Fast Tracking Multiple Gold Deposits One of the Highest Grade Gold Development Projects in Canada BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Forward Looking Statements This presentation contains certain statements that may be deemed “forward - looking statements”. All statements, other than statements of historical fact, that address events or developments that Bonterra Resources Inc. expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Bonterra Resources believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploration and production successes or failures, continued availability of capital and financing, inability to obtain required shareholder or regulatory approvals, and general economic market or business conditions. Forward- looking statements are based on the beliefs, estimates and opinions of Bonterra’s management on the date the statements are made. Dale Ginn, P.Geo. has approved the information contained in this presentation. Mr. Ginn is a Director and Vice President of Exploration with the Company and is a Qualified Person as defined by NI 43-101. 2 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Consolidated District with Mill Bonterra Duke JV URBAN BARRY MILL MOROY DEPOSIT Lebel-sur-Quévillon 110 km GLADIATOR BARRY DEPOSIT DEPOSIT 50 km 3 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Urban Barry Mill The only mill in the heart of the Urban Barry Camp 28,000 oz 45,000 oz CARTHWRIGHT MARIPOSITE 82,300 oz LAC SHORT 531,500 oz 24,000 oz 6,700 oz DISCOVERY GANDEX LAC ROSE 303,700 oz 64,800 oz FLORDIN FENTON LAKE SOUTH URBAN BARRY 433,000 oz MILL MONSTER LAKE MOROY DEPOSIT 510,000 oz OSBORNE-BELL 2.8 Moz WINDFALL LAKE 101,000 oz MACHO RIVER TWO LIONS BARRY DEPOSIT GLADIATOR DEPOSIT 42,800 oz 37,300 oz TOUSSAINT MORONO 4 BTR: TSX-V BTR: TSX-V BONXD: OTCQX 9BR1: FSE BONXD: OTCQX 9BR1: FSE
Projects – Three Deposits, One Mill Gladiator Moroy Deposit and Barry Deposit Urban Barry Mill Deposit 5 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Urban Barry Exploration Camp Recent Consolidation and Acquisition 6 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Gladiator Deposit Extension All Directions into Newly Acquired Land Duke JV (Bonterra 70%, Osisko 30%) Bonterra 100% 7 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Gladiator Deposit – Long Section 8 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Gladiator Deposit – Long Sections 9 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Gladiator Deposit – Cross Section Cross Section Looking SW A’ A Au g/t >5.0 2.5 – 5.0 -250m -250m 1.0 – 2.5 0.1 – 1.0 -750 m -750 m Veins Shear Zones 500 m 10 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Gladiator Deposit Extension 11 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Gladiator Metallurgy Gravity and gravity-cyanide tests resulted in significant gold recoveries of 99.0% to 99.4% . • Gravity and gravity-tail flotation tests resulted in significant gold recoveries of 96.8% to 97.3% . • Gravity concentrate recoveries, ranging from 68.3% to 76.1%; a verage of Bonterra’s industry peers ranges • from 20-35%. Results of the Gravity concentration gold recovery tests are summarized below: • Average >70% of the Feed Knelson Tails Pan Tails Pan Concentrate Pan Concentrate gold reported to the Grade (%) (%) (%) (g/t Au) Test Size (g/t Au) Gravity circuit at all 169 m K 80 1 9.19 20.0 11.7 68.3 3,627 136 m K 80 grinding test sizes. 2 9.86 13.6 11.9 74.5 4,437 83 m K 80 3 8.70 13.0 10.8 76.1 6,461 Feed Grade samples in • Results of the Flotation concentration gold recovery tests are summarized below: the metallurgical testing Gravity Recovery Rougher Recovery Total Recovery - Feed averaged higher than the Distribution % Distribution % Distribution % Grade assays grades received Test Size (g/t Au) Au S Au S Au S 169 m K 80 from the drill holes. 4 10.0 73.0 18.8 23.5 72.0 96.5 90.8 136 m K 80 5 8.00 70.9 17.1 26.0 73.9 96.8 91.0 83 m K 80 6 8.28 73.8 13.0 23.5 78.5 97.3 88.2 A cyanide leaching • Results of the Cyanide concentration gold recovery tests are summarized below: circuit may not be Au Recovery Leach Extraction Au Recovery Au Recovery required, noting the high Leach Feed Gravity (%) Gravity Tails Total recovery of the gold Test Size (Gravity Tails) (%) (%) (%) 169 m K 80 7 Test 1 68.3 30.7 30.7 99.0 from the gravity-tail 136 m K 80 8 Test 2 74.5 24.9 24.9 99.4 flotation tests. 83 m K 80 9 Test 3 76.1 23.1 23.1 99.2 12 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Urban Barry Exploration Camp – Barry Deposit Bonterra Duke JV URBAN BARRY MILL MOROY DEPOSIT Lebel-sur-Quévillon 110 km GLADIATOR BARRY DEPOSIT DEPOSIT 50 km 13 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Barry Deposit - Long Section Looking North Decline Cross Cut -300 m -300 m -600 m -600 m Barry Deposit. Quebec Canada Barry Deposit Long Section November 02, 2018 14 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Barry Deposit – Level Plan with Current Access 15 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Regional Geology – Post Consolidation 16 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Urban Barry Exploration Camp – Moroy Deposit Bonterra Duke JV URBAN BARRY MILL MOROY DEPOSIT Lebel-sur-Quévillon 110 km GLADIATOR BARRY DEPOSIT DEPOSIT 50 km 17 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Moroy – Section Looking East MO-16-105 9.2 g/t 6.4m Bachelor Mine MO-15-68 Moroy Trend 15.3 g/t Trend 6.6m MO-16-166 11.2 g/t 1.8m MY18-054 MY18-034 10.7 g/t 50.9 g/t 4.4m 4.8m LVL 11 Expl (-300m Elev) MY17-070 11.0g/t 4.0m MY17-009 7.0g/t 3.9m 750 ft 18 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Moroy Regional Geology Moroy Deposit. Quebec Canada Moroy Regional Geology Map November 02, 2018 19 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Regional Geology – Post Consolidation 20 BTR: TSX-V BONXD: OTCQX 9BR1: FSE
Rapid Advancement of Projects Underway 2018 2019 2020 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 MILL EXPANSION Permit & Construction, $17M CAD 2,400 tpd MOROY PRODUCTION Development, $8M CAD 500 tpd @ 6.0 gpt, 34,000 oz per year BARRY PRODUCTION Development, $10M CAD 900 tpd @ 7.0 gpt, 72,000 oz per year GLADIATOR, BULK SAMPLE Permit & Construction, $5M CAD Development, $15M CAD GLADIATOR PRODUCTION 1,000 tpd @ 7.5 gpt, 85,000 oz per year TOTAL INVESTMENT: $55M CAD, 190,000 OZ PER YEAR BY Q3 2020 21 BTR: TSX-V BONXD: OTCQX 9BR1: FSE 21
Mill Upgrade Summary PROJECT SCOPE: • Remove existing 10x12 rod mill, 3 small ball mills. TOTAL CAPEX: $13M US • Remove existing 40 ft thickener. Mill permitting process began in • Add a SAG mill (18 ft x 10.5 ft, 1,500 hp). April 2017 to increase the existing mill • Add two ball mills ( 9 ft x 12 ft, 650 hp). capacity from 800 to 2,400 tpd • Add a gravity circuit. • Add a 75 ft thickener. • Add 5 tanks for leaching-adsorption. 22 BTR: TSX-V BTR: TSX-V BONXD: OTCQX 9BR1: FSE BONXF: OTCQX 9BR1: FSE
Mill Upgrade Scope Current Planned Mill Upgrade Existing Removed Items Upgrades 23 BTR: TSX-V BTR: TSX-V BONXD: OTCQX 9BR1: FSE BONXF: OTCQX 9BR1: FSE
Canadian Developer Peer Comparison MARKET NET CASH / INITIAL FIRST FUNDED EV / FUNDED EV / DEVELOPERS EV FUNDED EV PRODUCTION AISC CAP DEBT CAPEX POUR PRODUCTION EST. OCF US$/oz US$/oz US$/oz US$/oz US$/oz 000’s oz US$/oz Year US$/oz x Osisko $341 $297 $45 $310 $607 218 $704 2022 $2,782 5.6x Sabina $279 $231 $47 $332 $563 198 $620 2021 $2,846 4.9x Victoria $211 $101 $110 $288 $389 171 $638 2019 $2,271 4.0x Harte $164 $182 ($18) $46 $229 81 $708 2018 $2,833 5.8x First Mining $160 $150 $10 $586 $736 297 $806 2024 $2,483 6.3x Marathon $110 $107 $2 $380 $487 189 $595 2022 $2,586 4.3x Pure $102 $88 $15 $41 $128 66 $741 2019 $1,941 4.0x Falco $58 $55 $3 $802 $857 219 $399 2021 $3,914 4.9x MEDIAN $162 $129 $12 $321 $525 193 $671 N.A $2,684 4.9x AVERAGE $178 $151 $27 $348 $500 180 $648 N.A $2,707 5.0x Combined $85 $70 $15 $42 $112 190 $660 2019 $614 1.1x BTR-MTO 24 BTR: TSX-V BTR: TSX-V BONXD: OTCQX BONXD: OTCQX 9BR1: FSE 9BR1: FSE
Recommend
More recommend
