ISLAND MOUNTAIN ALSO YEILDS 16.38 G/T AU OVER 5.80 METRES


TORONTO, ON
– January 9th, 2018 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce additional drilling results from the 2017 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 Shaft Zone with five drill rigs. 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.

Drilling Highlights

  • IM-17-196: 16.38 g/t Au over 5.80 meters
  • IM-17-198: 5.20 g/t Au over 6.25 meters
  • IM-17-202: 29.20 g/t Au over 5.55 meters
  • IM-17-205: 8.21 g/t Au over 4.85 meters

Continued Expansion of Vein Corridors

The Company is pleased to report mineralization expansion from the ongoing drilling at Shaft Zone. Phase II drillhole IM-17-196 intersected 16.38 g/t Au over 5.80 meters at a vertical depth 380 meters below surface. This new intersection is open along strike to the north east. Previously reported hole IM-17-146 is located 35 meters to the south west and averaged 17.45 g/t Au over 8.60 meters. Further up-hole at a vertical depth of 175 meters, IM-17-196 also intersected 6.63 g/t Au over 4.40 meters and correlates with previously reported hole IM-17-115 that graded 10.14 g/t Au over 4.00 meters.

On the north-western extents of the Shaft Zone, drillhole IM-17-202 intersected a well mineralized vein zone grading 29.20 g/t Au over 5.55 meters at a vertical depth of 85 meters from surface. Drilling in this area is sparse and the closest intersection is previously reported drillhole IM-17-030, 135 meters down dip and assayed 9.35 g/t Au over 1.00 meters. This new intersection warrants additional drilling is in this area.

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:

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 1,950 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-17-190 32.00 32.60 0.60 5.16
IM-17-190 232.00 232.50 0.50 6.29
IM-17-190 252.70 254.20 1.50 11.94
INCLUDING 253.50 254.20 0.70 15.15
IM-17-190 528.60 529.20 0.60 9.05
IM-17-190 535.90 542.60 6.70 11.08
INCLUDING 535.90 536.90 1.00 18.20
AND 538.85 539.95 1.10 41.70
AND 540.85 541.40 0.55 10.40
IM-17-190 547.70 548.20 0.50 33.40
IM-17-190 655.40 656.55 1.15 42.17
INCLUDING 655.40 655.95 0.55 82.60
IM-17-192 30.60 33.60 3.00 5.50
INCLUDING 30.60 31.85 1.25 6.61
AND 33.00 33.60 0.60 11.45
IM-17-192 35.00 38.00 3.00 5.94
INCLUDING 35.90 37.00 1.10 8.75
IM-17-192 35.00 37.00 2.00 8.87
INCLUDING 309.65 310.15 0.50 17.75
IM-17-193 122.20 122.90 0.70 10.30
IM-17-193 147.35 149.50 2.15 9.03
INCLUDING 147.35 148.20 0.85 17.55
AND 149.00 149.50 0.50 8.90
IM-17-193 160.50 161.00 0.50 9.78
IM-17-195 ASSAYS PENDING
IM-17-196 232.90 233.50 0.60 9.11
IM-17-196 244.70 248.90 4.20 5.32
INCLUDING 244.70 246.00 1.30 9.13
AND 248.40 248.90 0.50 14.20
IM-17-196 255.20 259.60 4.40 6.63
INCLUDING 256.00 256.70 0.70 7.18
AND 259.00 259.60 0.60 31.70
IM-17-196 266.50 268.00 1.50 13.09
INCLUDING 267.50 268.00 0.50 30.20
IM-17-196 452.30 458.10 5.80 16.38
INCLUDING 453.20 453.75 0.55 73.40
AND 456.55 457.45 0.90 44.40
IM-17-196 485.25 491.30 6.05 4.76
INCLUDING 485.75 486.30 0.55 14.65
AND 489.60 490.10 0.50 10.30
AND 490.70 491.30 0.60 16.40
IM-17-197 148.80 149.30 0.50 4.80
IM-17-197 176.90 177.60 0.70 5.70
IM-17-197 189.00 189.70 0.70 4.39
IM-17-197 211.40 212.30 0.90 6.32
IM-17-197 330.00 330.50 0.50 6.15
IM-17-197 336.00 336.50 0.50 11.85
IM-17-197 350.20 353.70 3.50 13.37
INCLUDING 350.20 350.85 0.65 34.90
AND 351.85 352.90 1.05 20.20
IM-17-197 384.10 387.65 3.55 11.22
INCLUDING 386.00 386.50 0.50 20.30
AND 386.50 387.00 0.50 31.10
AND 387.00 387.65 0.65 14.05
IM-17-197 411.50 412.10 0.60 5.83
IM-17-198 160.00 161.00 1.00 27.50
IM-17-198 200.20 201.25 1.05 4.36
INCLUDING 200.70 201.25 0.55 5.54
IM-17-198 211.50 217.75 6.25 5.20
INCLUDING 212.00 212.50 0.50 5.39
AND 214.70 215.40 0.70 5.98
AND 216.40 217.20 0.80 23.00
IM-17-198 222.25 223.45 1.20 10.15
IM-17-198 226.60 227.50 0.90 12.25
IM-17-198 359.40 360.00 0.60 16.60
IM-17-198 369.95 370.55 0.60 5.33
IM-17-199 169.75 170.45 0.70 4.68
IM-17-199 305.50 306.00 0.50 11.00
IM-17-199 457.65 459.35 1.70 21.14
INCLUDING 457.65 458.85 1.20 13.15
AND 458.85 459.35 0.50 40.30
IM-17-199 518.00 519.80 1.80 6.40
INCLUDING 518.00 519.00 1.00 8.24
IM-17-199 533.00 533.50 0.50 8.94
IM-17-199 618.20 618.70 0.50 5.62
IM-17-199 684.75 686.15 1.40 5.71
IM-17-199 707.10 709.05 1.95 10.11
INCLUDING 707.10 707.60 0.50 17.30
IM-17-200 ASSAYS PENDING
IM-17-201 ASSAYS PENDING
IM-17-202 114.70 120.25 5.55 29.20
INCLUDING 116.40 117.00 0.60 41.40
AND 117.00 118.00 1.00 67.40
IM-17-202 326.80 331.00 4.20 3.49
INCLUDING 326.80 327.40 0.60 16.50
IM-17-202 374.20 374.90 0.70 40.80
IM-17-202 378.95 379.60 0.65 14.40
IM-17-203 82.75 83.30 0.55 105.00
IM-17-204 ASSAYS PENDING
IM-17-205 30.60 35.45 4.85 8.21
INCLUDING 30.60 31.65 1.05 5.47
AND 32.95 33.90 0.95 8.02
AND 33.90 34.40 0.50 45.50
IM-17-205 120.00 121.80 1.80 6.09
IM-17-205 146.45 147.40 0.95 6.63
IM-17-205 148.00 148.50 0.50 35.20
IM-17-205 158.40 159.00 0.60 6.09
IM-17-205 170.15 170.65 0.50 109.50
IM-17-206 106.00 106.70 0.70 70.80
IM-17-207 9.00 10.25 1.25 11.85
IM-17-207 105.00 105.70 0.70 9.24
IM-17-207 184.10 184.90 0.80 16.00
IM-17-207 196.00 197.30 1.30 6.61
IM-17-207 221.20 224.40 3.20 16.75
INCLUDING 223.35 224.40 1.05 47.70
IM-17-207 254.00 255.00 1.00 4.78
IM-17-207 270.00 270.75 0.75 19.75
IM-17-208 138.50 140.10 1.60 3.69
IM-17-208 344.50 345.70 1.20 62.20
IM-17-208 355.50 356.40 0.90 4.57
IM-17-208 363.80 364.50 0.70 26.30
IM-17-209 ASSAYS PENDING
IM-17-210 46.25 46.75 0.50 15.35
IM-17-210 236.25 236.85 0.60 67.60
IM-17-210 326.15 328.00 1.85 9.43
INCLUDING 326.65 327.15 0.50 23.50
IM-17-210 401.10 401.60 0.50 6.42
IM-17-210 472.00 473.00 1.00 5.30
IM-17-210 480.50 481.45 0.95 6.13
IM-17-210 527.50 532.45 4.95 3.70
INCLUDING 531.45 532.45 1.00 7.99
IM-17-211 90.85 91.85 1.00 8.52
INCLUDING 91.35 91.85 0.50 12.40
IM-17-211 125.00 126.00 1.00 24.10
IM-17-211 184.80 185.30 0.50 9.09
IM-17-211 189.75 191.80 2.05 16.90
IM-17-211 226.00 227.00 1.00 5.43
IM-17-212 ASSAYS PENDING
IM-17-213 ASSAYS PENDING
IM-17-214 48.00 48.50 0.50 21.40
IM-17-214 58.50 59.30 0.80 12.05
IM-17-214 79.80 81.00 1.20 4.84
IM-17-214 271.50 272.00 0.50 20.60
IM-17-214 322.10 324.00 1.90 5.30
IM-17-214 323.30 324.00 0.70 8.98

 

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

 

Table 2: Drillhole Collar Orientations:

HOLE-ID AZIMUTH DIP
IM-17-190 132.4 -45.8
IM-17-193 139.3 -66.7
IM-17-196 139.0 -61.6
IM-17-197 140.8 -49.3
IM-17-198 141.5 -64.4
IM-17-199 132.8 -59.9
IM-17-202 141.2 -44.0
IM-17-203 141.8 -62.5
IM-17-205 136.2 -65.2
IM-17-206 139.6 -44.5
IM-17-207 141.9 -65.6
IM-17-208 142.4 -45.0
IM-17-210 140.5 -43.4
IM-17-211 138.7 -63.3
IM-17-214 137.6 -64.2