More results from Bonterra Resources’ (TSXV:BTR; OTCQX:BONXF) infill and expansion drilling campaign at the Barry underground project are now available.
The Barry underground project holds 500,000 oz. of measured and indicated mineral resources and 700,00 million oz. of inferred mineral resources according to the last mineral resources estimate. According to a 2021 mineral resource estimate, the combined open pit and underground estimates measured and indicated resources are 4.5 million tonnes at 4.21 g/t gold for 690,000 oz. gold and inferred resources are 3.9 million tonnes at 4.89 g/t gold for 688,000 oz. gold.
The primary goal of this campaign was to convert mineral resources to a higher confidence category and enhance the interpretation and grade continuity of the mineralization, primarily in the upper section of the deposit. In total, 31,349 metres (91 holes) of infill drilling has been completed from surface since August 2022.
Barry has an after-tax net present value (NPV) at a 5% discount rate of $48.3 million at US $1,600/oz gold, increasing to $94 million at US $1,900/oz gold. The after-tax internal rate of return (IRR) of Barry is 43%, with initial capital costs of $22.1 million and a sustaining life of mine capital costs of $21.3 million.
The company has allocated one drill rig to its Barry North-East regional exploration program, which consists of 11 drill holes covering 3,200 metres. This program targets polarization anomalies along the Mazeres fault corridor, located 3 km to the northeast of the Barry deposit. So far, three drill holes covering 969 metres have been completed.
To learn more, visit www.BtrGold.com.