BGM INTERSECTS 22.11 G/T AU OVER 5.85 METERS AT VALLEY ZONE

NEW MINERALIZED VEIN CORRIDORS INTERSECTED ON BARKERVILLE MOUNTAIN


TORONTO, ON
– March 20th, 2018 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce additional drilling results from the 2017 Valley Zone and Barkerville Mountain exploration and drilling programs at the Company’s flagship Cariboo Gold Project.  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

  • CM-17-078: 11.22 g/t Au over 8.25 meters
  • CM-17-084: 22.11 g/t Au over 5.85 meters
  • CM-17-096: 12.50 g/t Au over 8.00 meters
  • CM-17-096: 2250 g/t Au over 0.50 meters
  • BM-17-001: 9.60 g/t Au over 2.10 meters
  • BM-17-008: 22.72 g/t Au over 1.50 meters

The Company is pleased to report vein mineralization expansion from the exploration drilling at Valley Zone. Drill hole CM-17-084 intersected 7.45 g/t Au over 6.70 meters at a vertical depth of 400 meters. Further down hole, CM-17-084 intersected 22.11 g/t Au over 5.85 meters demonstrating wide vein corridors in the Valley Zone.

Drillhole CM-17-096 intersected 12.50 g/t Au over 8.00 meters down dip of existing modelled veins, and 11.74 g/t Au over 5.15 meters further down hole. CM-17-096 also intersected a 0.5 m wide vein that assayed 2,250 g/t Au.

In addition to results at Valley Zone, the Company’s 4,000-meter Phase I exploration program on Barkerville Mountain yielded mineralized vein intersections of 9.60 g/t Au over 2.10 meters in BM-17-001 at a vertical depth of 180 meters. Drillhole BM-17-002 intersected 4.09 g/t Au over 4.25 meters located 70 meters down dip of BM-17-001. Drillhole BM-17-008 intersected mineralized quartz vein with 22.72 g/t Au over 1.50 meters at a vertical depth of 400 meters. These intersections are adjacent to the previously reported KL zone target area. These intersections remain untested along strike and at depth, holes in this area are at approximately 100 meter spacing and have analogous host lithology and mineralization to the veins present on Cow and Island Mountain. Further drilling is warranted in this area.

 

Corridors Discussion

Mineralized quartz veins at the Valley Zone on Cow 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 vein corridors at Valley Zone proposes 17 mineralized vein corridors with an estimated horizontal width of 3 meters and a strike length of up to 300 meters. These corridors, have been defined from surface to a vertical depth of 600 meters and remain open for expansion to depth and down plunge. Drill hole 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 Project Geologists, Kyle Orr and Felipe Castaneda. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, 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, Maggie Layman, 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 from Valley Zone and Barkerville Mountain

HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
CM-17-067 95.70 96.20 0.50 20.80
264.80 265.30 0.50 89.10
297.30 297.80 0.50 9.97
341.60 342.10 0.50 4.58
362.00 363.30 1.30 18.85
382.60 384.65 2.05 7.32
INCLUDING 382.60 383.20 0.60 15.05
490.00 490.75 0.75 12.90
CM-17-068 351.10 352.00 0.90 4.56
400.60 401.85 1.25 38.97
439.10 440.70 1.60 8.73
439.10 439.70 0.60 14.95
440.20 440.70 0.50 9.60
444.00 444.50 0.50 6.50
499.95 500.90 0.95 6.87
579.50 580.90 1.40 6.58
INCLUDING 579.50 580.00 0.50 9.07
585.60 586.10 0.50 15.90
CM-17-069 148.90 149.40 0.50 7.26
197.00 197.60 0.60 8.84
333.20 333.80 0.60 7.70
364.50 365.35 0.85 5.75
375.70 377.70 2.00 3.84
454.80 455.30 0.50 7.92
471.00 471.50 0.50 4.30
CM-17-070 83.00 84.00 1.00 5.79
182.80 183.30 0.50 263.00
195.00 195.95 0.95 22.80
242.75 243.40 0.65 16.85
269.30 269.80 0.50 4.06
317.50 318.35 0.85 4.44
354.15 355.30 1.15 89.78
INCLUDING 354.15 354.80 0.65 153.50
CM-17-071 155.50 156.50 1.00 9.46
168.30 168.80 0.50 7.50
173.00 173.55 0.55 6.73
208.00 208.50 0.50 19.10
CM-17-072 194.30 199.10 4.80 5.46
INCLUDING 194.30 195.00 0.70 13.15
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
 CM-17-072 AND 197.40 198.40 1.00 10.80
240.60 241.10 0.50 28.70
247.00 248.00 1.00 3.91
257.00 261.70 4.70 5.60
INCLUDING 257.00 257.50 0.50 24.60
AND 261.00 261.70 0.70 8.47
308.90 309.40 0.50 6.33
339.25 340.00 0.75 5.41
341.50 342.00 0.50 20.40
407.65 408.70 1.05 5.30
510.40 511.00 0.60 16.10
512.25 513.00 0.75 9.00
644.70 646.00 1.30 4.91
CM-17-073 122.15 122.65 0.50 9.06
212.80 213.30 0.50 28.30
223.45 224.00 0.55 13.10
225.50 226.00 0.50 47.40
239.55 240.60 1.05 6.99
INCLUDING 240.05 240.60 0.55 9.84
356.50 357.10 0.60 4.34
411.85 419.25 7.40 5.84
INCLUDING 411.85 412.95 1.10 20.50
501.65 503.50 1.85 5.14
575.60 576.20 0.60 5.92
645.40 646.00 0.60 6.98
CM-17-074 98.40 100.00 1.60 19.80
INCLUDING 98.40 99.00 0.60 6.95
AND 99.50 100.00 0.50 52.40
133.60 134.20 0.60 9.73
200.90 201.40 0.50 9.64
208.45 212.10 3.65 5.73
208.45 209.35 0.90 15.90
211.35 212.10 0.75 6.98
305.00 305.50 0.50 5.46
354.05 354.55 0.50 5.81
423.50 424.15 0.65 9.10
451.45 452.30 0.85 8.11
CM-17-075 29.35 29.85 0.50 4.71
83.50 84.00 0.50 9.16
93.35 100.00 6.65 8.57
INCLUDING 98.50 100.00 1.50 32.80
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
 CM-17-075 195.50 196.10 0.60 10.75
203.50 204.05 0.55 7.41
260.50 261.00 0.50 15.10
CM-17-076 85.50 86.00 0.50 26.40
133.00 133.50 0.50 11.05
209.00 209.50 0.50 7.16
220.00 220.50 0.50 26.20
230.00 231.50 1.50 4.22
CM-17-077 97.00 97.50 0.50 9.05
CM-17-078 116.45 116.95 0.50 17.10
146.35 146.95 0.60 4.18
173.70 174.20 0.50 18.75
216.55 217.05 0.50 14.55
226.50 227.25 0.75 20.40
229.40 230.00 0.60 21.20
232.15 233.85 1.70 16.34
INCLUDING 233.35 233.85 0.50 26.90
238.00 239.00 1.00 5.44
259.90 260.40 0.50 26.70
300.15 300.65 0.50 40.80
308.25 316.50 8.25 11.22
INCLUDING 308.85 309.65 0.80 22.30
AND 310.65 311.35 0.70 84.10
AND 314.80 315.30 0.50 12.25
330.40 330.90 0.50 7.74
335.00 335.50 0.50 40.50
350.00 353.00 3.00 11.53
INCLUDING 350.00 350.50 0.50 25.80
AND 350.50 351.05 0.55 17.15
CM-17-079 317.00 317.70 0.70 7.37
CM-17-080 ABANDONDED
CM-17-081 87.35 89.10 1.75 10.40
INCLUDING 87.35 88.10 0.75 13.75
AND 88.60 89.10 0.50 15.70
101.80 102.40 0.60 34.50
220.60 221.60 1.00 19.55
CM-17-082 146.25 146.75 0.50 9.34
152.00 152.60 0.60 23.20
168.75 171.65 2.90 5.32
INCLUDING 168.75 169.80 1.05 11.50
181.15 181.70 0.55 4.69
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
CM-17-082 184.45 186.00 1.55 16.10
INCLUDING 184.45 185.15 0.70 30.40
205.60 206.15 0.55 4.62
218.00 218.50 0.50 14.40
221.00 221.65 0.65 34.80
223.65 225.55 1.90 12.19
INCLUDING 224.95 225.55 0.60 28.30
232.85 233.45 0.60 24.20
352.50 353.00 0.50 5.50
469.75 471.00 1.25 7.56
540.00 540.80 0.80 11.15
CM-17-083 ABANDONED
CM-17-084 331.10 331.85 0.75 14.30
453.20 454.60 1.40 12.09
INCLUDING 453.20 453.75 0.55 20.80
458.20 459.05 0.85 11.70
463.35 470.05 6.70 7.45
INCLUDING 465.35 465.85 0.50 27.70
AND 467.55 468.45 0.90 15.40
475.50 476.00 0.50 6.72
480.35 481.05 0.70 67.70
485.15 491.00 5.85 22.11
INCLUDING 485.15 485.70 0.55 40.90
AND 488.00 488.50 0.50 83.40
AND 489.50 490.25 0.75 20.60
502.25 502.75 0.50 12.85
CM-17-085 57.00 58.15 1.15 23.00
134.00 134.70 0.70 12.55
136.90 137.40 0.50 12.85
248.15 249.00 0.85 4.10
452.10 452.60 0.50 4.87
564.40 564.90 0.50 4.20
CM-17-086 NO SIGNIFICANT ASSAYS
CM-17-087 112.30 112.80 0.50 57.70
119.20 120.30 1.10 20.48
INCLUDING 119.80 120.30 0.50 28.50
227.70 229.30 1.60 5.10
259.40 260.90 1.50 13.35
264.50 265.00 0.50 5.07
274.80 275.70 0.90 4.65
277.80 278.30 0.50 6.42
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
CM-17-087 287.60 288.70 1.10 6.27
CM-17-088 151.05 152.65 1.60 6.41
INCLUDING 152.00 152.65 0.65 10.70
192.65 193.25 0.60 4.48
250.00 250.50 0.50 12.55
261.85 262.35 0.50 12.45
269.80 270.70 0.90 10.65
279.85 280.35 0.50 5.03
285.30 290.00 4.70 17.67
INCLUDING 285.85 286.40 0.55 37.00
AND 287.70 288.85 1.15 29.50
300.10 301.75 1.65 9.19
308.15 311.50 3.35 13.76
INCLUDING 308.15 308.80 0.65 42.30
AND 310.00 310.50 0.50 19.50
AND 311.00 311.50 0.50 14.35
330.00 330.50 0.50 6.66
331.10 331.60 0.50 7.06
432.15 432.65 0.50 104.00
433.30 433.90 0.60 9.69
463.10 463.60 0.50 30.40
CM-17-089 106.30 107.80 1.50 17.05
INCLUDING 106.80 107.80 1.00 23.10
170.30 170.80 0.50 10.55
180.65 182.00 1.35 4.43
307.60 308.30 0.70 46.80
320.50 321.00 0.50 8.20
347.00 347.50 0.50 6.18
391.50 392.00 0.50 9.97
404.00 404.60 0.60 25.50
435.00 435.85 0.85 9.73
445.70 447.55 1.85 4.53
452.40 456.40 4.00 8.36
INCLUDING 454.75 455.30 0.55 15.60
AND 455.90 456.40 0.50 10.70
620.70 621.50 0.80 19.05
CM-17-090 ABANDONED
CM-17-091 200.70 201.25 0.55 16.10
231.70 234.60 2.90 14.25
INCLUDING 233.25 234.00 0.75 34.30
AND 234.00 234.60 0.60 20.60
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
CM-17-091 259.25 260.85 1.60 24.38
INCLUDING 259.25 260.20 0.95 29.50
401.00 401.55 0.55 7.95
449.20 450.00 0.80 7.03
489.00 489.55 0.55 16.40
CM-17-092 NO SIGNIFICANT ASSAYS
CM-17-093 23.20 23.75 0.55 49.20
33.45 34.20 0.75 10.45
169.70 170.50 0.80 7.96
185.60 186.10 0.50 8.37
187.80 188.50 0.70 12.85
209.55 210.05 0.50 4.42
213.50 214.15 0.65 34.90
249.45 250.00 0.55 17.20
281.15 281.85 0.70 5.30
343.90 345.00 1.10 5.12
437.45 438.55 1.10 4.54
441.30 442.00 0.70 4.28
457.05 458.10 1.05 5.51
CM-17-094 101.40 102.30 0.90 21.70
CM-17-095 412.45 413.25 0.80 27.60
415.35 416.40 1.05 4.89
CM-17-096 70.30 71.00 0.70 12.55
74.30 74.80 0.50 26.00
223.50 224.05 0.55 5.43
236.30 236.80 0.50 4.63
285.50 286.80 1.30 10.55
355.00 363.00 8.00 12.50
INCLUDING 357.00 357.55 0.55 27.60
AND 361.50 363.00 1.50 50.30
384.85 390.00 5.15 11.74
INCLUDING 384.85 385.40 0.55 45.40
AND 386.85 387.35 0.50 28.90
477.00 478.00 1.00 8.20
INCLUDING 477.00 477.50 0.50 12.90
489.25 490.50 1.25 6.84
531.05 533.00 1.95 12.88
INCLUDING 531.05 531.55 0.50 13.30
AND 532.05 533.00 0.95 18.80
548.00 549.25 1.25 11.15
572.20 572.70 0.50 12.60
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
CM-17-096 579.50 580.00 0.50 8.52
581.85 582.35 0.50 8.99
623.15 623.65 0.50 2250.00
626.30 626.80 0.50 26.00
CM-17-097 77.00 77.70 0.70 13.85
92.95 93.80 0.85 5.21
221.30 221.80 0.50 6.53
257.45 258.05 0.60 8.73
318.15 318.65 0.50 7.42
351.85 353.25 1.40 7.65
INCLUDING 352.65 353.25 0.60 9.84
384.25 384.75 0.50 5.98
410.00 410.50 0.50 6.59
435.80 436.30 0.50 11.70
BM-17-001 78.10 82.80 4.70 2.96
INCLUDING 80.40 80.90 0.50 11.40
90.45 91.00 0.55 6.61
105.00 105.50 0.50 9.84
162.40 162.90 0.50 6.82
172.10 172.75 0.65 9.36
268.90 271.00 2.10 9.60
INCLUDING 268.90 269.85 0.95 18.30
580.60 581.25 0.65 4.54
BM-17-002 199.15 199.65 0.50 7.72
288.50 289.00 0.50 7.91
328.30 332.55 4.25 4.09
INCLUDING 330.00 331.30 1.30 7.01
BM-17-003 380.05 380.65 0.60 13.30
495.60 496.65 1.05 39.60
BM-17-004 NO SIGNIFICANT ASSAYS
BM-17-005 319.30 319.85 0.55 51.60
326.35 326.85 0.50 6.86
344.00 345.25 1.25 16.11
INCLUDING 344.75 345.25 0.50 29.80
371.10 371.60 0.50 21.80
BM-17-006 191.30 192.00 0.70 12.00
229.10 229.60 0.50 6.97
BM-17-007 56.40 57.20 0.80 5.82
239.20 239.85 0.65 15.90
BM-17-008 169.40 170.00 0.60 4.40
332.25 332.90 0.65 4.39
HOLE ID   FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
BM-17-008 335.15 335.80 0.65 9.85
338.50 341.20 2.70 4.21
INCLUDING 340.60 341.20 0.60 7.15
481.00 482.30 1.30 11.25
INCLUDING 481.50 482.30 0.80 13.40
488.85 490.35 1.50 22.72
INCLUDING 489.35 490.35 1.00 26.30
494.35 495.45 1.10 6.04
513.00 513.65 0.65 56.10
518.50 519.30 0.80 6.94

 

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
CM-17-067 308 -60
CM-17-068 313 -45.4
CM-17-069 307 -56.5
CM-17-070 140 -55
CM-17-071 313 -41.6
CM-17-072 311 -59.3
CM-17-073 318 -46.2
CM-17-074 140 -60
CM-17-075 312 -54.5
CM-17-076 140 -41.5
CM-17-077 140 -54.3
CM-17-078 310 -45
CM-17-079 310 -55
CM-17-080 315 -55
CM-17-081 315 -55
CM-17-082 310 -44
CM-17-083 310 -45
CM-17-084 310 -55
CM-17-085 310 -54.1
CM-17-086 303 -60.7
CM-17-087 314 -62.7
CM-17-088 310 -48
CM-17-089 317 -53
CM-17-090 310 -45
HOLE ID AZIMUTH DIP
CM-17-091 313 -60.8
CM-17-093 313 -44.3
CM-17-094 310 -57.2
CM-17-095 310 -45
CM-17-096 308 -50.5
CM-17-097 310 -55
BM-17-001 136 -44.8
BM-17-002 141 -44.9
BM-17-003 139 -45.2
BM-17-004 139 -44.9
BM-17-005 139 -45.1
BM-17-006 110 -44.7
BM-17-007 110 -46.3
BM-17-008 112 -43.9