Barkerville Gold Mining (fka BGMZF)

[howestreetbull]

BGMZF BGM Intersects 14.03 g/t Au Over 10.55 Metres at Shaft Zone
by @newswire on August 29, 2017
NEW FOOTWALL EXTENSION GRADES 48.07 G/T AU OVER 4.10 METRES

TORONTO, Aug. 29, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is very pleased to announce that additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration drilling program at the Company's flagship Cariboo Gold Project have confirmed short range continuity of the vein systems and expanded a veining corridor at depth in the Shaft Zone. The Company is currently exploring and delineating the Valley and Shaft Zones with eight drill rigs, while a ninth drill rig is testing a broad gold in soil anomaly on Barkerville Mountain. Drill ten is currently expanding the known mineralization on the BC Vein. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.

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

Shaft Zone Footwall Mineralization Expanded

Drillhole IM-17-132 has extended the shallow footwall extents of the vein-hosting sandstone package through the intersection of new veining grading 48.07 g/t Au over 4.10 metres at a vertical depth of 90 metres below surface. This new intersection represents the up-dip extension of mineralization intersected by previously reported Phase II drillhole IM-17-101 which discovered two significant veining corridors grading 13.31 g/t Au over 11.00 metres and 7.60 g/t Au over 11.75 metres at vertical depths of 180 metres and 250 metres respectively. This footwall portion of the Shaft Zone is sparsely drilled and is open for expansion in all directions.

Infill Drilling Discovers New Veining

Averaging 14.03 g/t Au over 10.55 metres at a vertical depth of 150 metres in the Shaft Zone, Phase II infill drillhole IM-17-128 intersected new veining in an area that was formerly believed to be closed off by Phase I drilling. At an average vertical depth of 410 metres below surface, infill drillhole IM-17-130 intersected three veining corridors grading 12.39 g/t Au over 8.85 metres, 6.54 g/t Au over 8.50 metres followed by 10.38 g/t over 9.50 metres. These new occurrences are situated 20 metres southwest along vein strike of previously reported drillhole IM-17-104 which intersected 11.93 g/t Au over 7.15 metres. The lack of drilling below these intersections allows for downdip expansion.

"Drilling on Island Mountain again identifies new vein corridors and extensions to previously discovered mineralized zones," noted Chris Lodder, President and CEO of BGM. "With the large number of mineralized occurrences identified to date, the Exploration team is now working with our Operations and Environmental Departments on a development plan and permitting to gain new underground access to Island Mountain, the Valley Zone and Cow Mountain. This access will be advanced over the next few years and allow for more efficient exploration, assist with feasibility level work requirements and reduce surface disturbances. In the meantime, drilling from surface will continue at a rate of at least 120,000 m per year."

Qualified Persons

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

Quality Assurance – Quality Control

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

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

About Barkerville Gold Mines Ltd.

The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville's mineral tenures cover 2,110 square kilometres along a strike length of 67 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by Barkerville in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of 2015 with 91,489 tonnes of material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

Cautionary Statement on Forward -Looking Information

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

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

HOLE-ID
FROM (M)
TO (M)
CORE LENGTH (M)
AU (G/T)
CM-17-063
78.60
79.25
0.65
8.73
CM-17-063
212.00
212.65
0.65
8.78
CM-17-063
333.60
334.35
0.75
34.80
CM-17-063
371.85
377.40
5.55
7.50
INCLUDING
371.85
372.35
0.50
9.06
AND
372.35
372.85
0.50
21.10
AND
372.85
373.35
0.50
45.20
CM-17-064
76.90
77.40
0.50
13.70
CM-17-064
81.90
82.75
0.85
31.10
CM-17-064
151.70
156.10
4.40
16.44
INCLUDING
151.70
152.55
0.85
53.40
AND
153.10
153.60
0.50
24.00
AND
155.60
156.10
0.50
25.20
CM-17-064
289.00
289.70
0.70
15.35
CM-17-064
290.20
291.00
0.80
7.17
CM-17-064
300.50
301.00
0.50
10.65
CM-17-064
321.80
330.70
8.90
9.01
INCLUDING
321.80
322.30
0.50
13.60
AND
325.30
325.80
0.50
14.85
AND
325.80
326.85
1.05
38.70
AND
326.85
327.35
0.50
25.60
AND
330.10
330.70
0.60
19.55
CM-17-064
378.70
379.35
0.65
13.35
CM-17-064
389.15
389.95
0.80
14.95
CM-17-064
598.60
599.10
0.50
17.45
CM-17-065
100.30
100.95
0.65
7.17
CM-17-065
145.70
146.55
0.85
8.66
CM-17-065
169.50
170.00
0.50
13.75
IM-17-122
541.70
542.20
0.50
11.10
IM-17-122
592.15
595.25
3.10
8.26
INCLUDING
593.00
593.70
0.70
14.95
AND
594.55
595.25
0.70
14.35
IM-17-123



ASSAYS PENDING
IM-17-125
417.45
418.25
0.80
8.94
IM-17-125
626.00
629.45
3.45
16.20
INCLUDING
626.00
626.70
0.70
7.40
AND
626.70
627.75
1.05
7.74
AND
628.70
629.45
0.75
56.80
IM-17-125
641.50
642.00
0.50
26.90
IM-17-125
645.00
645.75
0.75
16.00
IM-17-125
647.30
648.00
0.70
8.85
IM-17-125
650.00
650.80
0.80
15.85
IM-17-126
175.60
176.30
0.70
11.20
IM-17-126
178.50
179.15
0.65
7.10
IM-17-126
325.40
325.90
0.50
11.00
IM-17-126
348.00
348.50
0.50
32.60
IM-17-126
350.85
351.45
0.60
10.50
IM-17-126
355.00
360.60
5.60
12.49
INCLUDING
355.80
356.30
0.50
9.90
AND
356.30
357.50
1.20
21.30
AND
357.50
358.10
0.60
32.60
AND
358.10
358.90
0.80
23.30
IM-17-126
370.00
370.50
0.50
33.60
IM-17-126
464.50
465.50
1.00
26.60
IM-17-126
484.30
484.80
0.50
35.30
IM-17-126
495.25
496.00
0.75
20.30
IM-17-127



ASSAYS PENDING
IM-17-128
144.30
144.90
0.60
8.01
IM-17-128
194.00
194.50
0.50
10.65
IM-17-128
207.10
217.65
10.55
14.03
INCLUDING
211.85
212.65
0.80
59.60
AND
213.85
214.60
0.75
119.50
IM-17-128
236.80
237.30
0.50
14.45
IM-17-128
241.85
242.35
0.50
11.95
IM-17-128
250.30
251.45
1.15
14.95
IM-17-128
297.25
298.20
0.95
10.20
IM-17-128
305.50
306.00
0.50
18.50
IM-17-128
446.30
447.10
0.80
8.37
IM-17-129
60.50
61.00
0.50
53.90
IM-17-129
122.50
123.00
0.50
7.75
IM-17-129
125.20
125.80
0.60
9.10
IM-17-129
174.30
175.35
1.05
8.39
IM-17-129
302.40
303.30
0.90
17.75
IM-17-129
335.35
336.00
0.65
17.00
IM-17-129
408.80
410.40
1.60
8.91
INCLUDING
409.30
409.85
0.55
14.05
AND
409.85
410.40
0.55
8.10
IM-17-129
440.00
440.50
0.50
15.15
IM-17-129
470.65
471.15
0.50
16.40
IM-17-130
99.65
100.15
0.50
69.60
IM-17-130
422.90
423.70
0.80
14.25
IM-17-130
449.70
450.30
0.60
43.00
IM-17-130
479.85
480.65
0.80
85.70
IM-17-130
577.65
586.50
8.85
12.39
INCLUDING
577.65
578.50
0.85
16.00
AND
585.45
586.50
1.05
81.40
IM-17-130
617.10
625.60
8.50
6.54
INCLUDING
621.90
622.80
0.90
9.68
AND
624.80
625.60
0.80
46.30
IM-17-130
638.10
647.60
9.50
10.38
INCLUDING
645.30
646.00
0.70
88.80
AND
646.60
647.60
1.00
17.40
IM-17-131



ASSAYS PENDING
IM-17-132
165.90
170.00
4.10
48.07
INCLUDING
165.90
166.60
0.70
277.00
IM-17-133
227.10
228.00
0.90
13.25
IM-17-133
231.80
232.50
0.70
8.42
IM-17-133
251.40
252.10
0.70
10.95
IM-17-134
20.65
21.40
0.75
20.40
IM-17-134
69.90
70.50
0.60
10.25
IM-17-134
262.00
269.00
7.00
11.29
INCLUDING
262.00
263.00
1.00
19.20
AND
263.00
264.00
1.00
27.20
AND
264.00
265.00
1.00
16.15
IM-17-134
304.40
312.50
8.10
4.36
INCLUDING
305.00
306.00
1.00
7.31
AND
310.10
311.00
0.90
9.62
IM-17-134
332.70
333.60
0.90
14.05
IM-17-134
332.70
342.50
9.80
4.49
INCLUDING
332.70
333.60
0.90
14.05
AND
341.75
342.50
0.75
24.40
IM-17-135
293.00
296.20
3.20
13.78
INCLUDING
293.00
293.70
0.70
32.90
AND
294.35
295.40
1.05
16.05
IM-17-136
65.00
66.50
1.50
8.23
IM-17-137
60.25
60.95
0.70
9.30
IM-17-137
250.75
251.50
0.75
19.10
True widths cannot be accurately determined from the information available therefore core lengths are reported. Rock not recovered by drilling was assigned zero grade. Top cuts have not been applied to high grade assays.

Table 2: Drillhole Collar Orientations:

HOLE-ID
AZIMUTH
DIP
CM-17-063
309.70
-48.20
CM-17-064
312.00
-45.00
CM-17-065
313.30
-58.70
IM-17-122
128.30
-45.30
IM-17-125
127.80
-65.00
IM-17-126
138.20
-44.20
IM-17-128
139.80
-42.50
IM-17-129
144.60
-62.90
IM-17-130
135.60
-44.70
IM-17-132
139.60
-44.80
IM-17-133
141.40
-63.90
IM-17-134
139.60
-45.00
IM-17-135
142.10
-63.70
IM-17-136
142.10
-64.20
IM-17-137
144.90
-64.70



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

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

SOURCE Barkerville Gold Mines Ltd.


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