InvestorsHub Logo
Followers 16
Posts 6762
Boards Moderated 1
Alias Born 06/06/2007

Re: howestreetbull post# 5894

Wednesday, 06/21/2017 8:38:36 AM

Wednesday, June 21, 2017 8:38:36 AM

Post# of 7199
BGM Intersects 17.55 G/T Au Over 6.20 Metres at Valley Zone

Veining Corridors Continue to Expand
by @newswire on June 21, 2017

TORONTO, June 21, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce additional drilling 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 Valley Zone with four drill rigs. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.

Drilling Highlights:

CM-17-021: 10.77 g/t Au over 5.90 metres
CM-17-025: 17.55 g/t Au over 6.20 metres
CM-17-044: 5.44 g/t Au over 13.95 metres
The geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time and as such, core lengths are reported.

Veining Corridors Continue to Expand

Phase II drillhole CM-17-021 has intersected two new veining occurrences at vertical depths of 125 and 145 metres vertically below surface grading 9.32 g/t Au over 4.15 metres and 10.77 g/t Au over 5.90 metres respectively. Located on the southeastern strike of the Valley Zone, drillhole CM-17-025 intersected a new occurrence grading 17.55 g/t Au over 6.20 metres, 75 metres vertically below surface. As well, drillhole CM-17-044 discovered additional new veining occurrences in a broad corridor grading 5.44 g/t Au over 13.95 metres 54 metres below surface.

"We are seeing repeated success with targeting and intercepting mineralized vein systems across our current drilling program areas." Kyle Orr, Senior Geologist with BGM commented. "These latest results provide more evidence that the Cow Mountain and Island Mountain areas are connected through continuous, high grade gold mineralization in the Valley Zone."

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. Four drill rigs are currently delineating additional mineralization below and on strike from the former Aurum and Cariboo Gold Quartz Mines which have never been explored since mining operations ceased circa 1967. Three rigs are testing down dip mineralization on Cow Mountain and in the Valley Zone. One rig is drilling new targets identified in 2016 located on Barkerville Mountain.

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 2,110 square kilometres along a strike length of 67 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 material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in 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 Valley Zone drillholes:

HOLE-ID
FROM (M)
TO (M)
CORE LENGTH (M)
AU (G/T)
CM-17-021
171.35
175.50
4.15
9.32
INCLUDING
171.35
171.85
0.50
29.30
AND
173.45
174.10
0.65
34.70
CM-17-021
194.20
200.10
5.90
10.77
INCLUDING
196.40
196.90
0.50
93.00
AND
196.90
197.50
0.60
19.35
AND
198.00
198.60
0.60
6.52
CM-17-021
232.50
233.05
0.55
8.15
CM-17-025
53.75
54.25
0.50
15.60
CM-17-025
79.00
85.20
6.20
17.55
INCLUDING
83.75
84.35
0.60
83.10
AND
84.35
85.20
0.85
64.60
CM-17-025
164.00
164.65
0.65
13.90
CM-17-029
287.85
288.60
0.75
8.76
CM-17-029
349.00
349.50
0.50
46.70
CM-17-030



ASSAYS PENDING
CM-17-031



ABANDONED
CM-17-032
68.25
68.90
0.65
19.70
CM-17-032
215.20
215.70
0.50
14.10
CM-17-032
228.25
229.00
0.75
18.75
CM-17-032
287.35
288.20
0.85
10.05
CM-17-032
339.20
339.80
0.60
10.35
CM-17-033
144.65
145.30
0.65
26.40
CM-17-033
281.85
282.45
0.60
12.40
CM-17-033
302.50
304.00
1.50
9.74
CM-17-034



ABANDONED
CM-17-035
85.80
86.35
0.55
22.90
CM-17-035
87.50
88.00
0.50
36.20
CM-17-035
96.40
97.00
0.60
15.30
CM-17-035
103.65
104.30
0.65
45.80
CM-17-035
115.70
116.40
0.70
15.40
CM-17-035
121.80
125.65
3.85
6.46
INCLUDING
121.80
122.50
0.70
15.25
AND
124.50
125.10
0.60
11.85
CM-17-035
128.50
129.50
1.00
8.91
CM-17-035
132.05
133.00
0.95
10.95
CM-17-036
76.00
77.00
1.00
6.19
CM-17-036
198.15
198.70
0.55
12.15
CM-17-036
384.30
384.80
0.50
20.40
CM-17-037
296.65
300.40
3.75
4.19
INCLUDING
296.65
297.25
0.60
7.58
AND
297.80
298.30
0.50
7.57
AND
298.30
299.15
0.85
5.32
CM-17-037
313.00
313.50
0.50
12.20
CM-17-037
466.75
467.50
0.75
9.87
CM-17-037
476.45
476.95
0.50
7.89
CM-17-037
481.15
481.65
0.50
9.62
CM-17-037
499.50
500.00
0.50
8.43
CM-17-037
523.30
524.00
0.70
12.85
CM-17-037
529.55
530.05
0.50
12.05
CM-17-037
532.90
533.40
0.50
15.40
CM-17-038
60.75
61.40
0.65
10.65
CM-17-038
191.75
193.00
1.25
13.80
CM-17-038
200.50
201.10
0.60
9.72
CM-17-038
259.50
260.00
0.50
8.44
CM-17-038
295.00
296.00
1.00
8.66
CM-17-038
298.00
298.60
0.60
10.45
CM-17-039
64.55
65.05
0.50
21.60
CM-17-039
152.50
153.20
0.70
15.80
CM-17-039
356.40
356.90
0.50
16.30
CM-17-040
140.60
141.10
0.50
13.30
CM-17-040
161.00
165.20
4.20
8.44
INCLUDING
162.20
162.80
0.60
25.10
AND
162.80
163.30
0.50
20.40
AND
163.30
163.80
0.50
17.55
CM-17-040
200.00
201.10
1.10
7.78
CM-17-040
211.30
212.00
0.70
12.80
CM-17-040
217.00
217.50
0.50
13.40
CM-17-040
228.80
229.60
0.80
35.90
CM-17-040
235.80
236.60
0.80
37.20
CM-17-040
237.60
238.35
0.75
14.85
CM-17-040
255.30
255.80
0.50
56.60
CM-17-041
133.60
134.10
0.50
29.30
CM-17-041
252.65
253.60
0.95
22.70
CM-17-042
70.15
70.70
0.55
33.10
CM-17-042
97.00
97.65
0.65
10.40
CM-17-042
141.40
142.00
0.60
21.60
CM-17-042
156.00
156.50
0.50
29.80
CM-17-042
189.65
190.15
0.50
14.25
CM-17-042
191.50
192.00
0.50
16.50
CM-17-042
204.00
204.50
0.50
17.75
CM-17-042
349.55
350.20
0.65
12.05
CM-17-043
207.50
208.20
0.70
9.87
CM-17-043
249.30
249.80
0.50
21.70
CM-17-044
76.20
90.15
13.95
5.44
INCLUDING
76.20
76.70
0.50
40.00
AND
81.70
82.25
0.55
23.70
AND
86.75
87.25
0.50
18.45
AND
88.15
88.65
0.50
8.59
AND
89.65
90.15
0.50
54.80
CM-17-044
119.50
120.20
0.70
20.80
CM-17-044
124.45
125.05
0.60
12.30
CM-17-044
430.10
430.85
0.75
43.50
CM-17-044
459.35
460.05
0.70
17.90
CM-17-045
124.30
125.00
0.70
26.00
CM-17-045
165.55
166.55
1.00
14.10


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, VALLEY = Valley Zone.

Table 2: Drillhole Collar Orientations:

HOLE-ID
AZIMUTH
DIP
HOLE-ID
AZIMUTH
DIP
CM-17-021
310.00
-45.00
CM-17-042
129.50
-44.90
CM-17-025
127.30
-61.20
CM-17-043
130.00
-45.00
CM-17-029
130.30
-45.30
CM-17-044
310.00
-45.00
CM-17-030
310.00
-45.00
CM-17-045
310.00
-50.20
CM-17-031
310.00
-45.00
CM-17-046
317.10
-44.70
CM-17-032
130.00
-44.90
CM-17-047
307.40
-46.50
CM-17-033
220.00
-45.00
CM-17-048
310.00
-55.00
CM-17-034
310.00
-45.00
CM-17-049
128.30
-46.10
CM-17-035
220.00
-65.00
CM-17-050
316.90
-58.80
CM-17-036
126.60
-45.30
CM-17-051
130.00
-45.00
CM-17-037
310.00
-43.80
CM-17-053
132.00
-61.30
CM-17-038
130.00
-44.20
CM-17-054
305.10
-57.10
CM-17-039
127.80
-45.00
CM-17-055
316.10
-54.30
CM-17-040
314.00
-45.00
CM-17-057
130.00
-41.30
CM-17-041
310.00
-67.00
CM-17-058
224.80
-44.30


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



Valley Zone Vertical Section (CNW Group/Barkerville Gold Mines Ltd.)



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



Barkerville Gold Mines Ltd. (CNW Group/Barkerville Gold Mines Ltd.)

SOURCE Barkerville Gold Mines Ltd.


View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2017/21/c1818.html


Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.