BCGold Corp. Commences Exploration Programs on Six Properties in B.C. and Yukon
June 21 2012 - 8:40AM
Marketwired
(TSX VENTURE:BCG)(PINKSHEETS:BCGOF) - BCGold Corp. (or the
"Company") is pleased to announce that work crews have mobilized to
the Company's South Quesnel properties in south-central B.C. and
the WS and Off-White Gold properties in Yukon. The combined
exploration budget for these projects is $200,000, which will be
funded by current unspent funds received from the issuance of
flow-through common shares in 2011. Work crews will be active on
the properties until late August.
South Quesnel Properties, B.C.
Infill mobile metal ion ("MMI") soil sampling surveys were
recently completed on four of the Company's 100%-owned South
Quesnel properties, including the Rayfield, Clear Range, Dartt Lake
and Lauder Creek properties. The soil sampling surveys were
designed to infill and further delineate copper-gold soil anomalies
discovered during BCGold Corp.'s 2010 generative exploration
campaign. All four properties are road accessible and contain
loosely defined copper-gold soil anomalies believed to represent
buried porphyry-style deposits. Work crews completed tightly spaced
infill soil sampling to advance the anomalies to the drill-ready
stage.
In 2010 and 2011 BCGold Corp. staked nine properties in the
South Quesnel region of south central B.C., targeting blind
porphyry copper-gold deposits in a region covered by blankets of
post mineralization Tertiary volcanic flows and/or thick layers of
glacial sand and gravel deposits. The properties overlay a number
of coincident geochemical and geophysical anomalies identified in
Geoscience BC's QUEST-South dataset. As a preliminary evaluation
the Company conducted grid-scale MMI soil surveys on the properties
in 2011, which outlined four copper-gold soil anomalies. The four
anomalies are open in all directions and are the focus of the 2012
follow-up exploration work.
The Bonaparte, Caribou, Bridge Lake, and Trapp Lake properties
were allowed to lapse due to unfavourable preliminary results.
WS Property, Minto-Carmacks Belt, Yukon
A tightly spaced soil and biogeochemical orientation survey has
commenced on the WS property, which is adjacent to Copper North
Mining Corp.'s advanced staged Carmacks Copper Project. The
orientation survey is being conducted where previous drilling by
BCGold Corp. successfully intersected the extent of Zone '14' of
the Carmacks Copper deposit. BCGold Corp.'s drill hole WS08-09B
intersected 63.1 metres averaging 0.17% Cu, containing 23.6 metres
averaging 0.34% Cu (see www.bcgoldcorp.com). The ongoing
orientation survey is designed to test alternative geochemical
methods to enhance results of previous MMI soil sampling programs
and to refine drill targets along a 2-kilometre long linear
induced-polarity ("IP") geophysical anomaly associated with Zone
'14'.
BCGold Corp. owns 100% of 16 properties (15,925 hectares)
strategically situated in the Minto-Carmacks Copper-Gold Belt. The
properties are located proximal and adjacent to Capstone Mining
Corp.'s Minto Mine, which is currently in production, and Copper
North Mining Corp.'s Carmacks Copper Project, which is in the
advanced mine permitting stage. BCGold Corp. has collected over
8,500 MMI soil samples on its WS and other Minto-Carmacks
properties and has defined numerous drill-ready, coincidental
copper-gold geochemical and IP / magnetic geophysical targets.
Off-White Gold Property, Tintina Trench, Yukon
Geological mapping, prospecting, and soil sampling at the
Off-White Gold property will commence by the end of June. This
exploration program is designed to investigate the potential
bedrock source for coarse-grained, angular gold nuggets discovered
in local placer mine workings, where approximately 455 ounces of
gold were mined by the property vendor.
Microscopic studies of the recovered nuggets defined a sizable
sub-population of coarse-grained, angular nuggets, which is highly
suggestive of a nearby bedrock source. BCGold Corp. believes the
source of the gold is related to an underlying, Tombstone-style
intrusive related gold system situated within the Tintina Trench
(See www.bcgoldcorp.com).
About BCGold Corp.
BCGold Corp. (TSX VENTURE:BCG) is focused primarily on gold
exploration and development in under-explored historic and emerging
mining districts in British Columbia and Yukon. BCGold Corp.
acquires and develops conceptual, early and mid-stage exploration
opportunities and advances them towards resource development.
Currently, institutional investors hold 21% of the Company's
outstanding shares and Kinross Gold Corporation holds 5%.
BCGold Corp. is unique in that it not only exposes investors to
the prospects of new discoveries, but is also positioned to offset
exploration costs and minimize dilutive share issuances for capital
by monetizing forward selling gold concentrate recovered from
on-site processing of bulk sample material at the Company's
high-grade gold Engineer Mine property. Efforts to engage a
suitable partner and terms for the forward sale of gravity gold
concentrate are on-going.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo., President & CEO
Some statements in this news release contain forward-looking
information or forward-looking statements. These statements
include, but are not limited to, statements with respect to future
expenditures and exploration, development and production
activities. These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors, which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
Such factors include, among others, the timing and completion of
contemplated financings, the actual use of proceeds, receipt of
regulatory approvals and the timing and success of future
exploration, development and production activities. The Company
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise
required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: BCGold Corp. Corporate Communications
604-697-2403bcgir@bcgoldcorp.com www.bcgoldcorp.com