Barkerville Gold Mining (fka BGMZF)

[howestreetbull]

BGMZF BGM.v BGM Intersects 72.23 g/t Au Over 12.05 Metres at Shaft Zone
by @newswire on September 26, 2017
SUBINTERVAL INCLUDES 158.19 G/T AU OVER 5.30 METRES

TORONTO, Sept. 26, 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 and infill drilling program at the Company's flagship Cariboo Gold Project. The Company is currently exploring and delineating the Valley and Shaft Zones with nine drill rigs, while a tenth drill 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-17-142: 7.54 g/t Au over 14.30 metres
IM-17-142: 10.04 g/t Au over 8.20 metres
IM-17-151: 16.15 g/t Au over 3.55 metres
IM-17-151: 72.23 g/t Au over 12.05 metres
IM-17-152: 20.07 g/t Au over 4.25 metres
Alpha Corridor at Shaft Zone Demonstrates High Gold Tenor

The Company is very pleased to announce the intersection of the highest gold grades encountered at the Shaft Zone to date. Phase II infill drillhole IM-17-151 predictably intersected a modelled veining corridor now referred to as the 'Alpha Corridor', averaging 158.19 g/t Au over 5.30 metres including 750.00 g/t Au over 0.55 metres, 479.00 g/t Au over 0.50 metres and 234.00 g/t Au over 0.60 metres hosted within a larger interval grading 72.23 g/t Au over 12.05 metres. This Phase II drilling result is situated in the Shaft Zone at a vertical depth of 350 metres below surface and correlates spatially with previously reported drillhole IM-17-112 which intersected 11.37 g/t Au over 4.75 metres. The two drillholes are separated by a horizontal distance of 15 metres. This new intersection in the Alpha Corridor remains open for expansion along vein strike to the southwest of IM-17-151.

Development of Other Corridors

Phase II drillhole IM-17-142 intersected 10.04 g/t Au over 8.20 metres at a vertical depth of 350 metres below surface. This pierce point occurs 180 metres down vein dip of previously reported drillhole IM-17-141 which recently discovered a wide zone of veining grading 6.09 g/t Au over 20.40 metres. Situated 50 metres down vein plunge of the new IM-17-142 intersection, formerly disclosed drillhole IM-17-044 intersected two zones within the same corridor grading 21.23 g/t Au over 5.05 metres and 24.70 g/t Au over 6.60 metres.

Shaft Zone - Corridor Discussion

The sandstone hosted veining which constitutes the Alpha Corridor of the Shaft Zone is manifested as an anastomosing network of high vein density with an overall sub-vertical dip and northeast strike. Based upon drilling results to date, estimated horizontal widths of the Alpha Corridor are variable and range from 5 to 35 metres. This corridor, as well as others that are developing in the Shaft and Valley Zones have been defined from surface to a vertical depth of 600 metres and remain open for expansion to depth and down plunge. Drillhole spacing in the Alpha currently averages 25 metres between drilling sections with vertical drilling separations ranging from 20 to 75 metres with hole spacing increasing to depth. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

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-17-142
32.00
32.60
0.60
23.90
IM-17-142
97.20
111.50
14.30
7.54
INCLUDING
105.90
107.50
1.60
13.90
AND
108.85
109.45
0.60
72.90
AND
111.00
111.50
0.50
54.40
IM-17-142
138.50
140.00
1.50
10.95
IM-17-142
185.50
187.00
1.50
9.82
IM-17-142
395.70
403.90
8.20
10.04
INCLUDING
395.70
396.35
0.65
35.20
AND
401.00
401.85
0.85
14.80
AND
402.50
403.90
1.40
32.60
IM-17-142
418.50
419.25
0.75
9.00
IM-17-142
469.30
469.85
0.55
16.55
IM-17-144
113.10
113.60
0.50
18.35
IM-17-144
322.10
322.60
0.50
11.95
IM-17-144
466.50
467.00
0.50
10.55
IM-17-144
474.45
477.75
3.30
8.04
INCLUDING
474.45
475.25
0.80
7.53
AND
475.25
476.00
0.75
12.55
AND
476.00
476.50
0.50
15.95
IM-17-144
484.60
485.10
0.50
18.50
IM-17-144
499.80
501.80
2.00
8.80
INCLUDING
499.80
500.30
0.50
17.95
IM-17-144
612.40
613.65
1.25
11.25
IM-17-144
651.35
652.10
0.75
10.60
IM-17-144
689.30
689.80
0.50
13.55
IM-17-144
690.45
691.30
0.85
22.00
IM-17-145



ASSAYS PENDING
IM-17-147
283.75
284.35
0.60
21.30
IM-17-147
315.65
316.20
0.55
66.10
IM-17-147
421.30
422.55
1.25
21.70
IM-17-148
135.10
135.65
0.55
9.73
IM-17-148
164.50
165.00
0.50
6.98
IM-17-148
189.80
190.80
1.00
7.45
IM-17-149
308.00
308.50
0.50
19.50
IM-17-149
455.75
456.45
0.70
6.96
IM-17-149
548.70
549.55
0.85
14.60
IM-17-150
18.20
19.00
0.80
28.60
IM-17-150
86.50
90.60
4.10
9.29
INCLUDING
88.00
88.80
0.80
24.50
AND
89.50
90.60
1.10
14.85
IM-17-150
229.25
230.75
1.50
5.33
IM-17-150
232.55
233.60
1.05
5.45
IM-17-150
237.00
237.50
0.50
11.90
IM-17-150
272.20
272.70
0.50
9.96
IM-17-150
299.80
300.80
1.00
14.55
IM-17-150
305.95
306.70
0.75
8.97
IM-17-150
439.15
439.70
0.55
6.16
IM-17-150
443.30
444.00
0.70
52.50
IM-17-150
501.75
504.35
2.60
8.37
INCLUDING
502.80
503.35
0.55
22.40
IM-17-151
16.00
19.55
3.55
16.15
INCLUDING
16.85
17.50
0.65
31.20
AND
18.35
18.85
0.50
67.00
IM-17-151
90.65
93.00
2.35
12.28
INCLUDING
90.65
91.30
0.65
10.85
AND
91.80
92.35
0.55
24.30
AND
92.35
93.00
0.65
12.90
IM-17-151
99.50
100.50
1.00
33.20
IM-17-151
169.70
170.40
0.70
20.10
IM-17-151
172.95
173.60
0.65
10.75
IM-17-151
284.05
284.75
0.70
25.20
IM-17-151
292.00
292.50
0.50
15.75
IM-17-151
307.65
308.15
0.50
30.10
IM-17-151
395.20
407.25
12.05
72.23
INCLUDING
401.95
407.25
5.30
158.19
INCLUDING
401.95
402.50
0.55
750.00
AND
402.50
403.00
0.50
479.00
AND
403.00
403.60
0.60
234.00
AND
403.60
404.30
0.70
9.67
AND
404.30
405.00
0.70
14.75
AND
405.00
405.50
0.50
14.75
AND
406.25
407.25
1.00
18.25
IM-17-151
478.00
479.00
1.00
9.81
IM-17-151
540.50
542.00
1.50
9.42
IM-17-152
9.00
9.50
0.50
18.75
IM-17-152
30.40
31.70
1.30
38.50
INCLUDING
30.40
31.00
0.60
16.45
AND
31.00
31.70
0.70
57.40
IM-17-152
58.85
59.50
0.65
31.60
IM-17-152
114.50
115.15
0.65
22.40
IM-17-152
141.75
146.00
4.25
20.07
INCLUDING
142.70
143.50
0.80
78.60
AND
143.50
144.00
0.50
20.60
IM-17-152
266.00
267.00
1.00
8.24
IM-17-152
361.50
366.00
4.50
8.13
INCLUDING
361.50
362.00
0.50
28.80
AND
362.70
363.50
0.80
11.85
AND
365.20
366.00
0.80
10.75
IM-17-153
29.90
30.40
0.50
31.10
IM-17-153
30.90
31.55
0.65
42.00
IM-17-153
76.70
78.00
1.30
17.60
IM-17-153
183.95
186.50
2.55
35.89
INCLUDING
184.85
185.40
0.55
51.50
AND
185.40
186.00
0.60
94.60
IM-17-153
242.60
243.90
1.30
11.90
IM-17-153-1
360.00
360.90
0.90
13.70
IM-17-153-1
364.50
365.00
0.50
12.45
IM-17-153-1
389.35
390.20
0.85
9.09


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-17-142
146.20
-63.90
IM-17-144
130.20
-45.50
IM-17-147
136.70
-45.00
IM-17-148
140.20
-50.70
IM-17-149
140.80
-65.20
IM-17-150
136.40
-44.80
IM-17-151
138.40
-64.70
IM-17-152
140.80
-44.50
IM-17-153
142.60
-64.00
IM-17-153-1
142.60
-64.00



Alpha Corridor Longitudinal Section (CNW Group/Barkerville Gold Mines Ltd.)

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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