12.16 G/T AU OVER 13.30 METER INTERSECTED AT DEPTH


TORONTO, ON
– February 21st, 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 seven 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-17-201: 104.5 g/t Au over 1.00 meter
  • IM-17-215: 23.86 g/t Au over 6.65 meters
  • IM-17-215: 12.16 g/t Au over 13.30 meters
  • IM-17-226: 28.73 g/t Au over 4.45 meters
  • IM-17-231: 24.76 g/t Au over 5.10 meters

The Company is pleased to report new mineralization expansion from the ongoing drilling at Island Mountain. Phase II drillhole IM-17-201 intersected 104.5 g/t Au over 1.00 meters at a vertical depth of 10 meters from surface. This new intersection is 40 meters up dip from previously modelled vein corridor, therefore potentially extending this vein corridor near surface.

IM-17-215 intersected 23.86 g/t over 6.65 meters at a vertical depth of 400 meters from surface and, further down hole, intersected 12.16 g/t Au over 13.30 meters at a vertical depth of 570 meters from surface, demonstrating wide corridors at depth. IM-17-215 represents one of the deepest intercepts to date, drilling at these depths are widely spaced and untested at depth. Additional drilling is warranted to expand this mineralization.

Shaft Zone – Corridors Discussion

Mineralized quartz veins at the Shaft Zone on Island Mountain are hosted within the sandstones and are an anastomosing network of high vein density with an overall sub-vertical dip and northeast strike. Recent modelling of veins at Shaft Zone proposes 50 mineralized vein corridors with an estimated horizontal width of 3 meters and a strike length of up to 300 meters. 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 meters and remain open for expansion to depth and down plunge. Drillhole spacing in the corridors currently averages 25 meters between drilling sections with vertical drilling separations ranging from 20 to 75 meters with hole spacing increasing at 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-17-201 11.00 12.00 1.00 104.50
IM-17-201 77.50 78.95 1.45 5.00
INCLUDING 78.38 78.95 0.57 8.11
IM-17-201 115.80 118.10 2.30 9.19
INCLUDING 117.00 118.10 1.10 13.50
IM-17-201 144.00 144.50 0.50 25.60
IM-17-201 150.50 151.50 1.00 4.59
IM-17-201 213.00 215.35 2.35 14.22
INCLUDING 213.00 214.17 1.17 25.40
IM-17-201 258.60 263.60 5.00 5.38
INCLUDING 262.25 263.60 1.35 10.30
IM-17-201 271.85 273.60 1.75 4.22
IM-17-201 297.00 297.80 0.80 20.70
IM-17-201 312.55 319.20 6.65 3.84
INCLUDING 312.55 313.50 0.95 13.35
IM-17-201 351.30 352.80 1.50 35.58
INCLUDING 352.10 352.80 0.70 54.30
IM-17-204 112.00 112.65 0.65 8.31
IM-17-204 325.00 327.20 2.20 9.05
IM-17-204 326.70 327.20 0.50 15.75
IM-17-204 338.60 339.30 0.70 20.20
IM-17-204 344.25 345.15 0.90 16.65
IM-17-204 380.00 383.10 3.10 3.10
INCLUDING 381.95 382.60 0.65 12.40
IM-17-204 428.45 430.15 1.70 10.17
INCLUDING 429.55 430.15 0.60 12.25
IM-17-209 137.15 138.25 1.10 4.59
INCLUDING 137.70 138.25 0.55 5.57
IM-17-209 230.25 231.00 0.75 75.70
IM-17-209 254.05 254.55 0.50 21.60
IM-17-209 269.45 270.50 1.05 4.48
IM-17-209 276.40 278.25 1.85 11.80
IM-17-209 382.50 383.20 0.70 8.25
IM-17-213 98.10 98.75 0.65 34.30
IM-17-213 144.25 145.10 0.85 5.28
IM-17-213 189.20 190.15 0.95 14.40
IM-17-213 194.20 194.70 0.50 18.15
IM-17-213 370.15 371.45 1.30 27.70
INCLUDING 370.80 371.45 0.65 42.80
IM-17-213 529.40 529.90 0.50 58.30
IM-17-213 543.85 544.70 0.85 5.54
IM-17-213 568.30 569.10 0.80 8.94
IM-17-213 574.45 575.60 1.15 9.98
IM-17-213 589.70 591.10 1.40 5.15
INCLUDING 589.70 590.60 0.90 6.52
IM-17-213 597.35 597.85 0.50 28.90
IM-17-213 613.50 614.00 0.50 5.73
IM-17-213 619.25 619.80 0.55 5.09
IM-17-213 623.85 625.10 1.25 9.25
INCLUDING 623.85 624.60 0.75 14.60
IM-17-215 286.30 288.15 1.85 6.36
INCLUDING 287.20 288.15 0.95 10.65
IM-17-215 459.00 463.25 4.25 11.07
INCLUDING 459.60 460.60 1.00 41.90
IM-17-215 485.00 492.35 7.35 4.00
INCLUDING 491.75 492.35 0.60 32.80
IM-17-215 507.00 513.65 6.65 23.86
INCLUDING 507.00 508.30 1.30 98.10
AND 510.80 512.00 1.20 10.80
AND 512.50 513.65 1.15 10.95
IM-17-215 523.00 523.50 0.50 10.90
IM-17-215 532.80 533.45 0.65 4.79
IM-17-215 560.80 564.10 3.30 6.77
INCLUDING 560.80 561.70 0.90 7.51
AND 563.40 564.10 0.70 20.50
IM-17-215 578.50 579.30 0.80 13.15
IM-17-215 610.55 611.60 1.05 9.49
IM-17-215 656.50 658.55 2.05 9.55
INCLUDING 656.50 657.60 1.10 16.00
IM-17-215 665.70 670.15 4.45 4.55
INCLUDING 665.70 666.60 0.90 6.40
AND 668.50 669.10 0.60 18.20
IM-17-215 682.50 683.30 0.80 5.65
IM-17-215 736.80 738.65 1.85 23.48
INCLUDING 736.80 737.45 0.65 60.20
AND 737.45 738.10 0.65 5.21
IM-17-215 757.20 770.50 13.30 12.16
INCLUDING 758.00 758.65 0.65 38.90
AND 758.65 759.55 0.90 24.40
AND 765.70 767.00 1.30 35.60
AND 770.00 770.50 0.50 36.30
IM-17-216 287.00 287.50 0.50 6.07
IM-17-216 380.80 381.60 0.80 17.50
IM-17-216 556.00 557.00 1.00 44.50
IM-17-216 587.50 590.10 2.60 9.86
INCLUDING 587.50 588.00 0.50 13.75
AND 588.50 589.10 0.60 15.00
IM-17-216 639.50 640.00 0.50 11.30
IM-17-216 660.90 661.60 0.70 10.50
IM-17-216 713.90 715.30 1.40 3.24
IM-17-218 167.80 170.00 2.20 10.03
INCLUDING 167.80 168.30 0.50 6.82
AND 168.80 170.00 1.20 15.10
IM-17-218 172.40 173.30 0.90 51.20
IM-17-218 224.70 225.50 0.80 6.56
IM-17-218 335.10 336.20 1.10 23.20
IM-17-218 375.30 378.70 3.40 6.65
INCLUDING 376.35 377.20 0.85 14.60
IM-17-218 438.80 439.30 0.50 58.90
IM-17-218 487.00 487.50 0.50 12.50
IM-17-221 117.50 121.40 3.90 16.14
INCLUDING 117.50 119.00 1.50 20.70
AND 119.00 120.10 1.10 29.00
AND 120.80 121.40 0.60 11.50
IM-17-221 253.60 260.90 7.30 5.39
INCLUDING 253.60 254.25 0.65 13.10
AND 254.25 254.75 0.50 7.82
AND 257.40 258.10 0.70 7.25
AND 260.00 260.90 0.90 18.65
IM-17-225 138.45 139.00 0.55 11.40
IM-17-225 211.65 212.15 0.50 48.80
IM-17-225 232.60 233.10 0.50 6.53
IM-17-226 30.40 34.85 4.45 28.73
INCLUDING 30.40 31.40 1.00 22.20
AND 31.40 32.10 0.70 70.50
AND 32.80 33.30 0.50 18.05
AND 33.30 34.15 0.85 53.20
IM-17-226 248.60 249.30 0.70 5.00
IM-17-227 92.90 94.60 1.70 13.61
INCLUDING 92.90 93.45 0.55 11.00
AND 94.00 94.60 0.60 28.10
IM-17-227 99.00 100.50 1.50 8.41
IM-17-227 154.35 155.45 1.10 9.15
IM-17-227 194.50 195.90 1.40 7.59
IM-17-227 219.50 220.10 0.60 11.30
IM-17-227 270.40 273.00 2.60 3.05
INCLUDING 271.80 273.00 1.20 4.96
IM-17-227 291.70 293.40 1.70 4.84
IM-17-228 58.40 63.70 5.30 4.17
INCLUDING 58.40 59.70 1.30 7.60
AND 60.40 61.10 0.70 9.04
IM-17-228 275.00 276.50 1.50 7.04
IM-17-229 HOLE ABANDONED
IM-17-230 79.10 79.60 0.50 9.45
IM-17-230 188.75 189.25 0.50 12.80
IM-17-230 233.00 233.50 0.50 44.50
IM-17-230 239.30 239.80 0.50 5.77
IM-17-230 247.80 252.10 4.30 5.22
INCLUDING 250.60 252.10 1.50 10.25
IM-17-230 312.00 313.15 1.15 11.35
IM-17-230 366.50 369.75 3.25 5.73
INCLUDING 366.50 367.00 0.50 33.80
IM-17-230 379.25 379.75 0.50 5.85
IM-17-231 32.80 37.90 5.10 24.76
INCLUDING 33.70 34.70 1.00 49.90
AND 34.70 35.75 1.05 61.30
IM-17-232 33.15 34.95 1.80 24.62
INCLUDING 33.70 34.20 0.50 60.40
IM-17-232 124.50 126.00 1.50 4.07
IM-17-232 243.00 243.50 0.50 27.40
IM-17-233 65.80 67.00 1.20 11.95
IM-17-233 137.00 138.00 1.00 11.65
IM-17-233 162.90 163.40 0.50 12.55
IM-17-233 259.50 260.25 0.75 9.09
IM-17-233 263.00 264.00 1.00 10.30
IM-17-233 323.00 325.00 2.00 6.01
INCLUDING 323.00 323.65 0.65 4.16
AND 324.40 325.00 0.60 14.80
IM-17-234 9.50 10.50 1.00 7.79
IM-17-234 176.65 178.65 2.00 3.72
INCLUDING 176.65 177.15 0.50 9.03
IM-17-234 292.85 293.90 1.05 16.40
IM-17-234 313.50 314.00 0.50 14.55
IM-17-235 114.75 115.80 1.05 4.98
IM-17-235 286.00 289.00 3.00 15.43
INCLUDING 286.00 287.00 1.00 41.60
IM-17-236 HOLE ABANDONED
IM-17-237 HOLE ABANDONED
IM-17-238 50.10 50.60 0.50 79.40
IM-17-238 132.60 133.10 0.50 18.00
IM-17-238 148.90 149.50 0.60 65.10

 

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 DIP AZIMUTH
IM-17-201 -65.5 139.4
IM-17-204 -46.4 135.6
IM-17-209 -44.3 139.3
IM-17-213 -64.4 137.3
IM-17-215 -45.7 135.4
IM-17-216 -64.9 138.0
IM-17-218 -57.5 142.5
IM-17-221 -45.0 135.4
IM-17-225 -43.7 143.3
IM-17-226 -63.5 143.7
IM-17-227 -43.8 137.6
IM-17-228 -65.5 137.0
IM-17-229 -57.7 133.9
IM-17-230 -46.8 138.4
IM-17-231 -46.1 138.7
IM-17-232 -64.8 139.0
IM-17-233 -45.8 143.4
IM-17-234 -44.8 135.0
IM-17-235 -58.6 136.0
IM-17-238 -44.8 142.1