20 million oz
Barkerville releases Cow, Island Mtn resource estimate
2018-05-02 16:45 ET - News Release
Shares issued 436,563,997
BGM Close 2018-05-02 C$ 0.67
Mr. Chris Lodder reports
BGM DEFINES COW AND ISLAND MOUNTAINS MAIDEN UNDERGROUND RESOURCE AND BARKERVILLE MOUNTAIN UPDATE
Barkerville Gold Mines Ltd. has released the maiden mineral resource estimate for Cow and Island Mountain deposits at its 100-per-cent-owned Cariboo gold project, located in Wells, B.C. The underground mineral resource estimate incorporates the Cow Mountain ("Cow") and Valley Zones ("Valley") on Cow Mountain and Shaft Zone ("Shaft") and Mosquito Creek ("Mosquito") on Island Mountain at a cut-off grade of 3.0 g/t Au ("grams per metric tonne"). A mineral resource on Bonanza Ledge and BC Vein is also included. The resource is defined over 6 kilometers of BGM's 67-kilometer-long land package. Infill and exploration drilling is ongoing and resource updates will be presented annually. The mineral resource estimate was conducted by Talisker Exploration Services Inc. and validated by InnovExplo Inc., an independent consulting firm based out of Val-d'Or, Quebec.
Cariboo Gold Project Mineral Resource
1.60 million ounces of gold in the measured and indicated category (8.1 million tonnes grading 6.1 g/t Au)
2.16 million ounces of gold in the inferred category (12.7 million tonnes grading 5.2 g/t Au)
The maiden Mineral resource estimate for Cow and Island Mountain deposits is built upon over 210,000 meters of diamond drilling from BGM's 2016 and 2017 drill campaigns, and historically verified drill data using a total of 2,328 drillholes. The mineral resource estimate is supported by a robust 3D litho-structural model of the gold-bearing vein corridors. A strong understanding of the controls of mineralization enabled the Company's technical team to construct a mineral resource estimate constrained by lithology, alteration, structure and mineralization. A total of 181 vein corridors were modelled.
2018 Cariboo Gold Project Underground Mineral Resource Estimate reported at a 3.0 g/t Au cut-off grade
Cariboo Gold Project Mineral Resources
Deposit Tonnes Au (g/t)Au Oz
Measured
Bonanza Ledge 264,000 7.3 61,900
Indicated
Bonanza Ledge 63,400 4.8 9,700
BC Vein 444,900 6.4 91,600
Mosquito 247,000 9.5 75,700
Shaft 4,373,200 5.9 835,600
Valley 769,600 5.8 142,700
Cow 1,947,800 6.1 381,800
Total Indicated 7,845,900 6.1 1,537,100
Total Measured and Indicated8,109,900 6.1 1,599,000
Inferred
BC Vein 173,400 4.6 25,400
Mosquito 699,200 6.0 135,600
Shaft 7,357,000 5.1 1,213,000
Valley 2,454,300 5.4 423,400
Cow 2,047,300 5.4 358,300
Total Inferred 12,731,2005.2 2,155,700
