Tag: Bonterra Resources Ltd.

Impact: Positive

We had the opportunity to visit Bonterra’s (TSXV:BTR) Urban-Barry and Bachelor properties in Quebec. With operations now suspended, the company is laying the groundwork for building a larger and more robust gold mining business with the aim of ramping-up to >150Koz/year gold production on the back of its Gladiator, Barry and Moroy deposits and an expanded Bachelor mill. We believe Bonterra can create value as it drills aggressively and hits permitting and engineering milestones.

Impact: Mildly Positive

Results from Bonterra’s ongoing drilling program demonstrate the significant expansion potential of this deposit, beyond the ~2Moz that we believe already exists. With a mill in-place and a basket of growing deposits, we believe the company is likely to be the first company in production in the rapidly growing Urban-Barry camp.

Impact: Neutral

Moving Ahead in the Urban Barry Camp Bonterra is continuing to advance towards a company-wide mineral resource estimate encompassing its Gladiator, Barry and Moroy deposits. The company will move all three projects ahead simultaneously in the aim of creating a development plan which incorporates the company’s nearby Urban Barry Mill. We believe Bonterra could uncover large high-grade system at Gladiator which alongside Moroy and Barry, underpins the company’s ~190koz/year production potential by 2020E.

Impact: Mildly Positive

Bonterra Resources has released drill results from their ongoing resource development program at the Gladiator Gold Deposit that demonstrate the potential for further resource growth. The company plans on publishing an updated resource in Q4/18 that will include these results (no further drilling data will be included).