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Gold/Mining/Energy : BGM

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To: howestreetbull who wrote (103)1/9/2018 8:08:10 AM
From: howestreetbull   of 127
 
BGM.v intersects 29.20 g/t Au over 5.55 metres at Shaft Zone
by @newswire on January 9, 2018

ISLAND MOUNTAIN ALSO YEILDS 16.38 G/T AU OVER 5.80 METRES

TORONTO, Jan. 9, 2018 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce additional drilling results from the 2017 Phase II Island Mountain exploration and infill drilling program at the Company's flagship Cariboo Gold Project. The Company is currently exploring and delineating the Shaft Zone with five drill rigs. Detailed drilling results, a drill hole location plan map and vertical sections are presented at the end of this release. The exact geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time therefore core lengths are reported.

Drilling Highlights

  • IM-17-196: 16.38 g/t Au over 5.80 meters
  • IM-17-198: 5.20 g/t Au over 6.25 meters
  • IM-17-202: 29.20 g/t Au over 5.55 meters
  • IM-17-205: 8.21 g/t Au over 4.85 meters


  • Continued Expansion of Vein Corridors

    The Company is pleased to report mineralization expansion from the ongoing drilling at Shaft Zone. Phase II drillhole IM-17-196 intersected 16.38 g/t Au over 5.80 meters at a vertical depth 380 meters below surface. This new intersection is open along strike to the north east. Previously reported hole IM-17-146 is located 35 meters to the south west and averaged 17.45 g/t Au over 8.60 meters. Further up-hole at a vertical depth of 175 meters, IM-17-196 also intersected 6.63 g/t Au over 4.40 meters and correlates with previously reported hole IM-17-115 that graded 10.14 g/t Au over 4.00 meters.

    On the north-western extents of the Shaft Zone, drillhole IM-17-202 intersected a well mineralized vein zone grading 29.20 g/t Au over 5.55 meters at a vertical depth of 85 meters from surface. Drilling in this area is sparse and the closest intersection is previously reported drillhole IM-17-030, 135 meters down dip and assayed 9.35 g/t Au over 1.00 meters. This new intersection warrants additional drilling is in this area.

    Shaft Zone - Corridors Discussion

    The sandstone hosted veining which constitutes the newly named Alpha, Beta and Gamma Corridors of the Shaft Zone are manifested as an anastomosing network of high vein density with an overall sub-vertical dip and northeast strike. Based upon drilling results to date, estimated horizontal widths of the corridors are variable and range from 5 to 35 metres. These corridors, as well as others that are developing in the Shaft and Valley Zones have been defined from surface to a vertical depth of 600 metres and remain open for expansion to depth and down plunge. Drillhole spacing in the corridors currently averages 25 metres between drilling sections with vertical drilling separations ranging from 20 to 75 metres with hole spacing increasing to depth. 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 Exploration Manager, Maggie Layman, 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 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, Paul Geddes, 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).

    About Barkerville Gold Mines Ltd.

    The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville's mineral tenures cover 1,950 square kilometres along a strike length of 67 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 Barkerville 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 2015 with 91,489 tonnes of material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in 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 Shaft Zone Phase II drillholes:

    HOLE-ID

    FROM (M)

    TO (M)

    CORE LENGTH (M)

    AU (G/T)

    IM-17-190

    32.00

    32.60

    0.60

    5.16

    IM-17-190

    232.00

    232.50

    0.50

    6.29

    IM-17-190

    252.70

    254.20

    1.50

    11.94

    INCLUDING

    253.50

    254.20

    0.70

    15.15

    IM-17-190

    528.60

    529.20

    0.60

    9.05

    IM-17-190

    535.90

    542.60

    6.70

    11.08

    INCLUDING

    535.90

    536.90

    1.00

    18.20

    AND

    538.85

    539.95

    1.10

    41.70

    AND

    540.85

    541.40

    0.55

    10.40

    IM-17-190

    547.70

    548.20

    0.50

    33.40

    IM-17-190

    655.40

    656.55

    1.15

    42.17

    INCLUDING

    655.40

    655.95

    0.55

    82.60

    IM-17-192

    30.60

    33.60

    3.00

    5.50

    INCLUDING

    30.60

    31.85

    1.25

    6.61

    AND

    33.00

    33.60

    0.60

    11.45

    IM-17-192

    35.00

    38.00

    3.00

    5.94

    INCLUDING

    35.90

    37.00

    1.10

    8.75

    IM-17-192

    35.00

    37.00

    2.00

    8.87

    INCLUDING

    309.65

    310.15

    0.50

    17.75

    IM-17-193

    122.20

    122.90

    0.70

    10.30

    IM-17-193

    147.35

    149.50

    2.15

    9.03

    INCLUDING

    147.35

    148.20

    0.85

    17.55

    AND

    149.00

    149.50

    0.50

    8.90

    IM-17-193

    160.50

    161.00

    0.50

    9.78

    IM-17-195




    ASSAYS PENDING

    IM-17-196

    232.90

    233.50

    0.60

    9.11

    IM-17-196

    244.70

    248.90

    4.20

    5.32

    INCLUDING

    244.70

    246.00

    1.30

    9.13

    AND

    248.40

    248.90

    0.50

    14.20

    IM-17-196

    255.20

    259.60

    4.40

    6.63

    INCLUDING

    256.00

    256.70

    0.70

    7.18

    AND

    259.00

    259.60

    0.60

    31.70

    IM-17-196

    266.50

    268.00

    1.50

    13.09

    INCLUDING

    267.50

    268.00

    0.50

    30.20

    IM-17-196

    452.30

    458.10

    5.80

    16.38

    INCLUDING

    453.20

    453.75

    0.55

    73.40

    AND

    456.55

    457.45

    0.90

    44.40

    IM-17-196

    485.25

    491.30

    6.05

    4.76

    INCLUDING

    485.75

    486.30

    0.55

    14.65

    AND

    489.60

    490.10

    0.50

    10.30

    AND

    490.70

    491.30

    0.60

    16.40

    IM-17-197

    148.80

    149.30

    0.50

    4.80

    IM-17-197

    176.90

    177.60

    0.70

    5.70

    IM-17-197

    189.00

    189.70

    0.70

    4.39

    IM-17-197

    211.40

    212.30

    0.90

    6.32

    IM-17-197

    330.00

    330.50

    0.50

    6.15

    IM-17-197

    336.00

    336.50

    0.50

    11.85

    IM-17-197

    350.20

    353.70

    3.50

    13.37

    INCLUDING

    350.20

    350.85

    0.65

    34.90

    AND

    351.85

    352.90

    1.05

    20.20

    IM-17-197

    384.10

    387.65

    3.55

    11.22

    INCLUDING

    386.00

    386.50

    0.50

    20.30

    AND

    386.50

    387.00

    0.50

    31.10

    AND

    387.00

    387.65

    0.65

    14.05

    IM-17-197

    411.50

    412.10

    0.60

    5.83

    IM-17-198

    160.00

    161.00

    1.00

    27.50

    IM-17-198

    200.20

    201.25

    1.05

    4.36

    INCLUDING

    200.70

    201.25

    0.55

    5.54

    IM-17-198

    211.50

    217.75

    6.25

    5.20

    INCLUDING

    212.00

    212.50

    0.50

    5.39

    AND

    214.70

    215.40

    0.70

    5.98

    AND

    216.40

    217.20

    0.80

    23.00

    IM-17-198

    222.25

    223.45

    1.20

    10.15

    IM-17-198

    226.60

    227.50

    0.90

    12.25

    IM-17-198

    359.40

    360.00

    0.60

    16.60

    IM-17-198

    369.95

    370.55

    0.60

    5.33

    IM-17-199

    169.75

    170.45

    0.70

    4.68

    IM-17-199

    305.50

    306.00

    0.50

    11.00

    IM-17-199

    457.65

    459.35

    1.70

    21.14

    INCLUDING

    457.65

    458.85

    1.20

    13.15

    AND

    458.85

    459.35

    0.50

    40.30

    IM-17-199

    518.00

    519.80

    1.80

    6.40

    INCLUDING

    518.00

    519.00

    1.00

    8.24

    IM-17-199

    533.00

    533.50

    0.50

    8.94

    IM-17-199

    618.20

    618.70

    0.50

    5.62

    IM-17-199

    684.75

    686.15

    1.40

    5.71

    IM-17-199

    707.10

    709.05

    1.95

    10.11

    INCLUDING

    707.10

    707.60

    0.50

    17.30

    IM-17-200




    ASSAYS PENDING

    IM-17-201




    ASSAYS PENDING

    IM-17-202

    114.70

    120.25

    5.55

    29.20

    INCLUDING

    116.40

    117.00

    0.60

    41.40

    AND

    117.00

    118.00

    1.00

    67.40

    IM-17-202

    326.80

    331.00

    4.20

    3.49

    INCLUDING

    326.80

    327.40

    0.60

    16.50

    IM-17-202

    374.20

    374.90

    0.70

    40.80

    IM-17-202

    378.95

    379.60

    0.65

    14.40

    IM-17-203

    82.75

    83.30

    0.55

    105.00

    IM-17-204




    ASSAYS PENDING

    IM-17-205

    30.60

    35.45

    4.85

    8.21

    INCLUDING

    30.60

    31.65

    1.05

    5.47

    AND

    32.95

    33.90

    0.95

    8.02

    AND

    33.90

    34.40

    0.50

    45.50

    IM-17-205

    120.00

    121.80

    1.80

    6.09

    IM-17-205

    146.45

    147.40

    0.95

    6.63

    IM-17-205

    148.00

    148.50

    0.50

    35.20

    IM-17-205

    158.40

    159.00

    0.60

    6.09

    IM-17-205

    170.15

    170.65

    0.50

    109.50

    IM-17-206

    106.00

    106.70

    0.70

    70.80

    IM-17-207

    9.00

    10.25

    1.25

    11.85

    IM-17-207

    105.00

    105.70

    0.70

    9.24

    IM-17-207

    184.10

    184.90

    0.80

    16.00

    IM-17-207

    196.00

    197.30

    1.30

    6.61

    IM-17-207

    221.20

    224.40

    3.20

    16.75

    INCLUDING

    223.35

    224.40

    1.05

    47.70

    IM-17-207

    254.00

    255.00

    1.00

    4.78

    IM-17-207

    270.00

    270.75

    0.75

    19.75

    IM-17-208

    138.50

    140.10

    1.60

    3.69

    IM-17-208

    344.50

    345.70

    1.20

    62.20

    IM-17-208

    355.50

    356.40

    0.90

    4.57

    IM-17-208

    363.80

    364.50

    0.70

    26.30

    IM-17-209




    ASSAYS PENDING

    IM-17-210

    46.25

    46.75

    0.50

    15.35

    IM-17-210

    236.25

    236.85

    0.60

    67.60

    IM-17-210

    326.15

    328.00

    1.85

    9.43

    INCLUDING

    326.65

    327.15

    0.50

    23.50

    IM-17-210

    401.10

    401.60

    0.50

    6.42

    IM-17-210

    472.00

    473.00

    1.00

    5.30

    IM-17-210

    480.50

    481.45

    0.95

    6.13

    IM-17-210

    527.50

    532.45

    4.95

    3.70

    INCLUDING

    531.45

    532.45

    1.00

    7.99

    IM-17-211

    90.85

    91.85

    1.00

    8.52

    INCLUDING

    91.35

    91.85

    0.50

    12.40

    IM-17-211

    125.00

    126.00

    1.00

    24.10

    IM-17-211

    184.80

    185.30

    0.50

    9.09

    IM-17-211

    189.75

    191.80

    2.05

    16.90

    IM-17-211

    226.00

    227.00

    1.00

    5.43

    IM-17-212




    ASSAYS PENDING

    IM-17-213




    ASSAYS PENDING

    IM-17-214

    48.00

    48.50

    0.50

    21.40

    IM-17-214

    58.50

    59.30

    0.80

    12.05

    IM-17-214

    79.80

    81.00

    1.20

    4.84

    IM-17-214

    271.50

    272.00

    0.50

    20.60

    IM-17-214

    322.10

    324.00

    1.90

    5.30

    IM-17-214

    323.30

    324.00

    0.70

    8.98




    True widths cannot be accurately determined from the information available therefore core lengths are reported. 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

    IM-17-190

    132.4

    -45.8

    IM-17-193

    139.3

    -66.7

    IM-17-196

    139.0

    -61.6

    IM-17-197

    140.8

    -49.3

    IM-17-198

    141.5

    -64.4

    IM-17-199

    132.8

    -59.9

    IM-17-202

    141.2

    -44.0

    IM-17-203

    141.8

    -62.5

    IM-17-205

    136.2

    -65.2

    IM-17-206

    139.6

    -44.5

    IM-17-207

    141.9

    -65.6

    IM-17-208

    142.4

    -45.0

    IM-17-210

    140.5

    -43.4

    IM-17-211

    138.7

    -63.3

    IM-17-214

    137.6

    -64.2










    SOURCE Barkerville Gold Mines Ltd.



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