Bonterra in Bachelor-Moroy’s basement in slow motion; Unaffected Bachelor Mill

However, Bonterra said the status of the analytical lab, camp, mill and tailings management area – collectively known as the Bachelor Mill complex – remains unchanged, and that these assets are key elements of the planned restart of production at the Barry open pit project. . The permitting process for the expansion of the plant and tailings management area is still ongoing, and given the changes to the Bachelor-Moroy deposit, a scope change will be submitted by the company shortly.

In the meantime, Bonterra has released results from an additional 54 holes from the Barry drill program that will be included in a new mineral resource estimate in preparation for a pre-feasibility study, which is currently underway and expected later this year. Currently, the Barry open pit deposit has measured and indicated resources totaling 1.9 million tonnes grading 2.66 g/t for 165,000 oz. contained gold.

Notable intersections from recent drilling include: 1.8 g/t gold over 23.2 meters, including 3.0 g/t gold over 4.0 meters and 11.4 g/t gold over 1 .5 meter; 2.5 g/t gold over 10.5 meters including 7.3 g/t gold over 1.6 meters; and 1.0 g/t gold over 37.0 meters including 3.2 g/t gold over 8.6 meters.

“These recent drill results confirm the grade continuity of near surface mineralization at the Barry deposit and will be used to further refine our geological model as part of the PSA which is expected to be completed by the end of the year. year. The PFS is an important step in our renewed strategy to move the company towards production, starting with the Barry open pit mine,” commented Marc André Pelletier, President and CEO of Bonterra.

Additionally, Bonterra announced that it has begun 125,000 meters of infill drilling on the underground portion of the Barry deposit, which contains 500,000 ounces of measured and indicated resources and 700,000 ounces of inferred resources, as indicated in the estimate of last year. The company plans to pursue its strategy of reviving production from the open pit while concurrently developing higher grade underground mineralization.

At the nearby Gladiator deposit, one of Bonterra’s main assets, the company undertook an exploration drilling campaign on barges which was completed as planned at the end of July. The geological team will continue to work on the mineral resource model and geological interpretation of the deposit as drill results from the campaign become available. The team is also planning a more focused drill program for next year.