BGM Intersects High Grade Gold at New Depths in BC Vein Phase I Drilling Program
VANCOUVER, BC / TheNewswire / November 23, 2015 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "BGM") is pleased to announce additional results from the ongoing Phase I drilling program on Barkerville Mountain at the Company's flagship Cariboo Gold Project (CGP). The results of these drillholes are presented in Table 1. A drillhole location plan map is available on the Company's website www.barkervillegold.com.
Drilling Highlights (*):
-
-BGM-15-087: 23.47 g/t (0.68 oz/t) Au over 3.00 metres including 47.40 g/t (1.38 oz/t) Au over 1.20 metres
-BGM-15-089: 12.37 g/t (0.36 oz/t) Au over 3.00 metres including 27.17 g/t (0.79 oz/t) Au over 1.00 metres
-BGM-15-090: 13.21 g/t (0.39 oz/t) Au over 9.00 metres including 18.32 g/t (0.53 oz/t) Au over 4.80 metres including 62.38 g/t (1.82 oz/t) Au over 1.00 metres
-BGM-15-092: 17.00 g/t (0.50 oz/t) Au over 4.45 metres including 31.44 g/t (0.92 oz/t) Au over 2.30 metres including 51.87 g/t (1.51 oz/t) Au over 1.30 metres
-BGM-15-096: 10.17 g/t (0.30 oz/t) Au over 5.00 metres including 21.85 g/t (0.64 oz/t) Au over 2.00 metres
-BGM-15-097: 5.27 g/t (0.15 oz/t) Au over 18.00 metres including 13.37 g/t (0.39 oz/t) Au over 5.70 metres including 24.86 g/t (0.73 oz/t) Au over 1.00 metres
-BGM-15-102: 22.48 g/t (0.66 oz/t) Au over 2.50 metres including 51.16 g/t (1.49 oz/t) Au over 1.00 metres
-BGM-15-109: 11.23 g/t (0.33 oz/t) Au over 4.05 metres including 23.51 g/t (0.69 oz/t) Au over 1.85 metres including 34.80 g/t (1.02 oz/t) Au over 0.75 metres
-BGM-15-109: 8.99 g/t (0.26 oz/t) Au over 2.80 metres including 10.70 g/t (0.31 oz/t) Au over 1.10 metres and 14.50 g/t (0.42 oz/t) Au over 0.80 metres
-BGM-15-110: 10.03 g/t (0.29 oz/t) Au over 5.00 metres including 13.60 g/t (0.40 oz/t) Au over 1.00 metres and 19.30 g/t (0.56 oz/t) Au over 1.00 metres
Note:
(*) Core lengths represent 70-90% true widths.
"This discovery gives us confidence in our focused and disciplined exploration program ?and also our decision to
[ANNOTATION:
BY 'Paul Geddes'
ON '2015-11-22T16:46:00'PG
NOTE: 'This is very committal - are we going down this road?'
NOTE: '']potentially restart production at the Bonanza Ledge Mine. Additional drilling in this area will focus on confirming the newly outlined mineralization and defining the boundaries of the zones. These new high grade drill intercepts provide strong evidence that the BC Vein mineralization continues at depths greater than 400 meters." - Tom Obradovich, President and CEO
Discussion of Results:
Having successfully completed the first tier (surface to -150 metres vertical depth), of widely spread out, 50 metre spaced drillholes along the 1,400 metre known strike of the BCV structure, the Company is now systematically testing at depth priority areas of this high grade vein system with aggressive
100 metre drillhole spacings in an effort to define the outer limits of this large and laterally continuous mineralized system. Drillholes BGM-15-109: 8.99 g/t (0.26 oz/t) Au over 2.80 metres including 10.70 g/t (0.31 oz/t) Au over 1.10 metres and 14.50 g/t (0.42 oz/t) Au over 0.80 metres, and BGM-15-110:
10.03 g/t (0.29 oz/t) Au over 5.00 metres including 13.60 g/t (0.40 oz/t) Au over 1.00 metres and
19.30 g/t (0.56 oz/t) Au over 1.00 metres have intersected the BCV at vertical depths of -350 and -400 metres vertically below surface and now represent the deepest intersections ever recorded on the BCV structure. Although somewhat shallower at only -170 metres below surface, BGM-15-089 intersected 12.37 g/t (0.36 oz/t) Au over 3.00 metres including 27.17 g/t (0.79 oz/t) Au over 1.00 metres in the BCV and represents a possible extension of the gold mineralization encountered in historical drillhole
BC-00-33 which graded 22.74 g/t Au (0.66 oz/t) Au over 4.11 metres 80 metres along strike to the southeast and immediately below the Bonanza Ledge open pit. The area between these two drillholes has never been drill tested and remains open to depth.
Hangingwall Veins (HWV), continue to be intersected above the BCV as per drillhole BGM-15-078 which intersected 8.94 g/t (0.26 oz/t) Au over 4.35 metres including 13.38 g/t (0.39 oz/t) Au over 2.75 metres and 25.00 g/t (0.73 oz/t) Au over 0.75 metres.
Additionally, as part of the exploratory drill testing of auriferous soil anomalies on Barkerville Mountain, two new occurrences have been discovered by drillholes BGM-15-102: 22.48 g/t (0.66 oz/t) Au over 2.50 metres including 51.16 g/t (1.49 oz/t) Au over 1.00 metres and BGM-15-109: 11.23 g/t (0.33 oz/t) Au over 4.05 metres including 23.51 g/t (0.69 oz/t) Au over 1.85 metres including 34.80 g/t (1.02 oz/t) Au over 0.75 metres occurring at -10 and -180 metres vertically below surface respectively. These two new occurrences remain untested in all directions and will be followed up with additional drilling in Q1 2016.
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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-15-078 through BGM-15-110:
| HOLE-ID | FROM (M) | TO (M) | CORE LENGTH (M) | AU (G/T) | AU (OZ/T) | AREA |
| BGM-15-078 | 52.25 | 56.60 | 4.35 | 8.94 | 0.26 | HWV |
| INCL | 52.25 | 55.00 | 2.75 | 13.38 | 0.39 | HWV |
| INCL | 52.25 | 53.00 | 0.75 | 25.00 | 0.73 | HWV |
| AND | 53.00 | 54.00 | 1.00 | 12.50 | 0.36 | HWV |
| BGM-15-078 | 179.78 | 180.80 | 1.02 | 8.30 | 0.24 | BCV |
| BGM-15-079 | 111.50 | 122.00 | 10.50 | 5.44 | 0.16 | BL |
| INCL | 119.00 | 122.00 | 3.00 | 11.39 | 0.33 | BL |
| INCL | 119.00 | 120.50 | 1.50 | 17.40 | 0.51 | BL |
| BGM-15-080 | 138.50 | 139.30 | 0.80 | 1.71 | 0.05 | BCV |
| BGM-15-080 | 145.00 | 148.00 | 3.00 | 1.38 | 0.04 | BCV |
| BGM-15-081 | 171.00 | 173.90 | 2.90 | 3.47 | 0.10 | BCV |
| BGM-15-082 | 23.77 | 28.90 | 5.13 | 9.05 | 0.26 | AG |
| INCL | 24.70 | 25.55 | 0.85 | 13.57 | 0.40 | AG |
| AND | 26.50 | 27.50 | 1.00 | 12.16 | 0.35 | AG |
| AND | 27.50 | 28.90 | 1.40 | 10.59 | 0.31 | AG |
| BGM-15-083 | NSA | |||||
| BGM-15-084 | NSA | |||||
| BGM-15-085 | 93.00 | 95.00 | 2.00 | 1.84 | 0.05 | HWV |
| BGM-15-086 | NSA | |||||
| BGM-15-087 | 113.00 | 122.00 | 9.00 | 8.79 | 0.26 | BCV |
| INCL | 113.00 | 116.00 | 3.00 | 23.47 | 0.68 | BCV |
| INCL | 113.00 | 113.50 | 0.50 | 9.16 | 0.27 | BCV |
| AND | 113.50 | 114.70 | 1.20 | 47.40 | 1.38 | BCV |
| BGM-15-088 | 146.00 | 150.25 | 4.25 | 5.56 | 0.16 | BCV |
| BGM-15-089 | 176.00 | 179.00 | 3.00 | 12.37 | 0.36 | BCV |
| INCL | 176.00 | 177.00 | 1.00 | 9.39 | 0.27 | BCV |
| AND | 178.00 | 179.00 | 1.00 | 27.17 | 0.79 | BCV |
| BGM-15-090 | 47.30 | 48.15 | 0.85 | 8.00 | 0.23 | HWV |
| BGM-15-090 | 86.50 | 90.00 | 3.50 | 6.48 | 0.19 | HWV |
| INCL | 86.50 | 87.70 | 1.20 | 13.04 | 0.38 | HWV |
| INCL | 86.50 | 87.00 | 0.50 | 18.80 | 0.55 | HWV |
| AND | 87.00 | 87.70 | 0.70 | 8.92 | 0.26 | HWV |
| BGM-15-090 | 117.00 | 126.00 | 9.00 | 13.21 | 0.39 | BCV |
| INCL | 118.00 | 119.00 | 1.00 | 9.35 | 0.27 | BCV |
| AND | 119.00 | 119.55 | 0.55 | 26.50 | 0.77 | BCV |
| AND | 121.20 | 126.00 | 4.80 | 18.32 | 0.53 | BCV |
| INCL | 124.00 | 125.00 | 1.00 | 62.38 | 1.82 | BCV |
| AND | 125.00 | 126.00 | 1.00 | 11.48 | 0.33 | BCV |
| BGM-15-091 | 134.25 | 135.30 | 1.05 | 3.36 | 0.10 | BCV |
| BGM-15-092 | 44.00 | 45.35 | 1.35 | 5.20 | 0.15 | HWV |
| BGM-15-092 | 76.56 | 77.95 | 1.39 | 3.02 | 0.09 | HWV |
| BGM-15-092 | 93.54 | 94.50 | 0.96 | 3.57 | 0.10 | HWV |
| BGM-15-092 | 138.00 | 139.50 | 1.50 | 3.44 | 0.10 | HWV |
| BGM-15-092 | 172.25 | 176.70 | 4.45 | 17.00 | 0.50 | BCV |
| INCL | 173.40 | 175.70 | 2.30 | 31.44 | 0.92 | BCV |
| INCL | 174.40 | 175.70 | 1.30 | 51.87 | 1.51 | BCV |
| BGM-15-093 | 105.20 | 107.00 | 1.80 | 1.64 | 0.05 | BCV |
| BGM-15-094 | NSA | |||||
| BGM-15-095 | NSA | |||||
| BGM-15-096 | 20.35 | 22.50 | 2.15 | 3.87 | 0.11 | HWV |
| BGM-15-096 | 90.50 | 92.00 | 1.50 | 1.80 | 0.05 | HWV |
| BGM-15-096 | 97.50 | 98.60 | 1.10 | 3.54 | 0.10 | HWV |
| BGM-15-096 | 103.50 | 108.50 | 5.00 | 10.17 | 0.30 | BCV |
| INCL | 103.50 | 105.50 | 2.00 | 21.85 | 0.64 | BCV |
| INCL | 103.50 | 104.50 | 1.00 | 20.30 | 0.59 | BCV |
| AND | 104.50 | 105.50 | 1.00 | 23.40 | 0.68 | BCV |
| BGM-15-097 | 86.00 | 87.00 | 1.00 | 9.42 | 0.27 | HWV |
| BGM-15-097 | 125.50 | 143.50 | 18.00 | 5.27 | 0.15 | BCV |
| INCL | 125.50 | 131.20 | 5.70 | 13.37 | 0.39 | BCV |
| INCL | 125.50 | 126.50 | 1.00 | 24.86 | 0.73 | BCV |
| AND | 127.50 | 128.50 | 1.00 | 12.63 | 0.37 | BCV |
| AND | 129.50 | 130.50 | 1.00 | 15.25 | 0.44 | BCV |
| BGM-15-098 | 41.50 | 42.60 | 1.10 | 6.72 | 0.20 | HWV |
| BGM-15-098 | 164.60 | 165.90 | 1.30 | 7.18 | 0.21 | BCV |
| BGM-15-098 | 168.90 | 171.10 | 2.20 | 7.27 | 0.21 | BCV |
| BGM-15-099 | 92.00 | 94.00 | 2.00 | 5.39 | 0.16 | FWV |
| BGM-15-099 | 110.40 | 111.90 | 1.50 | 6.36 | 0.19 | FWV |
| BGM-15-100 | NSA | |||||
| BGM-15-101 | 114.00 | 114.50 | 0.50 | 1.57 | 0.05 | BCV |
| BGM-15-102 | 16.50 | 19.00 | 2.50 | 22.48 | 0.66 | NEW |
| BGM-15-102 | 18.00 | 19.00 | 1.00 | 51.16 | 1.49 | NEW |
| BGM-15-102 | 163.50 | 164.00 | 0.50 | 3.32 | 0.10 | NEW |
| BGM-15-103 | NSA | |||||
| BGM-15-104 | 57.00 | 57.70 | 0.70 | 2.27 | 0.07 | BCV |
| BGM-15-105 | 65.00 | 66.85 | 1.85 | 3.57 | 0.10 | BCV |
| BGM-15-106 | NSA | |||||
| BGM-15-107 | 320.00 | 321.30 | 1.30 | 1.11 | 0.03 | BCV |
| BGM-15-108 | ASSAYS PENDING | |||||
| BGM-15-109 | 215.45 | 219.50 | 4.05 | 11.23 | 0.33 | NEW |
| INCL | 215.45 | 217.30 | 1.85 | 23.51 | 0.69 | NEW |
| INCL | 215.45 | 216.05 | 0.60 | 28.50 | 0.83 | NEW |
| AND | 216.55 | 217.30 | 0.75 | 34.80 | 1.02 | NEW |
| BGM-15-109 | 404.50 | 414.70 | 10.20 | 3.56 | 0.10 | BCV |
| INCL | 411.90 | 414.70 | 2.80 | 8.99 | 0.26 | BCV |
| INCL | 412.80 | 413.90 | 1.10 | 10.70 | 0.31 | BCV |
| AND | 413.90 | 414.70 | 0.80 | 14.50 | 0.42 | BCV |
| BGM-15-110 | 442.50 | 447.50 | 5.00 | 10.03 | 0.29 | BCV |
| INCL | 442.50 | 443.50 | 1.00 | 13.60 | 0.40 | BCV |
| AND | 443.50 | 444.50 | 1.00 | 19.30 | 0.56 | BCV |
| AND | 446.50 | 447.50 | 1.00 | 10.20 | 0.30 | BCV |
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. Conversion factor: 1.0 oz/t = 34.2857 g/t. AG - AG Horizon; BCV - BC Vein; HWV - Hanging Wall Vein; FWV - Footwall Vein; BL - Bonanza Ledge Horizon; NSA - No Significant Assays.
Table 2: Drillhole Collar Orientations:
| HOLE-ID | AZIMUTH | DIP | HOLE-ID | AZIMUTH | DIP | HOLE-ID | AZIMUTH | DIP |
| BGM-15-079 | 213.9 | -45.2 | BGM-15-091 | 222.7 | -64.6 | BGM-15-100 | 219.5 | -65.7 |
| BGM-15-078 | 221.2 | -75.7 | BGM-15-092 | 218.8 | -76.8 | BGM-15-101 | 218.0 | -77.2 |
| BGM-15-080 | 213.1 | -65.5 | BGM-15-093 | 223.8 | -45.5 | BGM-15-102 | 222.4 | -44.9 |
| BGM-15-081 | 210.7 | -77.4 | BGM-15-085 | 223.9 | -71.2 | BGM-15-103 | 185.0 | -43.2 |
| BGM-15-082 | 221.1 | -53.0 | BGM-15-086 | 312.9 | -46.0 | BGM-15-104 | 221.0 | -44.1 |
| BGM-15-083 | 223.5 | -49.6 | BGM-15-094 | 219.4 | -64.9 | BGM-15-105 | 217.6 | -64.3 |
| BGM-15-084 | 222.9 | -59.3 | BGM-15-095 | 220.3 | -77.3 | BGM-15-106 | 215.9 | -76.7 |
| BGM-15-087 | 227.4 | -45.5 | BGM-15-096 | 219.4 | -44.8 | BGM-15-107 | 218.8 | -53.0 |
| BGM-15-088 | 224.7 | -65.3 | BGM-15-097 | 219.4 | -64.7 | BGM-15-108 | 219.2 | -59.3 |
| BGM-15-089 | 222.7 | -77.4 | BGM-15-098 | 221.5 | -76.5 | BGM-15-109 | 212.8 | -71.0 |
| BGM-15-090 | 222.3 | -44.7 | BGM-15-099 | 220.1 | -45.1 | BGM-15-110 | 211.4 | -77.3 |
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