Barkerville drills 10.75 m of 10.85 g/t Au at Valley
2017-05-03 08:19 ET - News Release
Mr. Chris Lodder reports
BGM INTERSECTS 10.85 G/T AU OVER 10.75 METRES AT VALLEY ZONE
Barkerville Gold Mines Ltd. has provided additional drilling results from the continuing 130,000-metre phase II Island Mountain exploration drilling program at the company's flagship Cariboo gold project. The Company is currently exploring and delineating the Valley Zone with four drill rigs. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.
New Veining Intersected at Valley Zone
Located in the low-lying area between Island and Cow Mountains, drillhole CM-17-011 intersected new veining grading 10.85 g/t Au over 10.75 metres only 70 metres vertically below surface. On the same drill section, drillhole CM-17-013 intersected veining grading 7.96 g/t Au over 5.80 metres and a second wider vein stockwork grading 6.41 g/t Au over 16.75 metres. The latter intersections are situated 50 and 75 metres below CM-17-011 respectively. Further downhole at a vertical depth of 250 metres below surface, CM-17-013 intersected another veining stockwork averaging 6.57 g/t Au over 14.60 metres.
Drillhole CM-17-014 also intersected numerous vein swarms, most notably 11.98 g/t Au over 4.35 metres, 350 metres below surface in the deepest portion of the Shaft Zone. Apart from previously reported drillhole CM-17-012 which intersected 6.62 g/t Au over 5.85 metres, no other drilling later than 1960 occurs in this area and as such is open for expansion in all directions. The deepest intersection to date on the Cariboo Gold Project (CM-17-014), is now 160 metres below the deepest levels of the former Aurum Mine at a vertical depth of 540 metres below surface grading 16.70 g/t Au over 0.95 metres.
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. Four drill rigs are currently delineating 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 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.
Table 1: Length weighted gold composites for Valley Zone drillholes: Core From To length Au Hole ID (m) (m) (m) (g/t) Area CM-17-011 95.00 105.75 10.75 10.85 VALLEY INCL 95.00 95.50 0.50 14.55 VALLEY AND 98.00 98.50 0.50 22.00 VALLEY AND 98.50 99.00 0.50 54.60 VALLEY AND 99.50 100.00 0.50 14.35 VALLEY AND 100.00 101.00 1.00 7.92 VALLEY AND 105.00 105.75 0.75 67.50 VALLEY CM-17-013 85.50 86.20 0.70 14.95 VALLEY CM-17-013 96.00 96.50 0.50 18.25 VALLEY CM-17-013 101.30 101.80 0.50 24.90 VALLEY CM-17-013 133.00 138.80 5.80 7.69 VALLEY INCL 134.85 136.00 1.15 15.00 VALLEY AND 136.00 137.00 1.00 8.35 VALLEY AND 137.00 138.00 1.00 13.20 VALLEY CM-17-013 156.35 173.10 16.75 6.41 VALLEY INCL 159.20 160.10 0.90 9.12 VALLEY AND 161.60 162.30 0.70 31.30 VALLEY AND 163.80 165.00 1.20 29.50 VALLEY AND 169.20 170.40 1.20 9.29 VALLEY CM-17-013 184.90 185.40 0.50 6.16 VALLEY CM-17-013 277.80 292.40 14.60 6.57 VALLEY INCL 281.90 287.90 6.00 11.98 VALLEY INCL 283.90 284.90 1.00 14.40 VALLEY AND 285.90 286.90 1.00 26.60 VALLEY AND 286.90 287.40 0.50 27.80 VALLEY CM-17-014 88.00 88.50 0.50 5.05 VALLEY CM-17-014 111.50 112.50 1.00 5.22 VALLEY CM-17-014 316.00 317.00 1.00 6.91 VALLEY CM-17-014 344.40 346.20 1.80 8.79 VALLEY INCL 344.40 345.30 0.90 11.90 VALLEY CM-17-014 430.05 434.40 4.35 11.98 VALLEY INCL 432.00 432.50 0.50 31.50 VALLEY AND 433.00 433.50 0.50 11.20 VALLEY AND 433.50 434.40 0.90 24.50 VALLEY CM-17-014 524.65 525.35 0.70 9.54 VALLEY CM-17-014 536.50 537.35 0.85 7.34 VALLEY CM-17-014 646.10 647.05 0.95 16.70 VALLEY CM-17-015 84.00 86.00 2.00 25.21 VALLEY INCL 84.50 86.00 1.50 33.40 VALLEY CM-17-015 245.60 246.15 0.55 19.10 VALLEY CM-17-015 279.70 280.60 0.90 10.15 VALLEY