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Barkerville Gold Mines Ltd
Symbol BGM
Shares Issued 389,015,997
Close 2017-10-30 C$ 0.76
Market Cap C$ 295,652,158
Recent Sedar+ Documents

Barkerville drills four m of 35.2 g/t Au at Cariboo

2017-10-31 07:06 ET - News Release

Mr. Chris Lodder reports

BGM INTERSECTS 35.20 G/T AU OVER 4.00 METRES AT SHAFT ZONE

Barkerville Gold Mines Ltd. has released additional drilling results from the continuing 160,000-metre phase 2 Island Mountain exploration and infill drilling program at the company's flagship Cariboo gold project. The company is currently exploring and delineating the Valley and Shaft zones with nine drill rigs, while a 10th drill is expanding the known mineralization on the B.C. vein. Detailed drilling results, a drill hole location plan map and vertical sections are presented on the company's website. The exact geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time therefore core lengths are reported.

Highlights:

  • IM-17-156: 17.65 grams per tonne gold over 6.70 metres;
  • IM-17-166: 12.23 g/t Au over 6.70 metres;
  • IM-17-168: 16.05 g/t Au over 5.72 metres;
  • IM-17-169: 19.58 g/t Au over 6.65 metres;
  • IM-17-170: 20.50 g/t Au over 5.50 metres;
  • IM-17-173: 10.82 g/t Au over 8.60 metres;
  • IM-17-173: 35.20 g/t Au over 4.00 metres.

Beta corridor continues to expand to depth

The company is pleased to announce that phase 2 drill hole IM-17-169 has expanded the recently announced Beta corridor via the intersection of 19.58 g/t Au over 6.65 metres at a vertical depth of 320 metres below surface. The expansion occurs 90 metres southwest and updip along corridor strike from previously disclosed phase 2 drill hole IM-17-142 which intersected 10.04 g/t Au over 8.20 metres. Infill drilling between the above-mentioned drill holes has demonstrated the grade and geological continuity of this area as IM-17-173 intersected two veining systems grading 10.82 g/t Au over 8.60 metres and 7.70 g/t Au over 8.35 metres at respective vertical depths of 275 and 350 metres below surface. The Beta corridor still remains open for expansion along vein strike as well as downdip.

Infill drilling in the Beta corridor is also indicating the grade and geological continuity of this vein system as demonstrated by drill hole IM-17-172 which intersected two zones averaging 12.81 g/t Au over 4.80 metres followed closely by 12.56 g/t over 3.45 metres at a vertical depth of 150 metres below surface. These intersections occur 40 metres updip of previously released drill hole IM-17-141 which intersected 6.09 g/t Au over 20.40 metres.

Shaft zone -- corridors discussion

The sandstone-hosted veining which constitutes the newly named Alpha, Beta and Gamma corridors of the Shaft zone are manifested as an anastomosing network of high vein density with an overall subvertical dip and northeast strike. Based upon drilling results to date, estimated horizontal widths of the corridors are variable and range from five to 35 metres. These corridors, as well as others that are developing in the Shaft and Valley zones have been defined from surface to a vertical depth of 600 metres and remain open for expansion to depth and down plunge. Drill hole spacing in the corridors currently averages 25 metres between drilling sections with vertical drilling separations ranging from 20 to 75 metres with hole spacing increasing to depth. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

Qualified persons

Exploration activities at the Cariboo gold project are administered on-site by the company's exploration manager, Maggie Layman, PGeo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, PGeo, 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 (Canadian Institute of Mining, Metallurgy and Petroleum) Best Practices Guidelines in conducting, documenting and reporting its exploration activities on the Cariboo gold project.

Quality assuranc/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, B.C. 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 quality assurance/quality control program was designed and approved by Lynda Bloom, PGeo, of Analytical Solutions Ltd. and is overseen by Mr. Geddes.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, B.C., 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 are pulverized. Analysis for gold is by 50 g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 part per million and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are reanalyzed using a 1,000 g screen metallic fire assay. A selected number of samples are also analyzed using a 48-multielemental geochemical package by a four-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 hardrock mines of the historical Barkerville gold mining camp near the town of Wells, B.C. An extensive drill program is currently under way with the goal of delineating additional high-grade gold mineralization.

               LENGTH-WEIGHTED GOLD COMPOSITES FOR 
                 SHAFT ZONE PHASE 2 DRILL HOLES
  
Hole               From           To      Core length           Au
ID                  (m)          (m)              (m)        (g/t)

IM-17-154        108.90       109.60             0.70        23.60
IM-17-156         63.80        64.60             0.80        29.90
IM-17-156        128.00       129.60             1.60         6.91
IM-17-156        146.85       148.75             1.90        17.23
including        146.85       147.35             0.50        48.30
and              147.35       147.85             0.50        16.45
IM-17-156        153.00       153.50             0.50        10.95
IM-17-156        252.90       259.60             6.70        17.65
including        253.90       254.60             0.70        18.00
and              255.75       256.40             0.65        42.80
and              258.50       259.10             0.60        59.30
and              259.10       259.60             0.50        64.90
IM-17-156        279.50       280.80             1.30        11.75
IM-17-156        315.65       316.15             0.50        33.90
IM-17-156        359.75       361.50             1.75        52.69
including        360.75       361.50             0.75       116.50
IM-17-160        173.00       177.00             4.00         5.45
including        174.50       175.20             0.70        11.00
IM-17-160        181.50       182.00             0.50         9.17
IM-17-160        190.00       191.00             1.00        83.90
IM-17-160        375.50       376.00             0.50       119.50
IM-17-160        380.85       381.35             0.50        11.70
IM-17-160        415.35       415.90             0.55        10.95
IM-17-161         76.20        79.60             3.40         9.25
including         77.35        78.15             0.80        25.00
IM-17-161        133.40       134.50             1.10        19.55
IM-17-161        359.75       360.90             1.15         9.41
IM-17-161        364.80       365.35             0.55         6.75
IM-17-161        455.40       456.10             0.70        53.30
IM-17-161        546.75       547.30             0.55        95.50
IM-17-165        203.50       204.40             0.90         6.14
IM-17-165        208.50       209.25             0.75        34.30
IM-17-165        265.00       265.50             0.50        11.00
IM-17-166         67.00        68.00             1.00         6.19
IM-17-166         72.80        73.30             0.50        17.30
IM-17-166        157.40       164.10             6.70        12.23
including        159.00       159.70             0.70        31.90
and              159.70       160.50             0.80        40.90
and              163.10       164.10             1.00        12.70
IM-17-166        490.80       492.00             1.20        30.50
IM-17-166        499.50       502.10             2.60        38.07
including        499.50       500.10             0.60       106.50
and              500.80       501.30             0.50        67.10
IM-17-166        515.00       515.50             0.50        14.65
IM-17-166        528.80       529.30             0.50        22.10
IM-17-167         31.40        32.80             1.40        19.50
IM-17-167         82.00        82.50             0.50        17.20
IM-17-167        123.00       123.60             0.60        16.75
IM-17-167        265.30       266.40             1.10        19.05
IM-17-167        373.20       374.70             1.50         8.06
IM-17-167        393.20       394.00             0.80        10.20
IM-17-167        397.45       398.50             1.05         7.56
IM-17-168         78.50        84.22             5.72        16.05
including         80.50        81.80             1.30        55.50
and               83.00        84.22             1.22         9.80
IM-17-168        135.35       135.90             0.55        48.30
IM-17-169         33.15        33.85             0.70        17.30
IM-17-169         50.45        51.45             1.00        10.15
IM-17-169         81.70        83.00             1.30         7.84
IM-17-169        130.15       130.75             0.60        53.50
IM-17-169        222.50       229.00             6.50         7.00
including        223.20       224.00             0.80        18.55
and              224.00       225.00             1.00        10.55
and              225.00       226.05             1.05        10.25
and              228.50       229.00             0.50        13.85
IM-17-169        233.00       233.70             0.70        12.45
IM-17-169        248.35       250.60             2.25        10.91
including        249.25       250.10             0.85        24.20
IM-17-169        263.65       266.50             2.85        12.44
including        263.65       264.40             0.75        10.75
and              264.40       265.00             0.60        30.40
and              265.00       266.00             1.00         9.06
IM-17-169        343.80       350.45             6.65        19.58
including        343.80       344.40             0.60         9.22
and              344.40       345.35             0.95        16.35
and              347.55       348.30             0.75       102.50
and              348.30       349.80             1.50         6.82
and              349.80       350.45             0.65        33.50
IM-17-169        437.75       438.30             0.55        11.30
IM-17-169        540.05       541.00             0.95         8.42
IM-17-170         39.45        40.25             0.80        50.10
IM-17-170         46.50        47.20             0.70        15.05
IM-17-170         90.50        96.00             5.50        20.50
including         90.50        91.65             1.15        47.70
and               92.55        93.10             0.55        14.10
and               94.40        95.45             1.05        35.00
IM-17-170        123.20       123.90             0.70         8.39
IM-17-170        166.10       166.60             0.50         8.50
IM-17-170        216.00       219.75             3.75         8.42
including        217.05       218.10             1.05        24.40
IM-17-171        221.00       221.65             0.65        40.00
IM-17-172        130.10       132.20             2.10        24.20
including        130.10       131.20             1.10        36.70
and              131.20       132.20             1.00        10.45
IM-17-172        196.80       201.60             4.80        12.81
including        198.94       199.75             0.81        56.50
and              199.75       200.90             1.15         9.72
IM-17-172        208.55       212.00             3.45        12.56
including        208.55       210.00             1.45         7.40
and              210.00       211.00             1.00        17.50
and              211.00       212.00             1.00        15.10
IM-17-172        235.90       236.40             0.50        41.20
IM-17-172        416.60       417.10             0.50         9.98
IM-17-172        494.75       495.45             0.70        14.40
IM-17-173        118.45       122.45             4.00        35.20
including        119.45       120.95             1.50        23.60
and              120.95       122.45             1.50        68.20
IM-17-173        239.50       240.25             0.75        49.10
IM-17-173        283.40       284.25             0.85        10.30
IM-17-173        306.25       314.85             8.60        10.82
including        306.25       306.75             0.50        14.40
and              307.50       308.00             0.50        46.50
and              308.00       308.60             0.60        18.60
and              314.00       314.85             0.85        58.60
IM-17-173        345.85       346.50             0.65        11.00
IM-17-173        358.00       358.75             0.75        22.30
IM-17-173        369.25       369.90             0.65         8.17
IM-17-173        381.15       389.50             8.35         7.70
including        381.15       381.90             0.75        29.80
and              387.75       389.00             1.25        22.80
and              389.00       389.50             0.50        23.40

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.
 

We seek Safe Harbor.

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