Barkerville Gold Mines Reports Remaining 2011 Drill Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/21/12 -- Barkerville Gold Mines Ltd. (TSX VENTURE: BGM)(FRANKFURT: IWUB) (the "Company") reports results from the remaining drill holes completed in 2011. These results are part of the 57,742 metre 2011 drill program focusing on Cow Mountain and Barkerville Mountain.
Jack Miller, Acting CEO, comments, "The significant gold intercepts in multiple areas within our large land package are very encouraging. The next step will be updated resource estimates. All of the 2011 results along with historical information are being reviewed to help define future development exploration programs for the area."
Significant diamond drill hole intercepts received from the remaining holes completed in 2011 are given in Tables 1, 2 and 3 while highlights are given below.
Drilling in this area targeted potential mineralized areas in and around the existing historical Gold Quartz resource estimate issued in 2006 on Cow Mountain. Highlights from the remaining 51 of 167 holes completed in 2011 are given below (see Table 1 for a more detailed list of significant intercepts).
Drilling in this area predominately targeted a section of the BC Vein located between the Bonanza Ledge gold deposit and the Goldfinch Fault zone on Barkerville Mountain. Highlights from the remaining 6 of 29 holes completed in 2011 are given below (see Table 2 for a more detailed list of significant intercepts).
The BC Vein has been identified by drilling over a strike length of 2.2 km, varying in depth up to 293 metres and in thickness up to 36 metres. Since 1999, 230 drill holes have been completed on and around the BC Vein.
These holes were drilled as part of the water monitoring program for the Cow Mountain and Barkerville Mountain areas. They are away from any existing resource estimates. As a routine check, all holes are logged and assayed if the rock looks interesting. Highlights from the remaining 22 holes completed in 2011 are given below (see Table 3 for a more detailed list of significant intercepts).
Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ & NQ2-size drill core was cut/split in two halves using saws or a splitter at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core is put in a plastic sample bag and the remaining half is returned to the core box. A number of these plastic sample bags are placed in the rice bags at the mine site until the rice bags weighs approximately 10 kilograms. The rice bags are transported by BGM's personnel to a shipping company in Quesnel for trans-shipment to ALS Minerals in North Vancouver or Inspectorate Exploration & Services Ltd. in Richmond, B.C. for analysis. Sample preparation and geochemical assaying is done at each lab, following their own internal standards for quality control and verification. The gold assaying method uses a standard fire assay with AA finish and a metallic gold assay for those samples with visible gold. Both ALS and Inspectorate are certified under the Assayers Certification Program of B.C.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. In November 2010, the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. On December 5, 2011 the Company received under the British Columbia Mines Act, their Mine Permit approving the Mine Plan and Reclamation Program for Bonanza Ledge. The Company has completed significant drilling and exploration programs and together with the historical data is compiling all information to determine geologic models and update mineral resource estimates to continue with exploration and development of the Cariboo Gold Projects.
Table 1. COW MOUNTAIN - SIGNIFICANT INTERCEPTS (values greater than = 1 g/T)
Assay results of 167 drill holes (141,151.2 feet) were reviewed for this table. A total of 51 holes had significant intercepts. These are the last holes to be assayed from the 2011 drill campaign.
Table 2. BARKERVILLE MOUNTAIN - SIGNIFICANT INTERCEPTS (values greater than = 1 g/T)
Assay results of 29 drill holes (30,460.8 feet) reviewed for this table. A total of six holes had significant intercepts. These are the last holes to be assayed from the 2011 drill campaign.
Table 3. WATER MONITORING HOLES - SIGNIFICANT INTERCEPTS (values greater than = 1 g/T)
Assay results of 22 drill holes (11,594.0 feet) were reviewed for this table. These are the last holes to be assayed from the 2011 drill campaign.
On behalf of the Board of Directors
Jack Miller, Acting CEO
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Barkerville Gold Mines Ltd.
Andrew H. Rees
Director
604-669-6463 or Toll Free: 1-800 663-9688
604-669-3041 (FAX)
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Datum: 21.03.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 126982
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