Barkerville Gold Mining (fka BGMZF)

[howestreetbull]

BGMZF Intersects 31.22 g/t Au Over 7.50 Metres at Shaft Zone

New Mineralized Veins Expand Mosquito Creek to Depth

TORONTO, April 5, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce additional results from the ongoing 130,000 metre Phase II Island Mountain exploration drilling program at the Company's flagship Cariboo Gold Project. The Company is currently exploring and delineating Island Mountain with seven drill rigs and has now relocated an eighth rig to the Valley Zone which occurs between Cow and Island Mountains. Detailed drilling results, a drill hole location plan map, level plan and longitudinal section are presented at the end of this release.

Island Mountain Drillhole Location Map with Terrain Model and Mine Development, April 2017 (CNW Group/Barkerville Gold Mines Ltd.)

Drilling Highlights:

IM-17-045: 14.01 g/t Au over 5.25 metres
IM-17-049: 7.73 g/t Au over 8.35 metres
IM-17-050: 12.60 g/t Au over 6.00 metres
IM-17-058: 31.22 g/t Au over 7.50 metres
Note: True widths cannot be accurately determined from the information available therefore core lengths are reported.


Shaft Zone Continues to Demonstrate Continuity

31.22 g/t Au over 7.50 metres including 197.00 g/t Au over 1.10 metres was intersected by drillhole IM-17-058 in the southeastern portion of the Shaft Zone at a shallow depth of 80 metres below surface. This veining intersection correlates very well with previously reported veining defined by drillholes IM-17-046 which intersected 15.76 g/t Au over 4.00 metres 50 metres along vein strike and IM-17-033 which intersected 7.84 g/t Au over 3.80 metres, 150 metres along vein strike to the northeast. This newly defined high grade intersection is untested along strike to the southwest and is open for expansion at depth.

Averaging 7.73 g/t Au over 8.35 metres, drillhole IM-17-049 was successful in demonstrating vertical continuity with previously reported drillhole BGM-16-529 which intersected veining grading
6.90 g/t Au over 11.45 metres. The two drillhole intersections are separated by a vertical distance of 60 metres and remain untested below 250 metres vertical depth.

New Mineralization Expands Mosquito Creek to Depth

At vertical depths of 250 and 320 metres vertically below surface in the Mosquito Creek area, drillhole IM-17-045 intersected new veining grading 7.96 g/t Au over 3.75 metres and 14.01 g/t Au over 5.52 metres respectively. These new occurrences occur 100 metres northwest of previously reported 2016 Phase I drillhole BGM-16-527 which intersected deep veining grading 10.34 g/t Au over 11.50 metres at a vertical depth of 400 metres below surface. Additionally, drillhole IM-17-054 intersected another occurrence averaging 6.99 g/t Au over 3.10 metres situated 100 metres northwest of IM-17-045. The new veining outlined by these widely spaced, 100 metre centered drillholes is open for expansion in all directions.

About the Phase II Program

The 130,000 metre 2017 Phase II exploratory and delineation drill program on Island Mountain is intended to determine the extent of the vein systems that were historically never explored, and is aimed at discovering new vein systems and sulphide replacement bodies that will ultimately inform a maiden resource. Seven drill rigs are currently operating on Island Mountain, with an eighth rig testing for additional mineralization below the former Aurum and Cariboo Gold Quartz Mines which have never been explored since mining operations ceased circa 1960.

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company's Exploration Manager, Maggie Layman, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company's secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company's Qualified Person, Paul Geddes, P.Geo, Vice President Exploration.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

About Barkerville Gold Mines Ltd.
The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville's mineral tenures cover 1,164 square kilometres along a strike length of 60 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by Barkerville in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of 2015 with 91,489 tonnes of ore milled producing 25,464 ounces of gold. The Company has completed a number of drilling and exploration programs over the past 20 years and is currently compiling this data with all historical information in order develop geologic models which will assist new management and provide the framework to continue to explore the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

Cautionary Statement on Forward -Looking Information
Neither the TSX Venture Exchange ('TSXV') nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Table 1: Length weighted gold composites for Island Mountain Phase II drillholes:







HOLE-ID
FROM (M)
TO (M)
CORE LENGTH (M)
AU (G/T)
AREA
IM-17-045
278.10
281.85
3.75
7.96
MC
INCLUDING
278.10
279.10
1.00
18.00
MC
AND
280.60
281.10
0.50
20.70
MC
IM-17-045
358.90
364.15
5.25
14.01
MC
INCLUDING
358.90
359.40
0.50
13.70
MC
AND
361.00
362.00
1.00
23.60
MC
AND
362.00
363.05
1.05
30.60
MC
IM-17-045
399.80
401.80
2.00
5.62
MC
IM-17-045
460.30
460.80
0.50
10.85
MC
IM-17-047
134.60
135.75
1.15
20.93
SHAFT
INCLUDING
135.15
135.75
0.60
34.80
SHAFT
IM-17-047
243.50
245.30
1.80
16.53
SHAFT
INCLUDING
244.65
245.30
0.65
45.50
SHAFT
IM-17-049
124.75
125.25
0.50
28.30
SHAFT
IM-17-049
309.70
310.75
1.05
11.00
SHAFT
IM-17-049
357.65
366.00
8.35
7.73
SHAFT
INCLUDING
360.20
361.00
0.80
45.10
SHAFT
AND
363.65
364.85
1.20
15.80
SHAFT
IM-17-050
213.00
219.00
6.00
12.60
4300
INCLUDING
214.00
214.80
0.80
63.40
4300
AND
214.80
215.30
0.50
45.80
4300
IM-17-050
425.15
426.70
1.55
7.57
SHAFT
INCLUDING
425.90
426.70
0.80
13.75
SHAFT
IM-17-051



ASSAYS PENDING

IM-17-053
17.70
21.00
3.30
7.89
MC
INCLUDING
18.30
19.80
1.50
14.30
MC
AND
19.80
20.20
0.40
10.50
MC
IM-17-053
36.00
39.80
3.80
11.03
MC
INCLUDING
38.00
39.00
1.00
25.10
MC
IM-17-053
122.00
123.00
1.00
10.55
MC
IM-17-054
307.40
310.50
3.10
6.99
MC
INCLUDING
308.50
309.00
0.50
19.05
MC
AND
310.00
310.50
0.50
22.30
MC
IM-17-055
203.25
204.10
0.85
3.50
MC
IM-17-056
84.00
85.50
1.50
4.42
MC
IM-17-057



ASSAYS PENDING

IM-17-058
157.65
158.15
0.50
12.35
SHAFT
IM-17-058
188.50
196.00
7.50
31.22
SHAFT
INCLUDING
190.75
191.85
1.10
197.00
SHAFT
IM-17-059
91.90
92.60
0.70
4.14
MC


True widths cannot be accurately determined from the information available therefore core lengths are reported. Rock not recovered by drilling was assigned zero grade and not included in the composites. Top cuts have not been applied to high grade assays. NSA – No Significant Assays, Shaft = Shaft Zone, MC = Mosquito Creek.


Table 2: Drillhole Collar Orientations




HOLE-ID
AZIMUTH
DIP
IM-17-045
136.50
-63.90
IM-17-047
133.70
-44.20
IM-17-049
134.60
-44.70
IM-17-050
134.90
-64.20
IM-17-053
142.60
-45.40
IM-17-054
137.90
-65.20
IM-17-055
138.30
-44.80
IM-17-056
141.80
-65.00
IM-17-058
139.80
-46.20
IM-17-059
138.20
-64.30



Island Mountain Level Plan, Shaft Zone, 1,250 Metres Elevation, 60 Metres Envelope, April 2017 (CNW Group/Barkerville Gold Mines Ltd.)

Island Mountain Vertical Section, Shaft Zone, 110 Metre Envelope, April 2017 (CNW Group/Barkerville Gold Mines Ltd.)

Island Mountain, Vertical Longitudinal Section, Looking Northeast, 200 Metre Envelope, April 2017 (CNW Group/Barkerville Gold Mines Ltd.)

SOURCE Barkerville Gold Mines Ltd.


To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/April2017/05/c8335.html