Bralorne Gold Mines (TSXV:BPM) Releases Latest Results from Mine Operation in British Columbia - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, August 23, 2011 - Bralorne Gold Mines (TSXV:BPM)
has released the latest results from its Bralorne Mine operation in British
Columbia, Canada.
InvestmentPitch.com has produced a "video news alert" about Bralorne Gold Mines.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"Bralorne" in the search box.
Bralorne Gold Mine Highlights
The company's Bralorne property, located only 150 air miles from Vancouver,
contains the historic Bralorne, Pioneer and King mines, which between 1928 and
1971 produced 4.15 million ounces of gold from 7.9 million tons of ore. At
today's prices that's worth more the $7 billion.
Two multi-ounce intercepts were announced today, from the BK North vein, where
drill hole SB11-001 intersected 2.72 ounces of gold per ton over 2.0 feet, and
hole UB11-001 intersected 6.59 ounces of gold per ton over 0.9 feet. This BK
North structure is a newly recognized vein that lies approximately 150 feet
north of, and parallel to, the BK vein.
To date, a total of 15 holes have been completed for a total of 5,725 feet of
core, all targeted at the BK vein. Thirteen holes were drilled from
surface, nine of which intersected the extension of the BK3 zone, above the
targeted area for the decline. The underground drill program will now be shifted
to focus on the BK North vein, to in-fill between the widely separated
intercepts.
Back on May 27(th), Bralorne celebrated its grand re-opening by pouring the
first gold brick. Assays indicate the dore bar contained 254 ounces of gold and
59 ounces of silver, which is worth approximately $480,000 today.
Milling operations continued testing the bulk sample of stockpiled material,
producing both gravity and flotation concentrates. Total year to date gold
produced to the end of July was 1,564 ounces. The company is progressing towards
an agreement for the sale of the floatation concentrate and is evaluating
alternatives for shipping this material.
Recent discoveries between the Bralorne and King mines have opened up
significant new mineralization, and the company is now focused on expanding new
zones and continuously stockpiling reserves for the 100 ton per day gold mill.
The current Bralorne mill is permitted to operate at a capacity of 500 tons per
day, so there is ample room for expansion.
The shares currently trade at $1.10, and with close to 28 million shares
outstanding, is capitalized at approximately $31 million. The company is well
funded, having closed a private placement 4,070,000 units at $1.30, raising $5.2
million in March.
For a more information on Bralorne Gold Mines, please visit their website at
www.bralorne.com, phone 604-682-3701 or email ir(at)bralorne.com
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CONTACT:
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Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 23.08.2011 - 16:51 Uhr
Sprache: Deutsch
News-ID 58476
Anzahl Zeichen: 3949
contact information:
Kategorie:
Business News
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