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BonTerra rallies on high grade gold intercepts of over 100g/t at Eastern Extension

Canada's BonTerra Resources (CVE:BTR) saw its shares rise as high as 22% on Wednesday after the junior explorer reported extremely encouraging gold grades and widths on its Eastern Extension property northeast of Val d'Or, Quebec.
BonTerra rallies on high grade gold intercepts of over 100g/t at Eastern Extension

Canada's BonTerra Resources (CVE:BTR) saw its shares rise as high as 22% on Wednesday after the junior explorer reported extremely encouraging gold grades and widths on its Eastern Extension property northeast of Val d'Or, Quebec.

Results were received for four of eight drill holes at the site, with hole BA-11-29 arguably being the best hole drilled to date at the property, the company said.

According to BonTerra, within this drill hole, there are two distinct veins with numerous specks of visible gold observed in the geological log.

Significant intercepts from hole BA-11-29 included 15.3 metres of 14.85 g/t gold, including 11.3 metres of 20.10 g/t gold, 5.3 metres of 41.55 g/t gold, 2.5 metres of 88.10 g/t gold, and 0.70 metres of 129.00 g/t gold, and 114.00 g/t gold.

"We have intercepted numerous high grade zones with two samples assaying over 100 grams/tonne gold," said president Mitchell Adam.

"It is becoming clear that with a greater understanding of the property our geological team continues hitting the targets.

"Once all of these holes are completed and assays received BonTerra intends to release our gold resource calculation for the property."

Other notable holes included BA-11-26, which intercepted 25.5 metres of 1.19 g/t gold, including 5.3 metres of 5.43 g/t gold and 0.60 metres of 38.8 g/t gold; as well as hole BA-11-25, which returned 1.3 metres of 7.6 g/t gold and 1.00 metres at 2.77 g/t gold.

The company said hole BA-11-10A was abandoned at 99.61 metres due to difficult drilling conditions, but was re-drilled roughly four metres to the northeast and renamed BA-11-10, results of which were disclosed in early August. The new hole hit multiple high grade zones of gold at depth.

The target for all drilling on the Eastern Extension property is smoky quartz veins, mineralized with sulphides. Sphalerite, a type of sulphide, present in the quartz veins appears to be associated with the highest grade gold zones on the property to date, said BonTerra.

BonTerra is focused on continuing to expand the known gold zone on its Eastern Extension property, part of the Abitibi Greenstone Belt of Quebec. The company has a total of four properties in the Urban-Barry belt in the province, all gold exploration targets.

It has an option to earn 100% of the Eastern Extension asset from Abitex Resources, subject to a 2% net smelter royalty.

As at 11:09am EDT, shares of BonTerra were up 11.86% at $0.33 in Toronto, having risen as high as 22% in earlier trading.

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