BETA CORRIDOR CONTINUES TO EXPAND – 17.65 G/T AU OVER 6.70 METRES

 

TORONTO, ON – October 31st, 2017 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce additional drilling results from the ongoing 160,000 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 sections 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-17-156: 17.65 g/t Au over 6.70 metres
  • IM-17-166: 12.23 g/t Au over 6.70 metres
  • IM-17-168: 16.05 g/t Au over 5.72 metres
  • IM-17-169: 19.58 g/t Au over 6.65 metres
  • IM-17-170: 20.50 g/t Au over 5.50 metres
  • IM-17-173: 10.82 g/t Au over 8.60 metres
  • IM-17-173: 35.20 g/t Au over 4.00 metres

Beta Corridor Continues to Expand to Depth

The Company is pleased to announce that Phase II drillhole IM-17-169 has expanded the recently announced Beta Corridor via the intersection of 19.58 g/t Au over 6.65 metres at a vertical depth of 320 metres below surface. The expansion occurs 90 metres southwest and up dip along corridor strike from previously disclosed Phase II drillhole IM-17-142 which intersected 10.04 g/t Au over 8.20 metres. Infill drilling between the above-mentioned drillholes has demonstrated the grade and geological continuity of this area as IM-17-173 intersected two veining systems grading 10.82 g/t Au over 8.60 metres and 7.70 g/t Au over 8.35 metres at respective vertical depths of 275 and 350 metres below surface. The Beta Corridor still remains open for expansion along vein strike as well as downdip.

Infill drilling in the Beta Corridor is also indicating the grade and geological continuity of this vein system as demonstrated by drillhole IM-17-172 which intersected two zones averaging 12.81 g/t Au over 4.80 metres followed closely by 12.56 g/t over 3.45 metres at a vertical depth of 150 metres below surface. These intersections occur 40 metres up dip of previously released drillhole IM-17-141 which intersected 6.09 g/t Au over 20.40 metres.


 

Shaft Zone – Corridors Discussion

The sandstone hosted veining which constitutes the newly named Alpha, Beta and Gamma Corridors of the Shaft Zone are 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 corridors are variable and range from 5 to 35 metres. These corridors, 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 corridors 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:

Jason Kosec – Sr. Geologist – Investor Relations

155 University Avenue, Suite 1440

Toronto, Ontario, Canada

250-994-0002 (Wells)

250-552-7424 (Mobile)

[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-17-154 108.90 109.60 0.70 23.60
IM-17-156 63.80 64.60 0.80 29.90
IM-17-156 128.00 129.60 1.60 6.91
IM-17-156 146.85 148.75 1.90 17.23
INCLUDING 146.85 147.35 0.50 48.30
AND 147.35 147.85 0.50 16.45
IM-17-156 153.00 153.50 0.50 10.95
IM-17-156 252.90 259.60 6.70 17.65
INCLUDING 253.90 254.60 0.70 18.00
AND 255.75 256.40 0.65 42.80
AND 258.50 259.10 0.60 59.30
AND 259.10 259.60 0.50 64.90
IM-17-156 279.50 280.80 1.30 11.75
IM-17-156 315.65 316.15 0.50 33.90
IM-17-156 359.75 361.50 1.75 52.69
INCLUDING 360.75 361.50 0.75 116.50
IM-17-160 173.00 177.00 4.00 5.45
INCLUDING 174.50 175.20 0.70 11.00
IM-17-160 181.50 182.00 0.50 9.17
IM-17-160 190.00 191.00 1.00 83.90
IM-17-160 375.50 376.00 0.50 119.50
IM-17-160 380.85 381.35 0.50 11.70
IM-17-160 415.35 415.90 0.55 10.95
IM-17-161 76.20 79.60 3.40 9.25
INCLUDING 77.35 78.15 0.80 25.00
IM-17-161 133.40 134.50 1.10 19.55
IM-17-161 359.75 360.90 1.15 9.41
IM-17-161 364.80 365.35 0.55 6.75
IM-17-161 455.40 456.10 0.70 53.30
IM-17-161 546.75 547.30 0.55 95.50
IM-17-165 203.50 204.40 0.90 6.14
IM-17-165 208.50 209.25 0.75 34.30
IM-17-165 265.00 265.50 0.50 11.00
IM-17-166 67.00 68.00 1.00 6.19
IM-17-166 72.80 73.30 0.50 17.30
IM-17-166 157.40 164.10 6.70 12.23
INCLUDING 159.00 159.70 0.70 31.90
AND 159.70 160.50 0.80 40.90
AND 163.10 164.10 1.00 12.70
IM-17-166 490.80 492.00 1.20 30.50
IM-17-166 499.50 502.10 2.60 38.07
INCLUDING 499.50 500.10 0.60 106.50
AND 500.80 501.30 0.50 67.10
IM-17-166 515.00 515.50 0.50 14.65
IM-17-166 528.80 529.30 0.50 22.10
IM-17-167 31.40 32.80 1.40 19.50
IM-17-167 82.00 82.50 0.50 17.20
IM-17-167 123.00 123.60 0.60 16.75
IM-17-167 265.30 266.40 1.10 19.05
IM-17-167 373.20 374.70 1.50 8.06
IM-17-167 393.20 394.00 0.80 10.20
IM-17-167 397.45 398.50 1.05 7.56
IM-17-168 78.50 84.22 5.72 16.05
INCLUDING 80.50 81.80 1.30 55.50
AND 83.00 84.22 1.22 9.80
IM-17-168 135.35 135.90 0.55 48.30
IM-17-169 33.15 33.85 0.70 17.30
IM-17-169 50.45 51.45 1.00 10.15
IM-17-169 81.70 83.00 1.30 7.84
IM-17-169 130.15 130.75 0.60 53.50
IM-17-169 222.50 229.00 6.50 7.00
INCLUDING 223.20 224.00 0.80 18.55
AND 224.00 225.00 1.00 10.55
AND 225.00 226.05 1.05 10.25
AND 228.50 229.00 0.50 13.85
IM-17-169 233.00 233.70 0.70 12.45
IM-17-169 248.35 250.60 2.25 10.91
INCLUDING 249.25 250.10 0.85 24.20
IM-17-169 263.65 266.50 2.85 12.44
INCLUDING 263.65 264.40 0.75 10.75
AND 264.40 265.00 0.60 30.40
AND 265.00 266.00 1.00 9.06
IM-17-169 343.80 350.45 6.65 19.58
INCLUDING 343.80 344.40 0.60 9.22
AND 344.40 345.35 0.95 16.35
AND 347.55 348.30 0.75 102.50
AND 348.30 349.80 1.50 6.82
AND 349.80 350.45 0.65 33.50
IM-17-169 437.75 438.30 0.55 11.30
IM-17-169 540.05 541.00 0.95 8.42
IM-17-170 39.45 40.25 0.80 50.10
IM-17-170 46.50 47.20 0.70 15.05
IM-17-170 90.50 96.00 5.50 20.50
INCLUDING 90.50 91.65 1.15 47.70
AND 92.55 93.10 0.55 14.10
AND 94.40 95.45 1.05 35.00
IM-17-170 123.20 123.90 0.70 8.39
IM-17-170 166.10 166.60 0.50 8.50
IM-17-170 216.00 219.75 3.75 8.42
INCLUDING 217.05 218.10 1.05 24.40
IM-17-171 221.00 221.65 0.65 40.00
IM-17-172 130.10 132.20 2.10 24.20
INCLUDING 130.10 131.20 1.10 36.70
AND 131.20 132.20 1.00 10.45
IM-17-172 196.80 201.60 4.80 12.81
INCLUDING 198.94 199.75 0.81 56.50
AND 199.75 200.90 1.15 9.72
IM-17-172 208.55 212.00 3.45 12.56
INCLUDING 208.55 210.00 1.45 7.40
AND 210.00 211.00 1.00 17.50
AND 211.00 212.00 1.00 15.10
IM-17-172 235.90 236.40 0.50 41.20
IM-17-172 416.60 417.10 0.50 9.98
IM-17-172 494.75 495.45 0.70 14.40
IM-17-173 118.45 122.45 4.00 35.20
INCLUDING 119.45 120.95 1.50 23.60
AND 120.95 122.45 1.50 68.20
IM-17-173 239.50 240.25 0.75 49.10
IM-17-173 283.40 284.25 0.85 10.30
IM-17-173 306.25 314.85 8.60 10.82
INCLUDING 306.25 306.75 0.50 14.40
AND 307.50 308.00 0.50 46.50
AND 308.00 308.60 0.60 18.60
AND 314.00 314.85 0.85 58.60
IM-17-173 345.85 346.50 0.65 11.00
IM-17-173 358.00 358.75 0.75 22.30
IM-17-173 369.25 369.90 0.65 8.17
IM-17-173 381.15 389.50 8.35 7.70
INCLUDING 381.15 381.90 0.75 29.80
AND 387.75 389.00 1.25 22.80
AND 389.00 389.50 0.50 23.40

 

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-17-154 135.50 -46.90
IM-17-156 142.30 -43.50
IM-17-160 134.60 -65.00
IM-17-161 136.50 -65.60
IM-17-165 139.10 -40.50
IM-17-166 132.50 -64.70
IM-17-167 135.60 -48.70
IM-17-168 141.10 -45.00
IM-17-169 139.20 -64.50
IM-17-170 143.60 -44.40
IM-17-171 143.60 -64.40
IM-17-172 139.20 -45.80
IM-17-173 141.80 -64.50