Canadian Mining Journal


GOLD: Bonterra raises $21.5M for Gladiator exploration

QUEBEC – Bonterra Resources of Vancouver is raising exploration money for its Gladiator gold project 170 km northeast of Val d’Or. The company will issue 19.2 million flow-through shares ($0.60 each) and 13.3 million super flow-through shares ($0.75 each).

Core from the Gladiator gold deposit in northern Quebec. (Image: Bonterra Resources)

The lead agent for the offering is Sprott Capital Partners. The agents are entitled to a 6% cash fee, and Bonterra will also issue common share purchase warrants equal in value to 4% of the offered securities. The warrants are priced at $0.60 and must be exercised within 24 months after the closing date.

The Gladiator deposit has been outlined to a depth of 1,200 metres and along a strike of 1,200 metres. It remains open in all directions. The 2012 inferred resource was 902,000 tonnes grading 9.37 g/t gold for 273,000 contained oz.

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