BGM.v intersects 19.20 g/t Au over 54.40 metres and 11.42 g/t Au over 28.55 metres at Shaft Zone by @newswire on April 17, 2017
Two Wide Mineralized Stockworks Discovered at Island Mountain
TORONTO, April 17, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce a new discovery from the ongoing 130,000 metre Phase II Island Mountain and Valley Zone exploration drilling program at the Company's flagship Cariboo Gold Project. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.
Island Mountain Drillhole Location Map (CNW Group/Barkerville Gold Mines Ltd.)
New High Grade Stockworks Intersected at Shaft Zone
The Company is very pleased to announce that Island Mountain Shaft Zone drillhole IM-17-072 has discovered a formerly unidentified wide network of high tenor veining grading 19.20 g/t Au over 54.40 metres including 32.06 g/t Au over 30.70 metres. This new intersection consists of several higher-grade intervals including 272.00 g/t Au over 0.50 metres, 760.00 g/t Au over 0.85 metres, 64.20 g/t Au over 0.50 metres, 42.80 g/t Au over 0.50 metres, 65.40 g/t Au over 1.50 metres and 15.80 g/t Au over 1.15 metres. An intensely silica altered and pyritized sandstone package hosts this dense network of mineralized veining. Located 250 metres vertically below surface in the Shaft Zone, this auriferous occurrence is untested by drilling above and below the intersection and is open for expansion. In addition to the aforementioned intersection, IM-17-072 also established auriferous veining grading 25.00 g/t Au over 2.85 metres located 25 metres below surface, 16.55 g/t Au over 5.45 metres 100 metres vertically below surface, followed by 9.41 g/t Au over 3.30 metres 110 metres below surface.
Additional High Grade Stockworks Intersected at Shaft Zone
Situated 180 metres vertically below drillhole IM-17-072 which intersected 19.20 g/t Au over 54.40 metres including 32.06 g/t Au over 30.70 metres, drillhole IM-17-078 has discovered another broad occurrence of sandstone hosted stockwork veining averaging 11.42 g/t Au over 28.55 metres including two subintervals of 30.76 g/t Au over 6.60 and 12.10 g/t Au over 8.15 metres. These new intersections occur at vertical depth of 420 metres below surface, and are open for expansion in all directions due to the extremely limited drilling at this depth.
Because these standalone drillholes constitute two widely separated intercepts that cannot be confidently corroborated by additional drillhole pierce points, the geometry and hence true width of the potential mineralized zone cannot be assuredly concluded at this time.
Chris Lodder, President and CEO of Barkerville Gold Mines, comments, "These intersections are some of the best to date on Island Mountain that continues to produce new zones of higher grade, wide zones of gold mineralization. We will be following up with both wide spaced step out and closer infill drilling in this area to better determine dimensions of this potentially strongly mineralized vein corridor".
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 at Island Mountain. 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-17-072 25.50 28.35 2.85 25.00 SHAFT INCLUDING 25.50 26.60 1.10 32.10 SHAFT AND 26.60 27.85 1.25 28.70 SHAFT IM-17-072 107.40 112.85 5.45 16.55 SHAFT INCLUDING 107.40 108.20 0.80 52.20 SHAFT AND 109.20 109.85 0.65 68.60 SHAFT AND 112.35 112.85 0.50 7.09 SHAFT IM-17-072 119.45 122.75 3.30 9.41 SHAFT INCLUDING 120.85 122.25 1.40 18.50 SHAFT IM-17-072 146.65 147.15 0.50 24.90 SHAFT IM-17-072 200.50 203.10 2.60 17.69 SHAFT INCLUDING 201.60 202.15 0.55 82.00 SHAFT IM-17-072 211.60 212.60 1.00 19.40 SHAFT IM-17-072 223.60 226.85 3.25 5.36 SHAFT IM-17-072 243.95 247.70 3.65 28.37 SHAFT INCL 245.45 246.50 1.05 10.00 SHAFT AND 246.50 247.70 1.20 22.20 SHAFT IM-17-072 243.95 298.35 54.40 19.20 SHAFT INCLUDING 257.50 288.20 30.70 32.06 SHAFT INCLUDING 257.50 258.00 0.50 272.00 SHAFT AND 258.00 258.85 0.85 760.00 SHAFT AND 262.70 263.20 0.50 64.20 SHAFT AND 277.00 277.50 0.50 42.80 SHAFT AND 281.80 283.30 1.50 65.40 SHAFT AND 283.30 284.45 1.15 15.80 SHAFT IM-17-072 328.80 329.60 0.80 13.65 SHAFT IM-17-072 333.15 333.65 0.50 6.79 SHAFT IM-17-072 451.20 452.20 1.00 9.46 SHAFT IM-17-073
ABANDONED MC IM-17-074 43.10 45.10 2.00 6.68 MC INCLUDING 43.60 44.10 0.50 18.15 MC AND 44.10 44.60 0.50 6.65 MC IM-17-074 61.90 62.40 0.50 7.48 MC IM-17-075 72.60 73.20 0.60 23.50 MC IM-17-075 186.60 187.25 0.65 7.03 MC IM-17-076 319.80 320.30 0.50 1.33 MC IM-17-077 373.50 374.30 0.80 4.70 SHAFT IM-17-078 148.30 148.80 0.50 11.70 SHAFT IM-17-078 152.90 154.50 1.60 4.10 SHAFT IM-17-078 459.40 460.15 0.75 5.01 SHAFT IM-17-078 474.30 502.85 28.55 11.42 SHAFT INCLUDING 474.30 480.90 6.60 30.76 SHAFT INCLUDING 475.55 476.10 0.55 219.00 SHAFT AND 476.10 477.30 1.20 11.00 SHAFT AND 479.25 479.90 0.65 16.20 SHAFT AND 479.90 480.90 1.00 52.10 SHAFT IM-17-078 489.50 497.65 8.15 12.10 SHAFT INCLUDING 490.10 491.00 0.90 28.60 SHAFT AND 491.00 491.90 0.90 10.65 SHAFT AND 491.90 492.50 0.60 13.40 SHAFT AND 493.85 494.70 0.85 26.50 SHAFT AND 494.70 495.30 0.60 12.20 SHAFT AND 496.80 497.65 0.85 23.50 SHAFT IM-17-078 512.65 513.55 0.90 13.55 SHAFT 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.
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