Barkerville Gold Mining (fka BGMZF)

[howestreetbull]

BGMZF BGM.v BGM Intersects 17.45 g/t Au Over 8.60 Metres at Shaft Zone
by @newswire on September 14, 2017

Expansion Drilling Intersects 7.09 g/t Au Over 34.30 Metres at Depth

TORONTO, Sept. 14, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce that additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration and infill drilling program at the Company's flagship Cariboo Gold Project has expanded a veining corridor at depth in the Shaft Zone. The Company is currently exploring and delineating the Valley and Shaft Zones with nine drill rigs, while drill ten is expanding the known mineralization on the BC Vein. Detailed drilling results, a drill hole location plan map and vertical section are presented at the end of this release. The exact geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time therefore core lengths are reported.

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

Highlights:

IM-17-123: 5.76 g/t Au over 20.30 metres
IM-17-140: 16.79 g/t Au over 4.00 metres
IM-17-141: 6.09 g/t Au over 20.40 metres
IM-17-141: 11.17 g/t Au over 3.40 metres
IM-17-143: 7.09 g/t Au over 34.30 metres
IM-17-146: 17.45 g/t Au over 8.60 metres
Drilling Expands Shaft Zone Corridors to Depth

The Company is pleased to report that Phase II step-out drillhole IM-17-143 has expanded to depth one of the Shaft Zone veining corridors intersecting 7.09 g/t Au over 34.30 metres at a vertical depth of 425 metres below surface. This occurrence is located 50 metres downdip of recently reported drillhole IM-17-131 which averaged 53.26 g/t Au over 11.55 metres, 390 metres vertically below surface and represents an area at depth open for immediate expansion.

Located in the southeastern portion of the Shaft Zone at a vertical depth of 300 metres below surface, IM-17-146 has discovered another new occurrence of high tenor veining grading 17.45 g/t Au over 8.60 metres. Again, this new area is open for expansion along vein strike and to depth due to the scarcity of drilling in this area.

"The Phase II drilling program at Island Mountain continues to yield strong results with respect to expanding upon the sizeable, high tenor vein corridors that are potentially amenable to bulk underground mining methods", remarked Paul Geddes, P.Geo, the Company's Vice President of Exploration. "As we continue to infill the Shaft Zone and expand the known corridors, we are not only demonstrating the continuity but the size of this impressive gold system."

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 Shaft Zone Phase II drillholes:

HOLE-ID
FROM (M)
TO (M)
CORE LENGTH (M)
AU (G/T)
IM-17-123
69.25
69.75
0.50
30.00
IM-17-123
86.65
88.00
1.35
28.90
IM-17-123
415.50
418.50
3.00
25.20
INCLUDING
416.00
416.75
0.75
45.70
AND
416.75
417.30
0.55
12.00
AND
417.30
417.85
0.55
61.40
IM-17-123
438.95
439.45
0.50
11.05
IM-17-123
534.50
554.80
20.30
5.76
INCLUDING
542.00
543.05
1.05
24.80
AND
543.80
545.10
1.30
45.30
IM-17-123
565.50
566.40
0.90
15.60
IM-17-123
580.25
580.95
0.70
17.00
IM-17-123
584.00
585.00
1.00
11.65
IM-17-123
629.00
630.00
1.00
15.65
IM-17-123
633.00
633.65
0.65
9.70
IM-17-140
105.00
105.50
0.50
30.80
IM-17-140
208.50
209.70
1.20
38.00
IM-17-140
372.00
376.00
4.00
16.79
INCLUDING
372.85
373.65
0.80
38.00
AND
373.65
374.50
0.85
40.70
IM-17-140
433.00
434.10
1.10
23.50
IM-17-141
107.00
115.20
8.20
6.08
INCLUDING
107.00
107.50
0.50
51.60
AND
112.00
112.50
0.50
11.95
IM-17-141
139.20
141.20
2.00
32.51
INCLUDING
139.20
140.00
0.80
27.40
AND
140.00
140.70
0.70
61.40
IM-17-141
150.30
151.80
1.50
26.00
INCLUDING
150.30
150.90
0.60
43.70
AND
150.90
151.80
0.90
14.20
IM-17-141
166.50
167.00
0.50
8.27
IM-17-141
197.30
200.70
3.40
11.17
INCLUDING
197.30
198.80
1.50
11.60
AND
200.00
200.70
0.70
25.90
IM-17-141
224.50
244.90
20.40
6.09
INCLUDING
224.50
225.20
0.70
10.80
AND
231.75
232.80
1.05
80.40
AND
239.70
240.50
0.80
16.35
AND
241.80
242.40
0.60
8.60
IM-17-141
254.80
258.95
4.15
8.83
INCLUDING
254.80
255.30
0.50
9.55
AND
255.30
256.20
0.90
17.35
AND
258.30
258.95
0.65
24.40
IM-17-141
385.13
385.90
0.77
11.20
IM-17-141
413.05
414.05
1.00
7.64
IM-17-142



ASSAYS PENDING
IM-17-143
274.50
276.00
1.50
6.26
IM-17-143
389.00
390.40
1.40
8.86
IM-17-143
396.70
397.50
0.80
16.85
IM-17-143
431.35
431.90
0.55
5.65
IM-17-143
436.45
437.00
0.55
25.50
IM-17-143
437.00
437.50
0.50
9.70
IM-17-143
461.00
495.30
34.30
7.09
INCLUDING
461.00
462.10
1.10
36.60
AND
462.10
462.65
0.55
16.80
AND
472.90
474.20
1.30
61.50
AND
477.45
478.00
0.55
8.68
AND
480.10
480.80
0.70
12.45
AND
482.10
483.00
0.90
17.90
AND
486.50
487.45
0.95
13.85
AND
489.80
491.00
1.20
18.35
AND
491.00
491.65
0.65
11.20
IM-17-143
613.70
614.50
0.80
83.20
IM-17-144



ASSAYS PENDING
IM-17-145



ASSAYS PENDING
IM-17-146
52.20
54.90
2.70
21.27
INCLUDING
52.20
52.90
0.70
10.30
AND
52.90
54.00
1.10
45.40
IM-17-146
173.30
174.20
0.90
23.10
IM-17-146
259.00
260.15
1.15
10.20
IM-17-146
340.25
341.55
1.30
12.28
IM-17-146
349.70
350.20
0.50
54.50
IM-17-146
436.50
437.05
0.55
8.28
IM-17-146
457.00
457.50
0.50
9.58
IM-17-146
484.00
484.75
0.75
7.87
IM-17-146
485.90
486.65
0.75
8.31
IM-17-146
523.35
531.95
8.60
17.45
INCLUDING
523.35
523.85
0.50
34.60
AND
523.85
524.50
0.65
11.30
AND
524.50
525.30
0.80
25.60
AND
525.30
526.05
0.75
98.00
AND
526.90
527.50
0.60
21.30
AND
531.40
531.95
0.55
30.60


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.

Table 2: Drillhole Collar Orientations:

HOLE-ID
AZIMUTH
DIP
IM-17-140
140.40
-65.20
IM-17-143
129.70
-63.50
IM-17-146
138.40
-55.50
IM-17-123
127.40
-65.10
IM-17-141
145.40
-46.40

Island Mountain Vertical Section - Shaft Zone (CNW Group/Barkerville Gold Mines Ltd.)

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

SOURCE Barkerville Gold Mines Ltd.


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