The Conversation (0)
BonTerra Resources Inc. (TSXV:BTR) and Kerr Mines Inc. (TSX:KER) announced that they’ve entered into an agreement under which BonTerra will acquire the Larder Lake property from Kerr.
BonTerra Resources Inc. (TSXV:BTR) and Kerr Mines Inc. (TSX:KER) announced that they’ve entered into an agreement under which BonTerra will acquire the Larder Lake property from Kerr.
Highlights of the deal are as follows:
- The Larder Lake Property, running along 9 km of the Cadillac-Larder break between Kirkland Lake and Virginiatown, consists of a historic estimate as outlined below
- Deposit is open at depth with over 100,000 metres of historical diamond drilling completed;
- Historical gold production and mine development to 1,085 feet, with two shafts and underground workings on site;
- Strategic 2,165-hectare land position along prolific Cadillac/Larder Fault Break where over 13 Million ounces of production has been recorded; located 7km west of the Kerr Addison Mine, which produced 11 million ounces of gold;
- Extensive infrastructure and access (highway and power).
Nav Dhaliwal, president and CEO of BonTerra, commented:
The acquisition of the Larder Lake Property is key to BonTerra and its shareholders. The transaction elevates BonTerra’s position amongst its peers with a significant gold resource portfolio contained at the Gladiator Gold Project, and now the Larder Lake Project. We continue to identify key projects within the Abitibi Gold Belt, and once again advance our strategy of becoming a significant gold exploration company and building value for our shareholders. I would like to welcome Kerr Mines as a new Shareholder of BonTerra.