VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2012) -Bralorne Gold Mines Ltd. ("Bralorne" or "the Company") (TSX VENTURE:BPM)(OTCQX:BPMSF)(FRANKFURT:GV7) is pleased to provide the following update of activities at its Bralorne mining operation located near Gold Bridge, British Columbia, the site where the Company is exploring and developing a new gold mining operation.
The 2012 underground drill program is focused on the under-explored BK gap area located between the historic Bralorne and King mines, which together these two of the three historic mines produced nearly three million ounces of gold from 1928 to 1971.
The 2012 underground drill program has completed a total of 15 holes (1,935 m) to date. The main objective of the program is to test for extensions of high grade gold mineralization previously discovered in the BK-3 Zone, where underground drifting previously reported results of 68.7 grams gold per tonne (un-cut) over 0.8 metres (true thickness) along a 160 metre strike length (See news release dated June 18, 2012).
The most recent hole UB12-015 intersected a quartz vein interval that contains several grains of visible gold and assayed 385.57 grams gold per tonne (uncut) over 1.2 metres. This intercept is located just west of the underground development currently underway on the BK-3 zone and will be investigated by sub-level drifting in the coming months.
Significant diamond drill intercepts include:
"These new results give further credibility to the potential of the BK structure and the BK gap area. These are exceptional gold grades, discovered within 200 meters of BC's most successful historic gold mine; and they are accessible from the new workings currently being developed," commented Company President and COO, Dr. Matt Ball.
The Company also recently commenced surface exploration drilling in the Bralorne-Pioneer gap area after receiving its permit.
QUALITY ASSURANCE - QUALITY CONTROL (QA/QC)
Thorough QA/QC protocols are followed on the project by monitoring the results of blank and standard samples inserted at a frequency of 1 in 20 each and re-analysis of check samples at a second laboratory.
Drill core samples are submitted for preparation and analysis directly to either ALS Laboratory Group in North Vancouver or SGS Laboratory in Vancouver, both of which are ISO certified. Analysis is conducted on 1 assay-ton aliquots using the fire assay method with a gravimetric finish. Metallic sieve assays are done on all mineralized quartz samples. The project is under the technical supervision of Dr. Matt Ball, P. Geo., President and Chief Operating Officer of the company and qualified person ("QP") as defined by National Instrument 43-101, who has reviewed the technical content of this release.
THE PROJECT
The Bralorne gold project is located in southwestern British Columbia, Canada, about 150 air miles northwest of Vancouver. It is situated in the heart of the Bridge River gold district where placer gold mining in the late 1800's led to major hard rock gold mining that lasted continuously more than 40 years until 1972. The historic mines at Bralorne produced 4.1 million ounces of gold and were extensive. Over 30 gold-quartz veins were developed on 45 levels extending over 2000 metres from surface, with 80 kilometers of tunnels in three separate mines serviced by four shafts. The geology is similar to that of world-class vein-type gold deposits in the Timmins and Yellowknife camps in Canada, and the Kalgoorlie district in Australia, hence the ultimate potential of the area is exciting. The 77 Vein at Bralorne provides an example since it was a record maker with over a million ounces of gold produced from near continuous mining over a vertical extent of 1400 m. This vein was still going strong at the bottom of the mine prior to closure in 1971 when the mine was forced to shut down due to a gold price of only $32 per ounce. The Pioneer mine was also a great producer. Spectacular high-grade samples from the Pioneer mine are still displayed at the Royal Ontario Museum.
COMPANY PROFILE
Bralorne Gold Mines Ltd. started building a new mining operation when gold prices rose above $800 per ounce in 2007, and is currently operating at 100 tons per day. The project is focused on exploring and developing areas between the historic King, Bralorne and Pioneer mines. The currently targeted areas between the old mines were claim gaps that were not explored during the life of the historic mines but are now part of the 2,500 hectare property. Since start-up in May of 2011, an estimated 7,642 ounces of gold have been produced from 28,800 tonnes at an average head grade of 9.12 grams gold per tonne. The Company is continuing to explore and mine, and plans to increase production in stages over the coming years, with an ultimate goal of 500 tonnes per day. The Company has no debt and 28 million shares outstanding and no debt.
For more information, please visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
William Kocken, Chief Executive Officer