Barkerville Gold {TSX.V: BGM} has reported high grade gold results from the BC Vein on Barkerville Mountain.
These included some impressive intersections in an area noted for high grade gold.
BGM Reports Further High Grade Gold Results from Phase I Drilling Program on BC Vein |
| November 11th, 2015 |
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VANCOUVER, BC – November 11, 2015 – Barkerville Gold Mines Ltd. {TSX.V: BGM} is pleased to announce additional results from the ongoing Phase I drilling program on Barkerville Mountain at the Company’s flagship Cariboo Gold Project.
The results of these drill holes are presented in Table 1. A drill hole location plan map is available on the Company’s website www.barkervillegold.com
Drilling Highlights:
Discussion of Results: As per the Company’s press release dated October 20, 2015, the current grid drilling program on the BCV is designed to systematically assess on aggressively spread out 50 metre hole spacings the BC structure with the aim of outlining the most economically viable portions of the known 1,400 metre vein strike length.
Of particular interest are the numerous intersections of auriferous hangingwall veins (HWV), in the rocks overlying the BCV. BGM-15-064 intersected27.93 g/t (0.81 oz/t) Au over 3.90 metres including 118.00 g/t (3.44 oz/t) Au over 0.80 metres at a vertical depth of 12 metres below surface and 75 metres above the BCV and BGM-15-050 intersected 10.54 g/t (0.31 oz/t) Au over 3.00 metres including 13.00 g/t (0.38 oz/t) Au over 1.50 metres at a vertical depth of 115 metres below surface.
These high grade intersections are largely untested down dip and along strike and represent a second set of veining orthogonal to the BCV possibly analogous to the orientations that were historically mined at both Cow and Island Mountains.
“Although the primary focus of this current drilling phase is to outline the gold resources of the BCV, I am particularly encouraged by the quantity and also the gold tenor of the hangingwall veins that we are encountering in this first pass of drilling.” says Tom Obradovich, President and CEO of BGM.
Qualified Persons Exploration activities at the Cariboo Gold Project are jointly administered on site by the Company’s Project Managers Maggie Layman, P.Geo. and Wanda Carter, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.
Quality Assurance – Quality Control Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company’s secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by Paul Geddes, P.Geo, Vice President, Exploration.
Drill core samples are submitted to SGS Canada’s analytical facility in Burnaby, B.C. for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1,000 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 5ppb and upper limit of 10,000ppb. Samples with gold assays greater than 10,000ppb are re-analyzed using 50g fire assay with gravimetric finish, as well as 1,000g screen metallic fire assay. Samples are also analyzed using a 49 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).
For further information on Barkerville Gold Mines Ltd., please contact:
Tom Obradovich
About BGM The company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. BGM’s mineral tenures cover 1,164 square kilometres along a strike length of 60 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by BGM in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of this year with 91,489 tonnes of ore milled producing 25,464 ounces of gold. BGM has completed a number of drilling and exploration programs over the past 20 years and is currently compiling this data with all historical information in order develop geologic models which will assist new management and provide the framework to continue to explore the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.
Cautionary Statement on Forward -Looking Information Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. |
