BGM Announces Discovery of Two Additional High Grade Gold Horizons on Barkerville Mountain
VANCOUVER, BC/ TheNewswire / October 20, 2015 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "BGM") is pleased to announce additional results from the ongoing Phase I drilling program on Barkerville Mountain at the Company's flagship Cariboo Gold Project (CGP). The results of these drillholes are presented below in Table 1. A drillhole location plan map is available on the Company's website www.barkervillegold.com.
Highlights - New AG Horizons:
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-2.49 g/t (0.07 oz/t) Au over 21.30 metres including 11.84 g/t (0.35 oz/t) Au over 1.50 metres (Upper Horizon)
-3.17 g/t (0.09 oz/t) Au over 11.80 metres including 9.64 g/t (0.28 oz/t) Au over 1.00 metres (Upper Horizon)
-11.61 g/t (0.34 oz/t) Au over 0.70 metres including 37.35 g/t (1.09 oz/t) Au over 0.20 metres (Lower Horizon)
-3.38 g/t (0.10 oz/t) Au over 3.25 metres including 12.06 g/t (0.35 oz/t) Au over 0.50 metres (Lower Horizon)
Highlights - BC Vein:
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-10.52 g/t (0.31 oz/t) Au over 4.50 metres including 32.53 g/t (0.95 oz/t) Au over 1.10 metres
-6.28 g/t (0.18 oz/t) Au over 2.50 metres including 9.64 g/t (0.28 oz/t) Au over 0.60 metres
-7.06 g/t (0.21 oz/t) Au over 3.47 metres
-1.42 g/t (0.04 oz/t) Au over 50.46 metres
-5.15 g/t (0.15 oz/t) Au over 6.03 metres
-6.04 g/t (0.18 oz/t) Au over 3.50 metres
The New 'AG' Horizons
The AG Horizons represent a new, blind discovery located approximately 550 metres east of the Bonanza Ledge open pit. The Horizons are manifested by a 550 metre long coincident gold and silver soil anomaly in an area devoid of rock outcrop and historical drilling. Discovery holes BGM-15-028 and BGM-15-029 have only tested the Upper Horizon to a vertical depth of 20 metres below surface and the Lower Horizon to a vertical depth of 75 metres. The Upper and Lower AG Horizons are located 300 and 200 metres (respectively) in the hangingwall rocks northeast of the BCV and are currently unexplored along strike and down dip. Having never been historically drilled along its surface expression, this area represents a significant new exploration target based on the grades and widths intersected in this first pass of drilling as well as the sheer size of the soil anomaly. Further drill testing is planned for this new exploration target. Additionally, BGM-15-028 intersected the BCV at a vertical depth of 170m below surface grading 6.28 g/t (0.18 oz/t) Au over 2.5 metres including 9.64 g/t (0.28 oz/t) Au over 0.6 metres. Thus far, BGM-15-028 and BGM-15-029 represent the deepest intersections of the BCV in the southeastern area of Barkerville Mountain, and occur 155 metres down dip of historical 2006 drillhole BC-06-07 which graded 23.13 g/t (0.67 oz/t) Au over 5.13 metres.
BC Vein Drilling Program
Two of the three drill rigs on Barkerville Mountain are currently performing a two stage, systematic drilling program on the BCV structure with the goal of methodically exploring undrilled portions of this large system as well as upgrading the historical drilling that may not have recovered all sulphide bearing drill core in the BCV due to poor drilling recoveries (refer to BGM Press Release dated August 12th, 2015). The BCV has been outlined by past operators over a continuous 1,400 metres strike length and on average only tested to a vertical depth of 75 metres below surface. The deepest historical intersection on the BCV was drilled in 2000 via drillhole BC-00-33 which graded 22.74 g/t Au (0.66 oz/t) Au over 4.11 metres. This intersection is located immediately below the Bonanza Ledge open pit at a vertical depth of only 150 metres below surface and remains completely unexplored below this depth and also along strike. Drillhole pierce points for the current 2015 program are designed to intersect the vein on aggressively spread out 50 metre hole spacings with the aim of outlining the most economically viable portions of the known 1,400 metre vein strike length. The first pass of shallow drilling will test the BCV from surface to 200 metres vertical depth whilst the second pass will selectively assess the depth potential of the vein from 200 to 400 metres below surface based on the results gathered from the first pass of shallow drilling.
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Drill Testing of Soil Anomalies
The third drill rig on Barkerville Mountain is currently selectively testing the numerous surficial gold in soil anomalies that have been defined by previous operators. To date, drill testing and trenching of these anomalies has yielded an excellent success rate as evidenced by the discoveries of the KL and AG Horizons.
Qualified Persons
Exploration activities at the Cariboo Gold Project are jointly administered on site by the Company's Project Managers Maggie Layman, P.Geo. and Wanda Carter, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.
Quality Assurance - Quality Control
Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company's secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by Paul Geddes, P.Geo, Vice President Exploration.
Drill core samples are submitted to SGS Canada's analytical facility in Burnaby, B.C. for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 1,000 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 5ppb and upper limit of 10,000ppb. Samples with gold assays greater than 10,000ppb are re-analyzed using 50g fire assay with gravimetric finish, as well as 1,000g screen metallic fire assay. Samples are also analyzed using a 49 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).
For further information, please contact:
Tom Obradovich
President & Chief Executive Officer
(416) 361-2511
tobradovich@barkervillegold.com
About BGM
The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. BGM's mineral tenures cover 1,164 square kilometres along a strike length of 60 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by BGM in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of this year with 91,489 tonnes of ore milled producing 25,464 ounces of gold. BGM has completed a number of drilling and exploration programs over the past 20 years and is currently compiling this data with all historical information in order develop geologic models which will assist new management and provide the framework to continue to explore the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.
Cautionary Statement on Forward -Looking Information
Neither the TSX Venture Exchange ("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 release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Table 1: Length weighted gold composites for drillholes BGM-15-028 through BGM-15-045
| HOLE-ID | FROM (M) | TO (M) | CORE LENGTH (M) | AU (G/T) | AU (OZ/T) | AREA |
| BGM-15-028 | 15.70 | 37.00 | 21.30 | 2.49 | 0.07 | UPPER AG |
| INCL | 18.30 | 19.80 | 1.50 | 11.84 | 0.35 | UPPER AG |
| AND | 22.80 | 23.30 | 0.50 | 11.33 | 0.33 | UPPER AG |
| AND | 35.10 | 36.00 | 0.90 | 9.23 | 0.27 | UPPER AG |
| BGM-15-028 | 89.50 | 90.20 | 0.70 | 11.61 | 0.34 | LOWER AG |
| INCL | 90.00 | 90.20 | 0.20 | 37.35 | 1.09 | LOWER AG |
| BGM-15-028 | 304.10 | 306.60 | 2.50 | 6.28 | 0.18 | BCV |
| INCL | 305.00 | 306.00 | 1.00 | 6.28 | 0.18 | BCV |
| AND | 306.00 | 306.60 | 0.60 | 9.64 | 0.28 | BCV |
| BGM-15-029 | 21.00 | 32.80 | 11.80 | 3.17 | 0.09 | UPPER AG |
| INCL | 21.00 | 22.00 | 1.00 | 9.64 | 0.28 | UPPER AG |
| AND | 22.00 | 23.00 | 1.00 | 8.52 | 0.25 | UPPER AG |
| AND | 31.90 | 32.80 | 0.90 | 8.38 | 0.24 | UPPER AG |
| BGM-15-029 | 109.00 | 112.25 | 3.25 | 3.38 | 0.10 | LOWER AG |
| INCL | 109.00 | 109.50 | 0.50 | 12.06 | 0.35 | LOWER AG |
| BGM-15-029 | 318.63 | 319.09 | 0.46 | 1.17 | 0.03 | BCV |
| BGM-15-030 | 31.91 | 32.91 | 1.00 | 3.70 | 0.11 | HWV |
| BGM-15-030 | 68.50 | 86.46 | 17.96 | 1.09 | 0.03 | BCV |
| BGM-15-030 | 99.39 | 100.69 | 1.30 | 1.47 | 0.04 | FWV |
| BGM-15-030 | 158.44 | 159.00 | 0.56 | 4.68 | 0.14 | FWV |
| BGM-15-031 | 60.50 | 61.64 | 1.14 | 2.32 | 0.07 | HWV |
| BGM-15-031 | 89.81 | 140.27 | 50.46 | 1.42 | 0.04 | BCV |
| INCL | 104.50 | 105.45 | 0.95 | 8.89 | 0.26 | BCV |
| AND | 119.45 | 120.03 | 0.58 | 16.03 | 0.47 | BCV |
| BGM-15-031 | 166.83 | 167.33 | 0.50 | 1.80 | 0.05 | FWV |
| BGM-15-032 | 65.00 | 86.00 | 21.00 | 1.13 | 0.03 | BCV |
| INCL | 84.04 | 85.00 | 0.96 | 8.53 | 0.25 | BCV |
| BGM-15-033 | 119.00 | 119.59 | 0.59 | 1.24 | 0.04 | HWV |
| BGM-15-033 | 125.50 | 128.50 | 3.00 | 2.43 | 0.07 | HWV |
| BGM-15-033 | 147.25 | 147.88 | 0.63 | 4.18 | 0.12 | HWV |
| BGM-15-033 | 150.50 | 152.00 | 1.50 | 5.60 | 0.16 | HWV |
| BGM-15-033 | 157.47 | 163.50 | 6.03 | 5.15 | 0.15 | BCV |
| BGM-15-033 | 160.50 | 162.00 | 1.50 | 14.69 | 0.43 | BCV |
| BGM-15-033 | 198.72 | 199.30 | 0.58 | 2.48 | 0.07 | FWV |
| BGM-15-034 | NO SIGNIFICANT ASSAYS NSA | |||||
| BGM-15-035 | 38.00 | 38.90 | 0.90 | 6.99 | 0.20 | HWV |
| BGM-15-035 | 93.50 | 94.70 | 1.20 | 1.03 | 0.03 | HWV |
| BGM-15-035 | 147.50 | 148.50 | 1.00 | 17.08 | 0.50 | BCV |
| BGM-15-036 | 71.00 | 72.35 | 1.35 | 4.26 | 0.12 | HWV |
| BGM-15-036 | 82.56 | 85.50 | 2.94 | 1.77 | 0.05 | HWV |
| BGM-15-036 | 114.15 | 114.78 | 0.63 | 6.37 | 0.19 | BCV |
| BGM-15-036 | 119.78 | 123.00 | 3.22 | 5.23 | 0.15 | BCV |
| INCL | 121.00 | 122.00 | 1.00 | 13.05 | 0.38 | BCV |
| BGM-15-037 | 71.50 | 73.00 | 1.50 | 1.63 | 0.05 | HWV |
| BGM-15-037 | 77.00 | 91.50 | 14.50 | 1.77 | 0.05 | BCV |
| INCL | 89.20 | 90.25 | 1.05 | 14.83 | 0.43 | BCV |
| BGM-15-038 | 18.50 | 20.00 | 1.50 | 5.21 | 0.15 | HWV |
| BGM-15-039 | 40.00 | 42.00 | 2.00 | 1.39 | 0.04 | HWV |
| BGM-15-039 | 54.50 | 56.00 | 1.50 | 1.82 | 0.05 | BCV |
| BGM-15-040 | 51.50 | 53.00 | 1.50 | 1.80 | 0.05 | HWV |
| BGM-15-040 | 67.00 | 70.50 | 3.50 | 6.04 | 0.18 | BCV |
| INCL | 69.15 | 70.50 | 1.35 | 11.38 | 0.33 | BCV |
| BGM-15-041 | 99.14 | 100.16 | 1.02 | 1.02 | 0.03 | HWV |
| BGM-15-041 | 104.50 | 106.00 | 1.50 | 9.28 | 0.27 | HWV |
| BGM-15-041 | 119.00 | 137.00 | 17.00 | 0.81 | 0.02 | BCV |
| BGM-15-042 | 55.63 | 63.02 | 7.39 | 1.49 | 0.04 | HWV |
| INCL | 55.63 | 56.24 | 0.61 | 5.18 | 0.15 | HWV |
| AND | 57.11 | 57.90 | 0.79 | 4.08 | 0.12 | HWV |
| BGM-15-042 | 89.77 | 90.49 | 0.72 | 3.14 | 0.09 | HWV |
| BGM-15-042 | 104.00 | 105.50 | 1.50 | 6.06 | 0.18 | HWV |
| BGM-15-042 | 107.00 | 108.50 | 1.50 | 8.18 | 0.24 | HWV |
| BGM-15-042 | 112.80 | 113.33 | 0.53 | 8.72 | 0.25 | HWV |
| BGM-15-042 | 122.00 | 125.00 | 3.00 | 2.45 | 0.07 | HWV |
| BGM-15-042 | 152.55 | 156.02 | 3.47 | 7.06 | 0.21 | BCV |
| INCL | 152.55 | 153.36 | 0.81 | 24.13 | 0.70 | BCV |
| BGM-15-042 | 164.07 | 167.00 | 2.93 | 8.07 | 0.24 | BCV |
| INCL | 164.07 | 165.15 | 1.08 | 11.49 | 0.34 | BCV |
| AND | 166.26 | 167.00 | 0.74 | 14.10 | 0.41 | BCV |
| BGM-15-042 | 169.83 | 171.37 | 1.54 | 3.95 | 0.12 | BCV |
| BGM-15-043 | 90.00 | 92.00 | 2.00 | 2.18 | 0.06 | HWV |
| BGM-15-043 | 147.50 | 149.00 | 1.50 | 0.72 | 0.02 | BCV |
| BGM-15-044 | 65.00 | 66.00 | 1.00 | 1.42 | 0.04 | HWV |
| BGM-15-044 | 70.50 | 77.00 | 6.50 | 0.79 | 0.02 | HWV |
| BGM-15-044 | 85.00 | 85.50 | 0.50 | 1.28 | 0.04 | HWV |
| BGM-15-044 | 100.50 | 103.50 | 3.00 | 0.55 | 0.02 | BCV |
| BGM-15-045 | 40.50 | 41.50 | 1.00 | 9.24 | 0.27 | HWV |
| BGM-15-045 | 71.50 | 73.00 | 1.50 | 3.44 | 0.10 | HWV |
| BGM-15-045 | 76.00 | 77.50 | 1.50 | 1.21 | 0.04 | HWV |
| BGM-15-045 | 95.50 | 97.00 | 1.50 | 1.47 | 0.04 | HWV |
| BGM-15-045 | 103.00 | 104.50 | 1.50 | 3.72 | 0.11 | HWV |
| BGM-15-045 | 125.50 | 132.50 | 7.00 | 7.25 | 0.21 | BCV |
| INCL | 125.50 | 130.00 | 4.50 | 10.52 | 0.31 | BCV |
| INCL | 125.50 | 126.60 | 1.10 | 32.53 | 0.95 | BCV |
| AND | 129.00 | 130.00 | 1.00 | 9.71 | 0.28 | BCV |
Notes:
Core lengths represent 70-90% true widths. Rock not recovered by drilling was assigned zero grade and not included in the composites. Top cuts have not been applied to high grade assays. Conversion factor: 1.0 oz/t = 34.2857 g/t. BCV - BC Vein; HWV - Hanging Wall Vein; FWV - Footwall Vein; AG - AG Horizon.
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