Bralorne Gold Mines Ltd.: Exploration Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/20/11 -- Bralorne Gold Mines Ltd. (the 'Company') (TSX VENTURE: BPM)(PINK SHEETS: BPMSF)(BERLIN: GV7)(FRANKFURT: GV7)(WKN A0B75M) is pleased to provide the following update of activities at its Bralorne mine operation located near Gold Bridge, British Columbia.
DIAMOND DRILLING
Positive results were obtained recently for two surface holes that intersected the BK-3 zone. Hole SB11-011 assayed 0.20 ounce per ton gold over a core length of 3.8 feet, and SB11-013 assayed 0.67 ounce per ton gold over a core length of 1.8 feet. So far, the 2011 drilling results indicate the BK-3 mineralization extends up dip at least 250 feet beyond what was previously defined.
Positive results were also obtained for an underground hole that was drilled through the BK-North vein (BKN). Hole UB11-003 intersected 0.64 ounce per ton gold over a core length of 2.7 feet. This intercept is situated about 90 feet along strike from the previously announced intercept for hole UB-002, which assayed 6.59 ounce gold per ton over 0.9 feet. The BKN structure is a newly recognized vein that lies approximately 150 feet north of and parallel to the BK vein. Recent 3-D modeling of the vein in this area suggests that the high grade intercepts in hole SB06-109b (1.1 foot vein of 11.781 ounce gold per ton and 1.2 foot of 7.203 ounce gold per ton) are also on the BKN vein instead of the BK vein as was previously interpreted. The mineralization encountered in hole UB11-03 is correlated with one the of the six new parallel structures to the BK vein identified in the news release dated August 3, 2011. More drilling is planned for this vein from underground.
To date, a total of 25 holes have been completed for a total of 12,094 feet of core, with most of the holes targeted at the BK-3 Zone. Twenty-one holes were drilled from surface, twelve of which intersected the extension of the BK3 zone above the targeted area for the decline. Three holes have been completed with the underground rig to test above the BK 800 stope. Significant intercepts obtained so far are listed in the table below.
Table of Significant Intercepts for 2011 Drill Holes (Sept 20, 2011)
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Core
Inter- True
From To val Width Au Au
Hole Az. Inc. (ft) (ft) (ft) (ft) (oz/ton) (g/T) Comment Target
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SB11-001 350 -52 369.3 376.9 7.6 4.1 0.14 4.68 QV BK-3
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SB11-001 350 -52 915.0 917.0 2.0 1.1 2.72 93.40 QSTZ BKN
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SB11-005 350 -55 396.0 397.4 1.4 0.8 0.21 7.15 QV BK-3
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SB11-006 0 -50 316.3 320.1 3.8 2.5 0.37 12.60 QSTZ BK-3
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SB11-007 347 -46 287.7 291.8 4.1 2.7 0.13 4.31 QV BK-3
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SB11-011 352 -54 146.0 149.8 3.8 2.2 0.20 6.75 QV BK-3
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SB11-013 40 -47 194.7 196.5 1.8 1.2 0.67 22.85 QV BK-3
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UB11-001 171 24 497.4 499.5 2.1 1.9 0.20 6.77 QV BK-800
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UB11-001 171 24 328.3 329.6 1.3 0.3 0.25 8.57 QV BKN
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UB11-002 173 30 530.2 531.2 1.0 0.8 0.25 8.46 QV BK-800
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UB11-002 173 30 361.8 362.9 1.1 0.9 6.59 226.00 QV BKN
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UB11-003 187 23 333.3 336.0 2.7 2.4 0.64 21.95 QV BKN
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Abbreviations: QV=quartz vein, QSTZ=quartz veinlet zone, oz/ton= ounce per
short ton, Au = gold, Az.=azimuth, Inc.=inclination, ft=feet
Cautionary Note: The company considers all intercepts assaying 0.1 oz/ton Au or greater as significant, but cautions that these intercept data are preliminary in nature and not conclusive evidence of the likelihood of the occurrence of an economic mineral deposit.
All holes were drilled at NQ size and the core was cut in half for sample collection. One half of the core was sent for analysis at Eco Tech Laboratory Ltd. at Kamloops, BC. Eco Tech is part of the Stewart Group of companies and currently applies a quality management system at this particular laboratory that is certified to meet the requirements of ISO9001:2008 for geochemical assay services. Gold concentration in quartz veins was determined by the metallics fire assay method. Quality control for fire assays is monitored by inclusion of reference standards and blank samples at a frequency of 20% each. Duplicate analyses will be performed on rejects of selected samples.
BK DEVELOPMENT
The BK decline was advanced 58 feet toward the upper BK-3 mineralized zone in August, and a total of 461 feet remains to go until the mineralized zone is intersected at the 3700 foot elevation. Also, an incline to intersect the vein at the 3900 foot elevation has been advanced 353 feet, approximately half of the designed length.
On the Bralorne 800 Level, a man-way raise is being driven from 800 level to the BK3 workings, and a drill station was excavated. Broken muck remaining in the BK 800 stope is continuing to be drawn and taken to the surface stockpile.
MILLING
Milling operations continued testing the bulk sample of stockpiled material, producing both gravity and flotation concentrates. Total year to date gold produced at the end of August was 2,003 ounces. Gold dore smelted from the gravity concentrate totaled 1,225 ounces, gold in flotation concentrate was 718 ounces with the balance of ounces being in-circuit inventory. The dore represents 61% of the gold production. As of August 31, a total of 8,579 tons (dry) had been milled, with an average feed grade of 0.254 ounce/ton gold and a recovery of 92%. Mill availability averaged 68%; downtime resulted from minor equipment failure; precautions have been taken to avoid future failures. The average throughput achieved was 83 tons per day for the days the mill operated. The Company is progressing towards an agreement for the sale of the flotation concentrate and is evaluating alternatives for shipping this material.
Dr. Matt Ball, P.Geo., Chief Operating Officer for the Company, is the Qualified Person who prepared the exploration information contained in this news release. Mr. Jasman Yee, P.Eng., Metallurgist, is the Qualified Person responsible for the mill results as reported.
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