SUBINTERVAL INCLUDES 158.19 G/T AU OVER 5.30 METRES

 

TORONTO, ON – September 26th, 2017 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration and infill drilling program at the Company’s flagship Cariboo Gold Project.  The Company is currently exploring and delineating the Valley and Shaft Zones with nine drill rigs, while a tenth drill is expanding the known mineralization on the BC Vein. Detailed drilling results, a drill hole location plan map and vertical section are presented at the end of this release. The exact geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time therefore core lengths are reported.

Highlights:

  • IM-17-142: 7.54 g/t Au over 14.30 metres
  • IM-17-142: 10.04 g/t Au over 8.20 metres
  • IM-17-151: 16.15 g/t Au over 3.55 metres
  • IM-17-151: 72.23 g/t Au over 12.05 metres
  • IM-17-152: 20.07 g/t Au over 4.25 metres

Alpha Corridor at Shaft Zone Demonstrates High Gold Tenor

The Company is very pleased to announce the intersection of the highest gold grades encountered at the Shaft Zone to date. Phase II infill drillhole IM-17-151 predictably intersected a modelled veining corridor now referred to as the ‘Alpha Corridor’, averaging 158.19 g/t Au over 5.30 metres including 750.00 g/t Au over 0.55 metres, 479.00 g/t Au over 0.50 metres and 234.00 g/t Au over 0.60 metres hosted within a larger interval grading 72.23 g/t Au over 12.05 metres. This Phase II drilling result is situated in the Shaft Zone at a vertical depth of 350 metres below surface and correlates spatially with previously reported drillhole IM-17-112 which intersected 11.37 g/t Au over 4.75 metres. The two drillholes are separated by a horizontal distance of 15 metres. This new intersection in the Alpha Corridor remains open for expansion along vein strike to the southwest of IM-17-151.

Development of Other Corridors

Phase II drillhole IM-17-142 intersected 10.04 g/t Au over 8.20 metres at a vertical depth of 350 metres below surface. This pierce point occurs 180 metres down vein dip of previously reported drillhole IM-17-141 which recently discovered a wide zone of veining grading 6.09 g/t Au over 20.40 metres. Situated 50 metres down vein plunge of the new IM-17-142 intersection, formerly disclosed drillhole IM-17-044 intersected two zones within the same corridor grading 21.23 g/t Au over 5.05 metres and 24.70 g/t Au over 6.60 metres.


 

Shaft Zone – Corridor Discussion

The sandstone hosted veining which constitutes the Alpha Corridor of the Shaft Zone is manifested as an anastomosing network of high vein density with an overall sub-vertical dip and northeast strike. Based upon drilling results to date, estimated horizontal widths of the Alpha Corridor are variable and range from 5 to 35 metres. This corridor, as well as others that are developing in the Shaft and Valley Zones have been defined from surface to a vertical depth of 600 metres and remain open for expansion to depth and down plunge. Drillhole spacing in the Alpha currently averages 25 metres between drilling sections with vertical drilling separations ranging from 20 to 75 metres with hole spacing increasing to depth. 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

 

Exploration activities at the Cariboo Gold Project are administered on site by the Company’s Exploration Manager, Maggie Layman, 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 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., and is overseen by the Company’s Qualified Person, Paul Geddes, 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).

 

For further information on Barkerville Gold Mines Ltd. please contact:

Chris Lodder

President & Chief Executive Officer

155 University Avenue, Suite 1440

Toronto, Ontario, Canada

[email protected]

 


 

About Barkerville Gold Mines Ltd.

 

The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s mineral tenures cover 2,110 square kilometres along a strike length of 67 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 Barkerville 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 2015 with 91,489 tonnes of material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in 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 Shaft Zone Phase II drillholes:

HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
IM-17-142 32.00 32.60 0.60 23.90
IM-17-142 97.20 111.50 14.30 7.54
INCLUDING 105.90 107.50 1.60 13.90
AND 108.85 109.45 0.60 72.90
AND 111.00 111.50 0.50 54.40
IM-17-142 138.50 140.00 1.50 10.95
IM-17-142 185.50 187.00 1.50 9.82
IM-17-142 395.70 403.90 8.20 10.04
INCLUDING 395.70 396.35 0.65 35.20
AND 401.00 401.85 0.85 14.80
AND 402.50 403.90 1.40 32.60
IM-17-142 418.50 419.25 0.75 9.00
IM-17-142 469.30 469.85 0.55 16.55
IM-17-144 113.10 113.60 0.50 18.35
IM-17-144 322.10 322.60 0.50 11.95
IM-17-144 466.50 467.00 0.50 10.55
IM-17-144 474.45 477.75 3.30 8.04
INCLUDING 474.45 475.25 0.80 7.53
AND 475.25 476.00 0.75 12.55
AND 476.00 476.50 0.50 15.95
IM-17-144 484.60 485.10 0.50 18.50
IM-17-144 499.80 501.80 2.00 8.80
INCLUDING 499.80 500.30 0.50 17.95
IM-17-144 612.40 613.65 1.25 11.25
IM-17-144 651.35 652.10 0.75 10.60
IM-17-144 689.30 689.80 0.50 13.55
IM-17-144 690.45 691.30 0.85 22.00
IM-17-145 ASSAYS PENDING
IM-17-147 283.75 284.35 0.60 21.30
IM-17-147 315.65 316.20 0.55 66.10
IM-17-147 421.30 422.55 1.25 21.70
IM-17-148 135.10 135.65 0.55 9.73
IM-17-148 164.50 165.00 0.50 6.98
IM-17-148 189.80 190.80 1.00 7.45
IM-17-149 308.00 308.50 0.50 19.50
IM-17-149 455.75 456.45 0.70 6.96
IM-17-149 548.70 549.55 0.85 14.60
IM-17-150 18.20 19.00 0.80 28.60
IM-17-150 86.50 90.60 4.10 9.29
INCLUDING 88.00 88.80 0.80 24.50
AND 89.50 90.60 1.10 14.85
IM-17-150 229.25 230.75 1.50 5.33
IM-17-150 232.55 233.60 1.05 5.45
IM-17-150 237.00 237.50 0.50 11.90
IM-17-150 272.20 272.70 0.50 9.96
IM-17-150 299.80 300.80 1.00 14.55
IM-17-150 305.95 306.70 0.75 8.97
IM-17-150 439.15 439.70 0.55 6.16
IM-17-150 443.30 444.00 0.70 52.50
IM-17-150 501.75 504.35 2.60 8.37
INCLUDING 502.80 503.35 0.55 22.40
IM-17-151 16.00 19.55 3.55 16.15
INCLUDING 16.85 17.50 0.65 31.20
AND 18.35 18.85 0.50 67.00
IM-17-151 90.65 93.00 2.35 12.28
INCLUDING 90.65 91.30 0.65 10.85
AND 91.80 92.35 0.55 24.30
AND 92.35 93.00 0.65 12.90
IM-17-151 99.50 100.50 1.00 33.20
IM-17-151 169.70 170.40 0.70 20.10
IM-17-151 172.95 173.60 0.65 10.75
IM-17-151 284.05 284.75 0.70 25.20
IM-17-151 292.00 292.50 0.50 15.75
IM-17-151 307.65 308.15 0.50 30.10
IM-17-151 395.20 407.25 12.05 72.23
INCLUDING 401.95 407.25 5.30 158.19
INCLUDING 401.95 402.50 0.55 750.00
AND 402.50 403.00 0.50 479.00
AND 403.00 403.60 0.60 234.00
AND 403.60 404.30 0.70 9.67
AND 404.30 405.00 0.70 14.75
AND 405.00 405.50 0.50 14.75
AND 406.25 407.25 1.00 18.25
IM-17-151 478.00 479.00 1.00 9.81
IM-17-151 540.50 542.00 1.50 9.42
IM-17-152 9.00 9.50 0.50 18.75
IM-17-152 30.40 31.70 1.30 38.50
INCLUDING 30.40 31.00 0.60 16.45
AND 31.00 31.70 0.70 57.40
IM-17-152 58.85 59.50 0.65 31.60
IM-17-152 114.50 115.15 0.65 22.40
IM-17-152 141.75 146.00 4.25 20.07
INCLUDING 142.70 143.50 0.80 78.60
AND 143.50 144.00 0.50 20.60
IM-17-152 266.00 267.00 1.00 8.24
IM-17-152 361.50 366.00 4.50 8.13
INCLUDING 361.50 362.00 0.50 28.80
AND 362.70 363.50 0.80 11.85
AND 365.20 366.00 0.80 10.75
IM-17-153 29.90 30.40 0.50 31.10
IM-17-153 30.90 31.55 0.65 42.00
IM-17-153 76.70 78.00 1.30 17.60
IM-17-153 183.95 186.50 2.55 35.89
INCLUDING 184.85 185.40 0.55 51.50
AND 185.40 186.00 0.60 94.60
IM-17-153 242.60 243.90 1.30 11.90
IM-17-153-1 360.00 360.90 0.90 13.70
IM-17-153-1 364.50 365.00 0.50 12.45
IM-17-153-1 389.35 390.20 0.85 9.09

 

True widths cannot be accurately determined from the information available therefore core lengths are reported. Rock not recovered by drilling was assigned zero grade. Top cuts have not been applied to high grade assays.

Table 2: Drillhole Collar Orientations:

HOLE-ID AZIMUTH DIP
IM-17-142 146.20 -63.90
IM-17-144 130.20 -45.50
IM-17-147 136.70 -45.00
IM-17-148 140.20 -50.70
IM-17-149 140.80 -65.20
IM-17-150 136.40 -44.80
IM-17-151 138.40 -64.70
IM-17-152 140.80 -44.50
IM-17-153 142.60 -64.00
IM-17-153-1 142.60 -64.00