site.

This limited much of the access to Gladiator over the winter to flights in and out.

President and CEO of BonTerra Greg Gibson said the company was pleased with the early, albeit limited, results from Gladiator.

“The results on the newly interpreted North Zone support the interpretation of geological continuity and demonstrate the potential to add significant near surface ounces to the Gladiator resource.

“We hope to resume the Gladiator drilling from a barge after spring break up and when current restrictions due to the COVID-19 virus have been lifted,” he said.

Bonterra Resources (BTR) is holding steady at C$0.81 per share at 3:47 pm EST.

More From The Market Herald
Copper Mountain Mining Corporation - President & CEO, Gil Clausen.

" Copper Mountain Mining (TSX:CMMC) reports reserve increase

Copper Mountain Mining Corporation (CMMC) reported an increased MRE with a revised life of mine plan for its Copper Mountain Mine in B.C.

" Rover Metals Corp. (TSXV:ROVR) receives exchange approval for IML critical minerals project acquisition, NT, Canada

Rover Metals (ROVR) has received approval for the Indian Mountain Lake (IML) option-purchase agreement and the included milestone payment.

" Fabled Copper (CSE:FABL) secures underground adits at Muskwa Project

Fabled Copper (FABL) has secured four adit entrances on its Muskwa Copper Project in B.C.

" Newcrest and Gunpoint (TSXV:GUN) sign option-and-earn-in agreement to acquire interest in Appaloosa Property

Gunpoint Exploration (GUN) has signed an option-and-earn-in agreement with Newcrest Resources to explore Gunpoint’s Appaloosa property in Nevada, USA.