Barkerville Gold Mines (TSX-V:BGM, StockForum), a Vancouver-based firm engaged in the production and sale of gold, and the exploration, development, and acquisition of mineral properties in British Columbia, announced today that the company had commenced operations at its Bonanza Ledge Mine located near Wells, British Columbia.
According to the news release, “The first production blast was achieved Mar. 12, 2014, and approximately 70,000 m3 of NAG (non acid generating) waste has been trucked to the waste dump to date.”
It went on to explain, “Waste rock mining for pit development will continue, with the first ore rounds expected within a week. Ongoing geological mapping and sampling will be used to better define the ore limits as the pit develops.”
Then added, “Site access roads have been maintained over the winter by the Company and prime contractor RokTek Services Inc. started pit area snow removal and overburden stripping on Feb. 05, 2014.”
Company president and CEO, J. Frank Callaghan, commented, “The commencement of Bonanza Ledge mining operations signifies a great day for the mining industry in B.C. and couldn't have been achieved without our partners in government and stakeholders within the surrounding communities.”
He then concluded, “The Company is excited to bring the Bonanza Ledge Mine into production as it will be a positive economic driver within a rural area in the province of British Columbia.”
Barkerville Gold Mines was in the news recently when the company closed the initial tranche of its private placement offering.
Shares were down 1.82% on the news to $0.54 per share.
Currently there are 109.9m outstanding shares with a market cap of $59.3 million.