Barkerville Gold Mines Reports Significant Intercepts of 2012 Cow Mt. Twinned Diamond Drill Holes Including 12.4 meters (40.6 feet) of 11.10 g/T (0.324 oz/t) Gold Including 6.2 meters (20.3 feet) of 15.98 g/T (0.466 oz/t) Gold
Vancouver, BC -- Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company") reports significant intercepts from 14 twinned diamond drill holes completed on Cow Mountain in 2012. The twin drill holes were requested by Snowden Mining Industry Consultants Inc. as part of their review of the 43-101 Technical Report on Cow Mountain (the "Report") and were drilled between September 22 and October 14, 2012, totaling 2,759.4 meters (9,053.1 feet). Please see the news release dated November 30, 2012 for more detailed information.
Highlights (from Table 1) include:
CM12-01B
-7.5 m (24.6 feet) of 3.915 g/T (0.114 oz/t) gold between 13.0 and 20.5 meters (42.5 and 67.1 feet)
-including 2.9 meters (9.4 feet) of 6.382 g/T (0.186 oz/t) gold between 13.0 and 15.8 meters (42.5 and 51.9 feet)
CM12-01C
-12.4 m (40.6 feet) of 11.10 g/T (0.324 oz/t) gold between 8.4 and 20.7 meters (27.4 and 68.0 feet)
-including 6.2 meters (20.3 feet) of 15.98 g/T (0.466 oz/t) gold between 9.5 and 15.7 meters (31.2 and 51.5 feet)
-
?.including 2.9 meters (9.5 feet) of 31.28 g/T (0.912 oz/t) gold between 12.8 and 15.7 meters (42.0 and 51.5 feet)
-including 1.2 m (4.0 feet) of 16.38 g/T (0.478 oz/t) gold between 19.5 and 20.7 meters (64.0 and 68.0 feet)
CM12-01D
-2.9 m (9.4 feet) of 26.36 g/T (0.769 oz/t) gold between 14.8 and 17.7 meters (48.6 and 58.0 feet)
CM12-02
-4.5 m (14.6 feet) of 10.85 g/T (0.316 oz/t) gold between 334.4 and 338.8 meters (1,097.0 and 1,111.6 feet)
-including 1.8 meters (6.0 feet) of 14.26 g/T (0.416 oz/t) gold between 334.4 and 336.2 meters (1,097.0 and 1,103.0 feet)
-including 1.2 meters (4.1 feet) of 16.95 g/T (0.494 oz/t) gold between 337.6 and 338.8 meters (1,107.5 and 1,111.6 feet)
CM12-03
-1.0 m (3.2 feet) of 10.25 g/T (0.299 oz/t) gold between 135.6 and 136.6 meters (444.9 and 448.1 feet)
CM12-06
-3.0 m (10.0 feet) of 39.20 g/T (1.143 oz/t) gold between 35.4 and 38.4 meters (116.0 and 126.0 feet)
CM12-09B
-3.0 m (10.0 feet) of 31.51 g/T (0.919 oz/t) gold between 17.7 and 20.7 meters (58.0 and 68.0 feet)
CM12-09C
-0.8 m (2.6 feet) of 60.26 g/T (1.757 oz/t) gold between 114.9 and 115.7 meters (377.0 and 379.6 feet), and
-1.8 m (5.8 feet) of 20.05 g/T (0.585 oz/t) gold between 216.1 and 217.9 meters (709.0 and 714.8 feet)
The significant intercepts described above and in Table 1 may not be true widths. The true widths cannot be determined at this time due to there only being a single azimuth/dip drill hole per individual setup.
Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ-size drill core was cut in half using saws at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core was put in a sample bag and the other half replaced in the core box. After samples are placed in rice bags, they are transported by Company personnel to Quesnel, B.C. for trans-shipment to Acme Analytical Laboratories Ltd. in Vancouver for analysis. Sample preparation and geochemical assaying is done at Acme, following its own internal standards for quality control and verification. The gold assaying method uses both a standard fire assay with AA finish and a metallic gold assay. Acme is certified under the Assayers Certification Program of B.C.
The technical information in this news release has been reviewed and approved by the Company's Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
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|T ABLE 1: SIGNIFICANT INTERCEPTS OF 2012 TWINNED | | | | | |
|DRILL HOLES ON COW MT. | | | | | |
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| | | | | | |
| | | | | |
|------------------------------------------------------------|
|DDH# |FROM |TO |WIDTH |Au | | | | | |
| |---------------------------------------------------|
| |FEET |METER |g/T |oz/t | | | | | |
|------------------------------------------------------------|
|CM12-01A|19.9 |21.5 |1.6 |0.5 |1.800 |0.052 | | | | | |
| |---------------------------------------------------|
| |58.0 |67.0 |9.0 |2.7 |3.624*|0.106*| | | | | |
| |---------------------------------------------------|
| |93.2 |106.0 |12.8 |3.9 |3.280*|0.096*| | | | | |
|------------------------------------------------------------|
|CM12-01B|42.5 |67.1 |24.6 |7.5 |3.915*|0.114*| | | | | |
| |---------------------------------------------------|
| |including | | | | | |
| |---------------------------------------------------|
| |42.5 |51.9 |9.4 |2.9 |6.382*|0.186*| | | | | |
|------------------------------------------------------------|
|CM12-01C|27.4 |68.0 |40.6 |12.4 |11.10*|0.324*| | | | | |
| |---------------------------------------------------|
| |including | | | | | |
| |---------------------------------------------------|
| |31.2 |51.5 |20.3 |6.2 |15.98*|0.466*| | | | | |
| |---------------------------------------------------|
| |including | | | | | |
| |---------------------------------------------------|
| |42.0 |51.5 |9.5 |2.9 |31.28*|0.912*| | | | | |
| |---------------------------------------------------|
| |and including | | | | | |
| |---------------------------------------------------|
| |64.0 |68.0 |4.0 |1.2 |16.38 |0.478 | | | | | |
|------------------------------------------------------------|
|CM12-01D|17.6 |28.0 |10.4 |3.2 |1.638 |0.048 | | | | | |
| |---------------------------------------------------|
| |48.6 |58.0 |9.4 |2.9 |26.36*|0.769*| | | | | |
| |---------------------------------------------------|
| |177.7 |184.5 |6.8 |2.1 |2.066 |0.060 | | | | | |
| |---------------------------------------------------|
| |270.7 |278.0 |7.3 |2.2 |1.624*|0.047*| | | | | |
| |---------------------------------------------------|
| |297.6 |303.4 |5.8 |1.8 |1.688 |0.049 | | | | | |
| |---------------------------------------------------|
| |988.8 |992.0 |3.2 |1.0 |5.087 |0.148 | | | | | |
|------------------------------------------------------------|
|CM12-02 |305.5 |307.0 |1.5 |0.5 |15.22 |0.444 | | | | | |
| |---------------------------------------------------|
| |556.4 |568.6 |12.2 |3.7 |2.906*|0.085*| | | | | |
| |---------------------------------------------------|
| |575.0 |575.8 |0.8 |0.2 |2.441 |0.071 | | | | | |
| |---------------------------------------------------|
| |600.6 |601.5 |0.9 |0.3 |6.670 |0.195 | | | | | |
| |---------------------------------------------------|
| |725.9 |727.1 |1.2 |0.4 |1.911 |0.056 | | | | | |
| |---------------------------------------------------|
| |756.4 |758.3 |1.9 |0.6 |5.403 |0.158 | | | | | |
| |---------------------------------------------------|
| |788.1 |788.9 |0.8 |0.2 |1.259 |0.037 | | | | | |
| |---------------------------------------------------|
| |1067.0|1068.1|1.1 |0.3 |7.984 |0.233 | | | | | |
| |---------------------------------------------------|
| |1097.0|1111.6|14.6 |4.5 |10.85*|0.316*| | | | | |
| |---------------------------------------------------|
| |including | | | | | |
| |---------------------------------------------------|
| |1097.0|1103.0|6.0 |1.8 |14.26*|0.416*| | | | | |
| |---------------------------------------------------|
| |and including | | | | | |
| |---------------------------------------------------|
| |1107.5|1111.6|4.1 |1.2 |16.95*|0.494*| | | | | |
| |---------------------------------------------------|
| |1135.2|1140.5|5.3 |1.6 |1.403 |0.041 | | | | | |
| |---------------------------------------------------|
| |1154.9|1157.0|2.1 |0.6 |1.896 |0.055 | | | | | |
| |---------------------------------------------------|
| |1169.1|1169.8|0.7 |0.2 |49.09 |1.432 | | | | | |
| |---------------------------------------------------|
| |1228.1|1229.6|1.5 |0.5 |1.397 |0.041 | | | | | |
| |---------------------------------------------------|
| |1520.0|1523.6|3.6 |1.1 |2.910 |0.085 | | | | | |
|------------------------------------------------------------|
|CM12-03 |444.9 |448.1 |3.2 |1.0 |10.25 |0.299 | | | | | |
| |---------------------------------------------------|
| |1038.5|1040.9|2.4 |0.7 |4.106 |0.120 | | | | | |
|------------------------------------------------------------|
|CM12-04 |192.8 |208.8 |16.0 |4.9 |0.623*|0.018*| | | | | |
| |---------------------------------------------------|
| |209.9 |254.6 |44.7 |13.6 |0.408*|0.012*| | | | | |
|------------------------------------------------------------|
|CM12-05 |1275.3|1279.7|4.4 |1.3 |5.321 |0.155 | | | | | |
|------------------------------------------------------------|
|CM12-06 |116.0 |126.0 |10.0 |3.0 |39.20 |1.143 | | | | | |
| |---------------------------------------------------|
| |282.0 |282.9 |0.9 |0.3 |2.121 |0.062 | | | | | |
|------------------------------------------------------------|
|CM12-07 |338.0 |341.4 |3.4 |1.0 |4.356 |0.127 | | | | | |
| |---------------------------------------------------|
| |628.0 |633.0 |5.0 |1.5 |4.195 |0.122 | | | | | |
|------------------------------------------------------------|
|CM12-08 |64.1 |66.3 |2.2 |0.7 |2.874 |0.084 | | | | | |
| |---------------------------------------------------|
| |146.5 |147.3 |0.8 |0.2 |1.383 |0.040 | | | | | |
| |---------------------------------------------------|
| |176.8 |181.4 |4.6 |1.4 |1.187 |0.035 | | | | | |
|------------------------------------------------------------|
|CM12-09A|97.6 |103.6 |6.0 |1.8 |1.100 |0.032 | | | | | |
|------------------------------------------------------------|
|CM12-09B|58.0 |68.0 |10.0 |3.0 |31.51 |0.919 | | | | | |
| |---------------------------------------------------|
| |188.8 |198.0 |9.2 |2.8 |1.172 |0.034 | | | | | |
| |---------------------------------------------------|
| |268.0 |279.6 |11.6 |3.5 |3.346 |0.098 | | | | | |
|------------------------------------------------------------|
|CM12-09C|377.0 |379.6 |2.6 |0.8 |60.26 |1.757 | | | | | |
| |---------------------------------------------------|
| |709.0 |714.8 |5.8 |1.8 |20.05*|0.585*| | | | | |
| |---------------------------------------------------|
| |918.0 |922.6 |4.6 |1.4 |3.812 |0.111 | | | | | |
|------------------------------------------------------------|
|Note: Uncut & uncapped grades; * weighted
| | | | | |
|value | | | | | |
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"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
About Barkerville Gold Mines Ltd.
Since the mid-1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures cover 1,164 km2 along a strike length of 60 km and approximate width of 20 km, including the Cariboo Gold Project, the Bonanza Ledge Gold Project, the Barkerville Mountain and Island Mountain exploration targets and seven past producing hard rock mines. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 km by highway and all-weather road from the Barkerville Gold Camp. The Company began pouring dore gold in September 2010, continued until December 2011, and resumed in January 2013. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. The Company has completed significant drilling and exploration programs and, together with the historical data, is compiling all information to determine the geologic models and updated technical reports to continue with exploration and development of the Cariboo Gold projects. This news release has been prepared on behalf of the Board of Directors of the Company which takes full responsibility for its contents.
Cautionary Statement on Forward-Looking Information
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, including the listing and trading of the Company's common shares on the TSXV. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward- looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, to obtain capital and credit and to protect its property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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