Bralorne Gold Mines Intercepts 93.4 g/t Gold Over 71.9 Metres on BK-3 Sublevel
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/05/12 -- Bralorne Gold Mines Ltd. (the 'Company') (TSX VENTURE: BPM)(OTCQX: BPMSF)(FRANKFURT: GV7)(PINKSHEETS: BPMSF)(BERLIN: GV7) is pleased to provide the following updates regarding on-going activities at the Company's Bralorne mine operation located near Gold Bridge, British Columbia.
BK-3 DEVELOPMENT
Development to date at the new BK-3 Zone has exposed a total of 71.9 meters (236 feet) of strike length. Over this distance, the average grade of the vein is 93.4 grams per tonne gold (un-cut) over 0.7 metres true thickness (2.71 ounces per ton gold over 2.2 feet). The average cut grade is 27.1 grams per tonne gold over 0.7 metres width (0.788 ounces per ton gold over 2.2 feet) with a high assay of 1.5 ounce per ton of gold. Individual assays containing visible gold range up to 658.4 grams per tonne gold over 0.4 metres true thickness (19.2 ounce per ton gold over 1.2 feet). Assays are consistently multi-ounce over the eastern 30 meters (100 feet) of the vein (see table below).
The BK-3 zone is being developed to prove up the resource. Drifting is underway to explore the main vein east and west of the cross-cut along the 3800 (elevation) sub-level, which is centered on the main vein and does not represent the entire width of the zone. Channel sampling in the 3800 incline returned excellent grades over large widths. Subsequent to the news release dated January 23, 2012 and following receipt of additional results, the weighted average grade has been re-calculated. Accordingly, the revised average grade over the entire width of the BK-3 zone at the cross-cut is 6.58 grams per tonne gold (un-cut) over 12.7 metres (0.19 ounces per ton gold over 41.8 feet). The average cut grade is 4.28 grams per tonne gold over 12.7 metres width (0.12 ounces per ton gold over 41.8 feet) with a high assay reduced to 1.5 ounce gold per ton. Individual assays containing visible gold assay up to 3.45 ounces over 1 foot.
Gold assays for mine samples are routinely done at the on-site assay laboratory operated by the Company. Gold concentration in quartz veins was determined by the metallics fire assay procedure, and all other samples were analyzed by the standard 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 done at a commercial laboratory routinely on selected samples.
MILLING
Milling operations continued processing stockpiled material and producing both gravity and flotation concentrates. Total gold production since start-up in April 2011 to the end of January 2012 is estimated at 4,050 ounces. Gold dore smelted from the gravity concentrate totaled 2,639 ounces and gold in flotation concentrate is estimated at 1,351 ounces, with the balance of ounces being in-circuit inventory. The dore represents 66% of the recovered gold. As of January 31, 2012, 16,803 dry tons had been milled at an average feed grade of 0.264 ounce per ton gold and a recovery of 91%. Mill availability for January averaged 65%. Downtime stemmed from freezing water lines and from the holiday shutdown.
The Company has shipped two container loads of flotation concentrate weighing 50.6 dry tonnes to China for further processing and recovery of gold. Gold grade of the shipped concentrate averaged 143.41 grams per tonne. Discussions are continuing with the Company's first buyer and other firms for the sale of concentrate production.
STOCKPILE
As of January 31, 2012, there was an estimated 3,971 tonnes grading 15.2 grams per tonne gold (0.44 ounce gold per ton) remaining in the mill stockpile, and 4,949 tonnes grading 6.7 grams per tonne gold (0.196 ounce gold per ton) remaining in broken inventory in the mine.
Vein assay results for BK-3 3800 sublevel (Feb 25, 2012)
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Au Au
True Horizontal Au g/t Au oz/t
Thickness Width g/t Cut oz/t Cut Visible
(m) (m) Uncut 51.4g Uncut 1.5oz Gold
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1.5 1.7 6.47 6.47 0.189 0.189
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0.7 0.7 17.58 17.58 0.513 0.513 Yes
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1.9 2.1 8.85 8.85 0.258 0.258
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1.6 1.8 47.73 47.73 1.392 1.392
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0.7 0.8 20.85 20.85 0.610 0.608 Yes
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0.6 0.6 374.50 51.43 10.920 1.500 Yes
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1.0 1.2 254.80 51.43 7.430 1.500 Yes
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1.6 1.8 76.97 51.43 2.254 1.500
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0.5 0.5 112.12 51.43 3.270 1.500
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0.4 0.4 15.08 15.08 0.440 0.400
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0.4 0.4 658.36 51.43 19.200 1.500
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0.6 0.6 533.12 51.43 15.550 1.500
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0.3 0.4 504.73 51.43 14.720 1.500 Yes
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0.2 0.3 229.35 51.43 6.690 1.500 Yes
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0.1 0.1 2.53 2.53 0.070 0.100
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0.2 0.2 79.07 51.43 2.310 1.500
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0.3 0.3 100.03 51.43 2.920 1.500 Yes
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0.2 0.2 15.22 15.22 0.440 0.400
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0.1 0.2 0.61 0.61 0.020 0.000
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0.2 0.2 23.67 23.67 0.690 0.700
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0.4 0.5 2.82 2.82 0.080 0.100
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0.5 0.6 3.74 3.74 0.110 0.100
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0.4 0.4 2.04 2.04 0.060 0.100
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0.2 0.3 4.58 4.58 0.133 0.133
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1.0 1.1 14.00 14.00 0.410 0.410
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0.9 1.0 12.08 12.08 0.351 0.351
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1.2 1.3 11.01 11.01 0.321 0.321
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0.7 0.7 93.40 27.10 2.709 0.789
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DIAMOND DRILLING
Underground drilling resumed in 2012 targeting the BK-North vein. As of the end of January, 2 holes were completed for a total of 251 meters. Assay Results will be reported separately upon receipt.
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 & Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
ir@bralorne.com
www.bralorne.com
