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.
Video BGM.v/BGMZF today...(Nice Hole:)
Barkerville Gold, symbol BGM on the TSX Venture Exchange, has reported the discovery of a second visible gold-cosalite-pyrite-quartz mineralized zone returning up to 3.4 metres of 459 grams per tonne gold, including 0.8 metres showing 1,942 grams per tonne.
Sector:Mining & Exploration
Added: 13th September 2011
http://www.investmentpitch.com/media/1020/Barkerville_Gold_Mines_Ltd._TSXV:_BGM_News_Alert/
Barkerville Intercepts up to 3.4 m (11.0 feet) of 459 g/T (13.393 oz/t) Gold Including 0.8 m (2.6 feet) of 1,942 g/T or 56.635 oz/T Gold
-Discovers Second and Third Gold Zones on Cow Mountain
http://finance.yahoo.com/news/Barkerville-Intercepts-up-to-ccn-1924077413.html?x=0&.v=1
Barkerville drills up to 3.4 m of 459 g/t Au at Cow Mt.
(Nice!)
2011-09-13 09:20 ET - News Release
Mr. Frank Callaghan reports
BARKERVILLE INTERCEPTS UP TO 3.4 M (11.0 FEET) OF 459 G/T (13.393 OZ/T) GOLD INCLUDING 0.8 M (2.6 FEET) OF 1,942 G/T OR 56.635 OZ/T GOLD-DISCOVERS SECOND AND THIRD GOLD ZONES ON COW MOUNTAIN
Barkerville Gold Mines Ltd. has discovered the second visible gold-cosalite-pyrite-quartz mineralized zone returning up to 1,942 grams per tonne or 56.635 ounces per ton (resplit 2,156 grams per tonne or 62.875 ounces per ton) gold -- the highest gold grade recorded to date in the area. The new zone is parallel/subparallel to the first visible gold-cosalite-quartz-pyrite zone on Cow Mountain reported by the company on June 27 and July 26, and is about 305 metres (1,000 feet) to the mine grid east. Both zones, running mine grid south and north, are outside the perimeter of the proposed Cariboo Gold Quartz (CGQ) open pit on the northwest and west flanks of Cow Mountain on the company's project in central British Columbia.
A third mineralized zone, located mine grid southeast of the proposed CGQ open pit, returned assays grading up to 102 g/T (2.975 oz/t) gold in drill hole CM11-44, is controlled by drill holes CM11-28B & 29 on Pad G, CM11-43 on Pad H, CM11-44 & 45 on Pad M, and CM11-46, 47 & 48 on Pad J-K. The size of the controlled area of the zone is approximately 15 meters (50 feet) around.
The new VG-cosalite-quartz-pyrite zone is controlled respectively by drill holes CM11-85 & 86 on drill pad W, CM11-83& 84 on pad V, M11-93 on pad X6, and CM11-97 on X2 at present, which is about 244 long meters (800 feet). It is preliminarily interpreted that the zone plunges at depth to the mine grid south. Drilling of CM11-97 is still in progress.
For the first time, it is confirmed that, in addition to pyrite, quartz and cosalite (a bismuth and lead sulphide mineral) are also the dominant minerals to carry gold, especially visible gold. Length of visible gold in a quartz vein in CM11-85 is up to 0.7 centimeter and that in drill hole CM11-93 is 0.25-0.50 cm in size.
Drilling on Cow Mountain continues. The Company currently has five drill rigs in operation and a sixth is en route. Results will be released as they become available. Highlights are as follows (see full Table 1 below) and drill sections will be posted on the company's website at www.barkervillegold.com:
CM11-86
- 10.2 m (33.6 feet) of 4.37 g/T (0.101 oz/t) gold between 596.4' and 630.0'
CM11-85
- 2.7 m (8.8 feet) of 23.5 g/T (0.684 oz/t) gold between 934.2' and 943.0'
- including 0.5 m (1.5 feet) of 130 g/T (3.791 oz/T) gold between 938.5'
and 940.0'
- 3.4 m (11.0 feet) of 459 g/T (13.393 oz/t) gold between 1,007' and 1,018'
- including 0.8 m (2.6 feet) of 1,942 g/T or 56.635 oz/T
(resplit 2,156 g/T or 62.875 oz/t) gold between 1,010.4' and 1,013.0'.
CM11-84
- 3.2 m (10.6 feet) of 11.5 g/T (0.336 oz/t) gold between 296.4' and 307.0'
- 5.5 m (18.0 feet) of 3.48 g/T (0.102 oz/t) gold between 749.0' and 767.0'
CM11-83
- 10.8 m (35.4 feet) of 7.69 g/T (0.224 oz/t) gold between 731.6' and 767.0'
- including 1.7 m (5.6 feet) of 30.5 g/T (0.889 oz/t) gold between 751.4'
and 757.0'
CM11-46
- 4.1 m (13.3 feet) of 6.02 g/T (0.175 oz/t) gold between 196.8' and 210.1'
CM11-45
- 1.2 m (3.9 feet) of 24.2 g/T (0.706 oz/t) gold between 208.0' and 211.9'
CM11-44
- 9.1 m (29.9 feet) of 7.90 g/T (0.230 oz/t) gold between 147.0' and 176.9'
- including 2.2 m (7.3 feet) of 29.0 g/T (0.846 oz/t) gold between 166.6'
and 173.9'
- 6.2 m (20.3 feet) of 14.9 g/T (0.434 oz/t) gold between 227.0' and 247.3'
- including 0.6 m (1.9 feet) of 102 g/T (2.975 oz/t) gold between 233.0'
and 234.9'
- 5.3 m (17.3 feet) of 12.4 g/T (0.360 oz/t) gold between 767.6' and 784.9'
- including 1.3 m (4.3 feet) of 44.0 g/T (1.283 oz/t) gold between 777.2'
and 781.5'
CM11-43
- 5.5 m (17.9 feet) of 3.38 g/T (0.099 oz/t) gold between 775.9' and 798.3'
CM11-29
- 3.8 m (12.4 feet) of 5.24 g/T (0.153 oz/t) gold between 146.0' and 158.4'
- including 0.4 m (1.3 feet) of 46.0 g/T (1.341 oz/t) gold between 156.4'
and 157.7'
CM11-28B
- 3.2 m (10.6 feet) of 5.80 g/T (0.169 oz/t) gold between 446.0' and 456.6'
SIGNIFICANT INTERCEPTS OF 2011 DIAMOND DRILL HOLES ON COW MOUNTAIN
DDH# FROM TO WIDTH WIDTH Au Au Ag
(feet) (feet) (feet) (m) (g/t) (oz/t) (g/t)
CM11-28 No drill core (hole got stuck & abandoned)
CM11-28B 75.8 76.8 1.0 0.3 3.04 0.089 N/S
171.2 172.5 1.3 0.4 12.4 0.362 2.8
284.4 296.0 11.6 3.5 2.09(i) 0.061(i) N/S
including
284.4 288.5 4.1 1.2 31.2 0.910 1.6
446.0 456.6 10.6 3.2 5.80(i) 0.169(i) 1.3(i)
496.0 499.5 3.5 1.1 1.26(i) 0.037(i) N/S
528.6 541.6 13.0 4.0 1.26(i) 0.037(i) N/S
583.9 584.9 1.0 0.3 2.00 0.058 N/S
743.3 747.1 3.8 1.2 2.79 0.081 N/S
1115.4 1116.5 1.1 0.3 1.56 0.045 1.0
1216.4 1219.6 3.2 1.0 1.19 0.035 N/S
1291.3 1292.7 1.4 0.4 2.94 0.086 N/S
CM11-29 146.0 158.4 12.4 3.8 5.24(i) 0.153(i) 1.2(i)
including
156.4 157.7 1.3 0.4 46.0 1.341 3.2
247.4 253.0 5.6 1.7 8.43 0.246 N/S
286.3 293.0 6.7 2.0 1.03(i) 0.030(i) N/S
including
290.9 292.0 1.1 0.3 7.25 0.211 N/S
549.6 552.0 2.4 0.7 3.28 0.096 N/S
600.5 605.6 5.1 1.6 2.04 0.059 N/S
879.0 880.7 1.7 0.5 3.09 0.090 N/S
1113.2 1114.4 1.2 0.4 2.89 0.084 N/S
CM11-41 252.8 257.1 4.3 1.3 5.6 0.163 N/S
(hole got stuck & abandoned)
CM11-42 NO SIGNIFICANT ASSAY (hole got stuck & abandoned)
CM11-43 166.4 176.1 9.7 3.0 1.38(i) 0.040(i) N/S
402.9 407.5 4.6 1.4 1.37 0.040(i) N/S
546.1 559.8 13.7 4.2 1.54(i) 0.045(i) N/S
731.8 740.6 8.8 2.7 1.68(i) 0.049(i) N/S
775.9 793.8 17.9 5.5 3.38(i) 0.099(i) N/S
CM11-44 109.0 110.7 1.7 0.5 1.78 0.052 N/S
147.0 176.9 29.9 9.1 7.90(i) 0.230(i) N/S
including
166.6 173.9 7.3 2.2 29.0 0.846 1.2
227.0 247.3 20.3 6.2 14.9(i) 0.434 1.4(i)
including
233.0 234.9 1.9 0.6 102 2.975 9.0
236.9 238.9 2.0 0.6 22.2 0.647 1.8
241.6 243.2 1.6 0.5 29.5 0.860 1.8
657.7 666.6 8.9 2.7 1.418(i) 0.041(i) N/S
767.6 784.9 17.3 5.3 12.4(i) 0.360(i) N/S
including
777.2 781.5 4.3 1.3 44.0 1.283 1.8
CM11-45 74.8 76.3 1.5 0.5 24.4 0.712
80.2 85.1 4.9 1.5 25.6 0.747
208.0 211.9 3.9 1.2 24.2(i) 0.706(i)
230.2 232.6 2.4 0.7 2.57 0.075
310.4 313.0 2.6 0.8 2.88 0.084
330.5 332.9 2.4 0.7 12.0 0.350
CM11-46 196.8 210.1 13.3 4.1 6.02(i) 0.175(i) N/S
including
204.5 207.4 2.9 0.9 27.3 0.796 1.4
391.9 413.8 21.9 6.7 1.03(i) 0.030(i) N/S
542.5 543.9 1.4 0.4 1.46 0.043 N/S
708.7 725.1 16.4 5.0 1.72(i) 0.050(i) N/S
766.6 780.8 14.2 4.3 1.01(i) 0.030(i) N/S
1108.0 1121.8 13.8 4.2 2.20(i) 0.064(i) N/S
CM11-47 171.4 183.9 12.5 3.8 1.60(i) 0.047(i) N/S
337.3 342.1 4.8 1.5 1.40(i) 0.041(i) N/S
CM11-48 55.8 80.4 24.6 7.5 1.80(i) 0.052(i) N/S
99.0 114.8 15.8 4.8 1.03(i) 0.030(i) N/S
CM11-81 234.5 236.0 1.5 0.5 2.18 0.064 N/S
CM11-82 NO SIGNIFICANT ASSAY
CM11-83 205.5 215.0 9.5 2.9 1.44 0.042 N/S
235.5 245.2 9.7 3.0 4.22(i) 0.123(i) N/S
341.9 345.9 4.0 1.2 1.74(i) 0.051(i) N/S
361.8 362.8 1.0 0.3 25.5 0.744 1.0
731.6 767.0 35.4 10.8 7.69(i) 0.224(i) N/S
including
751.4 757.0 5.6 1.7 30.5 0.889 2.0
787.0 799.9 12.9 3.9 4.29(i) 0.125(i) N/S
including
793.4 795.7 2.3 0.7 23.4 0.682 1.2
859.7 867.0 7.3 2.2 34.5 1.006 N/S
1039.4 1055.6 16.2 4.9 12.7(i) 0.369(i) N/S
including
1047.9 1050.0 2.1 0.6 92.0 2.683 8.0
CM11-84 40.0 71.5 31.5 9.6 1.58(i) 0.046(i) N/S
105.8 108.9 3.1 0.9 5.20 0.152 1.0
197.0 207.0 10.0 3.0 7.95(i) 0.232(i) N/S
296.4 307.0 10.6 3.2 11.5(i) 0.336(i) N/S
348.6 352.8 4.2 1.3 3.18 0.093 N/S
440.8 460.6 19.8 6.0 1.24(i) 0.036(i) N/S
584.4 588.3 3.9 1.2 8.62 0.251 N/S
597.0 600.5 3.5 1.1 2.00 0.058 N/S
724.6 729.9 5.3 1.6 1.38 0.040 N/S
729.9 737.0 7.1 2.2 1.17(i) 0.034(i) N/S
749.0 767.0 18.0 5.5 3.48(i) 0.102(i) N/S
CM11-85 394.8 395.8 1.0 0.3 1.10 0.032 N/S
407.8 409.5 1.7 0.5 7.10 0.207 N/S
676.6 687.0 10.4 3.2 4.10(i) 0.120(i) N/S
including
679.2 681.3 2.1 0.6 20.1 0.586 N/S
735.2 747.0 11.8 3.6 4.08(i) 0.119(i) N/S
934.2 943.0 8.8 2.7 23.5(i) 0.684(i) N/S
including
938.5 940.0 1.5 0.5 130.0 3.791 1.4
1007.0 1018.0 11.0 3.4 459(i)13.393(i)29.9(i)
including
1010.4 1013.0 2.6 0.8 1,942 56.635 126
CM11-86 197.0 210.6 13.6 4.1 1.84(i) 0.054(i) N/S
252.2 254.2 2.0 0.6 2.05 0.060 N/S
316.0 317.0 1.0 0.3 3.80 0.111 N/S
527.0 537.0 10.0 3.0 1.86(i) 0.054(i) N/S
596.4 630.0 33.6 10.2 4.37(i) 0.101(i) N/S
Note: N/S - no significant assay;
(i) weighted
-------------------------------------------------------------------------
Drill core processing included descriptive logging and sampling for geochemical analyses. The HQ and NQ-size drill core was cut/split in two halves using saws and a splitter at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core is put in a sample bag. After all the samples are placed in the rice bags at the mine site, they are transported by BGM's personnel to a shipping company in Quesnel for trans-shipment to Eco Tech Lab in Kamloops, B.C. Sample preparation and geochemical assaying is done at Eco Tech Lab, following their own internal standards for quality control and verification. The gold assaying method uses a standard fire assay with AA finish and a metallic gold assay for those samples with visible gold. ETL is certified under the Assayers Certification Program of B.C.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 1,147 square kilometers, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring dore gold in September 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject to government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any of its future gold production.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43
Barkerville Intercepts up to 3.4 m (11.0 feet) of 459 g/T (13.393 oz/t) Gold Including 0.8 m (2.6 feet) of 1,942 g/T or 56.635 oz/T Gold-Discovers Second and Third Gold Zones on Cow Mountain
WOW! These are the kind of headlines you dream about when you're holding an explorer.
http://www.sys-con.com/node/1978744
Barkerville Gold Min (BGM)
1.6 ? -0.04 (-2.44%)
Volume: 243,953 @ 3:59:51 PM ET
Bid Ask Day's Range
1.59 1.6 1.57 - 1.65
TSX:BGM Detailed Quote
gsfi, thanks. that's all I wanted---your opinion. appreciate it; have a good weekend.
I started a position & will watch BGM closely. like that they are producing & expanding their area land position.
regards,
DrBill
This is not advice to buy or sell just my opinion.
BUY BUY BUY
I have already bought my position back with very little worry of downside. Barkerville will be much higher a year from now than it is now.
gsfi, when you sold BGM in mid-May you said you would look at BGM again at $1.50-$1.60. I'm curious. What do you think of BGM now? It looks to me that BGM has been basing and is now starting a positive sloop. I'm considering slowly entering a new position.
I must say I am wary a bit as the catalysts that Management spoke about have not yet been announced. My inclination is to write this off to Management's optimism & mis-judgement about the timing needed to get things done. But, are there any big negatives you are aware of that one should consider before taking a position?
Regards,
DrBill
Barkerville Adds 2,975 Hectares To Its Cariboo Mining Project
Vancouver, BC - Barkerville Gold Mines Ltd. (the "Company") announces that it has completed the purchase of the Antler Creek, Craze Creek and Roundtop Mountain Properties under the terms previously disclosed on August 23, 2011, August 24, 2011 and August 26, 2011 respectively (News Releases 11-24, 11-25 and 11-26).
J. Frank Callaghan, President and CEO states, "The Company is pleased to complete the acquisition of these three prospective gold properties. The three properties are within the Company's main claim area that encompasses seven past producing historic mines as well as Barkerville's two proposed open pit gold mines. The acquisition adds approximately 2,975 hectares to the existing property totaling 117,691 hectares running about 60 kilometers in length (SE--NW) by 30 kilometers wide (SW--NE)".
The Company's Chief Geologist Jim Yin, PhD, P.Geo reports, "The Craze Creek and Roundtop Properties are in the same mine trend of the past producing mines including Cariboo Hudson, Cariboo Gold Quartz, Island Mountain Aurum, Mosquito Creek gold mines in addition to the Hardscrabble Tungsten Mine and the proposed Bonanza Ledge, high-grade open pit mine. The dominant unit underlying the properties is the Downey Succession, characterized by olive and grey micaceous quartzite and phyllite, with siltite and minor argillite. A band of limestone, limy siltstone and volcanic rocks occurs within the Downey succession. The volcanic rocks are believed to be metamorphosed dikes and sills".
"The Antler Property is next to the historic mine trend to the east. Downey Succession underlies mainly the east side of the Antler Property. The property is underlain by argillite, phyllite, quartzite, and limestones", Jim Yin adds.
The Antler Creek Acquisition was completed pursuant to an agreement dated August 18, 2011 between the Company and two arm's length Vendors, Timothy Young and Samuel Skiber whereby the Company purchased a 100% interest in certain mineral claims comprising 1,365.5 hectares in the Cariboo District of British Columbia, namely the Antler Creek Property which lies along Antler Creek southeast of Wells, BC and along the trend of Bonanza Ledge Zone. Pursuant to the agreement the Company paid the Vendors $10,000 and issued an aggregate of 30,000 common shares of the Company at a price of $1.55 per share which shares are subject to a hold period expiring December 31, 2011. The Antler Creek Property is subject to a 1% net smelter return royalty held in favour of the Vendors.
The Craze Creek Acquisition was completed pursuant to an agreement dated August 17, 2011 between the Company and Pacific Bay Minerals Ltd., an arm's length party, whereby the Company purchased the Vendor's 40% interest in certain mineral claims comprising 640.55 hectares in the Cariboo District of British Columbia, namely the Craze Creek Property which lies 20 km southeast and along trend of the Bonanza Ledge Zone. Pursuant to the agreement, the Company issued 100,000 common shares of the Company at a price of $1.53 per share to Pacific Bay which shares are subject to a hold period expiring January 1, 2012. The Craze Creek Property is subject to an existing 2.5% net smelter return royalty for the original vendors and a 1% net smelter return royalty held in favour of Pacific Bay. Such 1% net smelter return royalty can be purchased by the Company for CAD$1,000,000.
The Roundtop Mountain Acquisition was completed pursuant to an agreement dated August 26, 2011 between the Company and Roundtop Exploration Inc., an arm's length party, whereby the Company purchased a 100% interest in certain mineral claims comprising 729.4 hectares in the Cariboo District of British Columbia, namely the Roundtop Mountain Property which lies adjacent to the historic Cariboo Hudson Mine near Wells, BC. Pursuant to the agreement, the Company paid the Vendor a total of $26,000 and issued an aggregate of 20,000 common shares of the Company at a price of $1.56 per share which shares are subject to a hold period expiring January 2, 2012. The Roundtop Mountain Property is subject to a 2% net smelter return royalty held in favour of the Vendor. Such 2% net smelter return royalty may be purchased by the Company for CAD$1,000,000.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring doré gold in September 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject to government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any of its future gold production.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors
"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
Tel: (604) 669 -- 6463
Barkerville Gold Announces Acquisition of Craze Creek Property
http://finance.yahoo.com/news/Barkerville-Gold-Announces-ccn-757413097.html?x=0&.v=1
Barkerville Gold Min (BGM)
1.5 ? -0.06 (-3.85%)
Volume: 652,890 @ 3:36:59 PM ET
Bid Ask Day's Range
1.49 1.5 1.49 - 1.62
TSX:BGM Detailed Quote
For what its worth. I have taken a rather large position here. That being said. Most of it will be treated as a long term investment. As always part of it will be traded in and out.
Best of luck to all. The old guy.
Sold all my shares today at $2.00 right at the close. Will be looking to buy back in at $1.50 or $1.60.
Barkerville Gold Min (BGM)
1.69 ? 0.11 (6.96%)
Volume: 204,410 @ 3:58:00 PM ET
Bid Ask Day's Range
1.67 1.69 1.57 - 1.69
TSX:BGM Detailed Quote
Acquisition of Myrtle-Proserpine and Promise Properties
Vancouver, BC -- Barkerville Gold Mines Ltd. (TSXV:BGM) (the “Company”) announces that it has entered into a letter agreement dated May 5, 2011 (the “Agreement”) with Huakan International Mining Inc. (formerly Merit Mining Corp.) (“Huakan”) to acquire 100% interest in certain mineral claims groups in the Cariboo District of British Columbia, namely the Myrtle- Proserpine Property and the Promise Property. Pursuant to the Agreement, the Company will pay Huakan $500,000 and will issue to Huakan 412,500 shares at a $1.60 per share. The Company and Huakan also signed a mutual release in full and final settlement of certain disputes between them relating to the Myrtle-Proserpine Property and the Promise Property. Following completion of the acquisition, the Myrtle-Proserpine Property will remain subject to a 3% net smelter return royalty held in favour of Newmont Exploration of Canada Limited.
Barkerville Gold Min (BGM)
1.48 ? 0.15 (11.28%)
Volume: 1,166,275 @ 3:59:51 PM ET
Bid Ask Day's Range
1.45 1.48 1.37 - 1.48
TSX:BGM Detailed Quote
Barkerville Provides Update on the Permitting of the Bonanza Ledge Mine
Apr. 7, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") wishes to report a corporate update on the Company's Bonanza Ledge project located near the town of Wells in central British Columbia. The Bonanza Ledge proposed open pit gold mine is a high-grade, disseminated gold deposit currently in the process of a provincial Mines Act Application to commence production. The Application is for a 70,000-tonne/year open pit operation that will augment the current gold production at the Company's QR Mill, a 900 tonne per day facility currently producing and shipping gold doré bars from its underground mining operations at the QR Mine. The Application has passed through the government's 60-day formal review period.
The following has been quoted from a status update letter sent to the Company by the Chief Inspector's office:
"The South Central Mine Development Review Committee (SCMDRC) completed their technical review of the Bonanza Ledge Mines Act permit application between November 29, 2010 and January 28, 2011, within the mandated 60 day time period pursuant to the Health Safety Reclamation Code for Mines in BC. On Feb 2, 2011 the chair of the SCMDRC made recommendations in a report to the Chief Inspector of Mines with respect to the adequacy of the application, the adequacy of BGM's public consultation program and First Nations considerations.
The chairs conclusion was the technical review to date did not identify any significant strategic issues that could not be further satisfactorily addressed either through additional information or through permit conditions in either the Mines Act permit (MNRO), Environmental Management Act Effluent Permit (MOE) or other statutory approval, permit or authorization."
The Company is continuing to work closely with the office of the Chief Inspector who issues the Mines Act permit through the final stages of the permitting process. The Company will issue a news release upon the completion of the permitting process.
Work continues on completing a 4-kilometer haul road from the proposed Bonanza Ledge pit to the provincial Highway 26. The Company received approval for the road permit and commenced building the on-site haul road in January 2011 (see news release January 12, 2011). Logging of the entire stretch of roadway is now done with approximately 1.2 km of road left to be constructed. Once complete, the haul road will then be topped with crushed rock. It is anticipated that the road will be ready by June 2011. At the same time, the Company and its engineering contractors are completing work to ready the QR Mill facility to accept Bonanza Ledge ore.
First Diamond Drilling Assay at New Discovery on Barkerville Mountain Hits 2 Intercepts Gold – Including 12.1 g/T Gold Over 14.1 Meters
March 21, 2011
Vancouver, BC -- Barkerville Gold Mines Ltd. (TSXV:BGM) (the “Company”) reports the first assay results of a 42 hole diamond drilling program being conducted on the new discovery zone on Barkerville Mountain 93 meters away from the Company’s Bonanza Ledge deposit. The new discovery area although in close proximity to the Bonanza Ledge deposit which sits in the footwall of the BC Vein, is a completely different style of gold mineralization than Bonanza Ledge. Gold mineralization was hit in two intervals with highlights as follows:
• 14.1 meters of 12.1 g/T gold between 24.3 and 38.4 meters including, - 6.3 meters of 25.4 g/T gold between 29.3 and 35.6 meters, and
• 0.91 meters of 11.5 g/T gold between 45.5 and 46.4 meters
President and CEO J. Frank Callaghan states, “The discovery of gold mineralization on the hanging wall side of the BC Vein and Bonanza Ledge, furthers the opportunity to expand the gold mineralization across several stratigraphic units and styles of mineralization within the same area. Four styles of gold mineralization have now been identified in the camp all within close proximity of each other. Three styles; Bonanza Ledge style, quartz-pyrite stockworks and BC Vein (a large gold-bearing quartz strike vein) have all been identified within the Bonanza Ledge proposed open pit area”.
The new discovery zone is located approximately 93m to the local mine grid northwest of the Bonanza Ledge gold deposit. Please see news releases dated respectively on September 20 & 29, and October 4 of 2010, and February 14 of 2011, for more detailed information on the new zone.
The new zone is stratigraphically hosted within the same rock units/sub-units as the Company’s Cariboo Gold Quartz Deposit approximately 3 km to the northwest. The host rock of the new zone includes the Rainbow 3 & 4 Sub-units, BC Argillite, and likely the Rainbow 2 & 1 Sub-units to the mine grid north, with the zone is still open to the mine grid northeast.
The major control of the new discovered zone appears to be a large fault system, which may be a secondary level or a branch of the BC Fault Zone that hosts the large, gold-bearing BC
Vein. All of the fine-grained pyrite and quartz-pyrite veins and/or stockworks are controlled by the fault system, which consists of first, secondary, third and even more levels of subsidiary faults as well as quartz-pyrite stockworks.
Drilling continues and additional assay results of the diamond drill holes conducted on the new zone will be released as they are received.
All the samples were analyzed by Eco Tech Lab. in Kamloops, BC. Assays include Au fire assay with AA finish, metallic gold assay, and 28 element ICP.
Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ-size drill core was split in two halves using a splitter at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core is put in a sample bag. After all the samples are placed in the rice bags at the mine site, they are transported by BGM's personnel to a shipping company in Quesnel for trans-shipment to Eco Tech Lab in Kamloops, B.C. Sample preparation and geochemical assaying is done at Eco Tech Lab, following their own internal standards for quality control and verification. The gold assaying method uses a standard fire assay with AA finish and/or metallic gold assay. Metallic gold assays are done to confirm the fire assay results considering existence of visible gold in the samples. ETL is certified under the Assayers Certification Program of B.C.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 1,225 square kilometers, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in February 2010 and the Company began pouring doré gold in September 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade it to a 2,000-tonne/day facility subject to government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any of its future gold production.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors,
“J. Frank Callaghan”
J. Frank Callaghan President and CEO
Barkerville Gold Min (BGM)
1.3 ? -0.1 (-7.14%)
Volume: 655,763 @ 3:59:55 PM ET
Bid Ask Day's Range
1.32 1.33 1.25 - 1.37
TSX:BGM Detailed Quote
Barkerville Extends New Discovery Zone on Barkerville Mountain to 125 Meters-Channels Hitting Up to 23.1m of 9.78 g/t Gold With Samples of Up to 268 g/t Gold
VANCOUVER, BRITISH COLUMBIA, Feb. 14, 2011 (Marketwire) --
Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") reports the remaining assay results of 2010 from 175 channel samples at the new discovery zone on Barkerville Mountain announced in September 2010 (see news release September 20, 2010). The new zone has now been mapped and extends the original discovery area to 125 meters long in trenching and up to 26 meters wide in 18 channels. A diamond drill program for the new discovery zone is slated to begin in March 2010. The Company is permitted to drill up to 900 holes for 193,500 meters on Barkerville Mountain over the next three years and is able to drill throughout the year.
New highlights are as follows:
Channel 2: 10.3 meters (33.7 feet) of 16.7 g/T (0.49 oz/t) gold including,
-- 5.5 meters (18.2 feet) of 30.6 g/T (0.89 oz/t) gold, and
-- 3.26 meters (10.7 feet) of 50.2 g/T (1.46 oz/t) gold
Channel 3: 15.8 meters (52.0 feet) of 4.61 g/T (0.13 oz/t) gold including,
-- 9.8 meters (32.1 feet) of 7.43 g/T (0.22 oz/t) gold, and
-- 1.1 meters (3.5 feet) of 40.5 g/T (1.18 oz/t) gold
Channel 4: 23.1 meters (75.8 feet) of 9.78 g/T (0.29 oz/t) gold including,
-- 10.1 meters (33.2 feet) of 22.3 g/T (0.65 oz/t) gold, and
-- 0.58 meters (1.9 feet) of 268.0 g/T (7.82 oz/t) gold
Channel 5: 16.9 meters (55.3 feet) of 1.64 g/T (0.05 oz/t) gold including,
-- 9.3 meters (30.5 feet) of 2.89 g/T (0.08 oz/t) gold
Channel 6: 17.5 meters (57.5 feet) of 4.72 g/T (0.14 oz/t) gold, including,
-- 6.6 meters (21.6 feet) of 12.4 g/T (0.36 oz/t) gold
Channel 8: 11.9 meters (39.0 feet) of 7.04 g/T (0.21 oz/t) gold, including,
-- 4.1 meters (13.5 feet) of 19.6 g/T (0.57 oz/t) gold
Barkerville Intercepts 16.7 Meters Grading 15.9 g/T Gold in Replacement Mineralization on Cow Mountain and Hits 32.6 Meters Grading 10.8 g/T Gold 190m NW of Cariboo Gold Quartz Mine
VANCOUVER, BRITISH COLUMBIA, Feb. 10, 2011 (Marketwire) --
Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (The "Company") announces the final results from its 2010 drill program at Cow Mountain and Barkerville Mountain. This last round of drilling for 2010 includes the discovery of replacement style gold mineralization on Cow Mountain and quartz-pyrite vein hosted gold mineralization approximately 190 meters mine grid NW of the Cariboo Gold Quartz proposed open pit mine. Highlights include:
-- 15.9 g/T gold over 16.7 meters (55.0 feet), including 42.0 g/T gold 3.0
meters (10.0 feet) and 27.3 g/T over 5 meters (16.4 feet) - (DDH CM10-
13, semi massive to massive pyrite replacement mineralization in light
grey/grey calcareous phyllite with lesser quartzite)
-- 10.8 g/T gold over 32.6 meters (107.0 feet), including 30.6 g/T gold
over 10.7 meters (35.1 feet) - (DDH CM10-18, quartz-pyrite veins and
pyrite blebs within argillite with lesser/minor quartzite, located
approximately 190 meters mine grid NW of the proposed pit)
The Company also announces the start of the 2011 drill campaign on Cow Mountain. This year's drill program is intended to extend the proposed pit an additional 300 feet below the current resource level in an effort to double the tonnage of the current NI 43-101 resource. At the same time, drilling to twin some older, non-43-101 compliant drill holes is underway in an effort to return the resource to historic levels. Additional drill plans for this year to expand on the two new developments announced today will be forthcoming and the Company is already permitted to drill another 178 drill holes on top of the current 122 drill hole program underway on Cow Mountain.
J. Frank Callaghan states, "These are exciting developments around the proposed Cariboo Gold Quartz mine. The current NI 43-101 resource and our past drilling here have been based on gold hosted in a quartz stockworks. Finding gold in replacement mineralization similar to the style found at Bonanza Ledge and the neighboring historic Island Mountain Mine brings a new dimension to Cow Mountain. Additionally encountering a higher grading gold in quartz-pyrite veins 190 meters outside of the Cariboo Gold Quartz proposed open pit area really brings up the potential to extend the mineralized area."
Additional drilling on Cow Mountain was done in 2010 to test the footprint bounds of the Cariboo Gold Quartz proposed pit right to the historic tailings lake at the foot of the mountain.
The Company drilled an additional 10 holes (included in the final 2010 drill results) on Barkerville Mountain that were designed to provide a better understanding of the BC Quartz Vein and any possible extension of fine-grained pyrite replacement mineralization around the Bonanza Ledge gold deposit.
Full assay tables of the 2010 drill program are available on our website. To view, please visit the following link: http://www.barkervillegold.com/s/DrillResults.asp.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 1,225 square kilometers, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in February 2010 and the Company began pouring dore gold in September 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade it to a 2,000-tonne/day facility subject to government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any of its future gold production.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors,
J. Frank Callaghan, President and CEO
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Barkerville Gold Mines Ltd.
President and CEO
604 669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
www.barkervillegold.com
Barkerville Releases Q3 Financials
VANCOUVER, BRITISH COLUMBIA, Feb. 1, 2011 (Marketwire) --
Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") has released its third quarter 2010 financial statements and related management discussion and analysis. The Company recognized $1,740,141 in revenue from sales of 1,223 ozs of gold at $1,422.847/oz. The Company reports a net loss of $21,657,285 for the period ended November 30, 2010 or $0.34 per share as compared to a net loss of $5,218,497 or $0.12 per share for the period ended November 30, 2009.
J. Frank Callaghan says, "Reporting our first quarter of revenue from gold production is an important milestone for the Company. We look forward to continuing production ramp up and an aggressive exploration and drilling program to expand current gold resources."
The first gold dore bar from the QR Mine and Mill was poured on September 8th weighing 314.1 troy ounces (9.77 kg). Production ramp-up and mill optimization continued successfully through the quarter with continuous gold dore production through the facility's CIP and gravity circuits. For the quarter, the Company shipped a total of 10 gold dore bars totaling 98.904 kg to Johnson Matthey, a gold refiner located in Brampton, Ontario. The sale of the first 6 bars was settled during the quarter with the sale of bars 7 through 10 settling the following month in the subsequent quarter.
Interim financial statements, MD&A and related documents have been filed and can be viewed on SEDAR at www.sedar.com.
About Barkerville Gold Mines Ltd.
The Company has been focused on exploration and development of gold projects in the Cariboo Mining District in central British Columbia since 1994. The Company's mineral tenures now cover over 1,225 square kilometers of mineral tenures encompassing 7 past producing hard rock mines and three NI43-101 gold deposits, including the QR Mine & Mill. The QR Mine & Mill was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in February and the Company began pouring dore gold in September of this year. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. and plans to relocate it to the gold deposits in the Barkerville Gold Camp near Wells, B.C. and upgrade it to a 2,000-tonne/day facility subject to all approvals. The Company has not hedged any of its future gold production.
On behalf of the Board of Directors
J. Frank Callaghan, President and CEO
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Barkerville Gold Mines Ltd.
President and CEO
(604) 669-6463 or Toll Free: 1-800 663-9688
(604) 669-3041 (FAX)
www.barkervillegold.com
Barkerville Gold Min (BGM)
1.35 ? 0.01 (0.75%)
Volume: 220,675 @ 3:40:04 PM ET
Bid Ask Day's Range
1.35 1.36 1.34 - 1.36
Barkerville Completes Acquisition of Royalty Interests
January 20, 2011
Vancouver, BC -- Barkerville Gold Mines Ltd. (TSXV:BGM) (the “Company”) reports, further to its news release dated January 10, 2011, that the Company has completed the acquisition (the “Acquisition”) of a collective 10% net profit royalty interest (the “Royalty”) from Winta Resources Ltd., Bumper Development Corporation Ltd. and Kristen Snethun (collectively the “Royalty Holders”).
The Acquisition was completed pursuant to the letter agreements dated December 7, 2010 (the “Agreements”) between the Company and the Royalty Holders which have been accepted for filing by the TSX Venture Exchange. The Royalty interest is in the Cariboo Gold Quartz, Island Mountain and Mosquito Creek properties of the Company which are located in the Cariboo Mining Division of British Columbia. The purchase price for the acquisition was an aggregate of 250,000 shares which were issued the Royalty Holders on January 20, 2011, the Closing Date, at an issue price of $1.34 per share and are subject to a hold period expiring May 21, 2011.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company’s mineral tenures now cover over 1,225 square kilometers, encompassing seven past producing hard rock mines and three NI 43- 101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in February 2010 and the Company began pouring doré gold in September 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade it to a 2,000-tonne/day facility subject to government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any of its future gold production.
On behalf of the Board of Directors
Barkerville Gold Min (BGM)
1.39 ? 0.03 (2.21%)
Volume: 194,191 @ 3:59:27 PM ET
Bid Ask Day's Range
1.38 1.39 1.32 - 1.39
TSX:BGM Detailed Quote
Barkerville Receives Government Approval to Construct Haul Road For Bonanza Ledge
VANCOUVER, BRITISH COLUMBIA, Jan. 12, 2011 (Marketwire) --
Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") reports it has received British Columbia Provincial Government approval to develop a new haul route on its Bonanza Ledge property and access to Highway 26 near Wells, B.C.
The new property access is designed to avoid impacts to local roads and residents by bypassing the community of Wells and Barkerville Historic Town. As added benefit, part of the road clearing will take place on crown grants with surface rights owned by Barkerville Historic Town, and the logs are destined for a new demonstration sawmill project at the national historic site.
Company President and CEO, J. Frank Callaghan states, "We are all very pleased with how this has worked out. This is a win/win situation for industry, tourism and the local communities".
A Mines Act Application to commence production from the Bonanza Ledge Property, near Wells, B.C., was accepted for review in November 2010. The Application is for a 70,000-tonne/year open pit operation that will augment the current gold production at the Company's QR Mine & Mill, a 900 tonne per day facility producing and shipping gold dore bars. The 60-day formal review period ends January 29, 2011.
Equipment is on site and road clearing will begin immediately. Following approval, the Company will commence development and gold production from the Bonanza Ledge property.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District of central B.C. The Company's mineral tenures now cover over 1,225 square kilometers, encompassing seven past producing hard rock mines and three NI43-101 gold deposits, including the QR Mine & Mill. The QR property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in February 2010 and the Company began pouring dore gold in September of 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrading to a 2,000-tonne/day facility subject to government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any of its future gold production.
On behalf of the Board of Directors
J. Frank Callaghan, President and CEO
Barkerville Gold Min (BGM)
1.35 ? -0.01 (-0.74%)
Volume: 61,163 @ 11:27:53 AM ET
Bid Ask Day's Range
1.34 1.35 1.32 - 1.38
TSX:BGM Detailed Quote
Barkerville To Purchase Royalty Interests
VANCOUVER, BRITISH COLUMBIA, Jan. 11, 2011 (Marketwire) --
Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") announces that it has entered into letter agreements dated December 7, 2010 (the "Agreements") with Winta Resources Ltd., Bumper Development Corporation Ltd. and Kristen Snethun (collectively the "Royalty Holders") to purchase a collective 10% net profit interest royalty (the "Royalty") that is held by the Royalty Holders in the Cariboo Gold Quartz, Island Mountain and Mosquito Creek properties of the Company which are located in the Cariboo Mining Division of British Columbia (the "Acquisition"). Pursuant to the Agreements, the Company will issue an aggregate of 250,000 shares to the Royalty Holders for the purchase of the Royalty.
The Acquisition will be subject to certain conditions including TSX Venture Exchange approval.
About Barkerville Gold Mines Ltd.
The Company has been focused on exploration and development of gold projects in the Cariboo Mining District in central British Columbia since 1994. The Company's mineral tenures now cover over 1,225 square kilometers of mineral tenures encompassing 7 past producing hard rock mines and three NI43-101 gold deposits, including the QR Mine & Mill. The QR Mine & Mill was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in February and the Company began pouring dore gold in September of 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. and plans to relocate it to the gold deposits in the Barkerville Gold Camp near Wells, B.C. and upgrade it to a 2,000-tonne/day facility subject to all approvals. The Company has not hedged any of its future gold production.
On behalf of the Board of Directors
J. Frank Callaghan, President and CEO
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Barkerville Gold Mines Ltd.
President and CEO
(604) 669-6463 or Toll Free: 1-800 663-9688
(604) 669-3041 (FAX)
www.barkervillegold.com
Bought my position today. Here's to a great future.
BGM: Location, Resources and Management
The Gold Report Interview with Ian Gordon (01/03/2011)
IG: I really like Barkerville Gold Mines Ltd. in central BC. It's got an NI 43-101 gold resource of about 800 Koz. But, I think we are going to see that resource grow considerably when the company announces a new 43-101. It's in production right now, en route to producing 50 Koz. gold a year. It's putting in another mill, too, so it will be able to ramp-up production to 100 Koz. I like it because the management has been able to put together a very significant land position in the Barkerville camp, which was an old mining area in about 1860 and again in the 1930s, which, of course, is the time of the previous Kondratieff Winter. I think there were three mines discovered on the properties and put into production. I like the location very much; I like the idea that it's around where old mines were in production and so on. I really believe there is a potential to add significant gold ounces on the property and cash flow is pretty good, too.
TGR: When will the new mill come on?
IG: The company's just getting permitting from the BC government, so I think it will be onstream within six to eight months. Already 50 Koz. is very profitable. Because a lot of the ore has to be trucked to the mill right now, the cost of production is probably about $600/oz.; but with gold at $1,400, that's still very nice money.
Barkerville Gold Min (BGM)
1.39 ? 0.01 (0.72%)
Volume: 315,400 @ 3:43:43 PM ET
Bid Ask Day's Range
1.38 1.39 1.36 - 1.4
Full TSX:BGM Quote
Barkerville Begins 20,000 Meter, 122 Hole Drill Program at the Gold Quartz Mine
Wed Oct 6, 7:00 AM
http://ca.news.finance.yahoo.com/s/06102010/28/link-f-ccnmatthews-barkerville-begins-20-000-meter-122-hole-drill.html
Barkerville to Purchase Additional Gold Mill Facility in Central British Columbia
Thu Sep 23, 7:29 AM
http://ca.news.finance.yahoo.com/s/23092010/28/link-f-ccnmatthews-barkerville-purchase-additional-gold-mill-facility-central-british.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2010) - Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") (TSX VENTURE: BGM.V)(FRANKFURT: IWUB.F) announces that it has entered into a Letter of Intent effective September 2, 2010 (the "LOI") with International Bethlehem Mining Corporation (TSX VENTURE: IBC.V) ("IBC") to purchase Bethlehem Resources (1996) Corporation ("BRC"), a wholly-owned subsidiary of IBC, and its Goldstream Mill facility, tailings pond and related mineral leases and claims (the "Acquisition").
It is the Company's intention, subject to approvals, to relocate, refurbish and upgrade the Goldstream mill facility to the base of Cow Mountain, near Wells, BC, where two of Barkerville's NI43-101 gold resources and proposed open-pit deposits are located in Central British Columbia. Upon relocation, the Company plans to upgrade the mill with an additional ball mill and a carbon-in-pulp circuit, to an increased capacity of 2,000 tonnes per day. The Company's Bonanza Ledge proposed open-pit mine on the adjacent Barkerville Mountain is currently in the BC Mines Act approval process. The Cariboo Gold Project, encompassing Cow Mountain, is anticipated to re-enter the BC Environmental Assessment Process in the 4th Quarter of 2011.
J. Frank Callaghan, President and CEO of the Company commented "Having just achieved commercial gold production at the Company's QR Gold Mine & Mill, we are pleased to have the opportunity to potentially increase the Company's gold production profile with the addition of a second milling facility in close proximity to our other two deposits".
The Goldstream Mill is a custom mineral processing plant and is located in the Revelstoke Mining Division, approximately 90 km north of Revelstoke, BC (via Hwy 23). The Goldstream Mill is currently on care and maintenance, however, has a nameplated milling capacity of 1,360 tonnes per day and residue from such operations can be accommodated in the adjacent tailings pond and surrounding properties.
Pursuant to the LOI, the Company will pay IBC an aggregate purchase price of $3,300,000 for BRC and the Goldstream Mill facility and related assets and properties. The Company will satisfy the purchase price by paying IBC a $50,000 deposit, a $200,000 due diligence fee, $250,000 on each of the 6 month and 12 month anniversaries of the Closing Date and $550,000 on the 18 month anniversary of the Closing Date. The Company will also issue $2,000,000 worth of shares of the Company to IBC by issuing $500,000 worth of shares on each of the Closing Date, the 6 month anniversary, 12 month anniversary and 18 month anniversary of the Closing Date. The number of shares to be issued to IBC will be calculated based on the volume weighted-average price of the Company's shares for the 10 trading days ending on the day prior to the Closing Date, 6 month anniversary, 12 month anniversary and 18 month anniversary of the Closing Date, as applicable.
The Acquisition will be subject to certain conditions including the execution of the Definitive Agreement and TSX Venture Exchange approval.
About Barkerville Gold Mines Ltd.
The Company has been developing its Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to southeast) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine. The Company commenced operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 111,000 hectares (275,000 acres) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining. The Company began gold dore production in September of 2010 and does not have any of its future gold production hedged.
On Behalf of the Board of Directors,
J. Frank Callaghan, President and CEO
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
J. Frank Callaghan
Barkerville Gold Mines Ltd.
President and CEO
604-669-6463 begin_of_the_skype_highlighting 604-669-6463 end_of_the_skype_highlighting or Toll Free: 1-800-663-9688 begin_of_the_skype_highlighting 1-800-663-9688 end_of_the_skype_highlighting
604-669-3041 begin_of_the_skype_highlighting 604-669-3041 end_of_the_skype_highlighting (FAX)
www.barkervillegold.com
Barkerville Gold Min (TSX:BGM)
Last Price (USD) $0.9
Change ? 0.03 (3.45%)
Bid 0.89
Ask 0.92
Volume 321,105
Days Range 0.9 - 0.92
Last Trade 9/14/2010 3:57:58 PM
Click for detailed quote page
Barkerville Gold Min (TSX:BGM)
Last Price (USD) $0.82
Change ? 0.01 (1.23%)
Bid 0.81
Ask 0.82
Volume 28,834
Days Range 0.82 - 0.83
Last Trade 7/23/2010 1:14:25 PM
Barkerville Gold Min (TSX:BGM)
Last Price (USD) $0.76
Change ? 0.01 (1.33%)
Bid 0.75
Ask 0.76
Volume 219,420
Days Range 0.75 - 0.78
Last Trade 6/9/2010 3:58:17 PM
Click for detailed quote page
Barkerville Gold Min (TSX:BGM)
Last Price (USD) $1.0
Change ? -0.06 (-5.66%)
Bid 0.98
Ask 1.01
Volume 285,358
Days Range 0.96 - 1.07
Last Trade 5/4/2010 1:36:15 PM
Click for detailed quote page
Wayside Discovers New Zone NW of the Proposed Cariboo Gold Quartz Open Pit With Drill Intercept of 13.5m of 5.06 g/T Gold
Mon Jan 18, 9:01 AM
http://ca.news.finance.yahoo.com/s/18012010/28/link-f-ccnmatthews-wayside-discovers-new-zone-nw-proposed-cariboo-gold.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 18, 2010) - International Wayside Gold Mines Ltd. ("Wayside", the "Company")(TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F) wishes to announce that it has discovered a new zone, outside and north west of the proposed Cariboo Gold Quartz open pit mine on Cow Mountain, of replacement-like gold mineralization in a rock type not known before to carry gold within this camp. The assay results from the Company's 2009 drill campaign follow below. Highlights of these assays include:
-- Drill hole CM09-07 intercepted replacement-like gold mineralization:
-- 13.5 meters (44.2 feet) of 5.06 g/T (0.148 oz/t) gold
-- Drill hole CM09-08 intercepted both replacement and quartz vein style
gold mineralization:
-- 10.1 meters (33.3 feet) of 1.51 g/T (0.044 oz/t) gold
The new replacement-like mineralization found in holes CM 09-06, 07, 08 and 11 is distinctly different than that found in the NI 43-101 resource at the proposed open pit at Cow Mountain and bears similarities to, yet different from, the higher-grade replacement ore found on the adjacent Island Mountain and Barkerville Mountain (the proposed Bonanza Ledge mine). While quartzite carrying lower-grade pyrite (with less gold associated with it) is common in the camp, drill hole CM09-07 carrying only 1-3% disseminated pyrite and/or blebs, for the first time returned as high 49.5 g/T gold in the pure grey blocky quartzite of Rainbow 1 Sub-unit at the Baker-Rainbow contact - indicating the potential discovery of a fourth style of gold mineralization on the Company's project.
Further drilling will be conducted in 2010 to gain a better control and understanding of the continuity of both the replacement/replacement-like and the quartz vein types of mineralized body intercepted by drill hole CM09-07, CM09-08 and other related drill holes mentioned above in the northwest Cow Mountain area.
The 2009 drill program on Cow and Barkerville Mountains targeted both the replacement and quartz vein types of gold mineralization. In total, 13 diamond drill holes (of which, 11 are on Cow Mountain and 2 on Barkerville Mountain) have been completed in the 2009 calendar year. Drill holes CM09-04 through CM09-11 are the first drill holes that the Company has done in the northwest Cow Mountain area, outside of the proposed pit.
About International Wayside Gold Mines
The Company has been developing its Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to south east) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine. The Company commenced operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. The Company's mineral tenures in the Historic Barkerville Gold Camp encompass approximately 1,065 square km (106,484 hectares) over a 60km by 20km wide belt. In the Historic Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining. On December 16, 2009, the Company entered into an agreement by which it will acquire the QR Mine and Mill, 110km by road from its Bonanza Ledge proposed open pit gold deposit.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
Table 1. SUMMARY OF ASSAYS OF 2009 DRILL HOLES
----------------------------------------------------------------------------
Drill Pad # Drill Hole From To Width Gold
-----------------------------------------------
Feet Feet g/T oz/t
----------------------------------------------------------------------------
----------------------------------------------------------------------------
A 1 CM09-04 269.6 276.0 6.4 0.16 0.005
-----------------------------------------------
301.0 306.0 5.0 0.10 0.003
----------------------------------------------------------------------------
B 2 CM09-05 42.5 48.4 5.9 0.40 0.012
-----------------------------------------------
90.9 103.7 12.8 0.39 0.011
-----------------------------------------------
149.6 176.0 26.4 0.19 0.006
-----------------------------------------------
286.0 305.3 19.3 0.43 0.013
-----------------------------------------------
including
-----------------------------------------------
295.5 298.9 3.4 1.13 0.033
-----------------------------------------------
312.3 316.0 3.7 0.14 0.004
-----------------------------------------------
325.5 333.0 7.5 0.24 0.007
----------------------------------------------------------------
3 CM09-06 36.0 66.0 30.0 0.85 0.025
-----------------------------------------------
including
-----------------------------------------------
46.8 47.4 0.6 25.3 0.738
-----------------------------------------------
110.0 120.7 10.7 1.07 0.031
-----------------------------------------------
including
-----------------------------------------------
114.7 116.3 1.6 6.73 0.196
-----------------------------------------------
170.6 201.0 30.4 0.97 0.028
-----------------------------------------------
including
-----------------------------------------------
185.8 188.8 3.0 8.45 0.246
----------------------------------------------------------------------------
C 4 CM09-07 97.5 106.2 8.7 1.18 0.034
-----------------------------------------------
including
-----------------------------------------------
98.3 98.9 0.6 16.2 0.472
-----------------------------------------------
236.0 248.4 12.4 0.33 0.010
-----------------------------------------------
346.0 356.0 10.0 0.56 0.016
-----------------------------------------------
361.8 406.0 44.2 5.06 0.148
-----------------------------------------------
including
-----------------------------------------------
361.8 367.4 5.6 1.70 0.050
-----------------------------------------------
378.2 379.7 1.5 21.1 0.615
-----------------------------------------------
382.5 385.5 3.0 49.5 1.444
-----------------------------------------------
390.1 393.9 3.8 4.16 0.121
-----------------------------------------------
400.3 406.0 5.7 2.40 0.070
----------------------------------------------------------------
5 CM09-08 194.0 196.8 2.8 18.5 0.540
-----------------------------------------------
210.4 219.4 9.0 0.48 0.014
-----------------------------------------------
224.5 246.0 21.5 0.11 0.003
-----------------------------------------------
316.0 318.1 2.1 0.41 0.012
-----------------------------------------------
384.5 417.8 33.3 1.51 0.044
-----------------------------------------------
including
-----------------------------------------------
384.5 392.7 8.2 4.21 0.123
-----------------------------------------------
412.0 417.8 5.8 2.40 0.070
----------------------------------------------------------------
6 CM09-09 96.0 112.9 16.9 0.18 0.005
-----------------------------------------------
190.6 223.4 32.8 0.99 0.029
-----------------------------------------------
including
-----------------------------------------------
198.7 206.0 7.3 3.16 0.092
-----------------------------------------------
516.0 536.0 20.0 0.50 0.014
-----------------------------------------------
including
-----------------------------------------------
520.7 526.0 5.3 1.68 0.049
-----------------------------------------------
546.0 556.0 10.0 0.91 0.027
-----------------------------------------------
including
-----------------------------------------------
553.0 556.0 3.0 2.25 0.066
-----------------------------------------------
646.0 686.0 40.0 0.42 0.012
----------------------------------------------------------------------------
D 7 CM09-10 183.9 186.0 2.1 1.12 0.033
----------------------------------------------------------------
8 CM09-11 156.0 177.8 21.8 0.39 0.011
-----------------------------------------------
including
-----------------------------------------------
166.0 166.6 0.6 8.32 0.243
-----------------------------------------------
181.1 224.4 43.3 0.25 0.007
-----------------------------------------------
234.5 246.0 11.5 1.82 0.053
-----------------------------------------------
including
-----------------------------------------------
234.5 239.6 5.1 3.50 0.102
-----------------------------------------------
306.0 316.0 10.0 0.11 0.003
-----------------------------------------------
356.0 381.0 25.0 0.56 0.016
----------------------------------------------------------------------------
E 9 LH09-01 282.0 298.3 16.3 0.20 0.006
-----------------------------------------------
439.4 466.0 26.6 0.30 0.009
-----------------------------------------------
including
-----------------------------------------------
454.5 456.0 1.5 1.43 0.042
-----------------------------------------------
468.0 506.0 38.0 0.53 0.015
-----------------------------------------------
including
-----------------------------------------------
476.4 480.4 4.0 2.60 0.076
----------------------------------------------------------------------------
F 10 LH09-02 12.0 26.0 14.0 0.19 0.006
-----------------------------------------------
81.6 96.7 15.1 0.44 0.013
-----------------------------------------------
212.4 231.0 18.6 0.14 0.004
-----------------------------------------------
287.9 294.7 6.8 0.54 0.016
-----------------------------------------------
441.2 453.0 11.8 1.13 0.033
-----------------------------------------------
including
-----------------------------------------------
441.2 446.0 4.8 2.45 0.071
-----------------------------------------------
457.0 479.2 22.2 0.16 0.005
----------------------------------------------------------------------------
On Behalf of the Board of Directors
J. Frank Callaghan, President
This news release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contacts
Andrew H. Rees
International Wayside Gold Mines Ltd.
Director
604 669-6463 or 1-800-663-9688
www.wayside-gold.com
International Wayside Gold Mines to Purchase QR Mine and Mill
Thu Dec 17, 12:10 PM
http://ca.news.finance.yahoo.com/s/17122009/28/link-f-ccnmatthews-international-wayside-gold-mines-purchase-qr-mill.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2009) - International Wayside Gold Mines Ltd. ("Wayside", the "Company") (TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F) announces that further to the news release of February 4, 2009, whereby the Company would acquire the QR Mine and Mill from Cross Lake Minerals Ltd. (now 0373849 BC Ltd.) ("Cross Lake") in exchange for Wayside's tax loss pool in a Court Ordered Plan of Arrangement, the Company has now entered into a revised term sheet in order to retain the tax losses for Wayside. The Company will also enter into a definitive Acquisition Agreement, Mining Contract and Environmental Indemnity Agreement.
J. Frank Callaghan, President and CEO of Wayside, stated, "We are very pleased to have revised the terms of the acquisition of the QR Mine and Mill in order to retain our tax losses. Under these revised terms and upon the commencement of mining operations, the Company will have the ability to utilize the accumulated tax loss pools of approximately $25 million for the financial benefit of the Company and its shareholders. In addition, the Board of Directors is pleased to have Cross Lake's equity participation in the Company and Procon Mining and Tunnelling Ltd. ("Procon")'s expertise in the operation of our mines."
The Company renegotiated its transaction with Cross Lake whereby the Company will purchase the subsidiary company of Cross Lake holding the QR Mine and Mill to acquire all of the QR assets by issuing Company stock. The Company will now purchase the "QR Mine and Mill" for the issuance of 2,000,000 shares and 500,000 share purchase warrants. Each warrant will be exercisable into one additional common share at a price of $1.00 per common share for a period of two years.
The Mining Contract will provide that Procon or its nominee will be responsible for and will undertake the mining activities in respect to the QR Mine and Mill and Wayside's other properties including the Cariboo Gold Project. This Contract provides that Procon shall be the Contractor of the QR Mine and Mill and any other mining project developed by Wayside.
In consideration of the services to be provided by Procon under the Mining Contract, Wayside shall pay to Procon an amount equal to all costs incurred by Procon, plus a mark up of 15% (the "Margin"). The Mining Contract will continue in effect for an initial term ending upon completion of $37,500,000 in earned margin after the date of Closing and is subject to earlier termination for a fee or extension upon agreement by both Wayside and Procon.
The Acquisition is scheduled to close on February 1, 2010 and is subject to entering into definitive agreements including the Acquisition Agreement, Mining Contract and Environmental Indemnity Agreement and is subject to the approval of the TSX Venture Exchange.
The Company will continue with the previously announced private placement of units and subscription receipts as proceeds of the subscription receipts will be held in trust pending the completion of the Acquisition.
About International Wayside Gold Mines
The Company has been developing its Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to south east) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine. The Company commenced operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.
On Behalf of the Board of Directors
J. Frank Callaghan, President
This news release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
J. Frank Callaghan
International Wayside Gold Mines Ltd.
President
604 669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
www.wayside-gold.com
Wayside Completes 17 Hole Diamond Drill Program, Additional Hole in Progress
Wed Oct 14, 8:01 AM
http://ca.news.finance.yahoo.com/s/14102009/28/link-f-ccnmatthews-wayside-completes-17-hole-diamond-drill-program-additional.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2009) - International Wayside Gold Mines Ltd. (TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F) ("Wayside", the "Company") announced today that the Company's 17 hole infill diamond drill program at the Bonanza Ledge Zone is complete. An additional hole, "14-b" is in progress. Examination of the results received from holes drilled to date (e.g. BC09-12, 84.4m (277.0 feet) of 16.5 g/T (0.481 oz/t) Au Including 37.5m (123.1 feet) of 36.1 g/T (1.052 oz/t) Au, see News Release October 7, 2009), identify that deeper diamond drilling at the Bonanza Ledge Zone is necessary in order to have a better understanding of the resource at depth.
President and CEO J. Frank Callaghan stated, "Management is very pleased with the results received thus far from the first phase of drilling at the Bonanza Ledge Zone. Company consultants Mintec Inc. along with Company geologists will interpret phase one data and plan a phase two Bonanza Ledge drill program designed to expand the resource beneath the known mineralization as it is currently defined."
The infill diamond drill program in the Bonanza Ledge Zone is expected to upgrade its existing NI 43-101 resources from inferred to indicated and measured categories. The drill program (including drill hole locations) was designed by Mintec Inc. ("Mintec"), which produced the Company's initial resources and reserve estimates as reported in the Company's positive Pre-Feasibility Study at the Bonanza Ledge Gold Project (see News Release September 10, 2009). Mintec will use this new data gathered in this drill program together with pervious drilling, for geologic modeling, exploration, mine planning and ultimately mine development.
To date, 17drill holes have been completed with BC09-01 to BC09-05, BC09-07 to BC09-09, BC09-11 and BC09-12 returning promising intercepts containing gold mineralization (see News Releases September 17, October 5 and October 7, 2009). Results from the remaining drill holes in the infill program are forthcoming. The program as last reported (see News Release October 07, 2009) was scheduled for 17 holes and has increased by one hole due to the loss of hole 14 in a fault zone. The 18th hole in the program is identified as "14-b".
Additionally, the Company has completed diamond drilling an 8 hole, underground water monitoring well program for the proposed Bonanza Ledge open pit gold mine. Two of the water well holes unexpectedly cut into both quartz vein and weak pyrite replacement mineralization zones. Core samples have been sent to Eco Tech Laboratory Ltd. in Kamloops, B.C., for analysis.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
The Cariboo Gold Camp now encompasses (from northwest to south east), the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine.
The Company commenced operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.
On Behalf of the Board of Directors
J. Frank Callaghan, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Andrew H. Rees
International Wayside Gold Mines Ltd.
Director
604 669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
Website: www.wayside-gold.com
Wayside Drills 51.5m (170 Feet) of 7.17 g/t Gold Including 20.2m (66.4 Feet) of 14.6 g/t Gold
Mon Oct 5, 2:42 AM
http://ca.news.finance.yahoo.com/s/05102009/28/link-f-ccnmatthews-wayside-drills-51-5m-170-feet-7-17.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2009) - International Wayside Gold Mines Ltd. ("Wayside", the "Company") (TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F) reports today that it has received more results from its infill diamond drill program in the Bonanza Ledge Zone on Barkerville Mountain and from one of the three diamond drill holes testing the mine grid west extension of the BC Vein on Cow Mountain (Table 1).
The proposed 17 infill diamond drill program in the Bonanza Ledge Zone will upgrade its existing NI 43-101 resource from an inferred to indicated category. To date, 16 of 17 drill holes have been completed with BC09-01 through BC09-05, BC09-07 (please see September 17, 2009 News Release) through BC09-09, and BC09-11 returning promising intercepts containing gold mineralization.
- Drill hole BC09-08 intercepted:
- 18.3 meters (60.0 feet) of 1.15 g/T gold,
- including 0.43m (1.4 feet) of 21.8 g/T gold
- 24.4 meters (80.0 feet) of 1.14 g/T gold
- Drill hole BC09-09 intercepted:
- 24.4 meters (80.0 feet) of 5.39 g/T gold,
- including 0.85 meters (2.8 feet) of 102 g/T gold
- Drill hole BC09-11 intercepted:
- 51.5 meters (170.0 feet) of 7.17 g/T gold,
- including 20.2 meters (66.4 feet) of 14.6 g/T gold
Results from the remaining holes in the infill program are forthcoming.
Drill holes CM09-01 through CM09-03 were completed beside the Lowhee Creek on Cow Mountain and confirm the mine grid west extension of the BC Vein. The results verify that strike quartz veins including BC Vein exist on Cow Mountain, though more drilling needs to be conducted to confirm the total length and depth along strike. Gold values returned from the strike vein are up to 22.7 g/T (see September 17, 2009 News Release).
Drill hole CM09-03 intercepted a fine-grained pyrite replacement body in a fault zone, which contains up to 60% fine-grained pyrite and returns up to 22.7 g/T gold (Table 1).
About International Wayside Gold Mines
International Wayside Gold Mines has been developing its 106,484 hectare Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to south east) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (now on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine.
The Company has also entered into a letter of intent with 0373849 B.C. Ltd. (formerly Cross Lake Minerals Ltd.) ("Cross Lake") pursuant to which Wayside will purchase a subsidiary of Cross Lake holding all of Cross Lake's interest in the QR Mine and Mill (the "Sale Transaction"). Concurrently with the completion of the Sale Transaction, Wayside will enter into a Spin-off Transaction to transfer all of its properties, including the QR Mine and Mill, Cariboo Gold Project, and its assets, liabilities and obligations, to Barkerville Gold Mines Ltd. ("Barkerville"), a wholly-owned subsidiary of Wayside, in exchange for shares of Barkerville (the "Barkerville Shares") and will then distribute the Barkerville Shares to the shareholders of Wayside on the basis of one Barkerville Share for each share of Wayside. The Sale Transaction and Spin-Off Transaction (together, the "Transactions") will be structured as a Plan of Arrangement involving Wayside, its security holders, Cross Lake and Barkerville pursuant to the provisions of the B.C. Business Corporations Act. The final terms of the Transactions will be modified to the extent necessary to give effect to tax and legal advice to be sought by the parties.
Barkerville will make an application to list its shares on the TSX Venture Exchange (the "TSX.V"). This transaction is subject to meeting the usual listing requirements of the TSX.V, which will include having the necessary funds to meet the obligations of operating the QR Mine and Mill, conduct recommended work programs on its Cariboo Gold exploration projects, satisfy the necessary general and administrative expenses and having unallocated working capital.
Completion under the Plan of Arrangement will also be subject to obtaining the necessary shareholder, regulatory and court approvals.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
Table 1. SIGNIFICANT ASSAYS
--------------------------------------------------------
From To Width Gold
------------------------------------------
# Drill Hole Feet Feet g/t oz/t
--------------------------------------------------------
--------------------------------------------------------
1 BC09-08 37.0 97.0 60.0 1.15 0.033
------------------------------------------
including
------------------------------------------
47.0 57.0 10.0 1.92 0.056
------------------------------------------
61.4 62.8 1.4 21.8 0.636
------------------------------------------
147.0 227.0 80.0 1.14 0.033
------------------------------------------
including
------------------------------------------
170.3 176.0 5.7 1.27 0.037
------------------------------------------
185.1 187.0 1.9 4.15 0.121
------------------------------------------
187.0 189.8 2.8 1.72 0.050
------------------------------------------
189.8 195.3 5.5 7.35 0.214
------------------------------------------
207.0 210.1 3.1 1.32 0.038
------------------------------------------
210.1 217.0 6.9 1.13 0.033
--------------------------------------------------------
147.0 227.0 80.0 5.39 0.157
------------------------------------------
including
------------------------------------------
157.0 160.7 3.7 7.85 0.229
------------------------------------------
160.7 163.5 2.8 102 2.975
------------------------------------------
2 BC09-09 163.5 167.0 3.5 1.17 0.034
------------------------------------------
179.9 187.0 7.1 5.78 0.169
------------------------------------------
187.0 197.0 10.0 2.13 0.062
------------------------------------------
197.0 201.9 4.9 6.95 0.203
------------------------------------------
201.9 207.0 5.1 2.17 0.063
--------------------------------------------------------
3 BC09-10 Pending
--------------------------------------------------------
87.0 257.0 170.0 7.17 0.209
------------------------------------------
including
------------------------------------------
107.0 117.0 10.0 7.55 0.220
------------------------------------------
117.0 119.7 2.7 4.25 0.124
------------------------------------------
134.6 137.0 2.4 6.95 0.203
------------------------------------------
137.0 142.4 5.4 6.00 0.175
------------------------------------------
142.4 147.0 4.6 14.9 0.433
------------------------------------------
147.0 153.5 6.5 6.65 0.194
------------------------------------------
153.5 157.0 3.5 6.25 0.182
------------------------------------------
157.0 159.5 2.5 4.40 0.128
------------------------------------------
159.5 167.0 7.5 11.0 0.321
------------------------------------------
167.0 172.1 5.1 18.1 0.528
------------------------------------------
172.1 177.0 4.9 11.2 0.327
------------------------------------------
177.0 181.9 4.9 23.4 0.682
------------------------------------------
4 BC09-11 181.9 187.0 5.1 26.9 0.783
------------------------------------------
187.0 189.2 2.2 16.9 0.493
------------------------------------------
189.2 193.5 4.3 29.6 0.863
------------------------------------------
193.5 197.0 3.5 22.4 0.652
------------------------------------------
197.0 199.7 2.7 11.9 0.347
------------------------------------------
199.7 201.0 1.3 12.6 0.367
------------------------------------------
201.0 207.0 6.0 1.11 0.032
------------------------------------------
207.0 211.8 4.8 1.09 0.032
------------------------------------------
211.8 217.0 5.2 1.05 0.031
------------------------------------------
225.0 230.7 5.7 2.25 0.066
------------------------------------------
230.7 237.0 6.3 6.65 0.194
------------------------------------------
237.0 241.2 4.2 1.71 0.050
------------------------------------------
241.2 243.8 2.6 4.25 0.124
------------------------------------------
243.8 246.6 2.8 2.23 2.230
------------------------------------------
246.6 251.0 4.4 11.9 0.347
--------------------------------------------------------
5 BC09-12 Pending
--------------------------------------------------------
6 BC09-13 Pending
--------------------------------------------------------
7 BC09-14 Pending
--------------------------------------------------------
8 BC09-15 Pending
--------------------------------------------------------
9 BC09-16 Pending
--------------------------------------------------------
10 BC09-17 Pending
--------------------------------------------------------
115.0 119.7 4.7 1.11 0.032
------------------------------------------
including
------------------------------------------
118.7 119.7 1.0 4.90 0.143
------------------------------------------
204.4 214.3 9.9 1.80 0.053
------------------------------------------
including
------------------------------------------
214.3 215.0 0.7 22.7 0.662
------------------------------------------
11 CM09-03 217.5 219.5 2.0 14.0 0.408
------------------------------------------
334.4 336.5 2.1 1.82 0.053
------------------------------------------
369.3 375.0 5.7 5.27 0.154
------------------------------------------
including
------------------------------------------
369.3 375.0 5.7 8.41 0.245
------------------------------------------
435.0 445.0 10.0 7.72 0.225
------------------------------------------
589.2 589.9 0.7 1.67 0.049
--------------------------------------------------------
On Behalf of the Board of Directors
J. Frank Callaghan, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Andrew H. Rees
International Wayside Gold Mines Ltd.
Director
604 669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
www.wayside-gold.com
International Wayside Gold Mines Announces Upcoming Resource Development and Drill Programs
Tue Sep 15, 10:43 AM
http://ca.news.finance.yahoo.com/s/15092009/28/link-f-ccnmatthews-international-wayside-gold-mines-announces-upcoming-resource-development.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2009) - International Wayside Gold Mines Ltd. ("Wayside", the "Company"), (TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F), announced today its near term development and drill programs designed to advance its NI 43-101 compliant resources at the Cariboo Gold Project.
Wayside's current NI 43-101 resources are as follows:
----------------------------------------------------------------------------
Grade Contained
Area Category(1) Tonnes (g/t) Gold Ounces(2) Prepared by
----------------------------------------------------------------------------
Cariboo
Gold Indicated 6,013,000 2.23 430,885 Giroux 2006
--------------------------------------------------
Quartz Inferred 1,527,000 1.85 90,936
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Bonanza Measured 234,677 6.69 50,392
Ledge --------------------------------------------------
Indicated 334,433 5.31 57,140 Mintec 2009
--------------------------------------------------
Inferred 373,123 6.10 73,087
----------------------------------------------------------------------------
----------------------------------------------------------------------------
BC Vein Indicated 296,000 5.31 50,600 Giroux 2002
--------------------------------------------------
Inferred 291,000 2.40 22,400
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QR Pre-feasibility study to be completed September 2009
----------------------------------------------------------------------------
(1)Conforms to NI 43-101, 43101CP and current CIM definitions for resources.
All numbers are rounded. (2)Cutoff grade is 0.69 gpt Au.
Upcoming Drill Programs and Resource Development
Bonanza Ledge -
Management received a positive Pre-Feasibility Study ("PFS") on the proposed Bonanza Ledge open pit gold mine (see News Release 09-22, Sept. 10, 2009) and is taking the necessary steps to advance the project to production. In addition, drilling to improve the resources is in progress.
With a $950 per ounce gold price, project economics in the PFS outline pre-tax cash flow during the 4 year mine life at $20.5 million, a pre-tax internal rate of return of 111.8% and a net present value (5% discount) of $16.3 million. The net present value figure applies only to the proposed Bonanza Ledge open pit gold mine and does not represent value relating to the Company's other NI 43-101 compliant resources.
Cariboo Gold Quartz -
A Notice of Work has been submitted to begin drilling 202 holes below the 1200' Level to develop additional ounces underneath the current NI43-101 compliant resource. Historic mining records suggest the grade is continuous with the area having a similar tonnage potential as that above the 1200' Level.
Wayside President J. Frank Callaghan states, "A Notice of Work will also be submitted to twin historic drill holes above the 1200' Level at Cariboo Gold Quartz, with the objective to bring the current 43-101 back to its pre-43-101 resource of 1 million ounces, indicated by two resource estimates".
BC Vein -
In March 2000, the Bonanza Ledge Zone was discovered in the footwall of the BC Vein on Barkerville Mountain. The BC Vein has now been traced as much as 1600 meters beyond the Bonanza Ledge Zone. Additional drilling on Cow Mountain to delineate the BC Vein's strike extension offset by the Lowhee Fault is in progress.
The current BC Vein NI 43-101 resource estimate will be updated to include an additional 106 drill holes (15,273 meters) drilled by the Company to date that have cut into the BC Vein and have not yet been added to the resource model.
About International Wayside Gold Mines
The Company has been developing its 106,484 hectare Cariboo Gold Project in Barkerville, B.C., which encompasses (from northwest to south east) the former producing Hardscrabble Tungsten Mine, Mosquito Creek Gold Mine (on care and maintenance), Aurum Mine, Island Mountain Mine, Cariboo Gold Quartz Mine, Bonanza Ledge (proposed mine), the Cariboo Thompson Gold & Silver Mine and the Cariboo Hudson Mine.
The Company has also entered into a letter of intent with 0373849 B.C. Ltd. (formerly Cross Lake Minerals Ltd.) ("Cross Lake") pursuant to which Wayside will purchase a subsidiary of Cross Lake holding all of Cross Lake's interest in the QR Mine and Mill (the "Sale Transaction"). Concurrently with the completion of the Sale Transaction, Wayside will enter into a Spin-off Transaction to transfer all of its properties, including the QR Mine and Mill, Cariboo Gold Project, and its assets, liabilities and obligations, to Barkerville Gold Mines Ltd. ("Barkerville"), a wholly-owned subsidiary of Wayside, in exchange for shares of Barkerville (the "Barkerville Shares") and will then distribute the Barkerville Shares to the shareholders of Wayside on the basis of one Barkerville Share for each share of Wayside. The Sale Transaction and Spin-Off Transaction (together, the "Transactions") will be structured as a Plan of Arrangement involving Wayside, its security holders, Cross Lake and Barkerville pursuant to the provisions of the B.C. Business Corporations Act. The final terms of the Transactions will be modified to the extent necessary to give effect to tax and legal advice to be sought by the parties.
Barkerville will make an application to list its shares on the TSX Venture Exchange (the "TSX.V"). This transaction is subject to meeting the usual listing requirements of the TSX.V, which will include having the necessary funds to meet the obligations of operating the QR Mine and Mill, conduct recommended work programs on its Cariboo Gold exploration projects, satisfy the necessary general and administrative expenses and having unallocated working capital. Completion under the Plan of Arrangement will also be subject to obtaining the necessary shareholder, regulatory and court approvals.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Frank Callaghan, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Andrew H. Rees
International Wayside Gold Mines Ltd.
Director
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
www.wayside-gold.com
International Waysid (TSX:WYG)
Last Price (CAD)
$ 0.44
Change
▲ 0.085 (23.94%)
Bid 0.43
Ask 0.44
Volume 64,000
Day's Range 0.345 - 0.44
Last Trade 1:45:38 PM EDT
Click for Detailed Quote Page
International Wayside Gold Mines Ltd.: NI 43-101 Report Filed on Recently Acquired Cariboo Land Package
Wed Jun 24, 10:05 AM
http://ca.news.finance.yahoo.com/s/24062009/28/link-f-ccnmatthews-international-wayside-gold-mines-ltd-ni-43-101.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - International Wayside Gold Mines Ltd. (TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F) ("Wayside") is pleased to announce it has filed a National Instrument NI 43-101 Technical Report ("the Report") prepared by Jarrod Brown, M. Sc., P. Geo. and Jim Yin, Ph.D., P.Geo., on Wayside's 276.7 sq. km land package recently acquired from Golden Cariboo Resources, at the Cariboo Gold Project near Wells, British Columbia. The full report is available for download on the company's website at www.wayside-gold.com.
The 2000-2008 exploration programs discussed in the Report confirmed the wide spread presence of quartz vein and pyrite replacement styles of gold mineralization on the land package. The numerous anomalies and occasional high grade values encountered in the exploration programs verify the conviction that the land package has potential to host well-mineralized gold ore bodies, possibly of economic grade.
The Report recommends a 2009 exploration program on G Property consisting of 1,829 meters (6,000 feet) of diamond drilling with a proposed budget of $420,250.00. A two phase exploration program in 2009 is recommended for the Warspite Property on Mt. Proserpine. Phase I consists of a SP survey within the previously selected prospect area in 2006. Phase II consists of trenching and 1,524 meters (5,000 feet) of diamond drilling to test the SP anomalies of Phase I. The total budget for the 2009 exploration programs on the Warspite Property is $373,500.00. The grand total proposed budget for the 2009 exploration programs on both G and Warspite Properties on the land package is $793,750.00.
The Company initiated operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.
Wayside is in the process of acquiring the QR Mine and 900 tonne per day QR Mill, which was fully operational until February 2009 (now on care and maintenance). The QR Mill is a CIP mill designed for an output of 70,000 ounces of gold per annum for that location. The mill is 110 km by road from Wayside's Cariboo Gold Project and proposed Bonanza Ledge Mine.
The technical information in this News Release has been reviewed and approved by chief geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Frank Callaghan, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Andrew Rees
International Wayside Gold Mines Ltd.
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
www.wayside-gold.com
International Wayside Gold Mines Ltd.: Corporate Update on Proposed QR Mine & Mill Acquisition
VANCOUVER, BRITISH COLUMBIA, Jun 03, 2009
(MARKETWIRE via COMTEX) --
International Wayside Gold Mines Ltd.
("Wayside") (TSX VENTURE: WYG)(FRANKFURT: IWUB) is pleased
to announce on June 1, 2009, Cross Lake Minerals Ltd.
("Cross Lake") completed the closing conditions of the plan
of compromise and arrangement (the "Plan"), including
obtaining final BC Supreme Court approval, thus allowing
Wayside to proceed to enter into an agreement
("the Agreement") first announced on February 04, 2009 and
updated April 9, 2009 whereby Wayside will purchase
the QR Mine and Mill.
Completion of the Agreement is subject to the satisfaction
of a number of conditions including, but not limited to,
completion of due diligence and obtaining the necessary
shareholder, regulatory and Court approvals.
The 900 tonne per day QR Mill, which was fully operational
until February 2009 (now on care and maintenance),
is a CIP mill designed for an output of 70,000 ounces of gold
per annum for that location.
The mill is located 110 km by road from Wayside's Cariboo
Gold Project and proposed Bonanza Ledge Mine.
Following a positive feasibility study in 1994,
Kinross Gold Corp. constructed the QR Mill with capital costs
estimated at over $40 million.
Cross Lake commenced operations at the QR Mine in 2007 after
spending over $34 million in the preceding 24 months on
project acquisition ($4.3 million),
exploration & development ($20 million)
and refurbishing the mill facilities ($10.3 million).
Cross Lake expended an additional $3 million
on asset retirement obligations,
including having BC Hydro bring three phase power
to the project.
It is Wayside's objective to process material from its
proposed Bonanza Ledge Mine
(subject to receipt of all necessary permits) at
the QR Mill, in addition to recommencing operations
at the QR Mine.
The Company initiated operations in the Cariboo District
in 1994 and since that time has focused on
the exploration and development of its gold properties.
Mineral tenures in the Historic Cariboo Goldfields encompass
approximately 1,065 square km (106,484 hectares) over a
60 km long by 20 km wide belt.
In the Barkerville Gold Camp, 101 creeks have reported
placer gold production.
Recorded gold production from the area totals more than
3.8 million ounces, including an
estimated 2.64 million ounces from placer mining
and 1.23 million ounces from lode mining.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Frank Callaghan, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Contacts:
International Wayside Gold Mines Ltd.
Andrew H. Rees
Director
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
http://www.wayside-gold.com
SOURCE: International Wayside Gold Mines Ltd.
CONTACT:
http://www.wayside-gold.com
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=CRNKF#getNews
International Wayside Gold Mines Ltd.: Corporate Update on Proposed QR Mine & Mill Acquisition
Wed Jun 3, 12:30 PM
http://ca.news.finance.yahoo.com/s/03062009/28/link-f-ccnmatthews-international-wayside-gold-mines-ltd-corporate-update-proposed.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2009) -
International Wayside Gold Mines Ltd. -
("Wayside") (TSX VENTURE: WYG.V)(FRANKFURT: IWUB.F) is pleased to announce on June 1, 2009, Cross Lake Minerals Ltd. ("Cross Lake") completed the closing conditions of the plan of compromise and arrangement (the "Plan"), including obtaining final BC Supreme Court approval, thus allowing Wayside to proceed to enter into an agreement ("the Agreement") first announced on February 04, 2009 and updated April 9, 2009 whereby Wayside will purchase the QR Mine and Mill. Completion of the Agreement is subject to the satisfaction of a number of conditions including, but not limited to, completion of due diligence and obtaining the necessary shareholder, regulatory and Court approvals.
The 900 tonne per day QR Mill, which was fully operational until February 2009 (now on care and maintenance), is a CIP mill designed for an output of 70,000 ounces of gold per annum for that location. The mill is located 110 km by road from Wayside's Cariboo Gold Project and proposed Bonanza Ledge Mine. Following a positive feasibility study in 1994, Kinross Gold Corp. constructed the QR Mill with capital costs estimated at over $40 million.
Cross Lake commenced operations at the QR Mine in 2007 after spending over $34 million in the preceding 24 months on project acquisition ($4.3 million), exploration & development ($20 million) and refurbishing the mill facilities ($10.3 million). Cross Lake expended an additional $3 million on asset retirement obligations, including having BC Hydro bring three phase power to the project. It is Wayside's objective to process material from its proposed Bonanza Ledge Mine (subject to receipt of all necessary permits) at the QR Mill, in addition to recommencing operations at the QR Mine.
The Company initiated operations in the Cariboo District in 1994 and since that time has focused on the exploration and development of its gold properties. Mineral tenures in the Historic Cariboo Goldfields encompass approximately 1,065 square km (106,484 hectares) over a 60 km long by 20 km wide belt. In the Barkerville Gold Camp, 101 creeks have reported placer gold production. Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Frank Callaghan, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Andrew H. Rees
International Wayside Gold Mines Ltd.
Director
604-669-6463 or Toll Free: 1-800-663-9688
604-669-3041 (FAX)
http://www.wayside-gold.com
Followers
|
8
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
110
|
Created
|
08/25/06
|
Type
|
Free
|
Moderators |
International Wayside Gold Mines Ltd.
|
www.wayside-gold.com/s/Operations.asp
Business Description:
Engaged in the acquisition, exploration and development
of gold mining properties in Canada.
Address:
675 West Hasting Street, Suite 1500, Vancouver,
BC, CN V6B 1N2
Telephone:
(604) 669-6463
Website:
http://www.wayside-gold.com
Facsimile:
(604) 669-3041
Email:
info@wayside-gold.com
INTL WAYSIDE GOLD MINES LTD.
http://www.investorshub.com/boards/quotes.asp?ticker=t.TVI&qm_page=22931&qm_symbol=v.wgm
http://finance.yahoo.com/q?s=WGM.V
INTL WAYSIDE GOLD MI (IWGMF.PK)
http://www.investorshub.com/boards/quotes.asp?ticker=IWGMF
http://finance.yahoo.com/q?s=IWGMF.PK
INTL WAYSIDE GOLD (IWUA.F)
http://finance.yahoo.com/q?s=IWUA.F
INTL WAYSIDE GOLD (IWUA.DE)
http://finance.yahoo.com/q?s=IWUA.DE
www.ivarkreuger.com/metalcharts.htm
Money Masters: Federal Reserve History part 1 of 3
http://video.google.com/videoplay?docid=8442305921010099392&q=conspiracy
Money Masters: Federal Reserve History part 2 of 3
http://video.google.com/videoplay?docid=5020331178524208549&q=conspiracy
Money Masters: Federal Reserve History part 3 of 3
http://video.google.com/videoplay?docid=6666372716915416357&q=conspiracy
A good presentation of market is explaned -
in below link -
http://www.businessjive.com/nss/darkside.html
http://www.ipetitions.com/petition/AFTF_P_1/
http://www.goldrush21.com/
Useful PM related sites:
http://www.24hgold.com/
http://www.jsmineset.com/
http://www.marketwatch.com/
http://www.mineweb.com/
http://www.gold-eagle.com/
http://www.kitco.com/
http://www.usagold.com/
http://www.usagold.com/amk/usagoldmarketupdate.html
http://www.GoldSeek.com/
http://www.GoldReview.com/
http://www.capitalupdates.com/
http://www.dailyreckoning.com/
http://www.goldenbar.com/
http://www.silver-investor.com/
http://www.thebulliondesk.com/
http://www.sharelynx.com/
http://www.mininglife.com/
http://www.financialsense.com/
http://www.fgmr.com/
http://www.goldensextant.com/
http://www.goldismoney.info/index.html
http://www.howestreet.com/
http://www.depression2.tv/
http://www.un-debt.net/
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.goldcolony.com/
http://www.miningstocks.com/
http://www.mineralstox.com/
http://www.freemarketnews.com/
http://www.321gold.com/
http://www.silverseek.com/
http://www.investmentrarities.com/
http://www.kereport.com/ (Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm (in Spanish)
http://www.plata.com.mx/plata/plata/english.htm (in English)
http://www.resourceinvestor.com/
http://www.miningmx.com/
http://www.prudentbear.com/
http://www.dollarcollapse.com/
http://www.kitcocasey.com/
http://000999.forumactif.com/
http://www.golddrivers.com/
http://www.goldpennystocks.com/
http://www.oroyfinanzas.com/
http://www.goldcore.com/
http://coininfo.com/
http://www.insidegold.com/
http://www.goldmau.com/
http://www.milesfranklin.com/
http://www.silverminers.com/
http://www.gold-speculator.com/
http://bullion.nwtmint.com/
http://www.preciousmetalsmonthly.com/
http://www.silverstockreport.com/
http://www.longwavegroup.com/
http://theaureport.com/
Subscription sites:
http://www.lemetropolecafe.com/
http://www.marketforceanalysis.com/
http://www.hsletter.com/
http://www.interventionalanalysis.com/
http://www.investmentindicators.com/
http://www.caseyresearch.com/
http://www.deepcaster.com/
http://www.vrtrader.net/
Eagle Ranch discussion site:
http://os2eagle.net/SSL/phpentry.php
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
Conspiracy World: A Truthteller's Compendium of Eye-Opening Revelations and Forbidden Knowledge
Your opinions are appreciated -
Welcome TIA
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |