BonTerra Resources (BTR-V) released an eye catching drill result that maybe isn’t as noteworthy as it seems at first blush.
While the company’s press release heralded an intercept of 73.82 grams over 3 metres, the intercept is almost entirely made up of 1 metre of high-grade material.
The assay from hole BA-12-10 returned 1 metre grading 220 grams. If those 220 grams are averaged out over 3 metres it works out to 73.3 grams per metre, implying that that the remaining 2 metres reported would contain just 0.49 grams of gold.
Still, the result represents the highest grade drill core sample the company has reported since it began drilling the Eastern Extension property in the fall of 2010. Eastern Extension sits roughly 170-km northeast of Val d'Or, Quebec.
The high grade intercept came between the 254 and 255 metre level. The same hole also hit 1 metre of 2.95 grams at the 230 metre level. Another hole, BA-12-05, returned 1 metre grading 2.75 grams gold at the 60 metre level.
The highlight BA-12-10 hole was collared roughly 120 metres from what the company calls the Rivage outcrop and management believes there may be continuity between the Rivage outcrop and the area where the hole was drilled.
BonTerra has an interest in a total of three gold properties in the area. To the west of Eastern Extension lies its Urban Barry property, and on the west side of Eastern Extension is the Lavoie property.
The Vancouver-based company recently hit upon coarse visible gold at depth at Eastern, and that discovery motivated it to drill four additional holes averaging 420 metres in depth into Rivage.
The results from those four holes are pending.
BonTerra says it is focused on drilling the area around Rivage, as it believe an area from Rivage northeast across Lac Barry and further east could be one large target.
Investors failed to be inspired by the latest results, however, as the company’s shares were off 4% to 13.5¢ on 195,000 shares traded in Toronto on May 10.
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