Bralorne Gold Mines Ltd.: Development Shows 14.7 g/T Gold Over 13 Metres on BK-3 Zone
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/23/12 -- Bralorne Gold Mines Ltd. (TSX VENTURE: BPM)(OTCQX: BPMSF)(PINKSHEETS: BPMSF)(BERLIN: GV7)(FRANKFURT: GV7) (the 'Company') is pleased to provide the following update of activities at its Bralorne mine operation located near Gold Bridge, British Columbia.
BK-3 DEVELOPMENT
The main BK-3 decline was completed to the target (3,700 foot elevation) on December 12, intersecting the ore pass that was previously driven up from the 8th Level (3,435 elevation). From this point, drifting is being done east and west of the decline at 3,700 elevation to cross-cut the BK-3 gold zone.
An incline driven from the decline was completed to target on November 30 and cross-cut the BK-3 zone at 3,800 foot elevation. Multiple gold-bearing veins were exposed separated by mineralized wall rock. Channel sampling indicates an average grade of 14.72 grams gold per tonne (un-cut) over 13.3 metres, (0.43 ounce per ton gold over 43.7 feet). The average cut grade is 4.40 grams per tonne over 13.3 metres width (0.13 ounce per ton gold over 43.7 feet) with high assays reduced to 1.5 ounce gold per ton. Individual assays range up to 118 grams per tonne gold over 0.3 metres true width (3.45 ounce per ton gold over 1.0 feet). High gold values correspond to quartz veins containing visible gold. The results are for continuous horizontal channel samples collected across the zone, for which the sample widths closely represent true widths. The results are considered provisional pending the outcome of check assays. Sample results are provided in the table below.
Drifting is now underway east and west on the 3,800 level to explore the zone, centered along the main BK vein. The average grade of the vein is 286.3 grams gold per tonne (un-cut) over 0.5 metres (8.37 ounce per ton gold over 1.5 feet). The average cut grade is 43.6 grams per tonne over 0.5 metres width (1.27 ounce per ton gold over 1.5 feet) with high assays reduced to 1.5 ounce gold per ton. Individual assays range up to 533.1 grams per tonne gold over 0.2 metres true width (15.55 ounce per ton gold over 0.7 feet). High grade assays correspond to quartz veins containing visible gold. A total of 18 metres (60 feet) of strike length has been exposed to date.
Development muck from the BK-3 is being stockpiled at the portal. As of January 19, a total 750 tons had been stockpiled at an estimated grade of 18.9 grams per tonne gold (0.55 ounce gold per ton), with high assays cut to 1.5 ounce.
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BK-3 3800 Incline Channel Samples
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Gold Gold
Gold Gold g/T oz/ton
Length g/T oz/ton 51.4g 1.5 oz Assay
BK-3 Zone (feet) (m) Uncut Uncut Top Cut Top Cut Method
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East Wall
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Vein 0.8 0.2 52.69 1.54 51.43 1.5 Metallic
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Altered Rock 2.4 0.7 1.44 0.04 1.44 0.04 F.A
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Altered Rock 5.1 1.6 8.50 0.25 8.50 0.25 F.A
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Quartz Stringer Zone 5.1 1.6 2.40 0.07 2.40 0.07 F.A
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Quartz Stringer Zone 4.4 1.3 0.00 0.00 0.00 0.00 F.A
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Vein 0.7 0.2 80.43 2.35 51.43 1.50 Metallic
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Quartz Stringer Zone 3.8 1.2 1.17 0.03 1.17 0.03 F.A
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Quartz Stringer Zone 3.7 1.1 0.73 0.02 0.73 0.02 Metallic
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Quartz Stringer Zone 4.4 1.3 0.34 0.01 0.34 0.01 F.A
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Vein 1.6 0.5 15.08 0.44 15.08 0.44 Metallic
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Quartz Stringer Zone 1.2 0.4 1.10 0.03 1.10 0.03 F.A
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Quartz Stringer Zone 2.7 0.8 0.55 0.02 0.55 0.02 F.A
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Quartz Stringer Zone 2.6 0.8 1.10 0.03 1.10 0.03 F.A
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Quartz Stringer Zone 4.0 1.2 0.96 0.03 0.96 0.03 F.A
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Quartz Stringer Zone 1.8 0.5 1.44 0.04 1.44 0.04 F.A
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Quartz Stringer Zone 1.1 0.3 2.40 0.07 2.40 0.07 Metallic
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Vein 1.0 0.3 118.36 3.45 51.43 1.50 Metallic
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Total 46.4 14.1 22.86 0.67 5.07 0.15
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West Wall
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Vein 0.4 0.1 12.69 0.37 12.69 0.37 Metallic
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Quartz Stringer Zone 1.8 0.5 1.03 0.03 1.03 0.08 F.A
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Altered Rock 5.0 1.5 1.58 0.05 1.58 0.05 F.A
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Altered Rock 5.0 1.5 4.05 0.12 4.05 0.12 F.A
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Altered Rock 4.4 1.3 0.00 0.00 0.00 0.00 F.A
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Vein 0.4 0.1 47.61 1.39 47.61 1.39 Metallic
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Quartz Stringer Zone 4.3 1.3 0.62 0.02 0.62 0.02 F.A
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Quartz Stringer Zone 1.9 0.6 2.05 0.06 2.05 0.06 Metallic
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Altered Rock 6.6 2.0 0.21 0.01 0.21 0.01 F.A
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Vein 1.7 0.5 112.12 3.27 51.43 1.50 Metallic
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Quartz Stringer Zone 1.9 0.6 0.70 0.02 0.70 0.02 F.A
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Quartz Stringer Zone 1.7 0.5 1.23 0.04 1.23 0.04 F.A
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Quartz Stringer Zone 3.4 1.0 1.58 0.05 1.58 0.05 F.A
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Altered Rock 2.4 0.7 1.32 0.04 1.32 0.04 Metallic
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Total 40.9 12.5 6.47 0.19 3.95 0.12
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Average of 2 Walls: 43.7 13.3 14.72 0.43 4.40 0.13
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Channel samples and muck samples are routinely analyzed at the on-site assay laboratory which is run by the Company. Gold concentration in quartz veins was determined by the metallics fire assay method, and all other samples were analyzed by the fire assay method using a 1 assay ton sub-sample. Quality control for fire assays is monitored by inclusion of reference standards and blank samples at a frequency of 5% each. Check assays are routinely done at a commercial laboratory on selected samples.
MILLING
Milling operations continued testing the bulk sample of stockpiled material, producing both gravity and flotation concentrates. Total gold production at the end of December is estimated as 3,564 ounces based on provisional weights and assays received. Gold dore smelted from the gravity concentrate totaled 2,308 ounces and gold in flotation concentrate is estimated at 1196 ounces, with the balance of ounces being in-circuit inventory. The dore represents 65% of the recovered gold. At December 31, 15,327 dry tons had been milled at an average feed grade of 0.255 ounce per ton gold and a recovery of 91%. Mill availability for December averaged 32%; downtime resulted from a mechanical breakdown and the holidays shutdown.
The Company has contracted the sale of two container loads of concentrate to a trading firm, with shipment scheduled for late January. Discussions are also being held with other firms for sale of the balance of concentrate in inventory.
STOCKPILE
At the end of 2011, there was an estimated 3,311 tonnes grading 15.1 grams per tonne gold (0.44 ounce gold per ton) remaining in the mill stockpile, and 5,611 tonnes grading 8.5 grams per tonne gold (0.248 ounce gold per ton) remaining in broken inventory in the mine.
DIAMOND DRILLING
In 2011, the company drilled 30 holes from surface (5,153 metres) and 4 underground holes (821 metres). Surface drilling was suspended on November 4, 2011 for the winter, with the last hole (SB11-030) incomplete at 179 metres depth. Underground drilling resumed this month. Results for 2011 will be reported separately.
Dr. Matt Ball, P.Geo., Chief Operating Officer for the Company, is the Qualified Person who prepared the exploration information contained in this news release. Mr. Jasman Yee, P.Eng., Metallurgist, is the Qualified Person responsible for the mill results reported.
The Bralorne mine is located 150 air miles from Vancouver, BC. The Company is re-developing the former and very successful Bralorne, Pioneer and King gold mines. From 1928 to 1971, these three operations produced 4.15 million ounces of gold from 7.9 million tons of ore (equaling a grade of 0.53 ounces per ton). Bralorne, Pioneer and King represent the largest historic gold producers in the Canadian Cordillera. The Company remains well funded with no long-term or short-term debt.
For more information, please visit our website at: www.bralorne.com.
ON BEHALF OF THE BOARD
William Kocken, President & Chief Executive Officer
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither 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:
Bralorne Gold Mines Ltd.
William Kocken
President and Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
ir@bralorne.com
www.bralorne.com
