INFILL DRILLING INTERSECTS 12.85 G/T AU OVER 20.00 METRES

 

TORONTO, ON – September 6th, 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 have confirmed short range continuity of the vein systems and 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.

 

Phase II Infill Drilling Intersects Additional Mineralization

 

A previously unidentified corridor of high tenor veining has been discovered in Phase II drillhole
IM-17-131 which intersected 53.26 g/t Au over 11.55 metres in the Shaft Zone at a vertical depth of 400 metres below surface. This infill drilling discovery is situated 12 metres below drillhole IM-17-138. Further downhole, IM-17-131 also intersected 12.85 g/t Au over 20.00 metres which correlates spatially very well with IM-17-138 having intersected 6.67 g/t Au over 17.10 metres. These new intersections are situated proximal to previously reported drillholes IM-17-124, 18.84 g/t Au over 30.85 metres and IM-17-078, 11.42 g/t Au over 28.55 metres. Additional new mineralization was also discovered by IM-17-138 grading 9.18 g/t Au over 7.40 metres at a vertical depth of 600 metres below surface. These wide corridors of sandstone hosted veining are open for expansion in all directions.

 

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 Phase II drillholes:

HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
IM-17-127 197.95 198.50 0.55 12.60
IM-17-127 198.50 199.00 0.50 8.54
IM-17-127 203.60 204.10 0.50 19.20
IM-17-127 342.35 342.85 0.50 15.15
IM-17-127 350.75 351.45 0.70 8.27
IM-17-127 427.80 430.50 2.70 8.58
INCLUDING 428.35 428.85 0.50 10.25
AND 429.95 430.50 0.55 22.60
IM-17-127 442.05 443.10 1.05 12.10
IM-17-127 446.60 447.10 0.50 10.95
IM-17-131 242.10 244.00 1.90 25.17
INCLUDING 242.10 243.00 0.90 15.25
AND 243.00 243.50 0.50 62.70
IM-17-131 262.90 263.90 1.00 9.66
IM-17-131 331.10 332.00 0.90 33.60
IM-17-131 355.90 356.40 0.50 53.70
IM-17-131 426.00 437.55 11.55 53.26
INCLUDING 430.10 430.60 0.50 27.70
AND 431.60 432.30 0.70 127.50
AND 432.30 433.50 1.20 245.00
AND 434.70 435.20 0.50 92.80
AND 435.20 435.95 0.75 189.00
IM-17-131 473.00 473.50 0.50 11.00
IM-17-131 494.60 514.60 20.00 12.85
INCLUDING 494.60 495.10 0.50 10.20
AND 496.60 497.25 0.65 17.50
AND 497.25 498.00 0.75 16.65
AND 498.00 499.30 1.30 24.80
AND 499.30 500.30 1.00 46.50
AND 510.95 511.85 0.90 76.80
AND 513.50 514.00 0.50 41.80
AND 514.00 514.60 0.60 85.40
IM-17-131 574.90 579.35 4.45 20.18
INCLUDING 574.90 575.40 0.50 11.10
AND 576.00 576.50 0.50 90.30
AND 576.50 577.85 1.35 13.40
AND 578.80 579.35 0.55 35.40
IM-17-138 69.10 69.80 0.70 30.00
IM-17-138 89.00 90.50 1.50 8.33
IM-17-138 481.50 498.60 17.10 6.67
INCLUDING 482.00 482.70 0.70 47.60
AND 487.20 488.45 1.25 18.80
AND 488.45 489.30 0.85 8.46
AND 494.30 495.00 0.70 8.12
AND 497.40 498.10 0.70 59.10
IM-17-138 541.10 545.55 4.45 9.91
INCLUDING 541.10 542.20 1.10 28.30
AND 542.20 543.20 1.00 7.64
IM-17-138 667.20 674.60 7.40 9.18
INCLUDING 670.90 671.50 0.60 49.60
AND 671.50 672.70 1.20 19.45
IM-17-138 680.10 681.00 0.90 33.70
IM-17-139 40.80 43.50 2.70 13.84
INCLUDING 40.80 42.12 1.32 23.80
IM-17-139 63.28 64.00 0.72 10.20
IM-17-139 387.00 388.50 1.50 10.25
INCLUDING 387.00 387.50 0.50 20.00
AND 388.00 388.50 0.50 9.22
IM-17-139 398.00 399.00 1.00 60.90
IM-17-139 402.50 403.10 0.60 7.70
IM-17-139 417.00 420.00 3.00 72.34
INCLUDING 417.00 417.50 0.50 214.00
AND 418.00 419.00 1.00 105.50
IM-17-139 429.00 432.00 3.00 8.46
INCLUDING 431.30 432.00 0.70 33.70
IM-17-139 441.00 442.00 1.00 9.79

 

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-17-127 138.00 -65.40
IM-17-131 136.20 -63.60
IM-17-138 130.90 -64.20
IM-17-139 135.90 -45.20