Bralorne Receives Air & Effluent Permit to Begin Gold Production
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/04/11 -- Bralorne Gold Mines Ltd. (TSX VENTURE: BPM)(PINK SHEETS: BPMSF)(BERLIN: GV7)(FRANKFURT: GV7)(WKN A0B75M) (the 'Company') is pleased to announce that it has received all permits from the Ministry of Environment necessary to begin gold milling at the Bralorne camp. The permits authorize the Company to discharge effluent to the tailings impoundment from the gold mine and ore concentrator mill located near Gold Bridge, British Columbia.
Production will begin immediately at a nominal milling rate of 100 tons per day. Mill feed will initially come from the surface stockpile, which stands at 14,000 tons at an estimated grade of 0.368 ounce gold per ton for 5,150 ounces (12.6 grams per tonne). An additional broken inventory of 11,200 tons at an estimated grade of 0.464 ounce gold per ton for 5,200 ounces (15.9 grams per tonne) remains underground in the BK stope and will be fed to the mill after the surface stockpile has been depleted.
Development of other resource blocks is on-going to provide additional mill feed for the future. Resources accessible from the 800 level (excluding the BK 800 stope) include Measured Indicated resources of 68,700 tons at an estimated grade of 0.332 ounce per ton gold for 22,800 ounces (65,200 tonnes grading 11.4 grams per tonne gold), plus Inferred resources of 212,100 tons at an estimated grade of 0.353 ounce per ton gold for 74,800 ounces (65,200 tonnes grading 11.4 grams per tonne gold). The Company is actively exploring to increase the resource base.
The reader is cautioned that the above quoted resources have not been categorized as mineral Reserves and that there is no assurance that the mineral resources will be increased in confidence level by mine development work to be viable for mining. Viable operating and financial projections were made in a Preliminary Assessment dated 2005 and updated in 2007 based on a gold price of $600 per ounce and a milling rate of 280 tons per day. The mill is being started on a trial basis initially at 100 tons per day to assess the potential viability of the operation at the current gold price. The Company plans to increase the milling rate if and when sufficient resources are defined and developed.
All quoted grades are estimates based on various fire assay data. Resources are estimated mainly from diamond drill core assays done at Ecotech Laboratory in Kamloops, BC. Underground sample assays are done at the mine laboratory and verified by check assays done at Ecotech Laboratory. Typically, assays are done by the fire assay method using 1 assay ton charges. The metallics assay method is used for all mineralized vein samples. Quality control also includes monitoring results of blank and certified standard samples inserted at a frequency of 10%, and repeat assays of pulps done at Ecotech Laboratory. EcoTech is part of Stewart Group Inspection & Analysis and is a certified commercial laboratory.
Dr. Matt Ball, P.Geo., Chief Operating Officer for the Company, is the qualified person who prepared the technical information contained in this news release.
The Bralorne mine is located 150 air miles from Vancouver, BC. The Company is re-developing the former and very successful Bralorne, Pioneer and King gold mines. From 1928 to 1971, these three operations produced 4.15 million ounces of gold from 7.9 million tons of ore (equaling a grade of 0.53 ounces per ton). Bralorne, Pioneer and King represent the largest historic gold producers in the Canadian Cordillera. The Company remains well funded with no long-term or short-term debt.
For more information, please visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
William Kocken, President & Chief Executive Officer
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither 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.
Contacts:
Bralorne Gold Mines Ltd.
William Kocken
President & Chief Executive Officer
604.682.3701
604.682.3600 (FAX)
ir@bralorne.com
www.bralorne.com