Barkerville Gold Mines Reports Whole Hole Fire Assay Results of Fifteen Diamond Drill Holes Conducted on Island Mountain in 2005
Vancouver, BC / TNW-ACCESSWIRE / November 4 2014 / Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company") announced today, results from complete whole hole fire assays of fifteen diamond drill holes conducted on Island Mountain in 2005.
Infill core sampling of diamond drill holes conducted on Island Mountain in 2005 was completed in April, 2014. The infill core samples were collected for 50 gram lead collection/gravimetric fire assaying of gold. Meanwhile, all available reject samples from drill core that was originally analyzed in 2005 with standard fire assays from those same holes have been sent for 1,000 g metallic screen fire assay.
Fire assay results of the fifteen diamond drill holes have been received and significant intercepts are listed in Table 1. Highlights include:
IGM05-01
-
-5.5 meters (18.2 feet) of 2.03 g/T (0.059 oz/t) gold between 91.4 and 96.9 meters (299.8 and 318.0 feet)
IGM05-02
-
-6.1 meters (20.0 feet) of 6.95 g/T (0.203 oz/t) gold between 66.4 and 72.5 meters (218.0 and 238.0 feet)
-
o.including 1.5 meters (5.0 feet) of 16.0 g/T (0.467 oz/t) gold between 69.5 and 71.0 meters (228.0 and 233.0 feet)
IGM05-05
-
-2.8 meters (9.3 feet) of 13.7 g/T (0.400 oz/t) gold between 57.0 and 59.8 meters (187.0 and 196.3 feet)
IGM05-10
-
-3.3 meters (10.9 feet) of 8.85 g/T (0.258 oz/t) gold between 34.8 and 38.1 meters (114.1 and 125.0 feet)
-6.1 meters (20.0 feet) of 5.92 g/T (0.173 oz/t) gold between 41.8 and 47.9 meters (137.0 and 157.0 feet)
-1.3 meters (4.2 feet) of 7.68 g/T (0.224 oz/t) gold between 90.8 and 92.1 meters (297.8 and 302.0 feet)
-4.0 meters (13.2 feet) of 7.36 g/T (0.215 oz/t) gold between 96.6 and 100.6 meters (317.0 and 330.2 feet)
IGM05-15
-
-3.7 meters (12.1 feet) of 14.3 g/T (0.418 oz/t) gold between 33.7 and 37.3 meters (110.4 and 122.5 feet)
-4.1 meters (13.4 feet) of 3.42 g/T (0.100 oz/t) gold between 40.4 and 44.5 meters (132.6 and 146.0 feet)
Table 1. Significant Intercepts of the Whole Hole Assays of 2005 Diamond Drill Program Conducted on Island Mountain
--------------------------------------------------------------------------------
|DDH# |AZIMUTH|DIP |EOH |FROM |TO |WIDTH |Au
|
| |(Mine | |(ft) | | | |
|
| |Grid) | | | | | |
|
| | | |
|-------------------------------------------------|
| | | | |FEET |METER|FEET |METER|FEET|METER|g/T
|oz/t |
|------------------------------------------------------------------------------|
|IGM05-01|264.0 |-43.0|348.0|108.0|32.9 |109.5|33.4 |1.5 |0.5 |1.74
|0.051 |
| | | |
|-------------------------------------------------|
| | | | |219.2|66.8 |221.0|67.4 |1.8 |0.5 |1.47
|0.043 |
| | | |
|-------------------------------------------------|
| | | | |278.0|84.7 |288.0|87.8 |10.0|3.0 |1.39
|0.041 |
| | | |
|-------------------------------------------------|
| | | | |299.8|91.4 |318.0|96.9 |18.2|5.5
|2.03* |0.059* |
|------------------------------------------------------------------------------|
|IGM05-02|269.0 |-45.0|348.0|218.0|66.4 |238.0|72.5 |20.0|6.1
|6.95* |0.203* |
| | | |
|-------------------------------------------------|
| | | | |including
|
| | | |
|-------------------------------------------------|
| | | | |228.0|69.5 |233.0|71.0 |5.0 |1.5 |16.0
|0.467 |
|------------------------------------------------------------------------------|
|IGM05-03|192.0 |-45.0|463.0|No Significant (>&= 1.0 g/T Au)
Assay |
|------------------------------------------------------------------------------|
|IGM05-04|269.0 |-54.0|348.0|310.5|94.6 |312.5|95.3 |2.0 |0.6 |2.92
|0.085 |
|------------------------------------------------------------------------------|
|IGM05-05|269.0 |-54.0|348.0|137.0|41.8 |148.0|45.1 |11.0|3.4
|3.74* |0.109* |
| | | |
|-------------------------------------------------|
| | | | |187.0|57.0 |196.3|59.8 |9.3 |2.8 |13.7
|0.400 |
|------------------------------------------------------------------------------|
|IGM05-06|175.0 |-44.0|736.0|No Significant (>&= 1.0 g/T Au)
Assay |
|------------------------------------------------------------------------------|
|IGM05-07|270.0 |-46.0|347.0|No Significant (>&= 1.0 g/T Au)
Assay |
|------------------------------------------------------------------------------|
|IGM05-08|263.0 |-48.0|347.0|341.0|103.9|345.4|105.3|4.4 |1.3 |2.66
|0.078 |
|------------------------------------------------------------------------------|
|IGM05-09|262.0 |-46.0|346.0|No Significant (>&= 1.0 g/T Au)
Assay |
|------------------------------------------------------------------------------|
|IGM05-10|268.0 |-45.0|347.0|109.3|33.3 |111.4|34.0 |2.1 |0.6 |4.43
|0.129 |
| | | |
|-------------------------------------------------|
| | | | |114.1|34.8 |125.0|38.1 |10.9|3.3 |8.85
|0.258 |
| | | |
|-------------------------------------------------|
| | | | |137.0|41.8 |157.0|47.9 |20.0|6.1
|5.92* |0.173* |
| | | |
|-------------------------------------------------|
| | | | |297.8|90.8 |302.0|92.1 |4.2 |1.3
|7.68* |0.224* |
| | | |
|-------------------------------------------------|
| | | | |317.0|96.6 |330.2|100.6|13.2|4.0
|7.36* |0.215* |
|------------------------------------------------------------------------------|
|IGM05-11|166.0 |-46.0|705.0|No Significant (>&= 1.0 g/T Au)
Assay |
|------------------------------------------------------------------------------|
|IGM05-12|175.0 |-45.0|646.0|76.0 |23.2 |84.7 |25.8 |8.7 |2.7 |1.95
|0.057 |
|------------------------------------------------------------------------------|
|IGM05-13|175.0 |-45.0|306.0|31.0 |9.4 |33.7 |10.3 |2.7 |0.8
|4.58**|0.134**|
|------------------------------------------------------------------------------|
|IGM05-14|175.0 |-60.0|357.0|133.0|40.5 |137.0|41.8 |4.0 |1.2 |1.66
|0.048 |
|------------------------------------------------------------------------------|
|IGM05-15|261.0 |-45.0|196.0|110.4|33.7 |122.5|37.3 |12.1|3.7
|14.3**|0.418**|
| | | |
|-------------------------------------------------|
| | | | |132.6|40.4 |146.0|44.5 |13.4|4.1
|3.42**|0.100**|
--------------------------------------------------------------------------------
Note: uncut and uncapped grade; * weighted grade; ** metallic screen fire assay results of reject samples
All the significant intercepts of IGM05 drill holes described above and in Table 1 may not be the true width. Due to the complexity of analyzing three types of quartz veins; namely, strike, diagonal & orthogonal veins, the true width will be determined after the Company's 3D geological model is updated.
Infill core sampling of diamond drill holes conducted on Island Mountain in between 1999 and 2005 was completed in this past April. More news on the complete holes that include metallic screen fire assay results of reject samples and lead collection fire assay results of previously unassayed infill core samples will be published as they become available the coming weeks. The Company is in the process of utilizing this information to update the drill hole database for a planned NI 43-101 resource estimate.
Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ-size drill core was cut/split in two halves using saws at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core is put in a sample bag. After all the samples are placed in the rice bags at the mine site, they are transported by BGM's personnel to a shipping company in Quesnel for trans-shipment to ACME Analytical Laboratories Ltd. in Vancouver, which is under the Bureau Veritas Group Company, for analysis. Sample preparation and geochemical assaying is done at ACME, following their own internal standards for quality control and verification. The gold assaying method uses a 1,000 gram metallic screen gold assay and 50 gram lead collection fire assay. ACME is certified under the Assayers Certification Program of B.C.
The information contained in this news release has been reviewed and approved by the Company's Chief Geologist Jim Yin, Ph.D., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
"Elena Clarici"
Dr. Elena Clarici
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. 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.
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