Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Bonterra Resources (TSXV: BTR) reported it has intersected 4 metres of 7.2 g/t gold, including 0.5 metre grading 57 g/t and 1 metre grading 16.1 g/t in the South zone at its Gladiator property in the Urban-Barry camp, 170 km northeast of Val d’Or, Quebec.
The results are from the ongoing expansion drill campaign the company is conducting as it prepares a preliminary economic assessment of the project by the end of the year.
Other notable intersections include the following:
The Gladiator resource estimate was updated in June, and it contains a measured and indicated portion of 1.4 million tonnes grading 8.61 g/t gold (391,000 contained oz. gold). There is also an inferred resource of 4.2 million tonnes grading 7.37 g/t gold (989,000 contained oz. gold).
Bonterra has two other advanced gold exploration projects about 50 km to the north at Desmaraisville, Que. Both the Barry and Moroy projects are close to the former Bachelor gold mill which is being upgraded with the addition of a SAG mill, ball mill, thickener, and nine new leach tanks. Capacity will be tripled to 2,400 tonnes/day.
(This article first appeared in the Canadian Mining Journal)
