1. EXPANSION DRILLING INTERSECTS 7.09 G/T AU OVER 34.30 METRES AT DEPTH

 

TORONTO, ON – September 14th, 2017 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce that 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 has expanded a veining corridor at depth in the Shaft Zone. The Company is currently exploring and delineating the Valley and Shaft Zones with nine drill rigs, while drill ten 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-17-123: 5.76 g/t Au over 20.30 metres
  • IM-17-140: 16.79 g/t Au over 4.00 metres
  • IM-17-141: 6.09 g/t Au over 20.40 metres
  • IM-17-141: 11.17 g/t Au over 3.40 metres
  • IM-17-143: 7.09 g/t Au over 34.30 metres
  • IM-17-146: 17.45 g/t Au over 8.60 metres

 

Drilling Expands Shaft Zone Corridors to Depth

The Company is pleased to report that Phase II step-out drillhole IM-17-143 has expanded to depth one of the Shaft Zone veining corridors intersecting 7.09 g/t Au over 34.30 metres at a vertical depth of 425 metres below surface. This occurrence is located 50 metres downdip of recently reported drillhole IM-17-131 which averaged 53.26 g/t Au over 11.55 metres, 390 metres vertically below surface and represents an area at depth open for immediate expansion.

Located in the southeastern portion of the Shaft Zone at a vertical depth of 300 metres below surface, IM-17-146 has discovered another new occurrence of high tenor veining grading 17.45 g/t Au over 8.60 metres. Again, this new area is open for expansion along vein strike and to depth due to the scarcity of drilling in this area.

“The Phase II drilling program at Island Mountain continues to yield strong results with respect to expanding upon the sizeable, high tenor vein corridors that are potentially amenable to bulk underground mining methods”, remarked Paul Geddes, P.Geo, the Company’s Vice President of Exploration. “As we continue to infill the Shaft Zone and expand the known corridors, we are not only demonstrating the continuity but the size of this impressive gold system.”

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-17-123 69.25 69.75 0.50 30.00
IM-17-123 86.65 88.00 1.35 28.90
IM-17-123 415.50 418.50 3.00 25.20
INCLUDING 416.00 416.75 0.75 45.70
AND 416.75 417.30 0.55 12.00
AND 417.30 417.85 0.55 61.40
IM-17-123 438.95 439.45 0.50 11.05
IM-17-123 534.50 554.80 20.30 5.76
INCLUDING 542.00 543.05 1.05 24.80
AND 543.80 545.10 1.30 45.30
IM-17-123 565.50 566.40 0.90 15.60
IM-17-123 580.25 580.95 0.70 17.00
IM-17-123 584.00 585.00 1.00 11.65
IM-17-123 629.00 630.00 1.00 15.65
IM-17-123 633.00 633.65 0.65 9.70
IM-17-140 105.00 105.50 0.50 30.80
IM-17-140 208.50 209.70 1.20 38.00
IM-17-140 372.00 376.00 4.00 16.79
INCLUDING 372.85 373.65 0.80 38.00
AND 373.65 374.50 0.85 40.70
IM-17-140 433.00 434.10 1.10 23.50
IM-17-141 107.00 115.20 8.20 6.08
INCLUDING 107.00 107.50 0.50 51.60
AND 112.00 112.50 0.50 11.95
IM-17-141 139.20 141.20 2.00 32.51
INCLUDING 139.20 140.00 0.80 27.40
AND 140.00 140.70 0.70 61.40
IM-17-141 150.30 151.80 1.50 26.00
INCLUDING 150.30 150.90 0.60 43.70
AND 150.90 151.80 0.90 14.20
IM-17-141 166.50 167.00 0.50 8.27
IM-17-141 197.30 200.70 3.40 11.17
INCLUDING 197.30 198.80 1.50 11.60
AND 200.00 200.70 0.70 25.90
IM-17-141 224.50 244.90 20.40 6.09
INCLUDING 224.50 225.20 0.70 10.80
AND 231.75 232.80 1.05 80.40
AND 239.70 240.50 0.80 16.35
AND 241.80 242.40 0.60 8.60
IM-17-141 254.80 258.95 4.15 8.83
INCLUDING 254.80 255.30 0.50 9.55
AND 255.30 256.20 0.90 17.35
AND 258.30 258.95 0.65 24.40
IM-17-141 385.13 385.90 0.77 11.20
IM-17-141 413.05 414.05 1.00 7.64
IM-17-142 ASSAYS PENDING
IM-17-143 274.50 276.00 1.50 6.26
IM-17-143 389.00 390.40 1.40 8.86
IM-17-143 396.70 397.50 0.80 16.85
IM-17-143 431.35 431.90 0.55 5.65
IM-17-143 436.45 437.00 0.55 25.50
IM-17-143 437.00 437.50 0.50 9.70
IM-17-143 461.00 495.30 34.30 7.09
INCLUDING 461.00 462.10 1.10 36.60
AND 462.10 462.65 0.55 16.80
AND 472.90 474.20 1.30 61.50
AND 477.45 478.00 0.55 8.68
AND 480.10 480.80 0.70 12.45
AND 482.10 483.00 0.90 17.90
AND 486.50 487.45 0.95 13.85
AND 489.80 491.00 1.20 18.35
AND 491.00 491.65 0.65 11.20
IM-17-143 613.70 614.50 0.80 83.20
IM-17-144 ASSAYS PENDING
IM-17-145 ASSAYS PENDING
IM-17-146 52.20 54.90 2.70 21.27
INCLUDING 52.20 52.90 0.70 10.30
AND 52.90 54.00 1.10 45.40
IM-17-146 173.30 174.20 0.90 23.10
IM-17-146 259.00 260.15 1.15 10.20
IM-17-146 340.25 341.55 1.30 12.28
IM-17-146 349.70 350.20 0.50 54.50
IM-17-146 436.50 437.05 0.55 8.28
IM-17-146 457.00 457.50 0.50 9.58
IM-17-146 484.00 484.75 0.75 7.87
IM-17-146 485.90 486.65 0.75 8.31
IM-17-146 523.35 531.95 8.60 17.45
INCLUDING 523.35 523.85 0.50 34.60
AND 523.85 524.50 0.65 11.30
AND 524.50 525.30 0.80 25.60
AND 525.30 526.05 0.75 98.00
AND 526.90 527.50 0.60 21.30
AND 531.40 531.95 0.55 30.60

 

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-17-140 140.40 -65.20
IM-17-143 129.70 -63.50
IM-17-146 138.40 -55.50
IM-17-123 127.40 -65.10
IM-17-141 145.40 -46.40