Ride the Tiger with CD Message Board

From: Boolish	7/9/2012 8:58:25 AM
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Post raises questions about Barkerville's Cow Mtn. find 2012-07-09 08:29 ET - In the News The Financial Post reports in its Saturday edition that Barkerville Gold Mines is now in the spotlight because of a massive gold resource it reported at its Cow Mountain project in central British Columbia. The Post's Peter Koven writes Barkerville said drilling at Cow Mountain has uncovered a staggering 10.6 million ounces of indicated gold resources. The company's press release also stated its "geological potential" could be as high as 90 million ounces. Using geological potential figures troubles some experts. Barkerville has a market value of only $107-million, suggesting that there is not much confidence in the resource right now. Barkerville shares soared on the announcement, but they closed Friday at 97 cents. A 2006 study on the Cow Mountain property yielded an indicated resource of only 431,000 ounces of gold. One analyst said he believes the study used "aggressive" search parameters, assuming drill results have influence over a wide area. The resource estimate was put together by Peter George, an independent geologist at Geoex Ltd. In 2010, he worked on a resource for Rubicon Minerals Corp. that was downsized after the B.C. Securities Commission intervened with concerns about it.