Mosquito Creek Expands to Depth
TORONTO, April 26, 2017 /CNW/ - Barkerville Gold Mines
Ltd. (TSXV: BGM) (the "Company" or "Barkerville")
is pleased to announce a new discovery from the ongoing 130,000
metre Phase II Island Mountain exploration drilling program at the
Company's flagship Cariboo Gold Project. The Company is
currently exploring and delineating the Valley Zone with four drill
rigs. Detailed drilling results, a drill hole location plan
map, level plan and longitudinal section are presented at the end
of this release.
New Veining Intersected at Depth at Mosquito Creek
Located at a vertical depth of 280 metres below surface,
drillhole IM-17-081 intersected a new veining occurrence averaging
23.31 g/t Au over 7.80 metres. This veining occurs in the
largely untested area between the former Aurum and Mosquito Creek
Mines. Further downhole, at a vertical depth of 400 metres below
surface, a second vein set grading 7.43 g/t Au over 2.00
metres was also intersected. Because of the lack of drilling at
this depth, these two occurrences are open for expansion.
Shaft Zone Expands
Drillhole IM-17-085 has intersected series of veins averaging
13.63 g/t Au over 14.55 metres at a vertical depth of 250
metres below surface in the Shaft Zone. This intersection occurs 45
metres along vein strike of previously reported drillhole IM-17-036
which graded 16.96 g/t Au over 5.15 metres hosted in an
analogous vein set. Again, this new occurrence is open for
expansion in all directions.
The geometry and hence true width of these mineralized
intercepts cannot be assuredly concluded at this time based on the
information available.
"Our pragmatic and disciplined exploration approach of drill
testing the Shaft and Mosquito Creek Zones on aggressively spaced
100 metre drill centres to determine the extents of the mineralized
system is consistently generating new zones of veining on Island
Mountain", remarked Paul Geddes,
P.Geo. the Company's Vice President Exploration. "Guided by our
technical teams geological understanding of the controls on
mineralization at the Cariboo Gold Project, our success rate has
increased dramatically and we are eager to begin an infill drilling
program on these new targets while still advancing the target
pipeline with aggressively spaced exploratory drilling in this
large gold system."
About the Phase II Program
The 130,000 metre 2017 Phase II exploratory and delineation
drill program on Island Mountain is intended to determine the
extent of the vein systems that were historically never explored,
and is aimed at discovering new vein systems and sulphide
replacement bodies that will ultimately inform a maiden resource at
Island Mountain. Seven drill rigs are currently operating on Island
Mountain, with an eighth rig testing for additional mineralization
below the former Aurum and Cariboo Gold Quartz Mines which have
never been explored since mining operations ceased circa 1960.
Qualified Persons
Exploration activities at the Cariboo Gold Project are
administered on site by the Company's Exploration Manager,
Maggie Layman, 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 and scientific
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 the Company's Qualified Person,
Paul Geddes, P.Geo, Vice President
Exploration.
Drill core samples are submitted to ALS Geochemistry's
analytical facility in North Vancouver,
British Columbia for preparation and analysis. The ALS
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 250 grams is pulverized. Analysis for
gold is by 50g fire assay fusion with atomic absorption (AAS)
finish with a lower limit of 0.01 ppm and upper limit of 100 ppm.
Samples with gold assays greater than 100 ppm are re-analyzed using
a 1,000g screen metallic fire assay. A selected number of samples
are also analyzed using a 48 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).
About Barkerville Gold Mines Ltd.
The Company is
focused on developing its extensive land package located in the
historical Cariboo Mining District of central British Columbia. Barkerville'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 Barkerville 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 2015 with 91,489
tonnes of ore milled producing 25,464 ounces of gold. The Company
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.
Table 1: Length weighted gold composites for Island Mountain
Phase II drillholes:
HOLE-ID
|
FROM
(M)
|
TO
(M)
|
CORE LENGTH
(M)
|
AU
(G/T)
|
AREA
|
IM-17-079
|
29.85
|
30.70
|
0.85
|
8.89
|
MC
|
IM-17-079
|
249.40
|
249.95
|
0.55
|
5.65
|
MC
|
IM-17-080
|
148.00
|
152.30
|
4.30
|
4.82
|
MC
|
INCL
|
151.20
|
151.75
|
0.55
|
20.20
|
MC
|
IM-17-081
|
175.30
|
176.30
|
1.00
|
10.90
|
MC
|
IM-17-081
|
257.50
|
258.00
|
0.50
|
28.10
|
MC
|
IM-17-081
|
283.70
|
291.50
|
7.80
|
23.31
|
MC
|
INCL
|
283.70
|
284.50
|
0.80
|
10.15
|
MC
|
AND
|
286.10
|
287.60
|
1.50
|
25.40
|
MC
|
AND
|
287.60
|
288.50
|
0.90
|
18.25
|
MC
|
AND
|
288.50
|
289.50
|
1.00
|
55.70
|
MC
|
AND
|
289.50
|
290.15
|
0.65
|
31.50
|
MC
|
AND
|
290.15
|
291.00
|
0.85
|
48.20
|
MC
|
IM-17-081
|
402.50
|
404.50
|
2.00
|
7.43
|
MC
|
IM-17-082
|
113.00
|
113.50
|
0.50
|
47.60
|
SHAFT
|
IM-17-082
|
139.60
|
140.15
|
0.55
|
6.03
|
SHAFT
|
IM-17-082
|
178.85
|
183.10
|
4.25
|
5.60
|
SHAFT
|
INCL
|
179.90
|
180.90
|
1.00
|
14.80
|
SHAFT
|
IM-17-082
|
200.30
|
200.80
|
0.50
|
21.10
|
SHAFT
|
IM-17-082
|
209.20
|
209.70
|
0.50
|
28.00
|
SHAFT
|
IM-17-082
|
297.60
|
298.80
|
1.20
|
5.56
|
SHAFT
|
IM-17-083
|
20.65
|
21.15
|
0.50
|
11.30
|
SHAFT
|
IM-17-083
|
216.10
|
216.60
|
0.50
|
8.28
|
SHAFT
|
IM-17-083
|
221.65
|
229.25
|
7.60
|
5.78
|
SHAFT
|
INCL
|
221.65
|
222.30
|
0.65
|
21.90
|
SHAFT
|
AND
|
223.50
|
224.00
|
0.50
|
18.05
|
SHAFT
|
AND
|
228.75
|
229.25
|
0.50
|
29.90
|
SHAFT
|
IM-17-084
|
|
|
|
NSA
|
MC
|
IM-17-085
|
291.60
|
292.30
|
0.70
|
21.40
|
SHAFT
|
IM-17-085
|
366.45
|
381.00
|
14.55
|
13.63
|
SHAFT
|
INCL
|
367.40
|
368.45
|
1.05
|
32.60
|
SHAFT
|
AND
|
369.70
|
370.20
|
0.50
|
26.80
|
SHAFT
|
AND
|
377.00
|
377.85
|
0.85
|
155.00
|
SHAFT
|
AND
|
378.65
|
379.15
|
0.50
|
10.55
|
SHAFT
|
True widths cannot be accurately determined from the
information available therefore core lengths are reported. Rock not
recovered by drilling was assigned zero grade. Top cuts have not
been applied to high grade assays. MC = Mosquito Creek, SHAFT =
Shaft Zone.
Table 2: Drillhole Collar Orientations:
HOLE-ID
|
AZIMUTH
|
DIP
|
IM-17-079
|
136.90
|
-45.20
|
IM-17-081
|
139.20
|
-66.30
|
IM-17-083
|
137.30
|
-41.40
|
IM-17-080
|
138.60
|
-45.30
|
IM-17-082
|
142.40
|
-45.00
|
IM-17-084
|
136.60
|
-45.90
|
IM-17-085
|
139.20
|
-64.30
|
SOURCE Barkerville Gold Mines Ltd.