Gold News: BonTerra Resources (CA:BTR)(PINK:BONXF)(FRANKFURT:9BR) to benefit from high-grade Rivage vein zone
Vancouver, British Columbia, October 13, 2011 eMediaWorld Reports Companies on the move include BonTerra Resources Inc for Thursday October 13, 2011 whose recently active property, located in the Abitibi greenstone belt, approximately 170 kilometres northeast of Val d’Or, Que. is part of BonTerra’s continued search and inventory of quality properties and assets.
BonTerra’s portfolio of quality properties, which surround the Eastern Extension property in Quebec, were prospected by BonTerra this summer with the intent to make them drill ready. New zones of mineralized veining have been observed on the Urban-Barry property.
The target for all drilling on the property is smoky quartz veins mineralized with sulphides (pyrite, pyrrhotite and chalcopyrite plus or minus sphalerite plus or minus visible gold). Sulphides commonly compose 1 to 10 per cent of the mineralized zones and can be as high as 30 per cent locally. Alteration is most commonly silica, carbonate, chlorite, tourmaline and sericite. The combination of quartz veins, tourmaline, alteration types and sulphides is ideal for gold mineralization in the area. Sphalerite present in the quartz veins appears to be associated with the highest-grade gold zones on the property to date.
BonTerra (OTCPK:BONXF) (TSX VENTURE:BTR) (FRANKFURT:9BR) is a junior exploration company with its focus in North America. It has a strong management team and the ability to resource properties within British Columbia and the United States. BonTerra will provide a sound investment for its share holders by continually searching for quality properties to add to its portfolio.
Additional sector performers reporting news include Globex (Toronto:GMX.TO) (Frankfurt:G1M.F) (Other OTC:GLBXF.PK) who announced an update on projects Thursday October 13, 2011 on many Fronts and provided shareholders with an update on a number of projects which have not been the subject of recent press releases and some that have.
Gold pushed to a new 3-week highs above 1690.00. While the convincing breach of chart/Fibonacci resistance at 1678.42/1681.68 is encouraging technically, renewed upside momentum has not been forthcoming.
Hope continues to spring eternal with regard to a broad eurozone rescue plan promised by the end of the month. Better than expected industrial production numbers for August helped the cause. The market seems to have largely discounted the Slovakian rejection of the EFSF expansion and the resulting collapse of the government. The euro set new 4-week highs above 1.3800 before retreating into the range, amid expectations that Slovakia will eventually pass the measure. Euro strength comes at the expense of the dollar, with the dollar index falling back below 77.00 on improved risk appetite. The weaker greenback is helping to underpin gold, as are the lingering doubts that a solution for the European problem is at hand.
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