BGM Discovers New High Grade Gold Horizon on Barkerville Mountain
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-New KL Horizon discovered approximately 500 m east of the Bonanza Pit and sub-parallel to the BC Vein, with multiple mineralized veins identified. Significant assays include;
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-8.38 gpt/1.77m (including 11.95 gpt/0.79m), and 13.47 gpt/0.52m and 6.09 gpt/0.95m in BGM-15-022
-5.65 gpt/1.5m, 4.83 gpt/4.8 m (including 15.04 gpt/0.8m, 6.01gpt/0.9m, 4.87gpt/1.0m), and 8.99 gpt/1.0m and 6.47gpt/1.2m in BGM-15-023
-6.39gpt/7.3m (including 15.63gpt/1.05m, 13.90gpt/0.6m, 15.09 gpt/1.25m), and 10.33 gpt/0.85m in BGM-15-024
-3.55 gpt/9.8m (including 7.39 gpt/0.8m, 5.58 gpt/4.25m, 7.03gpt/1.25m, 12.73 gpt/1.0m), 14.07 gpt/2.0m (including 9.09 gpt/1.0m, 19.04 gpt/1.0m) in BGM-15-025
-13.95 gpt/1.9m (including 15.34 gpt/1.6m) in BGM-15-027
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-KL Horizon outlined over a strike length of 60 metres and a vertical depth of 120 metres, and remains open in all directions.
VANCOUVER, BC / TheNewswire / September 15, 2015 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "BGM") is pleased to announce the discovery of a new high grade gold horizon (the "KL Horizon") 500 meters east of the Bonanza Ledge Open Pit and additional results from the ongoing Phase I drilling program on Barkerville Mountain at the Company's flagship Cariboo Gold Project ("CGP").
The location of the new KL Horizon was identified by previous operators by a marked, auriferous soil anomaly and was subsequently exposed by mechanical stripping in 2012. Surface sampling of the exposed bedrock yielded grab assays up to 167.42 g/t (4.88 oz/t) Au in an undrilled swarm of sulphide bearing quartz veins. The first pass of 2015 Phase I drilling has outlined the horizon over a strike length of 60 metres and to a vertical depth of 120 metres. The KL Horizon remains open at depth and along strike and is interpreted to represent a previously unidentified auriferous structure sub-parallel to the BCV.
Tom Obradovich, President and CEO of the Company commented "We are very pleased to have made a new discovery in a previously unexplored area which has never been drilled. The high grades we encountered on this first pass of shallow drilling and the consistency of the mineralization supports our belief that we are in the early stages of developing a large gold system."
Diamond drill holes BGM-15-022 through BGM-15-027 were designed to test the area devoid of historic drilling in the newly discovered KL Horizon, while diamond drill holes BGM-15-014 through BGM-15-021 were designed to explore the down dip extensions of the TC Area vein sets. The results of these diamond drill programs are presented below in Table 1. A drillhole location plan map is presented in Figure 1.
Two rigs are currently active systematically grid drilling the BC Vein on 50 metre centers. A third drill rig has been delivered and is being utilized to further expand the newly discovered KL Horizon as well as investigate additional soil anomalies on Barkerville Mountain.
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 on BGM Ltd., 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-15-014 through BGM-15-028.
| HOLE-ID | FROM (M) | TO (M) | CORE LENGTH (M) | AU (G/T) | AU (OZ/T) | COMMENT |
| BGM-15-014 | 32.35 | 33.70 | 1.35 | 8.92 | 0.26 | TC |
| INCL | 32.35 | 33.10 | 0.75 | 13.89 | 0.41 | TC |
| BGM-15-015 | 36.40 | 37.70 | 1.30 | 5.45 | 0.16 | TC |
| BGM-15-016 | 35.88 | 36.52 | 0.64 | 4.40 | 0.13 | TC |
| BGM-15-016 | 67.45 | 71.50 | 4.05 | 2.32 | 0.07 | TC |
| INCL | 68.46 | 69.50 | 1.04 | 5.74 | 0.17 | TC |
| BGM-15-016 | 135.13 | 135.90 | 0.77 | 4.38 | 0.13 | TC |
| BGM-15-017 | HOLE ABANDONED AT 37 METRES | |||||
| BGM-15-018 | 50.00 | 51.05 | 1.05 | 2.01 | 0.06 | TC |
| BGM-15-019 | 46.65 | 47.25 | 0.60 | 4.66 | 0.14 | TC |
| BGM-15-019 | 48.50 | 50.00 | 1.50 | 9.89 | 0.29 | TC |
| BGM-15-019 | 60.30 | 69.00 | 8.70 | 2.40 | 0.07 | TC |
| INCL | 60.30 | 61.00 | 0.70 | 7.69 | 0.22 | TC |
| AND | 68.45 | 69.00 | 0.55 | 5.30 | 0.15 | TC |
| BGM-15-019 | 138.00 | 139.50 | 1.50 | 3.15 | 0.09 | BCV |
| BGM-15-019 | 141.00 | 142.50 | 1.50 | 5.86 | 0.17 | BCV |
| BGM-15-019 | 170.00 | 171.50 | 1.50 | 2.56 | 0.07 | BL |
| BGM-15-020 | 41.90 | 42.65 | 0.75 | 14.02 | 0.41 | TC |
| BGM-15-020 | 55.50 | 56.35 | 0.85 | 3.80 | 0.11 | TC |
| BGM-15-020 | 86.00 | 87.50 | 1.50 | 3.30 | 0.10 | TC |
| BGM-15-020 | 125.00 | 127.00 | 2.00 | 4.36 | 0.13 | BCV |
| BGM-15-020 | 133.00 | 134.00 | 1.00 | 3.55 | 0.10 | BCV |
| BGM-15-021 | NO SIGNIFICANT ASSAYS | |||||
| BGM-15-022 | 22.91 | 23.44 | 0.53 | 4.17 | 0.12 | KLH |
| BGM-15-022 | 26.00 | 27.00 | 1.00 | 5.22 | 0.15 | KLH |
| BGM-15-022 | 28.75 | 30.52 | 1.77 | 8.38 | 0.24 | KLH |
| INCL | 29.73 | 30.52 | 0.79 | 11.95 | 0.35 | KLH |
| BGM-15-022 | 41.45 | 41.97 | 0.52 | 13.47 | 0.39 | KLH |
| BGM-15-022 | 127.50 | 128.00 | 0.50 | 3.18 | 0.09 | KLH |
| BGM-15-022 | 130.61 | 131.61 | 1.00 | 3.19 | 0.09 | KLH |
| BGM-15-022 | 142.99 | 143.97 | 0.98 | 4.28 | 0.12 | KLH |
| BGM-15-022 | 155.00 | 156.02 | 1.02 | 2.04 | 0.06 | KLH |
| BGM-15-022 | 177.45 | 178.40 | 0.95 | 6.09 | 0.18 | KLH |
| BGM-15-023 | 9.50 | 11.00 | 1.50 | 5.65 | 0.16 | KLH |
| BGM-15-023 | 46.20 | 51.00 | 4.80 | 4.83 | 0.14 | KLH |
| INCL | 46.20 | 47.00 | 0.80 | 15.04 | 0.44 | KLH |
| AND | 49.10 | 50.00 | 0.90 | 6.01 | 0.18 | KLH |
| AND | 50.00 | 51.00 | 1.00 | 4.87 | 0.14 | KLH |
| BGM-15-023 | 55.80 | 57.50 | 1.70 | 2.90 | 0.08 | KLH |
| BGM-15-023 | 77.50 | 78.50 | 1.00 | 8.99 | 0.26 | KLH |
| BGM-15-023 | 96.50 | 97.70 | 1.20 | 6.47 | 0.19 | KLH |
| BGM-15-024 | 34.55 | 36.00 | 1.45 | 3.15 | 0.09 | KLH |
| BGM-15-024 | 66.95 | 74.25 | 7.30 | 6.39 | 0.19 | KLH |
| INCL | 66.95 | 68.00 | 1.05 | 15.63 | 0.46 | KLH |
| AND | 68.00 | 68.60 | 0.60 | 13.90 | 0.41 | KLH |
| AND | 73.00 | 74.25 | 1.25 | 15.09 | 0.44 | KLH |
| BGM-15-024 | 110.85 | 111.70 | 0.85 | 10.33 | 0.30 | KLH |
| BGM-15-025 | 11.50 | 13.00 | 1.50 | 2.77 | 0.08 | KLH |
| BGM-15-025 | 35.20 | 45.00 | 9.80 | 3.55 | 0.10 | KLH |
| INCL | 35.20 | 36.00 | 0.80 | 7.39 | 0.22 | KLH |
| AND | 40.75 | 45.00 | 4.25 | 5.58 | 0.16 | KLH |
| INCL | 40.75 | 42.00 | 1.25 | 7.03 | 0.21 | KLH |
| INCL | 44.00 | 45.00 | 1.00 | 12.73 | 0.37 | KLH |
| BGM-15-025 | 143.00 | 145.00 | 2.00 | 14.07 | 0.41 | KLH |
| INCL | 143.00 | 144.00 | 1.00 | 9.09 | 0.27 | KLH |
| AND | 144.00 | 145.00 | 1.00 | 19.04 | 0.56 | KLH |
| BGM-15-026 | 12.50 | 14.00 | 1.50 | 1.31 | 0.04 | KLH |
| BGM-15-027 | 62.20 | 64.10 | 1.90 | 13.95 | 0.41 | KLH |
| INCL | 62.50 | 64.10 | 1.60 | 15.34 | 0.45 | KLH |
| BGM-15-027 | 73.00 | 86.70 | 13.70 | 1.03 | 0.03 | KLH |
| BGM-15-027 | 104.00 | 106.00 | 2.00 | 2.88 | 0.08 | KLH |
| BGM-15-027 | 109.50 | 111.00 | 1.50 | 2.39 | 0.07 | KLH |
| BGM-15-027 | 117.80 | 118.60 | 0.80 | 3.57 | 0.10 | KLH |
| BGM-15-027 | 130.50 | 132.60 | 2.10 | 3.52 | 0.10 | KLH |
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. 1 oz/t = 34.2857 g/t. BCV - BC Vein; HWV - Hanging Wall Vein; KLH - KL Horizon.
Figure 1: Drill Hole Location Plan Map
Click Image To View Full Size
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