2018 DRILL RESULTS ALSO INCLUDE INTERSECTION OF 14.69 G/T AU OVER 15.80 METERS


TORONTO, ON
– April 11, 2018 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce drilling results from the 50,000-meter 2018 Island Mountain exploration and delineation 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. True widths are estimated to be 50 to 75% of reported core length intervals. The Company currently has seven drill rigs exploring and delineating mineralized vein corridors on Island Mountain. An eighth drill rig is exploring regional targets 6 km south east of Barkerville Mountain.

Drilling Highlights

  • IM-18-001: 101.98 g/t Au over 2.15 meters
  • IM-18-001: 7.65 g/t Au over 10.60 meters
  • IM-18-005: 14.69 g/t Au over 15.80 meters
  • IM-18-006: 10.87 g/t Au over 6.00 meters
  • IM-18-006: 24.16 g/t Au over 14.55 meters
  • IM-18-009: 52.65 g/t Au over 2.50 meters
  • IM-18-010: 19.64 g/t Au over 3.85 meters
  • IM-18-019: 11.35 g/t Au over 6.30 meters
  • IM-18-022 34.57 g/t Au over 4.20 meters

 

 

Vein Zone Continuity on Island Mountain

The 2018 drill program at Island Mountain is designed to infill and expand known vein corridors on the property. Continuity and extensions of mineralized vein corridors on Island Mountain is demonstrated from recent results. Island Mountain hole IM-18-006 intersected 24.16 g/t Au over 14.55 meters, 140 meters up dip of IM-18-019 that assayed 11.35 g/t Au over 6.30 meters. These intercepts are within and adjacent to modelled vein corridors. IM-18-005 intersected 14.69 g/t Au over 15.80 meters, 35 meters up dip from a modelled vein corridor and IM-18-010 that assayed 19.64 g/t Au over 3.85 meters.

Corridors Discussion

Mineralized quartz veins on the Cariboo Gold Project 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 the vein corridors Island Mountain proposes 64 mineralized vein corridors. These vein corridors have 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 at 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 mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company’s Brownfield’s exploration team is focused on developing and delineating a mineable resource within the 7 kilometers of principle project area located near the town of Wells, British Columbia. The Company’s Greenfield’s team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration. The operation’s team is focused on developing and mining the Bonanza Ledge and BC Vein deposits on Barkerville Mountain. This operation allows the company to generate near term cash flow, train a local work force, keeps the present mining permit active, and de-risk’s the project through staged production growth. Processing of material from these deposits is processed at the QR mill. QR is a fully owned, permitted mill and tailings facility, located approximately 110 kilometres away from Wells, and can be accessed by an all-season road.

 

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 Island Mountain

HOLE ID            FROM                TO CORE LENGTH (M)    AU (G/T)
IM-18-001 64.75 67.90 3.15 5.52
INCLUDING 64.75 65.35 0.60 12.65
139.20 139.70 0.50 21.00
144.70 145.90 1.20 5.74
191.30 194.35 3.05 4.52
INCLUDING 191.30 192.30 1.00 7.96
AND 193.35 194.35 1.00 5.74
348.45 350.60 2.15 101.98
INCLUDING 348.45 349.10 0.65 18.50
AND 350.00 350.60 0.60 345.00
372.85 373.55 0.70 6.42
378.15 388.75 10.60 7.65
INCLUDING 378.15 378.90 0.75 48.60
AND 382.10 383.30 1.20 12.30
AND 385.05 385.65 0.60 7.80
AND 387.60 388.75 1.15 8.45
397.35 397.85 0.50 37.50
412.75 414.25 1.50 6.71
IM-18-002 66.60 67.10 0.50 6.69
136.85 138.00 1.15 11.10
158.50 160.00 1.50 15.50
210.90 212.20 1.30 28.60
255.25 256.00 0.75 7.32
IM-18-003 68.20 70.40 2.20 6.35
INCLUDING 68.20 69.15 0.95 8.57
AND 69.90 70.40 0.50 10.80
132.20 132.90 0.70 20.70
140.85 141.35 0.50 10.25
160.00 161.00 1.00 7.70
218.50 219.35 0.85 4.80
IM-18-004 42.00 42.60 0.60 5.11
68.40 69.65 1.25 10.85
92.60 93.20 0.60 5.21
122.80 125.35 2.55 9.11
INCLUDING 123.30 124.80 1.50 11.75
137.50 138.50 1.00 8.12
141.85 142.35 0.50 4.32
156.85 158.15 1.30 29.10
IM-18-005 36.70 37.20 0.50 23.70
38.30 39.00 0.70 29.40
42.50 44.50 2.00 6.51
42.50 43.00 0.50 3.84
44.00 44.50 0.50 20.30
51.50 52.15 0.65 10.20
57.95 59.00 1.05 39.00
121.00 121.80 0.80 11.00
162.90 178.70 15.80 14.69
INCLUDING 162.90 164.00 1.10 7.46
AND 164.00 164.50 0.50 199.00
AND 168.05 168.95 0.90 59.70
AND 169.50 171.00 1.50 22.70
AND 174.40 174.90 0.50 17.35
AND 178.00 178.70 0.70 16.75
193.85 194.40 0.55 31.30
196.20 197.00 0.80 11.60
IM-18-006 99.00 105.00 6.00 10.87
INCLUDING 99.00 100.00 1.00 7.51
AND 101.00 101.50 0.50 45.00
AND 103.30 103.80 0.50 17.45
AND 103.80 104.30 0.50 35.10
116.00 117.50 1.50 18.15
162.00 162.50 0.50 7.26
175.00 176.00 1.00 5.91
182.20 196.75 14.55 24.16
INCLUDING 182.20 183.00 0.80 63.40
AND 186.60 187.20 0.60 75.10
AND 187.20 188.00 0.80 33.50
AND 194.10 195.00 0.90 17.45
AND 195.00 196.00 1.00 164.00
AND 196.00 196.75 0.75 11.50
248.00 248.90 0.90 14.10
282.00 283.40 1.40 9.61
291.00 291.50 0.50 6.77
297.00 298.50 1.50 4.66
INCLUDING 298.00 298.50 0.50 6.74
IM-18-006-1 183.50 184.00 0.50 11.90
187.80 191.50 3.70 25.96
INCLUDING 189.65 190.40 0.75 59.70
IM-18-007 238.00 239.05 1.05 6.95
IM-18-008 55.00 55.50 0.50 5.00
149.10 150.50 1.40 9.91
319.75 320.25 0.50 9.50
IM-18-009 43.75 46.25 2.50 52.65
INCLUDING 44.25 45.75 1.50 85.60
51.10 51.85 0.75 11.75
57.10 58.00 0.90 5.78
68.50 69.00 0.50 4.74
80.95 81.50 0.55 8.32
94.15 95.30 1.15 16.70
96.70 97.30 0.60 18.25
200.95 201.50 0.55 7.10
269.30 270.15 0.85 12.45
277.40 278.10 0.70 8.27
406.00 407.40 1.40 4.76
IM-18-010 17.70 20.20 2.50 44.66
INCLUDING 17.70 18.20 0.50 166.50
AND 18.20 18.80 0.60 28.60
140.75 141.85 1.10 10.70
185.00 186.40 1.40 5.80
215.60 219.45 3.85 19.64
INCLUDING 215.60 216.15 0.55 18.10
AND 217.95 218.45 0.50 41.90
AND 218.45 219.45 1.00 35.30
249.90 250.40 0.50 22.00
269.00 269.55 0.55 32.60
279.40 279.90 0.50 4.92
289.85 291.00 1.15 4.65
299.65 300.15 0.50 4.30
IM-18-011 NO SIGNIFICANT ASSAYS  
IM-18-012 107.25 107.75 0.50 41.60
194.30 197.20 2.90 26.13
INCLUDING 195.00 196.00 1.00 44.90
228.50 229.00 0.50 89.90
233.90 234.50 0.60 88.60
237.35 237.90 0.55 21.60
IM-18-013 104.50 105.95 1.45 14.90
IM-18-014 97.25 99.00 1.75 9.04
116.00 116.60 0.60 16.55
342.00 342.85 0.85 7.46
387.00 388.35 1.35 5.50
INCLUDING 387.85 388.35 0.50 7.99
IM-18-015 415.40 416.75 1.35 17.00
IM-18-016 132.75 135.30 2.55 24.58
INCLUDING 132.75 133.75 1.00 9.09
AND 134.25 135.30 1.05 51.00
150.00 151.25 1.25 8.66
222.00 224.25 2.25 9.31
285.50 286.00 0.50 10.90
313.05 313.90 0.85 7.63
326.35 327.50 1.15 5.09
IM-18-017 46.30 47.20 0.90 17.95
IM-18-018 15.50 17.10 1.60 5.40
43.00 43.70 0.70 14.10
145.45 147.75 2.30 25.94
INCLUDING 147.00 147.75 0.75 67.00
152.30 152.80 0.50 26.70
177.20 177.70 0.50 22.90
289.85 290.50 0.65 22.00
302.40 303.05 0.65 7.64
315.70 316.45 0.75 7.95
341.50 343.00 1.50 5.45
IM-18-019 23.50 24.55 1.05 53.70
69.00 70.50 1.50 8.93
124.40 125.00 0.60 10.35
129.25 131.25 2.00 12.04
INCLUDING 129.25 130.10 0.85 14.80
AND 130.60 131.25 0.65 12.50
311.10 317.40 6.30 11.35
INCLUDING 311.10 312.00 0.90 38.70
AND 313.55 314.20 0.65 19.85
AND 314.20 314.70 0.50 29.50
AND 316.70 317.40 0.70 7.69
329.00 329.85 0.85 22.90
339.80 340.30 0.50 13.05
364.50 365.00 0.50 18.75
408.20 414.75 6.55 5.98
INCLUDING 408.20 408.70 0.50 24.60
AND 411.00 411.55 0.55 6.50
AND 413.00 414.00 1.00 11.20
AND 414.00 414.75 0.75 10.45
IM-18-020 97.30 98.20 0.90 9.26
IM-18-021 108.60 112.00 3.40 19.45
INCLUDING 108.60 109.20 0.60 5.29
AND 111.00 112.00 1.00 61.10
IM-18-022 134.50 136.00 1.50 16.55
145.00 147.65 2.65 12.03
INCLUDING 145.00 145.50 0.50 32.80
AND 147.00 147.65 0.65 21.10
160.90 165.10 4.20 34.57
INCLUDING 162.00 162.60 0.60 139.50
AND 162.60 164.00 1.40 33.50

 

True widths are estimated to be 50 to 75% of reported core length intervals. 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-18-001 131 -54
IM-18-002 142 -46
IM-18-003 149 -45
IM-18-004 151 -45
IM-18-005 140 -52
IM-18-006 124 -50
IM-18-006-1 124 -50
IM-18-007 127 -57
IM-18-008 135 -45
IM-18-009 134 -50
IM-18-010 143 -48
IM-18-011 135 -53
IM-18-012 148 -51
IM-18-013 121 -65
IM-18-014 134 -54
IM-18-015 130 -51
IM-18-016 146 -60
IM-18-017 140 -59
IM-18-018 130 -54
IM-18-019 131 -61
IM-18-020 137 -55
IM-18-021 140 -61
IM-18-022 129 -67