お知らせ • Jan 21
Bonterra Resources Inc. Announces Start of 2026 Exploration Program at Phoenix JV with Gold Fields Ltd
Bonterra Resources Inc. announced details of the 2026 exploration program, which includes deep-drilling at Barry, being led by a 100% indirect subsidiary of Gold Fields Ltd. at the Phoenix JV. The Project is under a definitive earn-in and joint venture agreement with Gold Fields. Under the JV Agreement, Gold Fields has the right to acquire a 70% interest in the Project by spending CAD 30 million in work expenditures, with a minimum spending commitment of CAD 10 million per year over a three-year period. To date, over 79,000 meters ("m") have been drilled and approximately CAD 25 million invested on the Project under the JV Agreement. With a valid mining lease, historical production, and existing underground infrastructure, Barry is well positioned to drive continued progress with partner, Gold Fields. The 2026 budget is approximately CAD 4 million, and Gold Fields expects to complete the full CAD 30 million earn-in work expenditures under the JV Agreement by mid-2026. Gold Fields is associated with disseminated sulfides within shear zones and veins with local visible gold. The Barry deposit has been delineated over 1.4 kilometres along strike and 700 m vertically and remains open for further expansion. The latest mineral resource estimate contains 0.7 million ounces of Measured and Indicated and 0.7 million ounces of Inferred mineral resources at Barry. Historical drilling provides additional support for ongoing resource growth, particularly at depth. Drill hole MB-21-416 returned 10.8 g/t Au over 5.1 m, including 23.1 g/t Au over 1.4 m, while drill hole MB-22-420 returned 12.1 g/t Au Over 6.1 m, including 73.5 g/t Au over 0.5 m. Additionally, drill hole MB-21-417 intersected 7.1 g/t Au under 7.6 m, including 20.1 g/t Au across 1.4 m and 13.2 g/t Au over 1.,4 m, demonstrating strong potential for resource expansion along the eastern portion of the Barry deposit. The Barry Mine was in production between 2008 and 2010, during which time it yielded approximately 44,000 ounces of gold. The Company's assets include the Gladiator, Barry, Moroy, and Bachelor gold deposits, which collectively hold 1.24 million ounces in Measured and Indicated categories and 1.78 million ounces in the Inferred category. In November 2023, the Company entered into an earn-in and joint venture Agreement with Osisko Mining Inc. ("Osisko Mining") for the Urban-Barry properties (the "JV Agreement"), which include the Gladiator and Barry deposits. In October 2024, Gold Fields Ltd, through a wholly owned Canadian subsidiary, completed the acquisition of Osisko Mining for CAD 2.16 billion. Gold Fields is now the counterparty to the JV Agreement and can continue to earn a 70% interest in the joint venture by incurring CAD 30 million in work expenditures on or before November 2026 (including expenditures incurred by Osisko Mining prior to October 2024). This strategic transaction highlights Bonterra's dedication to advancing its exploration assets, marking a significant step towards development. These statements are based on assumptions considered reasonable by management, including assumptions regarding exploration plans, budgets, schedules, regulatory approvals, and the continued advancement of work by Gold Fields. However, forward-looking statements involve known and unknown risks, uncertainties, and other factors that are known and unknown risks, uncertainties and other factors that are related to the JV Agreement.