BGM.v Gold Summary for June 9, 20162016-06-09 18:27 ET - Market Summary by Stockwatch Business Reporter
Tom Obradovich and Sean Roosen's Barkerville Gold Mines Ltd. ($BGM), up nine cents to 64 cents on 2.40 million shares, has received assays of up to 9.97 grams of gold per tonne over 31 metres at Barkerville Mountain on its Cariboo gold project in British Columbia. The assays revealed several other high-grade results, including 23.28 grams per tonne over 7.0 metres and 20.64 grams per tonne over 7.25 metres. Most of the high-grade assays came from infill drilling in the main BCV zone, which adjoins the Bonanza Ledge deposit at Barkerville Mountain, although drilling at the TC area produced up to 10.94 grams per tonne over eight metres. Chris Lodder, president, says the latest assays "demonstrate the potential for further near-surface, high-grade gold resources" beyond the main zone.
Mr. Obradovich, CEO, and Mr. Lodder say that Barkerville's priority is the resumption of small-scale gold production at Bonanza Ledge and the BCV zone this year. The company plans to mine about 200,000 tonnes at 7.0 grams per tonne starting late this year, while continuing to develop a resource for BCV. As well, Barkerville plans to "upgrade, define and expand" its resource at Cow Mountain, another Cariboo deposit, which currently hosts 35.8 million tonnes indicated at 2.4 grams per tonne and another 27.5 million tonnes inferred at 2.3 grams per tonne, for a total of 4.8 million ounces. Following that, the company wants to start a feasibility study.
Mr. Obradovich, who replaced Frank Callaghan as full-time CEO in early 2015, currently receives $300,000 per year. (Mr. Callaghan, who left in mid-2014, had been pulling in $240,000 per year as president and CEO; Norman Anderson then served several months as interim head.)
