Bralorne Gold Drilling Intersects 5.14 g/t Gold Over 5.2 Metres on BK-3 Zone
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/29/12 -- 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 diamond drilling activities at its Bralorne mine operation located near Gold Bridge, British Columbia.
In 2011, 30 holes were drilled from surface (5,153 meters) and 4 holes were drilled underground (821 meters). Several highly significant intercepts were obtained and new vein structures were discovered, which warranted follow-up drilling and/or development. Significant results are discussed and listed in the table below.
The widest intercept was on the upper part of the BK-3 zone in drill hole SB11-28, which averaged 5.14 grams per tonne gold over 5.2 meters (2.7 meters true width) or 0.15 ounce per ton gold over 17.1 feet (8.8 feet true width). The highest grade result was 1,764 grams per tonne gold over 0.9 meters (re-assay of original 800.6 grams per tonne) or 51.5 ounces per ton gold over 3.1 feet (original 23.35 ounce gold per ton assay) in drill hole SB11-21 (as previously announced). This is a new find. The cored interval consists of a fault zone of quartz fragments with coarse visible gold. Holes 25 and 27 were drilled to follow-up this intercept and intersected the vein but assays were not significant. Visible gold was noted in two other holes, of which the intercept in Hole 23 is another new find. Assay results for the last two holes are pending.
Underground drilling in 2011 also targeted the BK and BK-North veins. The most significant result received was hole UB11-02 which intersected 226.0 grams per tonne gold over 0.4 meters (6.591 ounces per ton gold over 1.3 feet) on the BK North vein (previously announced). The BK North vein (BKN) lies approximately 150 feet north of and parallel to the BK vein, and is likely the zone intersected in the 2006 BK Zone discovery hole SB06-109b (1.1 foot vein of 11.781 ounce gold per ton and 1.2 foot of 7.203 ounce gold per ton).
All holes were drilled with NQ size core. The core was cut in half with a saw and half core samples were sent for analysis at Eco Tech Laboratory Ltd. at Kamloops, BC. Eco Tech applied a quality management system at this laboratory certified to meet the requirements of ISO9001:2008. EcoTech was acquired by the ALS Group in the fall of 2011, and all assays as of November, 2011 were analyzed at the ALS Minerals laboratory in North Vancouver, BC, which is also ISO certified. 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% for each. Duplicate analyses will be performed at a second commercial laboratory on selected samples.
To view 'Table of Significant Intercepts for Bralorne 2011 Drill Holes (February 15, 2012)' click on: http://media3.marketwire.com/docs/bpm.pdf
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.
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 & Chief Executive Officer
604-682-3701
604-682-3600 (FAX)
ir@bralorne.com
www.bralorne.com
