Barkerville Gold Mining (fka BGMZF)

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BGMZF Intersects 15.04 g/t Au over 8.05 Metres at Shaft Zone
by @newswire on April 11, 2017
New Valley Zone Drilling Demonstrates Depth Continuity

TORONTO, April 11, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce additional results 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 new 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.

Drilling Highlights:

CM-17-012: 10.35 g/t Au over 7.85 metres
CM-17-012: 6.62 g/t Au over 5.85 metres
IM-17-060: 8.21 g/t Au over 3.75 metres
IM-17-063: 15.04 g/t Au over 8.05 metres
Note: True widths cannot be accurately determined from the information available therefore core lengths are reported.

New Deep Drilling at Valley Zone

The Company is very pleased to announce that the first drillhole to test the Valley Zone since the former Cariboo Gold Quartz Mine development ceased circa 1960 has successfully demonstrated the existence of auriferous veining in the near surface and at new depths. Drillhole CM-17-012 was collared in the valley between Cow and Island Mountains and intersected veining grading 10.35 g/t Au over 7.85 metres at a vertical depth of 75 metres below surface followed by a second vein set averaging 6.52 g/t Au over 3.05 metres. At a vertical depth of 310 metres, the same drillhole intersected a new occurrence of veining at the Shaft Zone grading 6.52 g/t Au over 5.85 metres in an area that was never historically explored or developed. Further down the hole at a depth below surface of 400 metres, a fourth occurrence of veining was intersected grading 10.15 g/t Au over 0.80 metres. These latter intersections represent the deepest occurrences of vein mineralization drilled to date at the Cariboo Gold Project, are untested by drilling in all directions and remain open for expansion.

Shaft Zone Continues to Expand to Depth

Infill drillhole IM-17-063 intersected 15.04 g/t Au over 8.05 metres 80 metres vertically below surface in the southeastern extension of the Shaft Zone. The veining and semi-massive sulphide replacement style mineralization demonstrates exceptional downhole grade continuity as illustrated in Table 1. Drillhole IM-17-052 is located 50 metres along strike to the southwest of this intersection and graded 28.28 g/t Au over 3.30 metres.

Averaging 8.21 g/t Au over 3.75 metres, Shaft Zone step-out drillhole IM-17-060 intersected veining 75 metres down dip of previously reported drillhole IM-17-058 which intersected 31.22 g/t Au over 7.50 metres including 197.00 g/t Au over 1.10 metres. Again, this new occurrence is untested and open for expansion in all directions.

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. 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
CM-17-012
94.50
102.35
7.85
10.35
VALLEY
INCL
94.50
100.10
5.60
13.30
VALLEY
INCL
94.50
95.20
0.70
34.80
VALLEY
AND
98.70
99.35
0.65
21.10
VALLEY
AND
99.35
100.10
0.75
39.40
VALLEY
CM-17-012
117.15
120.20
3.05
6.52
VALLEY
INCL
119.20
120.20
1.00
12.00
VALLEY
CM-17-012
144.00
144.55
0.55
8.27
VALLEY
CM-17-012
206.45
207.20
0.75
25.80
VALLEY
CM-17-012
446.45
452.30
5.85
6.62
VALLEY
INCL
446.45
447.50
1.05
13.65
VALLEY
AND
449.10
450.40
1.30
11.55
VALLEY
CM-17-012
581.90
582.70
0.80
10.15
VALLEY
IM-17-057
322.00
323.00
1.00
7.25
SHAFT
IM-17-060
84.45
84.95
0.50
8.68
SHAFT
IM-17-060
232.25
236.00
3.75
8.21
SHAFT
INCL
232.25
233.15
0.90
11.10
SHAFT
AND
233.85
234.50
0.65
27.10
SHAFT
IM-17-061
45.60
46.50
0.90
39.30
MC
IM-17-061
68.25
70.00
1.75
9.41
MC
INCL
68.25
68.75
0.50
21.20
MC
IM-17-061
335.00
337.50
2.50
6.92
MC
INCL
336.05
336.55
0.50
34.00
MC
IM-17-062
144.65
145.50
0.85
2.89
SHAFT
IM-17-063
169.20
177.25
8.05
15.04
SHAFT
INCL
169.20
169.70
0.50
29.70
SHAFT
AND
170.70
171.20
0.50
21.80
SHAFT
AND
171.20
171.70
0.50
18.40
SHAFT
AND
171.70
172.20
0.50
28.00
SHAFT
AND
172.20
172.70
0.50
60.10
SHAFT
AND
175.20
175.70
0.50
26.50
SHAFT
AND
176.20
176.75
0.55
27.10
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 and not included in the composites. Top cuts have not been applied to high grade assays. NSA – No Significant Assays, Shaft = Shaft Zone, MC = Mosquito Creek.

Table 2: Drillhole Collar Orientations:




HOLE-ID
AZIMUTH
DIP
IM-17-057
136.00
-64.70
IM-17-060
141.10
-65.20
IM-17-061
136.80
-64.10
IM-17-062
139.20
-46.10
IM-17-063
138.10
-44.40
CM-17-012
312.30
-45.60


Island Mountain Drillhole Location Map (CNW Group/Barkerville Gold Mines Ltd.)



Island Mountain Vertical Longitudinal Section (CNW Group/Barkerville Gold Mines Ltd.)



Island Mountain Level Plan Shaft Zone (CNW Group/Barkerville Gold Mines Ltd.)



SOURCE Barkerville Gold Mines Ltd.


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