VANCOUVER, BC--(Marketwire - Jul 27, 2012) - BonTerra Resources Inc. (TSX VENTURE: BTR)
(FRANKFURT: 9BR)
(the "Company" or "BonTerra") has filed a technical report pursuant to
National
Instrument 43-101 ("NI 43-101") entitled "BonTerra Resources Inc.: Eastern
Extension Property Project No. V1216 NI43-101 Technical Report" dated July
26, 2012 (the "Report") prepared by Abolfazl Ghayemghamian, MSc, P.Geo.,
APEGBC,
Senior Consultant with Snowden and Walter A. Dzick, B.Sc. (Geology), M.B.A,
CPG
#11458, MAusIMM, MAIPG, Principal Consultant with Snowden Mining Industry
Consultants Inc. ("Snowden"). Both authors of the Report are independent of
BonTerra and are Qualified Persons as defined by NI 43-101.
The purpose of the Report is to provide a resource estimate for the
Company's
100% owned Quebec gold property, the Eastern Extension Property (the
"Property")
which is located approximately 170 kilometers northeast of Val d'Or, Quebec
in
the Urban-Barry belt, and to support BonTerra's news release dated June
13, 2012 which disclosed that, using a 1.0 g/t cut-off grade, the Property
contains an inferred gold resource of 4,337,000 tonnes, grading 3.53 g/t
for
492,000 ounces. The full-text of the Report should be referred to in
conjunction
with this news relase and is incorporated herein by reference.
The Report includes all work BonTerra has completed on the Property up
until the
end of 2011. Of a total of 21,559.50 metres of drilling completed by
BonTerra to
date, only 15,642.60 metres of this is included in the resource estimate.
This
15,642.60 metres was drilled on the Property in 2010 and 2011 in 49 drill
holes
which averaged 319 metres in length. In addition to this 15,642.60 metres
of
drilling, historical drilling by Xemac resources was also used. Xemac
drilled
59 holes totaling 8,727 metres in 1997, 1998, 2000 and 2001. After hitting
significant gold at depths of approximately 600 metres, management believes
there is significant down-dip potential. This assertion is further
strengthened
by the fact that the veins are vertical to sub-vertically dipping.
In addition to BonTerra's inferred resource estimate on the Property, Eagle
Hill
Exploration Corporation ("Eagle Hill") has defined inferred mineral
resources
and indicated mineral resources on its Windfall Lake Property which is also
in
the Urban-Barry belt and is located approximately 8 kilometers north of the
Property. Eagle Hill disclosed in its news release dated July 25, 2012
that,
using a 3.0 g/t of gold cut-off grade, the Windfall Lake Property contains
an
indicated gold resource of 538,000 ounces (1,665,000 tonnes @ 10.05 g/t of
gold)
and an inferred resource of 822,000 ounces (2,906,000 tonnes @ 8.76 g/t).
Eagle
Hill's disclosure in its July 25, 2012 news release updates the disclosure
in
its November 2011 technical report which is referenced in the Report.
Results
obtained on the Windfall Lake Property are not necessarily indicative of
results
on the Property. Based on, among other things, the Report and the results
reported in Eagle Hill's public disclosure, management believes that the
Urban-
Barry gold camp is an area of merit.
Navjit Dhaliwal, President, states, "BonTerra is very motivated to continue
advancing the Property. We also want to thank Snowden for completing the
resource estimate and the Report. Management believes that there is
potential
for expansion of BonTerra's inferred gold resource. The highlight of our
Rivage
Zone, situated 700 metres along strike to the southwest, was assaying 220
g/t
gold over one metre in drill core. None of the drilling from the Rivage
Zone is
included in the current inferred gold resource. Additionally BonTerra
defined
another large southern magnetic anomaly which has yet to be explored by
diamond
drilling. With all this in mind we are confident in the potential the
Property
offers."
The inferred mineral resource at the Property that is disclosed in the
Report
was prepared using the following steps: compilation and verification of
drillhole data, including independent data verification, and database
verification (data validation was undertaken by Snowden); analysis of
drillhole
sample QAQC data; verification of BonTerra geology and mineralization
models
against drillhole information; coding of drillhole data within mineralized
estimation domains; sample length compositing; analysis of extreme data
values
and application of top cuts, where necessary; exploratory analysis of gold
grades within mineralized estimation domains; variogram analysis; creation
of
block models and application of density values; estimation of gold grades
into
blocks using ordinary kriging; validation of estimated block grades against
input sample composite grades; confidence classification of estimates with
respect to CIM guidelines; and resource tabulation and reporting.
A Vulcan block model with cell dimensions of 2 metres (X), 2 metres (Y), 2
metres (Z) was coded to reflect surface topography, syenite porphyry
dykes, and
the quartz vein domain solids.
Gold grades were estimated from 1 metre length weighted composites into the
interpreted mineralized blocks by ordinary kriging using parameters
established
from analysis of the variography within each domain. Based on the
variographic
analysis, search ellipses were created to enable a three pass approach, to
interpolate gold grades into the blocks. The minimum and maximum numbers
of
composites were set to 2 and 12 per block, respectively. A top cut of 58
g/t Au
was applied. Discretization was set to 2 x 2 x 1. A density of 2.78 g/cc
was
assigned to the mineralized veins based on 10 measurements of specific
gravity
performed by BonTerra.
Snowden has applied an inferred classification to all blocks in the mineral
resource. Snowden has not classified any measured blocks after considering
the
relatively short ranges of gold grade continuity, the current drill hole
spacing, the relatively high nugget environment, and use of assigned
densities.
Mineral resources are not mineral reserves and do not have demonstrated
economic
viability. There is no certainty that all or any part of the mineral
resource
will be converted into mineral reserves. Estimates are rounded since the
figures
are not precise calculations. Mineral resource estimates are reported for
the
Property above a range of Au cut-off grades (see Table 1-1 of the Report).
To
date, no analysis has been made to determine the economic cut-off grade
that
will ultimately be applied to any mineral resources. As stated in the
Report,
management is not aware of any legal, political, environmental, or other
risks
that could materially affect the potential development of the inferred
mineral
resource.
The technical information in this news release is based upon the Report,
unless
expressly stated otherwise. The authors of the Report verified the data
disclosed in the Report. A description of the data verification process and
the
limitations on the verification process is included in the full text of the
Report and incorporated by reference.
This technical content of this press release has been reviewed and accepted
by
Thomas Clarke, Pr.Sci.Nat., a Director of BonTerra. Mr. Clarke is a
Qualified
Person under NI 43-101.
About BonTerra Resources
BonTerra is a Canadian gold exploration company based in Vancouver, BC.
BonTerra
is focused on continuing to expand the drill defined gold zones on its
Eastern
Extension property, part of the world famous Abitibi Greenstone Belt in
mining
friendly Quebec. BonTerra has a total of three gold properties in the
Urban-
Barry belt, the Eastern Extension, Lavoie and Urban-Barry properties which
are
all located approximately 170 km NE of Val-d'Or and 125 km SW of
Chibougamau in
the Urban, Barry and Bailly townships in Québec.
The Company owns 100% of the Property subject to a 2% NSR which is held by
three
individuals, 1% of which can be purchased for a sum of $500,000.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/Navjit Dhaliwal
Navjit Dhaliwal
President and Director
(604) 678-5308
This press release contains projections and forward-looking information
that
involve various risks and uncertainties regarding future events. Such
forward-
looking information can include without limitation statements based on
current
expectations involving a number of risks and uncertainties and are not
guarantees of future performance of the Company, such as the statement
that: (i)
management believes there is potential for expansion of BTR's inferred gold
resource; and (ii) management believes in the potential for significant
down-dip
potential. There are numerous risks and uncertainties that could cause
actual
results and the Company's plans and objectives to differ materially from
those
expressed in the forward-looking information, including: (i) adverse market
conditions; (ii) delays with respect to drilling and receipt of drill
results;
(iii) accuracy and reliability of inferred mineral resource calculations;
(iv)
regulatory reviews and comments related to the Report; and (v) general
uncertainties with respect to mineral exploration. Actual results and
future
events could differ materially from those anticipated in such information.
These
and all subsequent written and oral forward-looking information are based
on
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Except as required by
law,
the Company does not intend to update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility
for the adequacy or accuracy of this release.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: BonTerra Resources Inc. via Thomson Reuters ONE
[HUG#1630290]