Bonterra Announces Additional High-Grade Assay Results at Moss Target and Gold Fields’ Drilling Restart at Phoenix JV
Bonterra Resources Inc. has announced new assay results from the Moss target and the commencement of drilling by Gold Fields Ltd., the new operator of the Phoenix Joint Venture (Phoenix JV), formerly known as the Urban-Barry Property. Under a definitive earn-in agreement, Gold Fields can acquire up to 70% interest in the Project by investing C$30 million in exploration, with a minimum C$10 million annually over three years.
Key Updates
Marc-André Pelletier, President and CEO of Bonterra Resources, highlighted the milestone:
“The start of exploration activities under Gold Fields as the new operator marks an exciting milestone for the Phoenix JV. Gold Fields’ 2025 program is focused on advancing the understanding of the regional geology and identifying new exploration targets across the property. Recent drilling results at the Moss target highlight the strong potential for further discoveries. We are eager to collaborate with Gold Fields to advance Quebec’s newest emerging gold camp.”
Moss Target Drilling Highlights
To date, over 60,000 meters have been drilled, with approximately C$16 million invested by the JV. Notable high-grade intercepts include:
• 6.23 g/t Au over 2.8 m, including 18.1 g/t Au over 0.9 m in hole OSK-PHX-24-112
• 12.3 g/t Au over 0.5 m and 3.97 g/t Au over 3.4 m in hole OSK-PHX-24-073
• 7.50 g/t Au over 0.9 m, including 20.9 g/t Au over 0.3 m in hole OSK-PHX-24-106
• 5.05 g/t Au over 1.0 m in hole OSK-PHX-24-053
These results suggest mineralization similar to the Windfall-Lynx Zone, with strong potential for further depth extensions.
Gold Fields’ 2025 Drilling Campaign
Gold Fields is drafting plans for a 20,000-meter drill program utilizing three to four drill rigs. The initial focus will be on the Barry Shear Zone, targeting the Gladiator SW and NE/Titan zones near the Gladiator deposit, which hosts 0.4 million ounces of Measured and Indicated resources and 1.0 million ounces of Inferred resources, per the 2021 Mineral Resource Estimate (MRE).
Other targets include:
• Duke NE
• Chanceux
• Tourmaline Ridge extension
• Rouleau Till
Two drill rigs are currently active on the Gladiator SW target, with over 3,000 meters drilled to date.
Strategic Outlook
The Phoenix JV’s exploration strategy is set to deliver new discoveries and expand existing deposits, leveraging Gold Fields’ resources and expertise. With the Moss target showing Lynx-style gold mineralization, the Project has the potential to become a major contributor to Quebec’s gold sector.
Bonterra and Gold Fields remain committed to advancing this prolific camp through continued drilling, geophysical surveys, and core sample analysis.
Tags: Quebec / Deals & Financial / Gold / All Articles