Bonterra Resources Sees First Gold Sale from Bachelor Mill Cleanup

About Bonterra Resources

Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) is a prominent gold exploration company based in Canada. The company boasts a comprehensive portfolio of advanced exploration assets, all centered around a pivotal milling facility situated in Quebec, Canada. Bonterra's primary assets include Gladiator, Barry, Moroy, and Bachelor. Combined, these assets account for 1.24 million ounces in the Measured and Indicated categories and an impressive 1.78 million ounces in the Inferred category. A distinctive feature of the company is its ownership of the only permitted and operational gold mill in the region. With a strategic vision of transitioning from an advanced exploration firm to a full-fledged development company, Bonterra is steadfast in its mission to amplify shareholder value.

First Gold Sale

Bonterra Resources recently announced a significant milestone: the successful sale of gold recovered from the cleanup process of its Bachelor Mill. The operation has so far yielded 630 ounces of gold, translating to a revenue of CAN$1.6 million. The firm expressed optimism regarding the continuation of the gold recovery efforts, anticipating further revenue in the upcoming months.

The CEO of Bonterra, Marc-André Pelletier, shared his gratitude towards the employees engaged in the cleanup process. Their commitment has been particularly notable given the challenges faced this summer, including multiple evacuations owing to forest fires. Pelletier also mentioned that the next shipment of gold is scheduled for the fourth quarter. When combined with the initial 630 ounces sold, the revenue generated from this operation is poised to considerably cover the company’s exploration activities for the remainder of 2023. Furthermore, the company has been proactive in its endeavors, currently formulating an updated exploration program. This new initiative aims to test the extension of mineral resources in proximity to the Barry, Gladiator, and Bachelor deposits.

Future Outlook

The Bachelor Mill cleanup represents a notable step for Bonterra in utilizing its resources. The process has shown potential as a source of revenue, especially with the prospect of an impending gold shipment in the fourth quarter. The challenges faced by the company, such as the forest fires, shed light on the operational complexities of the mining industry. As Bonterra continues its exploration and development activities, its focus on resource extension and the updated exploration program highlights its commitment to steady growth in the gold exploration sector.