Barkerville Gold Mines (TSXV:BGM) (Frankfurt:1WUB) Begins Preparations for Mining and Milling Operations at the Bonanza Ledge Mine and QR Mill - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, June 22, 2012 - Barkerville Gold Mines (TSXV:BGM)
(Frankfurt:1WUB) begins preparations for mining and milling operations at the
Bonanza Ledge Mine and QR Mill.
InvestmentPitch.com has produced a "video news alert" based on this information.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"Barkerville" in the search box.
The company has been active in this area since the mid-1990s, and now has a
project covering approximately 118,000 hectares, encompassing seven past
producing hard rock mines and three NI 43-101 gold deposits, including the QR
Mine and Mill.
The latest news involves the Bonanza Ledge Mine, where in December 2011, the
company received final issuance of a Mines Permit Act to develop the Bonanza
Ledge open pit gold mine, and since that time has been awaiting environmental
approvals to mill the ore at the QR Mill facility. The QR Property was acquired
in February 2010 and includes a 900 tonne per day gold milling facility and a
permitted gold mine. It is located approximately 110 kilometres by highway and
all-weather road from the Barkerville Gold Camp.
Mining operations commenced at QR in the first quarter of fiscal 2011 and
Barkerville began pouring doré gold in September 2010 and continued until
December 2011.
On June12th, an amended permit under the provisions of the Environmental
Management Act, approved dewatering of the Main Zone Pit to accommodate tailings
from processing Bonanza Ledge ore and ore from the Dome Mountain Mine near
Smithers, which the company may process using its QR Mill as a toll mill. On
June 14th, the company received permission under its earlier Mines Act Permit M-
198, allowing it to custom mill up to 300,000 tonnes of ore from its Bonanza
Ledge Mine and up to 300,000 tonnes of ore from the Dome Mountain Mine, as well
as the disposal of associated mine tailings in the QR Main Zone Pit.
Back on May 1st, the company had previously received approval, in draft form,
under the Environmental Management Act to permit effluent discharge associate
with active mining.
Although finalization of these last two permits is anticipated to take several
weeks, Barkerville anticipates that it will commence the dewatering of the Main
Zone to accommodate the start-up of mining at the Bonanza Ledge shortly.
The Bonanza Ledge open pit site has been logged and grubbed in preparation for
mining and an agreement has been reached with forestry operators to utilize the
500 Forest Service Road to access the QR Mine. A B.C. Hydro power line upgrade
to the QR Mine is currently underway, with completion expected by the end of the
month, at which time the company anticipates re-commencing mining operations for
additional gold production from existing reserves at the QR Mine.
Frank Callaghan, Barkerville's President and CEO stated, "The Bonanza Ledge
deposit was discovered in March, 2000 with the gold price at US$285 per ounce
through a drilling campaign during a distressed resource market. Management
believes these current developments signify a great day for the mining industry
in B.C. and has maintained a strong belief that with its partners in government
and stakeholders within the surrounding communities, the Bonanza Ledge Mine
would begin commercial production and be a positive economic driver within a
rural area in the Province of British Columbia."
Barkerville is currently trading at $0.60 and with 106 million shares
outstanding, is capitalized at approximately $64 million.
For a more information, please visit Barkerville's website at
www.barkervillegold.com, phone 604-669-6463 or email info(at)barkervillegold.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
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reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 22.06.2012 - 22:14 Uhr
Sprache: Deutsch
News-ID 159260
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