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Barkerville Gold Mines Ltd
Symbol BGM
Shares Issued 109,851,706
Close 2013-12-13 C$ 0.42
Market Cap C$ 46,137,717
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Barkerville 2011 Cow core shows 17.5 m of 104.8 g/t Au

2013-12-16 09:00 ET - News Release

Mr. Andrew Rees reports

BARKERVILLE GOLD MINES REPORTS METALLIC SCREEN FIRE ASSAY RESULTS OF SEVEN DIAMOND DRILL HOLES CONDUCTED ON COW MT. IN 2011, INCLUDING 57.4 FEET OF 3.057 OZ/T GOLD

Barkerville Gold Mines Ltd. has released results from its complete hole metallic screen fire assay program from seven diamond drill holes conducted on Cow Mountain in 2011. As recommended in the company's National Instrument 43-101 technical report dated Dec. 31, 2012 (see news release dated June 18, 2013), and mentioned in the company's news release dated Dec. 9, 2013, all reject samples with standard fire assays completed in 2011 and infill core samples collected in 2013 have been sent to the assay lab for 500-to-1,000-gram metallic screen fire assaying.

Results from the first seven complete drill holes have been received thus far and significant intercepts are listed in the table. Highlights include:

  • CM11-25B: 17.5 metres (57.4 feet) of 104.8 grams per tonne (3.057 ounces per ton) gold between 105.2 and 122.7 metres (345.0 and 402.4 feet), including 6.4 metres (21.0 feet) of 280.5 grams per tonne (8.181 ounces per ton) gold between 114.3 and 120.7 metres (375.0 and 396.0 feet);
  • CM11-27: 17.4 metres (57.0 feet) of 25.71 grams per tonne (0.750 ounce per ton) gold between 78.9 and 96.3 metres (259.0 and 316.0 feet), including 2.1 metres (seven feet) of 206.2 grams per tonne (6.014 ounces per ton) gold between 78.9 and 81.1 metres (259.0 and 266.0 feet);
  • CM11-31: four metres (13.1 feet) of 11.74 grams per tonne (0.342 ounce per ton) gold between 42.7 and 46.7 metres (140.1 and 153.2 feet);
  • CM11-36: 11.0 metres (36.2 feet) of 12.83 grams per tonne (0.374 ounce per ton) gold between 217.7 and 228.8 metres (714.3 and 750.5 feet), including 4.5 metres (14.6 feet) of 15.16 grams per tonne (0.442 ounce per ton) gold between 217.7 and 222.2 metres (714.3 and 728.9 feet), and including 5.5 metres (18.1 feet) of 13.44 grams per tonne (0.392 ounce per ton) gold between 223.2 and 228.8 metres (732.4 and 750.5 feet);
  • CM11-38: 4.1 metres (13.6 feet) of 29.82 grams per tonne (0.870 ounce per ton) gold between 201.7 and 205.9 metres (661.8 and 675.4 feet);
  • CM11-87: 13.4 metres (44.1 feet) of 15.48 grams per tonne (0.451 ounce per ton) gold between 229.9 and 243.3 metres (754.1 and 798.2 feet), including 6.3 metres (20.7 feet) of 25.62 grams per tonne (0.747 ounce per ton) gold between 237.0 and 243.3 metres (777.5 and 798.2 feet).

 SIGNIFICANT INTERCEPTS OF METALLIC SCREEN FIRE ASSAY 
   RESULTS OF BOTH REJECT AND INFILL CORE SAMPLES OF 
             DRILL HOLES ON COW MOUNTAIN
 
                                 Width        Au    Au 
Hole ID         From      To   (ft)   (m)   (g/t)(oz/t)

CM11-25B       345.0   402.4  57.4  17.5  104.8  3.057
Including      352.1   361.8   9.7   3.0   11.79 0.344
and including  375.0   396.0  21.0   6.4  280.5  8.181
CM11-27        259.0   316.0  57.0  17.4   25.71 0.750
Including      259.0   266.0   7.0   2.1  206.2  6.014
CM11-31        140.1   153.2  13.1   4.0   11.74 0.342
               186.9   213.3  26.4   8.0    3.17 0.092
Including      190.5   201.3  10.8   3.3    7.05 0.206
               230.2   239.5   9.3   2.8    4.41 0.129
               510.2   522.3  12.1   3.7    9.40 0.274
CM11-34        317.1   334.6  17.5   5.3    1.49 0.043
CM11-36        374.0   398.2  24.2   7.4    3.11 0.091
               714.3   750.5  36.2  11.0   12.83 0.374
Including      714.3   728.9  14.6   4.5   15.16 0.442
and including  732.4   750.5  18.1   5.5   13.44 0.392
and including  740.0   750.5  10.5   3.2   20.78 0.606
CM11-38        275.6   312.4  36.8  11.2    5.89 0.172
               661.8   675.4  13.6   4.1   29.82 0.870         
               951.9   968.1  16.2   4.9    6.59 0.192
CM11-87         96.0    97.0   1.0   0.3   77.17 2.251
               127.3   138.6  11.3   3.4    5.14 0.150
               313.2   320.6   7.4   2.3    6.64 0.194
               739.7   747.3   7.6   2.3   16.02 0.467
               754.1   798.2  44.1  13.4   15.48 0.451
Including      777.5   798.2  20.7   6.3   25.62 0.747
             1,159.7 1,167.0   7.3   2.2    4.41 0.129

Note: uncut and uncapped grade 

All intercepts described may not be the true widths. Due to the complexity and mixture of three types of quartz veins, namely, strike, diagonal and orthogonal veins, true widths will not be available until the 3-D geological model is updated.

The standard fire assay technique was originally conducted on a relatively small (30-gram) aliquot of sample material that may or may not have been truly representative of the gold content of the sample as a whole. This can particularly be the case if coarse gold or visible gold was present, which is notoriously difficult to homogenize within a sample pulp. The screen metallic technique utilized in the company's double assay program effectively evaluates 500 grams of pulverized material for each sample and was specifically developed by laboratories to measure coarse or visible gold within pulverized sample materials to provide a more representative estimate of overall gold content.

Reject sampling, infill core sampling, and core sample cutting and/or assaying representing complete holes from 128 of 239 Cow Mountain drill holes conducted between 2007 and 2011 continue. The sampling and cutting are expected to be completed in January, 2014. News highlighting additional complete holes from the metallic screen assay program will be published when available.

A reject fraction or sample is generally the coarse crushed portion of a sample that remains after a split of the sample has been removed for fine crushing (pulverizing) and for analysis including fire assay. The coarse crush reject is the unassayed portion of the sample that was not pulverized for analysis and the word reject does not reflect quality but rather that portion of the sample not used to prepare for analysis. It is a common practice that when high-grade or coarse gold is found to be present, a metallic screen fire assay is performed on the coarse reject material utilizing higher subsample weight of 500 to 1,000 grams of material, as opposed to 30 grams used in a conventional fire assay.

Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ-sized drill core was cut/split in two halves using saws at the company's Lowhee Creek compound in Wells-Barkerville, 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 employees to a shipping company in Quesnel for transshipment to Inspectorate Exploration & Services Ltd. in Richmond, B.C., and ACME Analytical Laboratories Ltd. in Vancouver, both of which are Bureau Veritas Group companies, for analysis. Sample preparation and geochemical assaying is done at ACME and Inspectorate Labs, respectively, following their internal standards for quality control and verification. The gold assaying method uses a 500- and 1,000-gram metallic screen gold assay. Both ACME and Inspectorate are certified under the Assayers Certification Program of B.C.

The information contained in this news release has been reviewed and approved by the company's chief geologist, Dr. Jim Yin, PhD, PGeo, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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