| To: howestreetbull who wrote (121) | 3/27/2019 10:49:39 AM | | From: howestreetbull | | | | BGM.v $BGMZF Barkerville Announces C$20 Million "Bought Deal" Private Placement of Common Shares
by @nasdaq on 27 Mar 2019, 04:54
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, March 27, 2019 (GLOBE NEWSWIRE) -- Barkerville Gold Mines Ltd. ("Barkerville" or the "Corporation") (TSX-V:BGM) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 55,556,000 common shares of the Corporation (the "Common Shares") at a price of C$0.36 per Common Share, for total gross proceeds of C$20,000,160 (the "Offering").
The Corporation has granted the Underwriters an option to purchase up to an additional 15% of the Offering in Common Shares (the "Underwriters' Option”), exercisable in whole or in part at any time up to 48 hours prior to the closing date.
The net proceeds from the sale of the Common Shares will be used for exploration and development of the Cariboo Gold Project, including permitting and underground development, as well as for working capital and general corporate purposes.
The closing of the Offering is expected to occur on or about April 23, 2019 and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The Common Shares issued in connection with the Offering will be subject to a statutory four month hold period in accordance with applicable securities legislation. In consideration for their services, the Corporation has agreed to pay the Underwriters a cash commission equal to 5.0% of the gross proceeds from the Offering, excluding gross proceeds received from the sale of Common Shares to Osisko Gold Royalties Ltd and Osisko Mining Inc.
About Barkerville
The Corporation 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 Corporation has unlocked the fundamental structural controls of gold mineralization. The Corporation's Brownfield's exploration team is focused on upgrading and expanding the May 2018 43-101 compliant resource within the 8 kilometers of principle project area located near the town of Wells, British Columbia. The Corporation'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 completing required studies in order to permit underground mining on Cow and Island Mountains. For more information on Barkerville Gold Mines Ltd., please contact:
Chris Lodder
President and Chief Executive Officer
155 University Avenue, Suite 1410
Toronto, Ontario, Canada
clodder@barkervillegold.com
416-775-3671
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. 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. Although the Corporation 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 Corporation 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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.
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| From: howestreetbull | 5/2/2019 9:37:04 AM | | | | | | BGM Intersects 10.76 g/t Gold Over 20.0 Meters in Deep Exploration on Island Mountain
V.BGM | 2 hours ago
Canada NewsWire
TORONTO, May 2, 2019
TORONTO, May 2, 2019 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM. the "Company" or "BGM") is pleased to announce the new drilling results from the 2019 Island Mountain exploration and category conversion program at the Company's flagship Cariboo Gold Project in central British Columbia.
image: mma.prnewswire.com
New results from eight recent holes on Island Mountain include 10.76 g/t Au over 20.0 meters including a sample of 157.50 g/t Au over 1.25 meters in IM-19-019, extending a mineralized vein corridor on Shaft Zone 60 meters down dip to a vertical depth of 450 meters. Infill hole IM-19-020 intersected 162.5 g/t Au over 0.50 meter outside of an existing vein corridor. IM-19-023 intersected five new previously unmodelled zones including 21.97 g/t Au over 4.05 meters. These results, as well as the highlights summarized below, demonstrate continuity of grade and widths within the modelled vein corridors, expansion of mineralization at depth and anomalous mineralization between the vein corridors.
Select Drilling Highlights:
IM-19-019 is located at Shaft Zone on Island Mountain and was designed to investigate down dip extensions on the mineralized vein corridors as well as shallow infill high-grade zones. IM-19-019 was successful at intersecting multiple high-grade intercepts of gold mineralization including 27.60 g/t Au over 1.40 meters within a modelled vein corridor and further down hole, at a vertical depth of 450 meters, IM-19-019 intersected 10.76 g/t Au over 20.0 meters vein corridor within sericite altered siltstone-sandstone and includes a sample that assayed 157.50 g/t over 1.25 meters. Mineralization continued to depth of 543 meters down hole, with a sample grading 11.85 g/t Au over 0.50 meter.
IM-19-020 was designed to infill shallow, high-grade vein corridors on Shaft Zone and intersected a quartz vein hosting up to 80% pyrite vein outside a previously modelled vein corridor that assayed 162.50 g/t over 0.50 meter at a vertical depth of 115 meters.
IM-19-023 is a 684-meter-deep hole and intersected five main zones of mineralization. At 194.5 meters down hole, IM-19-023 intersected previously unmodelled quartz veins that assayed 21.97 g/t Au over 4.05 meters including a sample of 87.60 g/t over 0.75 meters. At depth, a zone of strong silica alteration within sandstone and calcareous sandstone is present from 438 meters to 493 meters and exhibits multiple vein corridors with disseminated pyrite and cosalite not previously modelled and extend veins at depth. At 434.70 meters down hole, a mineralized zone assayed 6.78 g/t Au over 3.30 meters and 65 meters down dip of a modelled vein corridor. At 450.25 meters, 10.57 g/t Au over 5.60 meters, at 471 meters depth, 4.33 g/t Au over 3.70 metersincluding 12.95 g/t Au over 1.00 meter, at 485.35 meters depth 10.12 g/t Au over 7.95 meters.
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.
A complete table of assay highlights for IM-19-016 to IM-19-023 is present below. The Shaft Zone 3D deposit model with assay highlights is located on the Company's website:
Barkerville Gold Mines Ltd. 3D Deposit Model
Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. These corridors have been defined from surface to a vertical depth averaging 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
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.
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 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 upgrading and expanding the May 2018 43-101 compliant resource within the 8 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 completing required studies in order to pemit underground mining on Cow and Island Mountains.
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
HOLE ID
|
| DEPTH
FROM (M)
| DEPTH TO
(M)
| LENGTH
(M)
| AU (G/T)
| PURPOSE
| TARGET
| IM-19-016
|
| 162.00
| 162.50
| 0.50
| 6.84
| Exploration
| Mosquito
|
|
| 171.70
| 176.10
| 4.40
| 3.96
|
|
|
| Including
| 172.50
| 173.00
| 0.50
| 17.30
|
|
|
|
| 201.75
| 202.25
| 0.50
| 8.11
|
|
|
|
| 260.10
| 260.60
| 0.50
| 10.75
|
|
|
|
| 518.50
| 519.00
| 0.50
| 3.55
|
|
| IM-19-017
| No Significant Assays
|
|
|
| Stratigraphic
| Willow
| IM-19-018
|
| 417.50
| 418.00
| 0.50
| 6.62
| Exploration and Infill
| Mosquito
|
|
| 456.00
| 456.50
| 0.50
| 5.81
|
|
|
|
| 458.35
| 458.85
| 0.50
| 6.23
|
|
|
|
| 487.75
| 491.20
| 3.45
| 7.64
|
|
|
| Including
| 487.75
| 488.45
| 0.70
| 18.90
|
|
|
| And
| 489.30
| 490.10
| 0.80
| 12.90
|
|
| IM-19-019
|
| 67.00
| 68.00
| 1.00
| 4.24
| Exploration and Infill
| Shaft Zone
|
|
| 114.60
| 116.10
| 1.50
| 7.28
|
|
|
|
| 163.80
| 165.20
| 1.40
| 27.60
|
|
|
| Including
| 163.80
| 164.70
| 0.90
| 40.30
|
|
|
|
| 261.80
| 262.35
| 0.55
| 6.52
|
|
|
|
| 402.20
| 404.50
| 2.30
| 5.13
|
|
|
|
| 407.22
| 409.70
| 2.48
| 4.84
|
|
|
|
| 438.80
| 441.50
| 2.70
| 6.40
|
|
|
|
| 440.60
| 441.50
| 0.90
| 17.30
|
|
|
|
| 488.00
| 489.10
| 1.10
| 6.05
|
|
|
|
| 488.00
| 508.00
| 20.00
| 10.76
|
|
|
| Including
| 488.00
| 489.10
| 1.10
| 6.05
|
|
|
| And
| 504.50
| 505.75
| 1.25
| 157.50
|
|
|
| And
| 505.75
| 506.60
| 0.85
| 5.20
|
|
|
|
| 543.00
| 543.50
| 0.50
| 11.85
|
|
| IM-19-020
|
| 78.00
| 78.90
| 0.90
| 7.29
| Infill
| Shaft Zone
|
|
| 143.00
| 143.50
| 0.50
| 162.50
|
|
| IM-19-021
| Hole Abandoned
|
|
|
| Infill
| Shaft Zone
| IM-19-022
|
| 168.20
| 169.20
| 1.00
| 5.36
| Infill
| Shaft Zone
|
|
| 301.40
| 304.00
| 2.60
| 10.77
|
|
|
| Including
| 302.65
| 303.45
| 0.80
| 29.70
|
|
|
| And
| 303.45
| 304.00
| 0.55
| 6.54
|
|
| IM-19-023
|
| 135.75
| 136.80
| 1.05
| 11.95
| Exploration and Infill
| Shaft Zone
|
|
| 194.50
| 198.55
| 4.05
| 21.97
|
|
|
| Including
| 194.50
| 195.25
| 0.75
| 87.60
|
|
|
| And
| 196.50
| 197.00
| 0.50
| 19.30
|
|
|
| And
| 197.75
| 198.55
| 0.80
| 16.85
|
|
|
|
| 276.00
| 281.70
| 5.70
| 1.45
|
|
|
| Including
| 276.00
| 276.50
| 0.50
| 4.54
|
|
|
|
| 409.70
| 411.00
| 1.30
| 17.90
|
|
|
|
| 434.70
| 438.00
| 3.30
| 6.78
|
|
|
| Including
| 434.70
| 435.80
| 1.10
| 15.10
|
|
|
|
| 450.25
| 455.85
| 5.60
| 10.57
|
|
|
| Including
| 453.00
| 454.45
| 1.45
| 22.50
|
|
|
| And
| 454.45
| 455.85
| 1.40
| 12.45
|
|
|
|
| 471.00
| 474.70
| 3.70
| 4.33
|
|
|
| Including
| 471.00
| 472.00
| 1.00
| 12.95
|
|
|
|
| 485.35
| 493.30
| 7.95
| 10.12
|
|
|
| Including
| 490.75
| 492.00
| 1.25
| 27.80
|
|
|
|
| 617.30
| 618.10
| 0.80
| 7.49
|
|
|
Table 2: Drillhole Collar Orientations:
HOLE ID
| DIP
| AZIMUTH
| DEPTH
(M)
| IM-19-016
| -46
| 314
| 600
| IM-19-017
| -46
| 222
| 637
| IM-19-018
| -45
| 314
| 501
| IM-19-019
| -60
| 142
| 576
| IM-19-020
| -59
| 137
| 162
| IM-19-021
| -48
| 137
| 195
| IM-19-022
| -61
| 140
| 336
| IM-19-023
| -46
| 127
| 684
|
SOURCE Barkerville Gold Mines Ltd.
image: rt.newswire.ca
View original content to download multimedia: newswire.ca
on Barkerville Gold Mines Ltd. please contact: Chris Lodder, President & Chief Executive Officer, 155 University Avenue, Suite 1440, Toronto, Ontario, Canada, clodder@barkervillegold.comCopyright CNW Group 2019
Canada Newswire
May 2, 2019 - 4:00 AM PDT
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| From: howestreetbull | 5/29/2019 8:58:45 AM | | | | | | BGM Announces Updated Underground Resource For Cariboo Gold Project
V.BGM | 1 hour ago
BGM Announces Updated Underground Resource For Cariboo Gold Project
Canada NewsWire
TORONTO, May 29, 2019
2.4 MILLION OUNCES TOTAL MEASURED AND INDICATED, AND 1.9 MILLION OUNCES INFERRED
image: mma.prnewswire.com
TORONTO, May 29, 2019 /CNW/ - Barkerville Gold Mines Ltd. (BGM – TSX-V) ("BGM" or the "Company") is pleased to announce the updated underground resource estimate for Cow, Island and Barkerville Mountain deposits at its 100% owned Cariboo Gold Project located in Wells, B.C.
Cariboo Gold Project Mineral Resource
Measured and Indicated Resource of 2.4 million ounces of gold (13.2 million tonnes grading 5.6 g/t Au) a 50% increase from the 2018 resource;
Inferred Mineral Resource of 1.9 million ounces of gold in the inferred category (12 million tonnes grading 5.0 g/t Au);
The mineral resource estimate has factored in the internal dilution which allows BGM to consider larger mining methods in some of the deposit areas to reduce operating costs in a future scale operation, allows potential for better resource to reserve conversion, and better continuity;
The 2019 Mineral Resource estimate on Cow and Island Mountains covers the corridor of the Cow, Valley, Shaft, and Mosquito deposits over a strike length of 3.7 kilometers, a maximum width of approximately 700 meters, down to a maximum depth of 600 meters and an average depth of 350 meters below surface;
249 vein corridors were modelled with average dimensions of 300 meters by 300 meters by 3 meters with thickness of the vein corridors ranging from 2 meters to 40 meters;
The BC Vein deposit is 1.7 kilometers in strike length, 0.5 meters to 37 meters in thickness, and 400 meters in depth.
The mineral resource estimate incorporates the Cow and Valley Zones on Cow Mountain, Shaft and Mosquito Creek Zones on Island Mountain and BC Vein and Bonanza Ledge on Barkerville Mountain at a cut-off grade of 3.0 g/t Au ("grams per metric tonne"). The resource is defined over 6 kilometers of BGM's 67-kilometer-long land package. Infill and exploration drilling are ongoing on the property. The mineral resource estimate was conducted by Talisker Exploration Services Inc. under the supervision of InnovExplo Inc., an independent consulting firm based out of Val-d'Or, Quebec. A video summarizing the mineral resource estimate is present in this press release.
The mineral resource estimate for Cow and Island Mountain deposits is built upon over 400,000 meters from BGM's 2015 to 2018 drill campaigns, and historically verified drill data using a total of 3,426 drillholes. A strong understanding of the controls of mineralization enabled the Company's technical team to construct a mineral resource estimate constrained by lithology, alteration, structure and mineralization. The mineral resource estimate is supported by a robust 3D litho-structural model of the gold-bearing vein corridors. The 2018 exploration and category conversion drill program was successful in improving the precision of vein corridors; a total of 249 vein corridor solids were individually modelled. Average dimensions of a vein corridor are 300 meters by 300 meters by 3 meters with thickness of the vein corridors ranging from 2 meters to 40 meters. The resource estimate includes the internal dilution of the sandstone host within the vein corridors. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. Additional models were made for Bonanza Ledge and BC Vein. Table 1 summarizes the Mineral Resource estimate and Tables 2 and 3 demonstrate the grade sensitivity of the resource model at varying cut off grades. A 3D model with the updated geological model and block model is available on the link below.
c212.net
Table 1: 2018 Cariboo Gold Project Mineral Resource Estimate reported at a 3.0 g/t Au cut-off grade for an underground scenario
Cariboo Gold Project Mineral Resources
| Deposit
| Tonnes
| Au
| Au Oz
|
| (000)
| (g/t)
| (000)
| Measured
|
|
|
| Bonanza Ledge
| 175
| 6.1
| 34
| Indicated
|
|
|
| Bonanza Ledge
| 55
| 4.6
| 8
| BC Vein
| 734
| 5.6
| 132
| Mosquito
| 542
| 7.1
| 124
| Shaft
| 7,200
| 5.6
| 1,300
| Valley
| 1,212
| 5.3
| 208
| Cow
| 3,578
| 5.5
| 637
| Inferred
|
|
|
| BC Vein
| 87
| 3.6
| 10
| Mosquito
| 690
| 6.5
| 144
| Shaft
| 5,817
| 5.0
| 941
| Valley
| 3,475
| 4.9
| 545
| Cow
| 1,867
| 4.7
| 282
|
Total Measured and Indicated
| 13,495
| 5.6
| 2,443
| Total Inferred
| 11,936
| 5.0
| 1,922
|
Mineral Resource Estimate notes:
Christine Beausoleil, P.Geo and Carl Pelletier, P.Geo, of InnovExplo Inc. has reviewed and validated the mineral resource estimate for Cow, Mosquito, Shaft, Valley and BC Vein deposits and updated the Bonanza Ledge mineral resource estimate. Both are independent "Qualified Person" (as defined in NI 43-101) responsible for the 2019 mineral resource estimate. The effective date of the 2019 mineral resource estimate is May 29, 2019; Specific extraction methods are used only to establish reasonable cut-off grades for various portions of the deposit. No Preliminary Economic Analysis, Pre-Feasibility Study or Feasibility Study has been completed to support economic viability and technical feasibility of exploiting any portion of the mineral resource, by any particular mining method The mineral resources disclosed in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") standards on mineral resources and reserves definitions, and guidelines prepared by the CIM standing committee on reserve definitions and adopted by the CIM council; Mineral resources are not mineral reserves and do not have demonstrated economic viability; Geologic and vein corridor modeling of Cow, Valley, Shaft, Mosquito and BC Vein were completed by BGM Chief Resource Geologist Tessa Scott, P.Geo. and BGM Geologists Natalie Cook, GIT. and Raja Yarra, GIT. The Resource Estimation was completed by Talisker Exploration Services Geologist Leonardo Souza, MAusIMM (CP); A total of 249 vein corridors were modelled for Cow and Island Mountains deposits, and a total of two (2) gold zones for Barkerville Mountain Deposits. A minimum true thickness of 2.0 m was applied, using the grade of the adjacent material when assayed, or a value of zero when not assayed; The estimate is reported for a potential underground scenario at cut-off grades of 3.0 g/t Au. The cut-off grades were calculated using a gold price of USD1,300 per ounce, a CAD:USD exchange rate of 1.3; mining cost of $42/t; processing cost of $75/t; and G&A of $22/t. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rate, mining cost, etc.); A density of 2.8 g/cm3 was established for all zones of Cow, Valley and Shaft, 2.76 for Mosquito, 2.72 g/cm3 for BC Vein zone and 3.2 g/cm3 for Bonanza Ledge zone; A three-step capping procedure has been applied to composite data for Cow, Valley, Shaft, Mosquito and BC Vein zones. Restricted search ellipsoids were used varying from 10 to 60 g/t Au at three different distance varying from 25 to 100 m for each deposit. Bonanza Ledge high-grade capping was done on composited data at 70 g/t Au; Resources for Cow, Valley, Shaft, Mosquito and BC Vein zones were estimated using Datamine Studio RM 1.3 software using hard boundaries on composited assays (Cow 3.0 m, Valley 1.5 m, Shaft 2.0 m, Mosquito 3.0 m and BC Vein 1.6 m). Ordinary Kriging interpolation method was used in a sub-blocked model (parent block size = 5 meters x 5 meters x 5 meters). Resources for Bonanza Ledge were estimated using GEOVIA GEMS 6.7 software using hard boundary on composited assays at 2.0 m. Ordinary Kriging interpolation method was used in a block model (block size = 2 m x 2 m x 5 m); Results are presented in-situ, with minimum width diluted to 2 meters. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (meters, tonnes, g/t). The number of metric tons was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101; Neither the Company nor InnovExplo Inc. is aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate other than disclosed in the 2018 NI 43-101 Technical Report for the Cariboo Gold Project and Mineral Resource Estimate by InnovExplo Inc.
Table 2: Grade Sensitivity on Measured and Indicated Resource categories for the Cariboo Gold Project
All Deposits
| Cut-Off grade
| Ore Tonnes
| Grade
| Contained Au
|
| (Mt)
| Au (g/t)
| (Moz)
| 1.0
| 30.4
| 3.6
| 3.5
| 1.5
| 24.8
| 4.1
| 3.2
| 2.0
| 20.4
| 4.6
| 3.0
| 2.5
| 16.7
| 5.1
| 2.7
| 3.0
| 13.5
| 5.6
| 2.4
| 3.5
| 11.0
| 6.2
| 2.2
| 4.0
| 9.0
| 6.7
| 1.9
| 4.5
| 7.4
| 7.3
| 1.7
| 5.0
| 6.0
| 7.8
| 1.5
|
Table 3: Grade Sensitivity on Inferred Resource category for the Cariboo Gold Project
All Deposits
| Cut-Off grade
| Ore Tonnes
| Grade
| Contained Au
|
| (Mt)
| Au g/t
| (MOz)
| 1.0
| 29.2
| 3.2
| 3.0
| 1.5
| 23.8
| 3.6
| 2.8
| 2.0
| 19.4
| 4.0
| 2.5
| 2.5
| 15.3
| 4.5
| 2.2
| 3.0
| 11.9
| 5.0
| 1.9
| 3.5
| 9.4
| 5.5
| 1.7
| 4.0
| 7.2
| 6.0
| 1.4
| 4.5
| 5.6
| 6.5
| 1.2
| 5.0
| 4.3
| 7.1
| 1.0
|
The vein corridors are modelled to an average depth of 350 meters, exploration drilling has intersected mineralization at depths below 700 meters from surface. BGM is currently drilling down dip and along strike of mineralized vein corridors to define additional resources at Cow and Island Mountain. BGM intends to drill from underground infrastructure once permitting and construction of an exploration drift is complete. The robust 3D litho-structural model that defines the controls of mineralization allows the exploration team to define additional mineral resource much more efficiently, lowering the cost per discoverable ounce. This model can be applied to the remaining 65 kilometers of strike.
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), an updated technical report for the Cariboo Gold Project will be filed on SEDAR and the Company's website within 45 calendar days of this disclosure.
Chris Lodder, President and CEO of BGM commented, "The continuing resource growth shows improved knowledge of the grade distribution, vein corridor thickness and continuity within and at depth and on strike as a function of the infill drilling. Drilling will now continue to add upside not just within the current resource area but all along the 67 km mineralized trend controlled by BGM."
About the Cariboo Gold Project
The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. BGM's Cariboo Gold Project mineral tenures cover 1,950 square kilometers; along a strike length of 67 kilometers 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 upgrading and expanding the May 2018 43-101 resource within the 8 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 completing required studies in order to permit underground mining on Cow and Island Mountains.
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.
QA/QC and Core Sampling Protocols
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).
Qualified Persons and 43-101 Disclosure
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.
The Independent and Qualified Persons for the Mineral Resources Estimate update, as defined by NI 43-101, is Christine Beausoleil, P.Geo., and Carl Pelletier, P.Geo., both of InnovExplo Inc. and confirm having reviewed this press release and that the scientific and technical information is consistent.
ON BEHALF OF THE BOARD
"Chris Lodder"
Chris Lodder, President, CEO & Director
image: mma.prnewswire.com
SOURCE Barkerville Gold Mines Ltd.
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Chris Lodder, President and Chief Executive Officer, 155 University Avenue, Suite 1410, Toronto, Ontario, Canada, clodder@barkervillegold.com, 416-775-3671Copyright CNW Group 2019
Canada Newswire
May 29, 2019 - 4:00 AM PDT
Tags:
INDUSTRIAL METALS & MINERALS
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| To: ayeyou who wrote (45) | 8/12/2019 3:17:46 PM | | From: Rocket Red | | | | https://www.thenewsleader.net/march-2015.html
March 31, 2015 - News Leader
LOOKING BACK TO CAWSTON MURDER
Thirty years ago, everyone in the Similkameen Valley was talking about the headless corpse found in an orchard on Ferko Road in Cawston. The corpse was identified as Florence Ottilie Deflers of Toulan, a small town near Paris, France. The head had been removed from her body by a very strong blow that cut one of her dangling earrings in half. Florence Deflers had been reported as missing in July, 1984. She had left her boyfriend’s residence in the Cariboo in late June to travel to Cawston to meet with friends. She bought some food at the health food store in Keremeos, then walked to Cawston to her friends’ house. They were not at home. Somehow, she arrived at the Nicholson home on Ferko Road. The Nicholsons were gone for the summer. The house was empty. Her boyfriend contacted the friends, then tried to contact her. The 26 year old French citizen was a student at a university in California. When she did not arrive at the university, and nobody had heard from her, her parents and her boyfriend became seriously worried. In November, her photograph appeared in a local newspaper asking for any information as to her whereabouts. Nobody came forward. Deflers father was an important member of the Paris media community, and he put pressure on Canada’s diplomats to find his daughter. The diplomats managed to put pressure on the RCMP, but there were no real leads. Deflers boyfriend heard of a psychic who had assisted police during the Clifford Olson murder investigations. The boyfriend contacted the psychic, taking personal belongings of Deflers to the psychic. The psychic said Deflers was located in an orchard in the Cawston area. The search for Deflers began and ended at the Nicholson property, where evidence had been found indicating Deflers had been there. When the Nicholsons had returned home in the autumn of 1984, they found a few women’s items that did not belong to them. They knew somebody had been in their home, but they did not know who it might have been. Then they found a paper bag containing food from the health food store, and they found Deflers wallet in the bag. They reported it to police.
Police swarmed the Nicholson property and found the shallow grave under a loose piece of plywood. The head was never found. A person who had been caretaking the property was arrested, but was acquitted in a trial held two years later. The true identity of the murderer remains a mystery. |
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| From: howestreetbull | 9/23/2019 8:31:40 AM | | | | | | by @newswire on 23 Sep 2019, 03:30
Osisko Gold Royalties To Acquire Barkerville Gold Mines
CREATION OF NORTH SPIRIT DISCOVERY GROUP
MONTRÉAL, Sept. 23, 2019 /CNW/ - Osisko Gold Royalties Ltd ("Osisko") (OR: TSX & NYSE) is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with Barkerville Gold Mines Ltd. ("Barkerville") (TSXV: BGM), pursuant to which Osisko has agreed to acquire all of the issued and outstanding common shares of Barkerville that it does not currently own, by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). Concurrent to the Arrangement, Osisko also announces the formation of the North Spirit Discovery Group, the next step in the evolution of Osisko's accelerator business that Osisko pioneered over the last five years, with the goal of privatizing and surfacing value in resource development projects.
Under the terms of the Arrangement, each shareholder of Barkerville (excluding Osisko) will receive 0.0357 (the "Exchange Ratio") of a common share of Osisko for each share of Barkerville held. The Exchange Ratio implies consideration of C$0.58 per Barkerville share, based on the closing price of Osisko shares on the Toronto Stock Exchange (TSX) on September 20, 2019, representing a 44% premium based on both companies' trailing 20-day volume weighted average price (VWAP) as at September 20, 2019. The Exchange Ratio implies a total equity value of approximately C$338 million on a fully-diluted in the money basis, inclusive of Barkerville shares held by Osisko.
Upon completion of the transaction, current Osisko and Barkerville shareholders will hold approximately 91% and 9% of Osisko shares outstanding, respectively.
Sean Roosen, chair of the board and CEO of Osisko, stated: "The addition of the Cariboo Gold project to our portfolio adds a potentially world-class asset in Canada in an impacted brownfield site with significant infrastructure in place. Osisko and Barkerville will take advantage of their combined mine building, exploration, permitting, development and construction expertise to advance the Cariboo gold project. Osisko expects to fund planned work through available liquidity, future revenue from royalties and streams, project debt as well as outside private equity and joint venture capital through the creation of the North Spirit Discovery Group."
In 2018, Osisko generated $82.2 million in operating cash flow at 89.5% cash margin1 and $46.1 million at 89.5% cash margin in the first six months of 2019. Osisko currently has over $800 million in financial capacity, including a $500 million available revolving credit facility.
Benefits to Barkerville Shareholders:
Immediate and significant premium of 44% based on both companies' 20-day VWAPs;Continued exposure to the Cariboo project in a broader, more diversified company;Acceleration and enhancement of development of the Cariboo project by leveraging Osisko's proven technical team;Certainty of funding through Osisko's strong balance sheet and access to capital to advance the Cariboo project on-schedule;Direct exposure to a high gold price environment through Osisko's strong and growing cash flows; andOsisko shares offer substantially greater trading liquidity and an attractive dividend.
Benefits to Osisko Shareholders:
Greater exposure to a unique, high quality advanced development project in Canada with world-class potential;Allows Osisko to drive the development strategy and provides greater certainty with respect to the timeline to production for the Cariboo project;Ability to achieve stronger shareholder returns through full ownership and control, as compared to Osisko's current equity position in a Barkerville stand-alone development scenario;Meaningfully accretive on a net asset value basis for Osisko;Further enhances Osisko's peer leading growth profile; andSubstantially increases cash flow and net asset value contribution from Canada.
Creation of the North Spirit Discovery Group
Concurrent to the Arrangement, Osisko announces the creation of the North Spirit Discovery Group ("North Spirit Discovery"), its new project development platform. North Spirit Discovery is the next step in the evolution of Osisko's accelerator business that Osisko pioneered over the last five years, with the goal of privatizing and surfacing value in resource development projects. Through this platform, Osisko will leverage its industry-leading technical team with a proven track record of creating value through resource discovery, project development and mine operation. North Spirit Discovery aims to become a leading resource development and finance company with the assistance of joint venture partners and/or private equity capital.
Particulars of the Transaction
Under the terms of the Arrangement Agreement, holders ("Barkerville Shareholders") of the common shares of Barkerville (the "Barkerville Shares") will be entitled to receive 0.0357 of a common share of Osisko (each whole share, an "Osisko Share") in exchange for each Barkerville Share held immediately prior to the effective time of the Arrangement, representing an implied offer price of C$0.58 per Barkerville Share based on Osisko's closing price as of September 20, 2019 on the TSX and a premium of 44% based on both companies' trailing 20-day VWAP as at September 20, 2019 (being the last trading day prior to the announcement of the Arrangement).
The Arrangement will require the approval of Barkerville Shareholders at a special meeting expected to take place in November 2019 (the "Barkerville Meeting"). In order to become effective, the Arrangement must be approved at the Barkerville Meeting by (i) at least 66? percent of the votes cast by Barkerville Shareholders, and (ii) a simple majority of the minority held in accordance with Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions. Directors and officers of Barkerville and certain Barkerville Shareholders holding approximately 17.9% of the issued and outstanding Barkerville Shares have entered into voting and support agreements with Osisko in support of the Arrangement. The board of directors of Barkerville, on the recommendation of its independent special committee, has unanimously approved the Arrangement and will recommend that Barkerville Shareholders vote FOR the Arrangement.
The Arrangement Agreement includes representations, warranties and covenants typical of a transaction of this nature, including with respect to non-solicitation, a right to match, and a fiduciary-out. In addition, Barkerville has agreed to pay a termination fee of C$9.8 million to Osisko upon the occurrence of certain events. The Arrangement Agreement, which describes the full particulars of the Arrangement, will be made available on SEDAR under the issuer profile of Barkerville at www.sedar.com.
Osisko holds approximately 32.6% of the outstanding Barkerville Shares, accordingly, the Arrangement will be a non-arm's length transaction for the purposes of the policies of the TSXV and a "business combination" under Multilateral Instrument 61-101.
Osisko has also agreed to provide Barkerville with a C$7 million unsecured bridge loan (the "Bridge Loan") to allow Barkerville to continue to advance the exploration and development of the Cariboo gold project. The Bridge Loan will have an interest rate of 10% per annum and a term to maturity of six months. The Bridge Loan may be increased to C$13 million, subject to approval of both Osisko and Barkerville.
It is anticipated that the Arrangement will be completed in November 2019. Further information regarding the Arrangement will be contained in a management information circular that Barkerville will prepare, file and mail to the Barkerville securityholders in connection with the Barkerville Meeting. All securityholders are urged to read the information circular once available as it will contain additional important information concerning the Arrangement.
Board of Director's Recommendation and Voting Support
The Arrangement has been unanimously approved by the Board of Directors of both Barkerville and Osisko. Mr. Sean Roosen noted his conflict as a Director of both Osisko and Barkerville and recused himself from the negotiations leading up to this announcement. The Arrangement was negotiated on behalf of Osisko by a special committee of independent Directors of Osisko (the "Osisko Special Committee").
The Arrangement was negotiated on behalf of Barkerville by a special committee of independent Directors of Barkerville (the "Barkerville Special Committee"). In reaching its conclusions, the Board of Directors received the unanimous recommendation of the Barkerville Special Committee and two fairness opinions with respect to the consideration to be received by Barkerville Shareholders.
Advisors and Counsel
National Bank Financial is acting as exclusive financial advisor to Osisko. Bennett Jones LLP is acting as legal counsel to Osisko and the Osisko Special Committee.
Maxit Capital LP is acting as financial advisor to Barkerville. Fasken Martineau DuMoulin LLP is acting as special legal counsel to Barkerville and the Barkerville Special Committee. The Barkerville Special Committee also retained PI Financial Corp. to prepare a fairness opinion. Maxit Capital LP and PI Financial Corp. each provided a fairness opinion to Barkerville's Special Committee and Board of Directors, to the effect that, as of the date of such opinions, the consideration to be received by holders of Barkerville common shares (excluding Osisko), is fair, from a financial point of view, to such holders, in each case, subject to the respective limitations, qualifications and assumptions set forth in such opinions. The written fairness opinions from Maxit Capital LP and PI Financial Corp. will be set out in the Barkerville management information circular.
Conference Call Details
Osisko will host a conference call on Monday, September 23, 2019 at 8:30 am EDT to discuss the transaction announced in this press release.
Those interested in participating in the conference call should dial in at 1 (877) 223-4471 (North American toll free), or 1 (647) 788-4922 (international). An operator will direct participants to the call.
The conference call replay will be available from 11:30 am EDT on September 23, 2019 until 11:59 pm EDT on September 30, 2019 with the following dial in numbers: 1-(800) 585-8367 (North American toll free) or 1 (416) 621-4642, access code 9988832.
About Barkerville Gold Mines Ltd.
Barkerville Gold mines Ltd. 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 Corporation has unlocked the fundamental structural controls of gold mineralization. Barkerville's brownfields exploration team is focused on developing and delineating a mineable resource within the 8 kilometers of principle project area located near the town of Wells, British Columbia. Barkerville's greenfields team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration. The operation's team is focused on completing required studies in order to permit underground mining on Cow and Island Mountains.
About Osisko Gold Royalties Ltd
Osisko Gold Royalties Ltd is an intermediate precious metal royalty company that holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its 5% NSR royalty on the Canadian Malartic Mine, which is the largest gold mine in Canada. Osisko also owns a portfolio of publicly held resource companies, including a 32.6% interest in Barkerville Gold Mines Ltd. and a 4% NSR royalty on the Cariboo Gold project, a 19.9% interest in Falco Resources Ltd and a 16.4% interest in Osisko Mining Inc.
Osisko is a corporation incorporated under the laws of the Province of Québec, with its head office is located at 1100 avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
Forward-looking Statements
This Osisko and Barkerville joint press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation. Such statements concern Osisko's and Barkerville's future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "pro-forma", "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might", "be taken", "occur" or "be achieved". Such forward-looking information may include, without limitation, statements regarding the completion and expected benefits of the proposed business combination and other statements that are not historical facts. Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the businesses and markets in which each of Osisko and Barkerville operate, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Assumptions upon which forward-looking statements relating to the business combination have been made include that Osisko and Barkerville will be able to satisfy the conditions in the arrangement agreement, that any materially adverse facts or circumstances will not be identified, that the required approvals will be obtained from the shareholders of Barkerville, that all required third party, and that regulatory, court and government approvals will be obtained. Osisko and Barkerville caution that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Osisko's and Barkerville's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to: fluctuations in the prices of the commodities that drive royalties held by Osisko or the business conducted by Barkerville; fluctuations in the value of the Canadian dollar relative to the U.S. dollar; risks related to the operators of the properties in which Osisko holds an interest; development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Osisko and Barkerville hold a direct or indirect interest; rate and timing of production differences from resource estimates or production forecasts by Barkerville or be the operators of properties in which Osisko holds a royalty or other interest; risks and hazards associated with the business of exploring, development and mining on any of the properties of Barkerville or in which Osisko holds a royalty or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters or civil unrest; regulatory changes by national and local government, including corporate law, permitting and licensing regimes and taxation policies; regulations and political or economic developments in Canada where Barkerville operates, or in any of the countries where properties in which Osisko holds a royalty or other interest are located or through which they are held); continued availability of capital and financing and general economic, market or business conditions; business opportunities that become available to, or are pursued by Osisko and Barkerville; the possibility to acquire royalties, to fund exploration and development activities, and to fund precious metal streams; other uninsured risks. The forward looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties of Barkerville and those in which Osisko holds a royalty or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset of each company; no adverse development in respect of any significant property of Barkerville or in which Osisko holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. In addition, the factors described, referred to, or incorporated by reference in the section entitled "Risk Factors" in the most recent Management Discussion and Analysis of each of Barkerville and Osisko and the in the section entitled "Risk Facts" in the Barkerville Circular, once filed, should be reviewed in conjunction with the information found in this press release, all of which is, or will be, available on SEDAR at www.sedar.com. Although Osisko and Barkerville have attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the proposed business combination could be modified, restricted or not completed, and the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Osisko and Barkerville disclaim any intention or obligation to update or revise such information, except as required by applicable law and neither Osisko nor Barkerville assume any liability for disclosure relating to the other company herein
___________________________
1 Cash margin is a non-IFRS financial performance measure which has no standard definition under IFRS. It is calculated by deducting the cost of sales from the revenues. The calculation of cash margins excludes offtakes.
SOURCE Barkerville Gold Mines Ltd.
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