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Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce drilling results from the ongoing 2018 Cow Mountain exploration and category conversion program at the Company's flagship Cariboo Gold Project. The drilling results demonstrate continuity of high grade gold mineralization within vein corridors. The Company is currently exploring and delineating high grade vein corridors with four diamond drills on Cow Mountain.
Selected Drilling Highlights:
-- CM-18-005: 28.98 g/t Au over 1.90 meters (visible gold was observed)
-- CM-18-006: 12.47 g/t Au over 5.35 meters
-- CM-18-007: 30.62 g/t Au over 1.80 meters (visible gold was observed)
-- CM-18-007: 76.90 g/t Au over 0.70 meters
-- CM-18-007: 76.90 g/t Au over 0.70 meters
-- CM-18-010: 10.70 g/t Au over 5.85 meters
-- CM-18-012: 24.69 g/t Au over 3.15 meters (visible gold was observed)
-- CM-18-013: 23.18 g/t Au over 3.70 meters
-- CM-18-017: 20.41 g/t Au over 2.95 meters
-- CM-18-018: 109.05 g/t Au over 1.20 meters (visible gold was observed)
-- CM-18-024: 26.33 g/t Au over 4.00 meters
-- CM-18-029: 160.50 g/t Au over 0.85 meters (visible gold was observed)
-- CM-18-029: 39.81 g/t Au over 2.10 meters
-- CM-18-039: 377.00 g/t Au over 0.50 meters
-- CM-18-040: 66.40 g/t Au over 1.30 meters
-- CM-18-043: 19.73 g/t Au over 3.05 meters
-- CM-18-045: 13.07 g/t Au over 5.05 meters
-- CM-18-049: 24.40 g/t Au over 2.20 meters
Detailed drilling results are presented in the table below. A drill hole location plan map and longitudinal section is presented at the end of this release. The Cow Mountain 3D deposit model with assay highlights is located on the Company's website.
Barkerville Gold Mines Ltd. 3D Deposit Model
The ongoing drill program at Cow Mountain is designed to infill and expand high-grade gold-mineralized vein corridors modelled in the May 2018 Cow Mountain resource estimate. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike. These corridors have been defined from surface to a vertical depth of up to 300 meters and remain open for expansion at depth and down plunge. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.
Qualified Persons
Exploration activities at the Cariboo Gold Project are administered on site by the Company's Project Geologists, Kyle Orr and Felipe Castaneda. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific 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 the Company's Qualified Person, Maggie Layman, P.Geo, Vice President Exploration.
Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS 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 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 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 on Barkerville Gold Mines Ltd. please contact:
Chris Lodder
President & Chief Executive Officer
155 University Avenue, Suite 1440
Toronto, Ontario, Canada
[email protected]
About Barkerville Gold Mines Ltd.
The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville's Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company's Brownfield's exploration team is focused on developing and delineating a mineable resource within the 7 kilometers of principle project area located near the town of Wells, British Columbia. The Company's Greenfield's team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration. The operation's team is focused on developing and mining the Bonanza Ledge and BC Vein d eposits on Barkerville Mountain. This operation allows the company to generate near term cash flow, train a local work force, keeps the present mining permit active, and de-risk's the project through staged production growth. Processing of material from these deposits is processed at the QR mill. QR is a fully owned, permitted mill and tailings facility, located approximately 110 kilometres away from Wells, and can be accessed by an all-season road.
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 ar e 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 o r 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 from Cow Mountain
HOLD ID FROM TO CORE LENGTH (M) AU (G/T)
CM-18-001 187.50 190.00 2.50 3.31
Including 187.50 188.10 0.60 11.55
194.00 196.50 2.50 5.35
Including 194.00 195.00 1.00 10.50
336.40 338.50 2.10 3.54
Including 336.40 337.00 0.60 5.57
CM-18-002 No Significant Assays
CM-18-003 40.00 42.00 2.00 7.43
Including 41.50 42.00 0.50 26.30
91.00 91.50 0.50 6.31
CM-18-004 No Significant Assays
CM-18-005 60.00 61.90 1.90 28.98
Including 60.00 60.60 0.60 41.40
And 60.60 61.15 0.55 51.20
71.00 72.65 1.65 7.10
Including 72.00 72.65 0.65 14.20
83.25 83.90 0.65 5.62
129.50 131.00 1.50 4.59
134.90 135.40 0.50 17.15
176.50 177.00 0.50 6.33
CM-18-006 140.25 141.25 1.00 7.99
164.60 167.00 2.40 4.57
Including 164.60 165.10 0.50 12.95
199.85 200.35 0.50 5.91
204.75 206.60 1.85 11.34
Including 204.75 205.70 0.95 16.65
243.00 248.35 5.35 12.47
Including 243.00 244.20 1.20 48.80
And 247.70 248.35 0.65 8.44
CM-18-007 128.20 130.00 1.80 30.62
Including 128.20 128.75 0.55 51.70
And 129.50 130.00 0.50 53.30
134.40 135.10 0.70 76.90
137.80 138.40 0.60 4.76
141.80 142.40 0.60 7.97
CM-18-008 176.50 177.10 0.60 34.20
224.60 225.25 0.65 4.31
225.90 226.85 0.95 7.61
257.00 258.20 1.20 4.49
310.20 310.80 0.60 5.79
CM-18-009 11.50 12.00 0.50 7.51
52.50 53.00 0.50 4.21
75.20 77.35 2.15 6.71
Including 75.20 75.90 0.70 14.10
And 76.70 77.35 0.65 6.89
CM-18-010 26.55 27.40 0.85 8.15
30.30 31.00 0.70 4.49
40.70 42.40 1.70 8.64
Including 40.70 41.40 0.70 15.80
44.70 50.55 5.85 10.70
Including 44.70 45.40 0.70 42.80
And 46.50 47.00 0.50 6.32
And 47.60 48.60 1.00 7.02
And 49.50 50.55 1.05 19.25
51.30 51.90 0.60 3.41
52.50 53.00 0.50 9.62
CM-18-011 81.75 82.60 0.85 38.50
192.00 192.50 0.50 3.55
195.90 197.00 1.10 5.69
348.90 349.50 0.60 7.60
CM-18-012 102.00 102.50 0.50 4.31
105.85 106.35 0.50 4.58
109.45 111.60 2.15 8.49
Including 105.85 106.35 0.50 4.58
And 110.70 111.60 0.90 6.14
113.75 116.90 3.15 24.69
Including 113.75 114.25 0.50 15.70
And 114.25 114.90 0.65 15.85
And 114.90 115.60 0.70 60.60
And 116.40 116.90 0.50 32.00
122.75 129.75 7.00 5.49
Including 122.75 123.40 0.65 8.20
And 123.40 124.30 0.90 26.70
And 129.15 129.75 0.60 6.71
CM-18-013 56.70 60.40 3.70 23.18
Including 56.70 57.20 0.50 45.10
And 57.80 58.30 0.50 52.20
And 59.90 60.40 0.50 71.50
75.80 76.30 0.50 10.20
90.60 91.10 0.50 63.80
123.50 124.00 0.50 26.80
133.00 133.50 0.50 15.15
CM-18-014 44.70 45.20 0.50 6.28
138.50 139.00 0.50 56.00
180.95 182.00 1.05 4.69
200.50 202.10 1.60 8.22
CM-18-015 122.50 123.50 1.00 5.11
189.60 190.10 0.50 10.50
226.60 227.50 0.90 15.45
CM-18-016 49.10 50.00 0.90 5.15
74.00 76.50 2.50 7.84
Including 74.50 75.10 0.60 29.70
90.00 90.70 0.70 7.95
98.40 99.00 0.60 8.65
100.70 101.20 0.50 11.15
CM-18-017 17.75 18.25 0.50 9.23
145.95 148.90 2.95 20.41
Including 145.95 146.80 0.85 21.80
And 147.40 148.90 1.50 27.70
True widths are estimated to be 50 to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.
Table 2: Drillhole Collar Orientations:
HOLE ID AZIMUTH DIP
CM-18-001 137 -45
CM-18-002 117 -61
CM-18-003 123 -55
CM-18-004 117 -61
CM-18-005 126 -49
CM-18-006 123 -63
CM-18-007 126 -58
CM-18-008 126 -66
CM-18-009 127 -58
CM-18-010 122 -47
CM-18-011 129 -45
CM-18-012 128 -66
CM-18-013 128 -51
CM-18-014 126 -47
CM-18-015 121 -61
CM-18-016 116 -63
CM-18-017 128 -54
CM-18-018 127 -57
CM-18-019 133 -57
CM-18-020 111 -46
CM-18-021 118 -47
CM-18-022 142 -55
CM-18-023 128 -48
CM-18-024 154 -49
CM-18-025 120 -45
CM-18-026 137 -47
CM-18-027 123 -61
CM-18-028 115 -61
CM-18-029 115 -44
CM-18-030 111 -54
CM-18-031 131 -47
CM-18-032 133 -50
CM-18-033 125 -44
CM-18-034 138 -58
CM-18-035 334 -49
CM-18-036 150 -49
CM-18-037 127 -46
CM-18-038 142 -47
CM-18-039 114 -61
CM-18-040 120 -46
CM-18-041 137 -49
CM-18-042 137 -57
CM-18-043 150 -54
CM-18-044 131 -50
CM-18-045 141 -63
CM-18-046 132 -47
CM-18-047 120 -53
CM-18-048 117 -45
CM-18-049 116 -56
CM-18-050 323 -45
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e9d4d06d-a74f-4559-8a80-03f3f5df303a
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d3f28994-59e4-44d9-8723-35aafeb80da5
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4a48847b-b39b-4edf-986a-cfd50a368635
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