Tag Archives: Québec

TomaGold – Exploring with other people’s money

In our quest to find a junior explorer meeting all of our criteria, we discovered this “flying under the radar” Canadian company. What we found was a junior run with a tight cost structure (important to us), a portfolio of properties within Canada and perhaps most important of all, enjoying a partnership where someone else is spending all the money.

TomaGold’s flagship property is Monster Lake and the company is partnered up with giant IAMGOLD. As we post this, TomaGold (lot.v) has a share price of C$0.09 which gives them a Mcap of only C$7.3 million (80.8m sh out).

Listen to this (11 min) interview we did with TomaGold’s CEO, David Grondin, when we met with him in Hong Kong recently. Our impression of David is a guy who isn’t tainted with the mentality of many junior companies, a person who is hungry and eager to make something out of TomaGold. As the CEO, David Grondin owns ~5% of the company so he is aligned with the rest of us.

The introduction newsletter we made to our subscribers on TomaGold on April 14th can be downloaded on this link (pdf).
The excerpt on TomaGold from our Weekly Update on April 17th is found here (pdf).

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NEWS: BonTerra Drills 3.3 m of 29.0 g/t Au and 5.7 m of 24.3 g/t Au in Main Zone and in New Mineralized Zones to the West of its Gladiator Gold Project‏

Mar 29, 2016

BonTerra Resources Inc. (TSX-V: BTR, US: BONXF, FSE: 9BR1) (the “Company” or “BonTerra”) is pleased to announce that it has received assays from an additional five (5) holes from its 2016 Exploration and Drill Program on its 100% owned Gladiator Gold Project located north of Val d’Or, Québec. Two new high-grade mineralized zones have been discovered to the north (BA-16-02) and south (BA-16-05) of the extensions of the main deposits.

2016 Drilling Program Update and Highlights:

  • Drilled 5.0 m of 15.3 g/t Au in Hole BA-16-02 in a new zone (North Shear 1);
  • Drilled 6.0 m of 10.4 g/t Au in Hole BA-16-04;
  • Drilled 3.3 m of 29.0 g/t Au in Hole BA-16-05 in a new zone (South);
  • Drilled 5.7 m of 24.3 g/t Au in Hole BA-16-09;
  • 8,300 m drilled to date in 19 holes on western extension of Gladiator Deposit;
  • Results reported to-date are for 5 holes below and 2 holes previously reported on March 2, 2016; holes are currently in the lab, and 6 holes are in process;
  • Visible gold was identified in 16 of the 19 holes;
  • The Gladiator Deposits are now outlined to the west by an additional 200 m long by 250 m deep, where 23 new drill holes (2015 and 2016) have extended the main deposits and discovered 3 new parallel zones.
  • New drill information demonstrates that three zones (Footwall, Main and Intrusive) continue along strike, while three new zones (North Shear 1, North Shear 2 and South) have been identified both to the north and south of the previously known zones.

Nav Dhaliwal, President and CEO of BonTerra, stated: “We now have extended the zone of mineralization approximately 200 meters to the west of our existing deposit, and we continue to intersect grades higher than the existing resource model completed in 2012. Our technical team’s review of the geological system continues to be validated with recent drilling, with much data in process. Our recent strategic acquisition of key land positions along strike were completed to ensure we control what we believe to be one of the more interesting discoveries in the Abitibi Greenstone Belt.”

Dale Ginn, Vice President of Exploration of BonTerra, added: “Our winter drill program has, so far, been highly successful in extending our known deposits to west and to depth.  Perhaps more significant has been the discovery of three new parallel zones, two of which have given extremely high-grade initial results over excellent widths. I look forward to expanding our knowledge of these new zones and to extending our drill program to the east over the spring and summer months.”

The western extension of the Gladiator Deposit was targeted based on interpretation of recent geophysical programs and extension of known data from the existing Gladiator zones. With the ice drilling program now complete for the winter season, the project will now focus for the month of April on gathering and compiling information from the new core as received to date and pending. The 30-day window will also allow time for a full interpretation of the initial 19 holes and complete a detailed report of the winter campaign.  Upon completion, BonTerra’s technical team will define, target and prepare the next drilling campaign and summer surface work.  This program is expected to continue with drilling the main zones, follow up and the recent discoveries, apply drilling in order to extend the deposits to the east, and to follow up on targets identified on the Coliseum Property to the west.

Complete Drill Hole Results:

Hole

From
(m)

To
(m)

Length
(m)

Grade
(g/t Au)

Zone

BA-16-02

11.0

55.0

44.0

0.4

New (North Shear 2)

79.0

137.0

58.0

2.5

New (North Shear 1)

Including

79.0

95.0

16.0

6.1

New (North Shear 1)

Including

79.0

84.0

5.0

15.3

New (North Shear 1)

     Including

92.5

95.0

2.5

7.5

New (North Shear 1)

BA-16-04

64.0

70.0

6.0

10.4

Main

BA-16-05

25.0

26.5

1.5

3.5

Main

184.0

186.0

2.0

12.7

Main

290.7

294.0

3.3

29.0

New (South)

BA-16-06

20.8

30.0

9.2

2.1

FW

336.0

337.5

1.5

2.5

Intrusive

416.0

420.0

4.0

1.7

Main

BA-16-09

21.7

27.4

5.7

24.3

Main

110.1

111.2

1.1

41.7

Main

364.0

369.0

5.0

1.8

New (South)

*Stated lengths are core width as drilled, true widths have not yet been determined.

Long Section Main Zone

Long Section Main Zone

 

Long Section Footwall Zone

Long Section Footwall Zone

 

Section 200

Section 200

Section 250

Section 250

 

Section 350

Section 350

 

BonTerra Resources Quick Facts:

  • ~$3.5 million in cash as at January 1, 2016.
  • ~59 million shares outstanding.
  • 7,563-hectare (Gladiator Project) in the Urban-Barry Camp in Québec containing:
    • Using a 4 g/t Au cut-off grade, the project currently contains an inferred resource of 905,000 tonnes, grading 9.37 g/t Au for 273,000 ounces of gold. Of note, ~90% of the worlds operating mines have an average gold grade less than 8 g/t. Mineral Resource Estimate and technical report filed July 27, 2012, Snowden Mining Consultants.
    • 2016 Exploration Program underway – up to 25,000 meters utilizing minimum of two drill rigs at its 100% owned Gladiator Gold Project to expand current gold resource.
  • 2,165-hectare (Larder Property) in the Cadillac-Larder Break camp in Ontario (refer to March 17, 2016 news release highlighting historical gold resource).

Dale Ginn, P.Geo. has approved the information contained in this release.  Mr. Ginn is a Director and Vice-President of Exploration for BonTerra and is a Qualified Person as defined by NI 43-101.

Full release